La Tim Metal And Industries Rights Issue will open for subscription from 10 January 2024. the company aims for an issue size of ₹37.53 Crores through this rights Issue.
About the company
Founded in 1975, La Tim Metal & Industries Limited manufactures pre-painted galvanized iron steel, pre-painted galvalume steel, and pre-painted cold rolled sheets. The company is also active in trading and specializes in products such as galvalume steel, galvanized steel, cold-rolled coils, aluminum-zinc alloy-coated steel sheets, and galvanized steel.
The company’s paint coating facility is located in Umargam, Gujarat, on a land area of 12,024 square meters with a capacity of over 90000 MTPA and is used for producing and processing high-quality Colour Coated and Design Coated Steel and aluminum coils and sheets (PPGI, PPGL, PPGA, PPEG, PPAL, PPCR, etc.). These products are used across various industries and are manufactured as per the specific requirements of customers.
The product range of the company includes
- Design coated steel
- Color Coated Steel
- Stone Coated Steel
- Self-Drilling Screws
Objectives of the Issue
- Working Capital Requirements; and
- Funding inorganic growth initiatives and other general corporate purposes.
La Tim Metal And Industries Rights Issue Timetable
| Last Date to buy shares | 01 January 2024 |
| Record Date | 02 January 2024 |
| Credit of Rights Entitlements | 08 January 2024 |
| Bid/Offer Opens On | 10 January 2024 |
| Renunciation of Rights Entitlements | 23 January 2024 |
| Bid/Offer Closes On | 29 January 2024 |
| Deemed Date of Allotment | 06 February 2024 |
| Credit Date | 07 February 2024 |
| Listing Date | 12 February 2024 |
La Tim Metal And Industries Rights Issue Details
| Issue Open | January 10, 2024 – January 29, 2024 |
| Security Name | La Tim Metal And Industries Limited |
| Issue Size (Shares) | 44,157,150 |
| Issue Size (Amount) | ₹37.53 Crores |
| Issue Price | ₹8.5 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | The amount of Rs. 4.25 per Rights Equity Share (including premium of Rs. 3.25) is to be paid on the Application. The balance of Rs 4.25 is to be paid on call as determined by the Board. |
| Entitlement | 1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 110.09 | 159.23 |
| Revenue | 273.32 | 569.76 |
| Profit After Tax | -7.50 | 17.98 |
| Net Worth | 27.71 | 35.18 |
| Reserves and Surplus | 18.88 | 26.35 |
| Total Borrowing | 46.54 | 40.32 |
La Tim Metal And Industries Rights Issue Documents
Lead Manager(s)
–
La Tim Metal And Industries Rights Issue Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Company Contact Information
La Tim Metal And Industries Limited
201, Navkar Plaza,
Bajaj Road,
Vile Parle (West), Mumbai-400 056
Phone: 022 26203399
Email: accounts@drillcometal.com
Website: https://www.latimmetal.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
