Gujarat Toolroom Rights Issue will open for subscription from 14 June 2024. the company aims for an issue size of ₹48.89 Crores through this rights Issue.
About the company
Gujarat Toolroom is involved in trading silver conductive ink. Its business relies entirely on the market demand and supply of silver ink, which the company imports from Hong Kong. Presently, the company relies on a single supplier for its silver conductive ink. It typically does not need to maintain a stock of the ink and therefore does not have a warehouse facility. The company sells 100% of its products in the domestic market and is working on establishing an independent sales and distribution network to compete effectively in the conductive ink market. As of December 2023, the company had a workforce of 17 employees.
Objectives of the Issue
- To augment the existing and incremental working capital requirement of the company;
- Investment in its wholly owned subsidiary, GTL Gems DMCC for augmentation of working capital requirements for its business activities; and
- General Corporate Purposes.
Gujarat Toolroom Rights Issue Timetable
| Last Date to buy shares | 04 June 2024 |
| Record Date | 05 June 2024 |
| Credit of Rights Entitlements | 11 June 2024 |
| Bid/Offer Opens On | 14 June 2024 |
| Renunciation of Rights Entitlements | 08 July 2024 |
| Bid/Offer Closes On | 12 July 2024 |
| Deemed Date of Allotment | 19 July 2024 |
| Credit Date | 22 July 2024 |
| Listing Date | 25 July 2024 |
Gujarat Toolroom Rights Issue Details
| Issue Open | June 14, 2024 – July 12, 2024 |
| Security Name | Gujarat Toolroom Ltd. |
| Issue Size (Shares) | 61,108,960 |
| Issue Size (Amount) | ₹48.89 Crores |
| Issue Price | ₹8 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | The Issue Price of ₹ 8/- per Equity Share shall be payable at the time of application. |
| Entitlement | 11 Rights Equity Share(s) for every 10 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | – | – | 240.86 |
| Expenses | 4.48 | 15.86 | 19.26 |
| Operating Margin (%) | – | – | 70.07 |
| Net Income | (4.49) | (16.05) | 138.75 |
Rights Issue Documents
Lead Manager(s)
Rights Issue Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, No.1,
Club House Road, Chennai 600 002
Phone: +91 – 44 4002 0700
Email: rights@cameoindia.com
Website: www.cameoindia.com
Company Contact Information
GUJARAT TOOLROOM LIMITED
404, 4th floor, Samarth Co. Op. H. Soc, Nr. Silicon Tower
Nr. Law Garden, Ellis Bridge, Ahmedabad- 380006
Phone: +91-7227013356
Email: cs@gujarattoolroom.com
Website: www.gujarattoolroom.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
