Narmada Agrobase Rights Issue will open for subscription from 30 September 2024. the company aims for an issue size of ₹36.58 Crores through this rights Issue.
About the company
Narmada Agrobase is an ISO 9001:2015 certified company specializing in the manufacturing and processing of cotton seed meal cake, cattle feed, and soybean meal. The company’s products are primarily used for cattle feed, providing high levels of protein and essential nutrients. Additionally, the by-products from its production are utilized in the textile, consumer goods, and paper industries.
Narmada Agrobase is a manufacturer and exporter of cotton seed meal, guar meal, delinted cotton seed, organic fertilizers, and cattle feed, marketed under the brand names “Churma” and “Gaay Chhaap Narmada Pashu Aahar.” The company’s production facility is located in Ahmedabad, with an installed capacity of approximately 125 metric tons per day.
Currently, the company markets its products through a network of commission agents, brokers, and distributors across Gujarat and Rajasthan. The majority of its sales come from Rajasthan. The company is planning to launch Multigrain Meal High Protein cattle feed, which is rich in protein and fiber, making it highly suitable for poultry feed as well.
Objectives of the Issue
- To finance expenditure towards the Acquisition of Land, Construction of Oil Mill Plant & other civil works and Purchase of Plant & Machineries;
- Incremental Working Capital Requirements; and
- General Corporate Purpose.
Narmada Agrobase Rights Issue Timetable
| Rights Issue Approval Date | 10 September 2024 |
| Rights Issue Record Date | 16 September 2024 |
| Credit of Rights Entitlement | 27 September 2024 |
| Rights Issue Opening Date | 30 September 2024 |
| Last Date for Market Renunciation | 3 October 2024 |
| Rights Issue Closing Date | 9 October 2024 |
| Finalization of Basis of Allotment | 16 October 2024 |
| Rights Allotment Date | 16 October 2024 |
| Credit Date | 22 October 2024 |
| Listing Date | 24 October 2024 |
Narmada Agrobase Rights Issue Details
| Issue Open | September 30, 2024 – October 9, 2024 |
| Security Name | Narmada Agrobase Limited |
| Issue Size (Shares) | 24,387,685 |
| Issue Size (Amount) | ₹36.58 Crores |
| Issue Price | ₹15 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The full amount of Rs. 15.00/- per Equity share is payable on application by Eligible Equity shareholders. |
| Entitlement | 9 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date |
Narmada Agrobase Rights Issue Calculation
| Narmada Agrobase Rights Issue Price | ₹ 15 per share |
| Market Price on Rights Issue Approval | ₹ 22.47 per share |
| Dilution Factor (X) | 2.8 |
| Fair Value After Dilution at Prevailing Price | ₹ 17.67 per share |
Company Financials
| FY 2023 | FY 2024 | |
| Revenue | 50.03 | 50.32 |
| Expenses | 48.87 | 48.76 |
| OPM (%) | 4.13 | 5.14 |
| Net income | 0.65 | 1.02 |
| ROCE (%) | 6.88 | 8.69 |
Narmada Agrobase Rights Issue Documents
- Narmada Agrobase Rights Issue Application Form
- Narmada Agrobase Letter of Offer
- Board Meeting Outcome
Lead Manager(s)
Narmada Agrobase Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700
Email: rights@cameoindia.com
Website: www.cameoindia.com
Company Contact Information
NARMADA AGROBASE LIMITED
310, Sudarshan Complex, Mithakhali Underbridge,
Navrangpura, Ahmedabad – 380009, Gujarat, India
Phone: +91-79-4037 0886
E-mail: cs@narmadaagrobase.com
Website: www.narmadaagrobase.com
Final Thoughts
Applying for the rights issue is purely a personal choice. Make sure you conduct a detailed study of the company and its rights issues before you make an investment decision.
Happy investing
