Asit C Mehta Rights Issue will open for subscription from 22 December 2023. the company aims for an issue size of ₹49.88 Crores through this rights Issue.
About the company
Incorporated in 1984, Asit C Mehta provides advisory and consultancy services for fund mobilization, company restructuring, and property rentals. The Company is divided into four segments – Advisory and Consultancy, Investment Activities, Information Technology, and Stock Broking and Allied Services.
The services provided by the Company include retail services, institutional services, investment banking, digital marketing services, and ITeS services. The retail services consist of investment advisory and execution, financial planning, NRI Solutions, high net-worth individual solutions, and trade execution platform. The institutional services include equities, debt, and forex.
The Company also offers valuation services, such as employee stock ownership plan (ESOP) and asset valuations. Additionally, it helps companies in the banking, financial services, and insurance sectors to execute various business processes. The Company offers a variety of digital marketing campaigns.
Objectives of the Issue
- Conversion of loan of Cliqtrade Stock Brokers Private Limited.
- Repayment of outstanding loans of existing promoters Mrs. Deena Mehta and Mr. Asit Mehta.
- Repayment of Inter-corporate loans (Phase Holdings Private Limited, Midland Leisure and Entertainments Private Limited and Natural Hut Private Limited).
- Acquisition of shares of Omniscience Capital Advisors Private Limited.
- Acquisition of 2,48,350 Equity Shares of ACMIIL from Mr. Kirit Vora 6. General corporate expenses.
Asit C Mehta Rights Issue Timetable
| Last Date to buy shares | 14 December 2023 |
| Record Date | 15 December 2023 |
| Credit of Rights Entitlements | 20 December 2023 |
| Bid/Offer Opens On | 22 December 2023 |
| Renunciation of Rights Entitlements | 01 January 2024 |
| Bid/Offer Closes On | 04 January 2024 |
| Deemed Date of Allotment | 10 January 2024 |
| Credit Date | 15 December 2023 |
| Listing Date | 17 December 2023 |
Asit C Mehta Rights Issue Details
| Issue Open | December 22, 2023 – January 4, 2024 |
| Security Name | Asit C. Mehta Financial Services Limited |
| Issue Size (Shares) | 3,293,452 |
| Issue Size (Amount) | ₹49.88 Crores |
| Issue Price | ₹137.4 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Full amount of ₹ 151.44 per Unit shall be payable on Application |
| Entitlement | 133 Rights Equity Share(s) for every 200 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 15,929.18 | 17,033.62 | 15,963.42 |
| Revenue | 3,383.24 | 4,154.08 | 3,923.65 |
| Profit After Tax | -931.25 | 146.33 | 225.69 |
| Reserves and Surplus | 1,647.92 | 2,220.96 | 3,991.65 |
Asit C Mehta Rights Issue Documents
Lead Manager(s)
–
Asit C Mehta Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: asitcmehta.rights@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Asit C. Mehta Contact Information
Asit C. Mehta Financial Services Limited
Pantomath Nucleus House
Saki Vihar Road
Andheri (East), Mumbai 400072.
Phone: 022 – 61325757
Email: investorgrievance@acmfsl.co.in
Website: https://www.acmfsl.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
