Tilak Ventures Rights Issue will open for subscription from 03 October 2024. the company aims for an issue size of ₹49.03 Crores through this rights Issue.
About the company
Established in 1980, Tilak Ventures is a finance company that provides loans to individuals, firms, and corporate entities, while also accepting deposits or loans to support its financing operations. The company operates in two primary business segments: Finance and Commodities Activities. Tilak Ventures is currently focused on financing, investing, and trading in shares, commodities, and bullion. The company is also planning to enter the renewable energy sector by setting up a 25MW solar power project, highlighting its growing interest in the expanding power project industry. As of 31 March 2023, Tilak Ventures held INR 5.7 crore in cash and equivalents, along with INR 4.9 crore in short-term loans and advances.
Objectives of the Issue
- Towards working capital requirements furtherance including Loans & advances and Investments.
- Issue Related Expenses
- General Corporate Purposes.
Tilak Ventures Rights Issue Timetable
| Rights Issue Approval Date | 9 September 2024 |
| Rights Issue Record Date | 13 September 2024 |
| Credit of Rights Entitlement | 19 September 2024 |
| Rights Issue Opening Date | 3 October 2024 |
| Last Date for Market Renunciation | 4 October 2024 |
| Rights Issue Closing Date | 11 October 2024 |
| Finalization of Basis of Allotment | 15 October 2024 |
| Rights Allotment Date | 16 October 2024 |
| Credit Date | 17 October 2024 |
| Listing Date | 22 October 2024 |
Tilak Ventures Rights Issue Details
| Issue Open | October 3, 2024 – October 11, 2024 |
| Security Name | Tilak Ventures Ltd |
| Issue Size (Shares) | 222,848,403 |
| Issue Size (Amount) | ₹49.03 Crores |
| Issue Price | ₹2.2 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | The entire amount of the Issue Price of Rs 2.20/- per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Tilak Ventures Rights Issue Calculation
| Tilak Ventures Rights Issue Price | ₹ 2.20 per share |
| Market Price on Rights Issue Approval | ₹ 4.72 per share |
| Dilution Factor (X) | 2 |
| Fair Value After Dilution at Prevailing Price | ₹ 3.46 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 3.89 | 6.98 | 12.86 |
| Expenses | 4.68 | 6.58 | 9.76 |
| OPM (%) | (20.31) | 5.73 | 24.11 |
| Net income | (0.39) | 2.28 | 5.14 |
| ROCE (%) | – | 4.44 | 9.02 |
Rights Issue Documents
Lead Manager(s)
Tilak Ventures Rights Issue Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: 022 – 4918 6270
Email: rnt.helpdesk@linkintime.co.in
Website: www.linkintime.co.in
Company Contact Information
TILAK VENTURES LIMITED
E-109, Crystal Plaza, New Link Road,
Opposite Infinity Mall, Andheri (West),
Mumbai – 400 053, Maharashtra
Phone: 022-66921199,91-9152096141
E-mail: tilakfin@gmail.com
Website: www.tilakfinance.wordpress.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
