Mitsu Chem Plast Rights Issue

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 shares16 February 2024
Record Date17 February 2024
Credit of Rights Entitlements
Bid/Offer Opens On26 February 2024
Renunciation of Rights Entitlements29 February 2024
Bid/Offer Closes On05 March 2024
Deemed Date of Allotment12 March 2024
Credit Date13 March 2024
Listing Date15 March 2024

Mitsu Chem Plast Rights Issue Details

Issue OpenFebruary 26, 2024 – March 5, 2024
Security NameMitsu 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 AtBSE
Terms of PaymentIssue 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.
Entitlement1 Rights Equity Share(s) for every 8 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax2.8511.8011.509.69
Net Worth65.0362.4250.92
Reserves and Surplus50.3538.8427.58
Total Borrowing81.8677.0967.15
(Amount in ₹ Crore)

Mitsu Chem Plast Rights Issue Documents

Lead Manager(s)

Mitsu Chem Plast Rights Issue Registrar

Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200

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

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

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