Amal Limited Rights Issue

Amal Limited Rights Issue will open for subscription from 06 March 2023. the company aims for an issue size of ₹49.94 Crores through this rights Issue.

About the company

Incorporated in 1974, Amal Limited is engaged in the manufacturing of chemicals. The company undertakes bulk manufacturing of chemicals like Sulphuric acid and oleum and of their downstream products like Sulphur dioxide and Sulphur trioxide. The chemicals produced by Amal Limited find their usage in different industries and products including dyes, fertilizers, personal care, petrochemical, pharmaceutical, textile, and others. Given the type of operations led by the company, they primarily cater to the business-to-business segment. The product portfolio of the company comprises:

Sulphuric Acid
Sulphur Dioxide and Sulphur Trioxide
Oleum

The manufacturing facility of the company is situated at Ankleshwar, Gujarat which was taken on leasehold land on a long-term basis from GIDC. Amal Limited is led under the leadership of Mr Sunil Lalbhai, Chairman, and Mr Rajeev Kumar, Managing Director. They carry their distinct skills and extensive experience in the chemical industry. They are harnessing the company’s operations and driving it toward growth.

Objectives of the Issue

Investment in the Wholly Owned Subsidiary, viz. Amal Speciality Chemicals Limited (ASCL) for repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Wholly Owned Subsidiary;
General Corporate Purposes.

Rights Issue Timetable

Last date to buy shares	20 February 2023
Record Date	21 February 2023
Credit of Rights Entitlements	04 March 2023
Bid/Offer Opens On	06 March 2023
Renunciation of Rights Entitlements	08 March 2023
Bid/Offer Closes On	14 March 2023
Deemed Date of Allotment	21 March 2023
Credit Date	23 March 2023
Listing Date	24 March 2023