Grasim Industries Rights Issue will open for subscription from 17 January 2024. the company aims for an issue size of ₹3,999.80 Crores through this rights Issue.
About the company
Incorporated in 1947, Grasim Industries Limited is a textile manufacturing company based in Mumbai, India, and produces Viscose, Diversified Chemicals, Linen Yarn, and Fabrics. The company has recently entered the paint business under the brand name ‘Birla Opus’ and plans to set up six manufacturing plants for decorative paints across various locations in India. Grasim aims to create sustainable value for employees, shareholders, society, and customers. In FY2023, the company reported consolidated net revenue of ₹1,17,627 Cr. and EBITDA of ₹20,478 Cr.
Objectives of the Issue
- Repayment or prepayment, in full or in part, of certain borrowings availed by our Company; and
- General corporate purposes.
Grasim Industries Rights Issue Timetable
| Last Date to buy shares | 09 January 2024 |
| Record Date | 10 January 2024 |
| Credit of Rights Entitlements | 16 January 2024 |
| Bid/Offer Opens On | 17 January 2024 |
| Renunciation of Rights Entitlements | 23 January 2024 |
| Bid/Offer Closes On | 29 January 2024 |
| Deemed Date of Allotment | 08 February 2024 |
| Credit Date | 09 February 2024 |
| Listing Date | 12 February 2024 |
Grasim Industries Rights Issue Details
| Issue Open | January 17, 2024 – January 29, 2024 |
| Security Name | Grasim Industries Ltd. |
| Issue Size (Shares) | 22,073,935 |
| Issue Size (Amount) | ₹3,999.80 Crores |
| Issue Price | ₹1812 per share |
| Face Value | ₹2 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The amount of Rs. 453 per Rights Equity Share is to be paid on the Application. The balance of Rs 1,359 will be paid on up to three subsequent calls as determined by the Board. |
| Entitlement | 6 Rights Equity Share(s) for every 179 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 337,205.03 | 2,893.95 | 267,554.21 |
| Revenue | 121,239.13 | 96,522.47 | 267,554.21 |
| Profit After Tax | 11,078.20 | 11,206.29 | 6,986.70 |
| Net Worth | 78,742.00 | 75,698.00 | 65,494.00 |
| Reserves and Surplus | 78,610.00 | 75,567.00 | 75,567.00 |
Grasim Industries Rights Issue Documents
Lead Manager(s)
- Axis Capital Limited
- BofA Securities India Limited
- Jefferies India Private Limited
- JM Financial Limited
- Kotak Mahindra Capital Company Limited
- SBI Capital Markets Limited
Grasim Industries Rights Issue Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Email: efsl.ncdipo@kfintech.com
Website: www.kfintech.com
Company Contact Information
Grasim Industries Ltd.
Aditya Birla Centre, ‘A’ Wing, 2nd Floor,
S.K. Ahire Marg,
Worli, Mumbai 400 030,
Phone: +91 22 6652 5000
Email: grasim.secretarial@adityabirla.com
Website: https://www.grasim.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
