Luharuka Media and Infra Rights Issue will open for subscription from 14 August 2024. the company aims for an issue size of ₹28.12 Crores through this rights Issue.
About the company
Luharuka Media & Infra Limited (LMIL) is a Non-Banking Financial Company (NBFC) that primarily focuses on providing inter-corporate loans, personal loans, loans against shares & securities, loans against properties, mortgage loans, auto/home loans, trade financing, bills discounting, and trading in shares & securities. The company positions itself between the organized banking sector and local money lenders, offering customers competitive, flexible, and timely lending services.
Moreover, LMIL engages in trade financing and bill discounting to help businesses manage their cash flow and operational expenses. The company also trades in shares and securities, providing clients with opportunities to invest in the capital markets.
Objectives of the Issue
- To augment the capital base and increase the operational scale concerning our NBFC activities.
- General Corporate Purposes.
- To meet the expenses of the Issue
Luharuka Media and Infra Rights Issue Timetable
| Rights Issue Approval Date | 29 July 2024 |
| Rights Issue Record Date | 02 August 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 14 August 2024 |
| Last Date for Market Renunciation | 22 August 2024 |
| Rights Issue Closing Date | 28 August 2024 |
| Finalization of Basis of Allotment | 02 September 2024 |
| Rights Allotment Date | 03 September 2024 |
| Credit Date | 05 September 2024 |
| Listing Date | 06 September 2024 |
Luharuka Media and Infra Rights Issue Details
| Issue Open | August 14, 2024 – August 28, 2024 |
| Security Name | Luharuka Media and Infra Limited |
| Issue Size (Shares) | 93,720,000 |
| Issue Size (Amount) | ₹28.12 Crores |
| Issue Price | ₹3 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | All money payable at the time of Application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Luharuka Media and Infra Rights Issue Calculation
| Luharuka Media and Infra Rights Issue Price | ₹ 3 per share |
| Market Price on Rights Issue Approval | ₹ 6.60 per share |
| Dilution Factor (X) | 2 |
| Fair Value After Dilution at Prevailing Price | ₹ 4.80 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 1.68 | 1.93 | 1.63 |
| Expenses | 0.74 | 0.65 | 0.75 |
| Operating Margin (%) | 55.95 | 66.32 | 53.99 |
| Net Income | 0.57 | 0.67 | 0.61 |
| ROCE (%) | 5.31 | 7.24 | 5.84 |
Rights Issue Documents
Luharuka Media and Infra Rights Issue Lead Manager(s)
COMFORT SECURITIES LIMITED
A-301 Wing, Hetal Arch, Malad West,
Mumbai – 400064, Maharashtra, India
Phone: +91 22 6894 8500
E-mail: compliance@comfortsecurities.co.in
Website: www.comfortsecurities.co.in
Luharuka Media and Infra Registrar
ADROIT CORPORATE SERVICES PVT. LTD
B 18-20, 1st floor, Plot No 639, Makwana Road,
Marol, Andheri (E), Mumbai – 400 059. Maharashtra
Phone: +91 22 42270400
E-mail: divyan@adroitcorporate.com
Website: www.adroitcorporate.com
Company Contact Information
LUHARUKA MEDIA & INFRA LIMITED
A-301, Hetal Arch, Opp. Natraj Market,
S. V. Road, Malad (West), Mumbai – 400 064
Phone: +91 022 6894 8508/9
E-mail: info@luharukamediainfra.com
Website: www.luharukamediainfra.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
