IND Renewable Energy Rights Issue will open for subscription from 18 January 2024. the company aims for an issue size of ₹25.43 Crores through this rights Issue.
About the company
Incorporated in 2011, IND Renewable Energy Limited has started generating solar power, including rooftop solar. The company is involved in the business of providing infrastructure, managing, owning, controlling, erecting, commissioning, operating, running, leasing or transferring power plants based on conventional or non-conventional energy sources such as solar energy plants, wind energy plants, mechanical, electrical, hydel, tidal, wave energy, thermal, oil, gas, air, sea energy, diesel oil, heavy furnace oil, naptha, bio-mass, bio-gas, coal, civil engineering works, and similar projects.
They also supply electricity to participating industries, State Electricity Boards, and other boards for industrial, commercial, domestic, public, and other purposes. Additionally, they provide regular services for repairing and maintaining all distribution and supply lines, renewable energy sources, waste treatment plants of all kinds, and equipment thereof in India and outside India. The company also manufactures, procures, and deals in all ancillary products like transformers, batteries, inverters, etc., required for or capable of being used in connection with the above industry. As of March 31st, 2023, the company has six full-time employees. The company is currently in the process of expanding our team.
Objectives of the Issue
- To acquire the Plant & Machinery to set up a 2.5 MWp Solar PV System.
- Payment of Security Deposit for renting Land for setting up of Solar Plant 300.00
- To meet General Corporate purposes
IND Renewable Energy Rights Issue Timetable
| Last Date to buy shares | 05 January 2024 |
| Record Date | 08 January 2024 |
| Credit of Rights Entitlements | 28 January 2024 |
| Bid/Offer Opens On | 18 January 2024 |
| Renunciation of Rights Entitlements | 23 January 2024 |
| Bid/Offer Closes On | 02 February 2024 |
| Deemed Date of Allotment | 03 February 2024 |
| Credit Date | 08 February 2024 |
| Listing Date | 13 February 2024 |
IND Renewable Energy Rights Issue Details
| Issue Open | January 18, 2024 – February 2, 2024 |
| Security Name | Ind Renewable Energy Ltd |
| Issue Size (Shares) | 12,109,440 |
| Issue Size (Amount) | ₹25.43 Crores |
| Issue Price | ₹21 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Full amount of Rs.2 per Equity Share is payable on application. |
| Entitlement | 4 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3.39 | 3.34 | 3.30 | |
| Revenue | 0.06 | 0.00 | ||
| Profit After Tax | 0.31 | 0.00 | -0.09 | -0.09 |
| Net Worth | 3.50 | 3.19 | 3.19 | 3.28 |
IND Renewable Energy Rights Issue Documents
Lead Manager(s)
- Navigant Corporate Advisors Ltd
IND Renewable Energy Rights Issue Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: indrenewable.rights@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Company Contact Information
Ind Renewable Energy Ltd
503, Western Edge II,
Western Express High Way
Borivali East, Mumbai-400066
Phone: 022 2870 2070
Email: ind.renewable01@gmail.com
Website: http://indrenewable.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
