Coastal Corporation Rights Issue will open for subscription from 06 September 2022. The company aims for an issue size of ₹43.42 Crores through this rights issue.
Coastal Corporation Limited
Coastal Corporation Limited is engaged in the business of processing, production, and distribution of seafood globally. The company’s product line involves shrimp products and Aquaculture products.
The company operates two processing plants and the equipment and machinery installed are sourced from the internationally acclaimed seafood process machinery manufacturers the plants have a capacity of 47.5 metric tonnes and 25 metric tonnes per day each. Coastal Corporation is certified for HACCP and follows the BRC Global Standard for Food Safety. The company is also certified by BAP which lays downs the Best Aquaculture Practice.
Objects of the Issue
- Investment in our wholly owned subsidiary, Continental Fisheries India Limited (“CFIL”) for part-financing its capital expenditure requirements in relation to the setting up shrimp processing unit with an installed capacity of 2,500 Kilograms Per Hour and 1,100MT Frozen Storage.
- Investment in our wholly owned subsidiary, Coastal Biotech Private Limited (“CBPL”) for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility to manufacture 198 KLPD of Ethanol.
- To meet the Issue Expenses.
- General Corporate Purposes.
Coastal Corporation Rights Issue 2022 Issue Timetable
| Bid/Offer Opens On | 12 September 2022 |
| Bid/Offer Closes On | 27 September 2022 |
| Record Date | 26 August 2022 |
| Deemed Date of Allotment | 06 October 2022 |
| Renunciation of Rights Entitlements | 21 September 2022 |
Coastal Corporation Rights Issue Details
| Issue Open | Sep 12, 2022 – Sep 27, 2022 |
| Security Name | Coastal Corporation Limited |
| Issue Size (Shares) | 1,929,800 |
| Issue Size (Amount) | ₹43.42 Crores |
| Issue Price | ₹225 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The amount of Rs 56.25 per share has to be paid at the time of Application and the balance is to be paid in two calls as determined by our Board at its sole discretion from time to time. |
| Entitlement | 1 Equity Shares for every 6 Equity Shares held on the Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 327.87 | 481.94 | 18.41 |
| 31-Mar-22 | 397.57 | 504.38 | 13.55 |
Lead Manager(s)
- Finshore Management Services Limited
Coastal Corporation Rights Issue 2022 Registrar
- Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightsissue@bigshareonline.com
Website: http://www.bigshareonline.com
Company Contact Information
Coastal Corporation Limited
15-1-37/3, Jayaprada Apartments,
Nowroji Road, Maharanipeta,
Visakhapatnam-530 002
Phone: +91-891-2567118
Email: mkrishna@coastalcorp.co.in
Website: https://coastalcorp.co.in/
Final thoughts
Coastal Corporation Rights Issue is going to open for subscription soon. applying for rights Issue is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
