Mangalam Industrial Finance Rights Issue will open for subscription from 12 February 2024. the company aims for an issue size of ₹48.94 Crores through this rights Issue.
About the company
Established in 1983, Mangalam Industrial Finance Limited (MIFL) is a non-banking financial company (NBFC) providing financial solutions and services and is registered with the RBI in Kolkata. MIFL offers loans for land, machinery, and sheds and earns revenue from interest, fees, and commission As of December 31, 2023, the company had 12 employees including directors.
Objectives of the Issue
- To augment the capital base and provide for the fund requirements for increasing the operational scale of its NBFC activities; and
- General Corporate Purposes.
Mangalam Industrial Finance Rights Issue Timetable
| Last Date to buy shares | 25 January 2024 |
| Record Date | 29 January 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 12 February 2024 |
| Renunciation of Rights Entitlements | 20 February 2024 |
| Bid/Offer Closes On | 26 February 2024 |
| Deemed Date of Allotment | 06 March 2024 |
| Credit Date | 11 March 2024 |
| Listing Date | 13 March 2024 |
Mangalam Industrial Finance Rights Issue Details
| Issue Open | February 12, 2024 – February 26, 2024 |
| Security Name | Mangalam Industrial Finance Ltd |
| Issue Size (Shares) | 123,892,721 |
| Issue Size (Amount) | ₹48.94 Crores |
| Issue Price | ₹3.95 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.3.95 is payable on Application. |
| Entitlement | 21 Rights Equity Share(s) for every 163 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 28.66 | 34.71 | 32.30 |
| Revenue | 1.33 | 1.17 | 2.05 |
| Profit After Tax | -5.01 | 1.34 | 0.67 |
| Net Worth | 28.34 | 33.39 | 32.05 |
Mangalam Industrial Finance Rights Issue Documents
Lead Manager(s)
Mangalam Industrial Finance Registrar
Mangalam Industrial Finance Ltd
Old Nimta Road,
Nandan Nagar,
Belghoria, Kolkata,-700 083
Phone: +91 7203948909
Email: compliance@miflindia.com
Website: https://www.miflindia.com/
Company Contact Information
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/queries/
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
