Gyscoal Alloys Rights Issue

Gyscoal Alloys Rights Issue will open for subscription from 23 December 2022. the company aims for an issue size of ₹49.18 Crores through this rights Issue.

Gyscoal Alloys Limited

Incorporated in 1999, Gyscoal Alloys is engaged in the trading of iron and steel scraps, billets, CTD Bars, TMT Bars, and stainless steel long products. The stainless steel long products of Gyscoal Alloys include angles, bright bars, black bars, flats, hexagonal and round corner squares (RCS), channels, sections, pata-patti, and rectangles in standard sizes. The company obtained ISO 9001:2015 certification for the manufacture and supply of its products.

Gyscoal Alloys has exported its products to countries like Thailand, Bangladesh, Vietnam, Kenya, Malaysia, Yemen, UAE, Philippines, Egypt, Germany, Ecuador, Morocco, Guatemala, Italy, Taiwan, Srilanka, Belgium, Brazil, Turkey, Indonesia, Iran, Russia, and Myanmar. The company is led by Viral Mukundbhai Shah, Promoter and CEO. He is in association with the company since its incorporation and is one of the founding members.

Objects of the Issue:

Payment towards a full and final settlement of the outstanding loan amount of Omkara Assets Reconstruction Private Limited (“Omkara”);
Part repayment or pre-payment of unsecured loans availed by our Company from Sampati Securities Limited, one of the Promoter Group Company; and
General corporate purpose

Issue Timetable

Record Date	23 December 2022
Credit of Rights Entitlements	30 December 2022
Bid/Offer Opens On	02 January 2023
Renunciation of Rights Entitlements	09 January 2023
Bid/Offer Closes On	12 January 2023
Deemed Date of Allotment	19 January 2023
Credit Date	25 January 2023
Listing Date	27 January 2023