Ashapuri Gold Ornament Rights Issue will open for subscription from 08 May 2024. the company aims for an issue size of ₹48.75 Crores through this rights Issue.
About the company
Established in 2008, Ashapuri Gold Ornament specializes in manufacturing and trading gold ornaments and various designs. Initially, until March 2019, the company focused on wholesale trading of jewelry, which was produced through job work in Ahmedabad and Rajkot. The designs are created either in-house or by third parties on behalf of the company, and the jewelry is manufactured on a job-work basis. Ashapuri Gold Ornament operates a showroom spanning 2,945 square feet in a prime location on C.G. Road, Ahmedabad.
Ashapuri Gold Ornament has established sales teams in various regions and cities such as Delhi, Rajasthan, Punjab, Uttar Pradesh, Kolkata, Chennai, and Bangalore to expand its business further. In fiscal year 2023, the company operated branch offices in Bangalore, New Delhi, and Mumbai.
As of 31 March 2023, the company had a total of 64 employees. The total revenue from the company’s operations during the financial year 2022-23 was INR 158.14 crore, a decrease of 3.55% compared to the previous year’s revenue of INR 163.96 crore.
Objectives of the Issue
- Meeting the working capital requirements of the Company.
- General Corporate Purposes.
Ashapuri Gold Ornament Rights Issue Timetable
| Last Date to buy shares | 16 April 2024 |
| Record Date | 18 April 2024 |
| Credit of Rights Entitlements | 03 May 2024 |
| Bid/Offer Opens On | 08 May 2024 |
| Renunciation of Rights Entitlements | 21 May 2024 |
| Bid/Offer Closes On | 27 May 2024 |
| Deemed Date of Allotment | 04 June 2024 |
| Credit Date | 05 June 2024 |
| Listing Date | 10 June 2024 |
Ashapuri Gold Ornament Rights Issue Details
| Issue Open | May 8, 2024 – May 27, 2024 |
| Security Name | Ashapuri Gold Ornament Ltd |
| Issue Size (Shares) | 83,328,666 |
| Issue Size (Amount) | ₹48.75 Crores |
| Issue Price | ₹5.85 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | Full Amount for Rights Equity Shares shall be payable by the eligible shareholders at the time of making an application. |
| Entitlement | 1 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 163.85 | 158.01 | 165.07 |
| Expenses | 158.74 | 154.70 | 155.89 |
| Operating Margin (%) | 3.26 | 2.39 | 6.91 |
| Net income | 3.07 | 1.79 | 7.43 |
| ROCE (%) | 5.23 | 3.31 | 11.60 |
Ashapuri Gold Ornament Rights Issue Documents
Lead Manager(s)
–
Rights Issue Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: rightsissue@bigshareonline.com
Website: www.bigshareonline.com
Company Contact Information
ASHAPURI GOLD ORNAMENT LTD
109 to 112A, 1st Floor Supermall, Nr. Lal Bungalow,
C.G. Road, Ahmedabad – 380009 Gujarat
Phone: +9179-26462170-71
Email: account@ashapurigold.com
Website: www.ashapurigold.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
