Nagreeka Exports Rights Issue will open for subscription from 12 February 2024. the company aims for an issue size of ₹37.50 Crores through this rights Issue.
About the company
Incorporated in 1989, Nagreeka Exports Limited produces and exports yarns, fabrics and textiles. The company’s product portfolio includes:
- 100% cotton yarns: combed, carded, open end, TFO doubled, compact yarns
- Specialty yarns: organic yarns, slub yarns, organic slub yarns, regular and reverse twist yarns, core spun yarns, chenille yarns, dyed/gassed/mercerized yarns, high twist yarns, viscose yarns – O.E./ringspun, polyester spun yarns, poly-viscose blends, polyester-cotton blends and viscose-cotton blends.
- Fabrics and textiles: These include raw, printed, and finished fabrics based on cotton or cellulose. They are available in the weights rib, jersey, interlock, fleece, pique, or polo.
The company’s production facility is located in Kolhapur, India, with spinning units of over 150,000 spindles.
Objectives of the Issue
- Repayment of borrowings availed in the form of unsecured loans from our Promoters, Sushil Patwari and Sunil Ishwarlal Patwari;
- Redemption of outstanding cumulative non-convertible redeemable preference shares held by the Promoter, Sushil Patwari;
- Funding capital expenditure of the company; and
- General corporate purposes.
Nagreeka Exports Rights Issue Timetable
| Last Date to buy shares | 29 January 2024 |
| Record Date | 30 January 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 12 February 2024 |
| Renunciation of Rights Entitlements | 19 February 2024 |
| Bid/Offer Closes On | 23 February 2024 |
| Deemed Date of Allotment | 05 March 2024 |
| Credit Date | 14 March 2024 |
| Listing Date | 19 March 2024 |
Nagreeka Exports Rights Issue Details
| Issue Open | February 12, 2024 – February 23, 2024 |
| Security Name | Nagreeka Exports Ltd. |
| Issue Size (Shares) | 18,749,550 |
| Issue Size (Amount) | ₹37.50 Crores |
| Issue Price | ₹20 per share |
| Face Value | ₹5 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The full amount of the Issue Price being Rs.20/- will be payable on application. |
| Entitlement | 3 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 | 31 Mar 2021 |
| Assets | 329.33 | 346.04 | 351.89 |
| Revenue | 390.79 | 552.65 | 385.32 |
| Profit After Tax | 3.03 | 6.19 | -8.32 |
| Net Worth | 111.05 | 109.12 | |
| Reserves and Surplus | 103.91 | 100.88 | 94.68 |
Nagreeka Exports Rights Issue Documents
Lead Manager(s)
- Prime Securities Limited
Nagreeka Exports Registrar
Maheshwari Datamatics Pvt. Ltd
Phone: 033 22435029 / 22482248
Email: mdpldc@yahoo.com
Website: http://www.mdpl.in
Company Contact Information
Nagreeka Exports Ltd.
7, Kala Bhawan,
3, Mathew Road,
Mumbai – 400004
Phone: +91-22-61447500,
Email: info@nagreeka.com
Website: https://nagreeka.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
