Ashnoor Textile Mills Rights Issue

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 shares25 April 2024
Record Date26 April 2024
Credit of Rights Entitlements
Bid/Offer Opens On07 May 2024
Renunciation of Rights Entitlements13 May 2024
Bid/Offer Closes On16 May 2024
Deemed Date of Allotment24 May 2024
Credit Date30 May 2024
Listing Date03 June 2024

Ashnoor Textile Mills Rights Issue Details

Issue OpenMay 7, 2024 – May 16, 2024
Security NameAshnoor 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 AtBSE
Terms of PaymentThe Issue Price of Rs.20/- (Rupees Twenty Only) per Rights Equity Share (including premium of Rs.10/- each) payable on application
Entitlement1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date

Company Financials

 FY 2021FY 2022FY 2023
Operating Margin (%)10.597.359.21
Net income5.428.966.12
ROCE (%)9.0013.009.00
(Amount in ₹ Crore)

Rights Issue Documents

Lead Manager(s)

Rights Issue Registrar

C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 8108114949

Company Contact Information

Behrampur, Khandsa Village,
Gurugram, Haryana-122001, India
Phone: 0124-4809755

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

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