Nandani Creation Rights Issue will open for subscription from 12 July 2024. the company aims for an issue size of ₹15.98 Crores through this rights Issue.
About the company
Incorporated in 2012, Nandani Creation designs manufactures, distributes, and markets Indian clothing for women through several brands: its flagship brand ‘Jaipur Kurti,’ its premium brand ‘Amaiva– By Jaipur Kurti,’ ‘Jaipur Kurti Luxe,’ and ‘Desi Fusion.’ The company offers apparel in categories such as ethnic wear, fusion wear, bottom wear, loungewear, and winter wear. Its product portfolio includes Kurtis, Palazzo, Patiala Salwar Suits, Dupattas, Kurta Sets, Tops, Co-ord Sets, Suit Sets, Skirts, Jumpsuits, Shirts, Jackets, Pants, and Dresses.
The company offers its products through a multi-channel distribution network across India. This includes exclusive brand outlets (EBOs), its own D2C website www.jaipurkurti.com, and a presence on major e-commerce platforms like Myntra, Nykaa Fashion, Ajio, Tata Cliq, Amazon, and Flipkart. Recently, the company has also started building a network of multi-brand outlets (MBOs) by opening SIS outlets in various cities such as Varanasi, Lucknow, Haridwar, Gorakhpur, Punjab, Shimla, Chandigarh, and Jammu & Kashmir.
Objectives of the Issue
- To augment the existing and incremental working capital requirement of the company;
- Investment in our Subsidiary, Desi Fusion Private Limited (DFPL) for funding its Working Capital Requirement; and
- General corporate purposes.
Nandani Creation Rights Issue Timetable
| Rights Issue Approval Date | 28 June 2024 |
| Rights Issue Record Date | 4 July 2024 |
| Credit of Rights Entitlement | 11 July 2024 |
| Rights Issue Opening Date | 12 July 2024 |
| Last Date for Market Renunciation | 18 July 2024 |
| Rights Issue Closing Date | 26 July 2024 |
| Finalization of Basis of Allotment | 29 July 2024 |
| Rights Allotment Date | 30 July 2024 |
| Credit Date | 30 July 2024 |
| Listing Date | 5 August 2024 |
Nandani Creation Rights Issue Details
| Issue Open | July 12, 2024 – July 26, 2024 |
| Security Name | Nandani Creation Limited |
| Issue Size (Shares) | 5,327,656 |
| Issue Size (Amount) | ₹15.98 Crores |
| Issue Price | ₹30 per share |
| Face Value | ₹10 per share |
| Listing At | NSE |
| Terms of Payment | The entire amount of the Issue Price of ₹30/- per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 100 Rights Equity Share(s) for every 224 fully paid-up Equity Shares held on Record Date |
Nandani Creation Rights Issue Calculation
| Nandani Creation Rights Issue Price | ₹ 30 per share |
| Market Price on Rights Issue Approval | ₹ 46.47 per share |
| Dilution Factor (X) | 1.45 |
| Fair Value After Dilution at Prevailing Price | ₹ 41.39 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 62.64 | 48.84 | 45.11 |
| Expenses | 59.75 | 44.88 | 40.81 |
| Operating Margin (%) | 4.61 | 8.11 | 9.53 |
| Net Income | 0.50 | 0.11 | 0.55 |
| ROCE (%) | 7.02 | 7.21 | – |
Rights Issue Documents
- Nandani Creation Rights Issue Application Form
- Nandani Creation Letter of Offer
- Board Meeting Outcome
Nandani Creation Rights Issue Lead Manager(s)
SRUJAN ALPHA CAPITAL ADVISORS LLP
112A, 1st floor, Arun Bazar, S.V. Road,
Beside Bank of India, Malad (West), Mumbai – 400 064
Phone: +91 022-46030709
Email: nandani.rightsissue@srujanalpha.com
Website: www.srujanalpha.com
Nandani Creation Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali Caves Road,
Andheri (East), Mumbai 400 093
Telephone: +91 22-62638200/22
Email: rightsissue@bigshargonline.com
Website: www.bigshargonline.com
Company Contact Information
NANDANI CREATION LIMITED
G-13, Kartarpura Industrial Area,
Near 22 Godam Jaipur 302006, Rajasthan
Phone: +91 0141-4037596
E-mail: info@jaipurkurti.com
Website: www.nandanicreation.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
