Ashnoor Textile Mills Rights Issue will open for subscription from 07 May 2024. the company aims for an issue size of ₹6.37 Crores through this rights Issue.
About the company
Ashnoor Textile Mills focuses primarily on producing terry towels to serve the hospitality industry. It also manufactures colored towels according to market demand, and all company activities revolve around this core business as a single unit. Additionally, there are no geographical segments since all of the company’s operations take place solely within India.
As of 30 June 2023, the company has produced over 845 tons of terry towels. The company consistently works to uphold high standards in all aspects of its operations, from combing yarn to shipping towels internationally. Over 90% of its export sales are directed to the USA. The company employs 296 people across its operations as of the same date.
Objectives of the Issue
- Adjustment of unsecured loans against the entitlement of the promoters of the Company; and
- General Corporate Purposes.
- To meet the Rights Issue Expenses
Ashnoor Textile Mills Rights Issue Timetable
| Last Date to buy shares | 25 April 2024 |
| Record Date | 26 April 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 07 May 2024 |
| Renunciation of Rights Entitlements | 13 May 2024 |
| Bid/Offer Closes On | 16 May 2024 |
| Deemed Date of Allotment | 24 May 2024 |
| Credit Date | 30 May 2024 |
| Listing Date | 03 June 2024 |
Ashnoor Textile Mills Rights Issue Details
| Issue Open | May 7, 2024 – May 16, 2024 |
| Security Name | Ashnoor Textile Mills Ltd. |
| Issue Size (Shares) | 3,186,462 |
| Issue Size (Amount) | ₹6.37 Crores |
| Issue Price | ₹20 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The Issue Price of Rs.20/- (Rupees Twenty Only) per Rights Equity Share (including premium of Rs.10/- each) payable on application |
| Entitlement | 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 118.24 | 261.86 | 176.96 |
| Expenses | 108.69 | 246.62 | 165.90 |
| Operating Margin (%) | 10.59 | 7.35 | 9.21 |
| Net income | 5.42 | 8.96 | 6.12 |
| ROCE (%) | 9.00 | 13.00 | 9.00 |
Rights Issue Documents
Lead Manager(s)
–
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: +91 8108114949
Email: ashnoortextile.rights2023@linkintime.co.in
Website: www.linkintime.co.in
Company Contact Information
ASHNOOR TEXTILE MILLS LIMITED
Behrampur, Khandsa Village,
Gurugram, Haryana-122001, India
Phone: 0124-4809755
Email: accounts@ashnoortex.com
Website: www.ashnoortex.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
