Nirman Agri Genetics Rights Issue will open for subscription from 05 August 2024. the company aims for an issue size of ₹48.97 Crores through this rights Issue.
About the company
Nirman Agri Genetics is a leading agri-input company in India, engaged in the production, processing, and marketing of high-quality hybrid seeds, pesticides, and bio-organic products for various crops such as corn, sunflower, cotton, paddy, and grain sorghum. Recently, the company has expanded into micronutrients and bio-products. Additionally, it produces non-hybrid seeds, primarily for paddy.
The company currently has production, outsourced processing, and R&D facilities in Maharashtra at Nashik and Nimgul, as well as in Gujarat and Madhya Pradesh. Its research primarily focuses on developing superior hybrids in various crops, including corn, cotton, sunflower, paddy, and bajra. Nirman Agri Genetics’ focus is to become a leading crop solutions provider to the farmer by supplying high-yielding hybrid seeds and crop management through micronutrients, bioproducts, etc.
In 2022, the company began to market bio-pesticides, bio-fertilizers, micronutrients, fertilizer mixtures & plant growth regulators under the name of ‘Nirman Agri Genetics’.
Objectives of the Issue
- To augment the existing and incremental working capital requirement of the company
- General Corporate Purposes
Nirman Agri Genetics Rights Issue Timetable
| Rights Issue Approval Date | 22 July 2024 |
| Rights Issue Record Date | 29 July 2024 |
| Credit of Rights Entitlement | 19 August 2024 |
| Rights Issue Opening Date | 05 August 2024 |
| Last Date for Market Renunciation | 19 August 2024 |
| Rights Issue Closing Date | 23 August 2024 |
| Finalization of Basis of Allotment | 28 August 2024 |
| Rights Allotment Date | 30 August 2024 |
| Credit Date | 06 September 2024 |
| Listing Date | 04 September 2024 |
Nirman Agri Genetics Rights Issue Details
| Issue Open | August 5, 2024 – August 23, 2024 |
| Security Name | Nirman Agri Genetics Limited |
| Issue Size (Shares) | 2,049,025 |
| Issue Size (Amount) | ₹48.97 Crores |
| Issue Price | ₹239 per share |
| Face Value | ₹10 per share |
| Listing At | NSE |
| Terms of Payment | The entire amount of the Issue Price of ₹ 239/- per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 11 Rights Equity Share(s) for every 32 fully paid-up Equity Shares held on Record Date |
Nirman Agri Rights Issue Calculation
| Nirman Agri Rights Issue Price | ₹ 239 per share |
| Market Price on Rights Issue Approval | ₹ 415.75 per share |
| Dilution Factor (X) | 1.34 |
| Fair Value After Dilution at Prevailing Price | ₹ 370.53 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 13.00 | 29.00 | 63.00 |
| Expenses | 10.00 | 24.00 | 52.00 |
| Operating Margin (%) | 25.00 | 15.00 | 18.00 |
| Net Income | 2.56 | 4.00 | 10.40 |
| ROCE (%) | 133.0 | 27.0 | 33.0 |
Rights Issue Documents
Lead Manager(s)
–
Nirman Agri Genetics 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, Maharashtra
Phone: 022 – 6263 8200
E-mail: ipo@bigshareonline.com
Website: www.bigshareonline.com
Company Contact Information
NIRMAN AGRI GENETICS LIMITED
Vedant Apartment, Near Reliance Shopee,
Dindori Road, Panchavati, Nashik – 422 003 Maharashtra
Phone: +91 253 2943101
E-mail: admin@nirmanagrigen.com
Website: www.nirmanagrigen.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
