Ganesha Ecoverse Rights Issue will open for subscription from 20 September 2024. the company aims for an issue size of ₹46.95 Crores through this rights Issue.
About the company
Ganesha Ecoverse’s innovation and sustainability are revolutionizing the textile industry. The company offers an unparalleled offering of cutting-edge technology and the highest quality sustainable materials to produce textile yarns and garments to meet the growing demands of an ever-evolving market.
Weaving/Knitting Yarns – The company’s weaving and knitting yarns are versatile and reliable, suitable for a wide range of textile applications whether it is creating beautiful woven fabrics or knitting comfortable garments.
Specialty Yarns – These carefully blended yarns are perfect for creating unique and eye-catching textiles and garments. Whether it is looking for texture, color, or special properties, the company’s specialty yarns offer endless possibilities to bring your designs to life.
Sewing Thread – Their sewing threads ensure a flawless finish by producing strong, reliable stitches. Made from high-quality recycled materials, these threads meet the company’s commitment to sustainability while ensuring the durability and longevity of their products.
Objectives of the Issue
- Investment in the Equity Shares of “GESL Spinners Private Limited” (“Target Company/GSPL”)
- General Corporate Purposes
Ganesha Ecoverse Rights Issue Timetable
| Rights Issue Approval Date | 3 September 2024 |
| Rights Issue Record Date | 9 September 2024 |
| Credit of Rights Entitlement | 13 September 2024 |
| Rights Issue Opening Date | 20 September 2024 |
| Last Date for Market Renunciation | 24 September 2024 |
| Rights Issue Closing Date | 30 September 2024 |
| Finalization of Basis of Allotment | 4 October 2024 |
| Ganesha Ecoverse Rights Allotment Date | 5 October 2024 |
| Credit Date | 11 October 2024 |
| Listing Date | 14 October 2024 |
Ganesha Ecoverse Rights Issue Details
| Issue Open | September 20, 2024 – October 4, 2024 |
| Security Name | Ganesha Ecoverse Limited |
| Issue Size (Shares) | 13,415,280 |
| Issue Size (Amount) | ₹46.95 Crores |
| Issue Price | ₹35 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | All Money payable at the time of Application. |
| Entitlement | 6 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date |
Ganesha Ecoverse Rights Issue Calculation
| Rights Issue Price | ₹ 35 per share |
| Market Price on Rights Issue Approval | ₹ 74.5 per share |
| Dilution Factor (X) | 2.2 |
| Fair Value After Dilution at Prevailing Price | ₹ 52.95 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 23.10 | 0.10 | 5.93 |
| Expenses | 23.49 | 3.46 | 7.07 |
| Operating Margin (%) | (1.69) | (2,440) | (1.52) |
| Net income | (0.38) | (3.24) | 4.23 |
| ROCE (%) | (1.51) | (10.19) | – |
Ganesha Ecoverse Rights Issue Documents
- Ganesha Ecoverse Rights Issue Application Form
- Ganesha Ecoverse Letter of Offer
- Board Meeting Outcome
Lead Manager(s)
Ganesha Ecoverse Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Phone: +91-11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Company Contact Information
GANESHA ECOVERSE LIMITED
P3-211, Second Floor, Central Square, 20,
Manohar Lal Khorana Marg, Bara Hindu Rao, Delhi-110006
Phone: +91 9415108158
Email: ganeshaecoverse@gmail.com
Website: www ganeshaecoverse.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
