Asit C Mehta Rights Issue

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 shares14 December 2023
Record Date15 December 2023
Credit of Rights Entitlements20 December 2023
Bid/Offer Opens On22 December 2023
Renunciation of Rights Entitlements01 January 2024
Bid/Offer Closes On04 January 2024
Deemed Date of Allotment10 January 2024
Credit Date15 December 2023
Listing Date17 December 2023

Asit C Mehta Rights Issue Details

Issue OpenDecember 22, 2023 – January 4, 2024
Security NameAsit 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 AtBSE
Terms of PaymentFull amount of ₹ 151.44 per Unit shall be payable on Application
Entitlement133 Rights Equity Share(s) for every 200 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Profit After Tax-931.25146.33225.69
Reserves and Surplus1,647.922,220.963,991.65
(Amount in ₹ Crore)

Asit C Mehta Rights Issue Documents

Lead Manager(s)

Asit C Mehta Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270

Asit C. Mehta Contact Information

Asit C. Mehta Financial Services Limited
Pantomath Nucleus House
Saki Vihar Road
Andheri (East), Mumbai 400072.

Phone: 022 – 61325757

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

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