Shree Ganesh Remedies Rights Issue will open for subscription from 13 February 2023. the company aims for an issue size of ₹18.91 Crores through this rights Issue.
About the company
Incorporated in 1995, Shree Ganesh Remedies Limited is engaged in the business as a pharmaceutical intermediate manufacturing company in India. The company is engaged and involved in the development of Basic as well as Advanced intermediates for the API active pharmaceutical ingredients (“APIs”), for the generic and regulated market.
Extending its operations, Shree Ganesh Remedies recently entered into a new chemical entity (“NCE”), the synthesis of which is the first step in the process of drug development. Shree Ganesh Remedies (SGRL) is an ISO 9001:2015, ISO 14001:2015 BS, and ISO 45001:2018 certified entity actively engaged in the manufacturing of pharma intermediates and fine chemicals. Products of the company are:
- Chloroalkyl amines Salts
- Friedel Craft’s derivatives
- Esters and Acid chlorides
- Anti-psychotic
- Anti-parasitic
The products of Shree Ganesh Remedies are delivered across different parts of India alongside exported in other countries. The company is scaling its business continuously to tremendous heights.
Objectives of the Issue
- Part repayment or prepayment of unsecured loans availed from the Promoters and from the member of the Promoter Group
- Meeting Working Capital Requirements; and
- General corporate purposes.
Rights Issue Timetable
| Record Date | 03 February 2023 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 13 February 2023 |
| Renunciation of Rights Entitlements | 15 February 2023 |
| Bid/Offer Closes On | 21 February 2023 |
| Deemed Date of Allotment | |
| Credit Date | |
| Listing Date |
Shree Ganesh Remedies Rights Issue Details
| Issue Open | Feb 13, 2023 – Feb 21, 2023 |
| Security Name | Shree Ganesh Remedies Limited |
| Issue Size (Shares) | 840,471 |
| Issue Size (Amount) | ₹18.91 Crores |
| Issue Price | ₹225 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Rs. 135 per share 60% on application and the remaining 40% on subsequent calls. |
| Entitlement | 7 Rights Equity Shares for Every 100 Equity Shares held as on the record date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-21 | 60.6 | 51.18 | 9.75 | 49.44 |
| 31-Mar-22 | 77.02 | 74.86 | 13.4 | 55.79 |
Lead Manager(s)
- Fedex Securities Limited
Rights Issue Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightissue@bigshareonline.com
Website: http://www.bigshareonline.com
Company Contact Information
Shree Ganesh Remedies Limited
Plot no. 6011,
G.I.D.C,
Ankleshwar – 393002
Phone: +91 02646-227777
Email: investors@ganeshremedies.com
Website: http://www.ganeshremedies.com/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
