Mitsu Chem Plast Rights Issue will open for subscription from 26 February 2024. the company aims for an issue size of ₹21.73 Crores through this rights Issue.
About the company
Incorporated in 1990, Mitsu Chem Plast Limited is a company that specializes in producing plastic products using the blow-molding and injection-molding manufacturing processes. The company has three manufacturing facilities out of which two are situated in Tarapur and one is situated in Khalapur. The company has increased its manufacturing capacity from of third unit from 10872 MTPA to 13179 MTPA.
The product portfolio of the company consists of Industrial containers, Healthcare furniture, Automotive components, HDPE jars, Chair parts, Plastic bottles, etc. The company’s products are made through injection molding and blow molding. Mitsu Chem Plast also offers customized molding to meet customer needs.
Objectives of the Issue
- Repayment/pre-payment, in full or part, of certain borrowings availed by the company;
- Funding working capital requirements of the company; and
- General corporate purposes
Mitsu Chem Plast Rights Issue Timetable
| Last Date to buy shares | 16 February 2024 |
| Record Date | 17 February 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 26 February 2024 |
| Renunciation of Rights Entitlements | 29 February 2024 |
| Bid/Offer Closes On | 05 March 2024 |
| Deemed Date of Allotment | 12 March 2024 |
| Credit Date | 13 March 2024 |
| Listing Date | 15 March 2024 |
Mitsu Chem Plast Rights Issue Details
| Issue Open | February 26, 2024 – March 5, 2024 |
| Security Name | Mitsu Chem Plast Ltd |
| Issue Size (Shares) | 1,509,075 |
| Issue Size (Amount) | ₹21.73 Crores |
| Issue Price | ₹144 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.144/- per Rights Equity Share (including a premium of Rs.134/- per Rights Equity Share). The amount of Rs.72/- per Rights Equity Share (including premium of Rs.67/-) to be paid on Application. Balance to be paid on one call, as may be decided by Board/ the Rights issue Committee of the Board. |
| Entitlement | 1 Rights Equity Share(s) for every 8 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 174.71 | 177.02 | 144.09 | 124.57 |
| Revenue | 156.00 | 309.33 | 258.86 | 179.45 |
| Profit After Tax | 2.85 | 11.80 | 11.50 | 9.69 |
| Net Worth | 65.03 | 62.42 | 50.92 | |
| Reserves and Surplus | 50.35 | 38.84 | 27.58 | |
| Total Borrowing | 81.86 | 77.09 | 67.15 |
Mitsu Chem Plast Rights Issue Documents
Lead Manager(s)
Mitsu Chem Plast Rights Issue Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightsissue@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Company Contact Information
Mitsu Chem Plast Ltd
329, Gala Complex 3rd floor,
Din Dayal Upadhyay Marg, Mulund (W),
Mumbai – 400 080
Phone: +91-22-25920055
Email: mcpl@mitsuchem.com
Website: https://www.mitsuchem.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
