Parvati Sweetners and Power Rights Issue will open for subscription from 21 February 2023. the company aims for an issue size of ₹29.48 Crores through this rights Issue.
About the company
Incorporated in 2011, Parvati Sweetners and Power Limited are engaged in Sugar manufacturing. They operate from Madhya Pradesh and deliver their product across different regions. The Sugar plant of the company is located in Village Sankhini, Gwalior, Madhya Pradesh, which can crush up to 2500 MT of sugar per day. In its journey of over a decade, Parvati Sweetners has grown immensely and aims to become a leader in the growing Sugar market. The company supplies Sugar to various petroleum industries. Parvati Sweetners and Power Limited is led under the guidance of Ms. Poonam Chouksey. She is the Promoter and Managing Director of the company and contributes highly towards the growth and evolution of the company.
Objectives of the Issue
- Repayment of Unsecured Loans availed from the Promoters and members of the Promoter Group
- General corporate purposes.
Parvati Sweetners and Power Rights Issue Timetable
| Record Date | 08 February 2023 |
| Credit of Rights Entitlements | 13 February 2023 |
| Bid/Offer Opens On | 21 February 2023 |
| Renunciation of Rights Entitlements | 28 February 2023 |
| Bid/Offer Closes On | 08 March 2023 |
| Deemed Date of Allotment | 15 March 2023 |
| Credit Date | 16 March 2023 |
| Listing Date | 17 March 2023 |
Rights Issue Details
| Issue Open | Feb 21, 2023 – Mar 8, 2023 |
| Security Name | Parvati Sweetners and Power Ltd |
| Issue Size (Shares) | 58,963,835 |
| Issue Size (Amount) | ₹29.48 Crores |
| Issue Price | ₹5 per share |
| Face Value | ₹5 per share |
| Listing At | BSE |
| Terms of Payment | The full amount is payable on application. |
| Entitlement | 17 Equity Shares for every 26 existing Equity Shares held as on the Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-20 | 142.07 | 50.25 | 0.08 | 51.66 |
| 31-Mar-21 | 154.76 | 58.83 | 1.62 | 48.88 |
| 31-Mar-22 | 163.08 | 71.61 | 1.09 | 33.52 |
Rights Issue Documents
Lead Manager(s)
- ————————–
Rights Issue Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: http://www.purvashare.com
Company Contact Information
Parvati Sweetners and Power Ltd
Hall No. 2, Gomantika Parisar,
Shopping Complex, Jawahar Chowk,
Bhopal-462003
Phone: 91 – 0755-4236666
Email: info@parvatisweetners.com
Website: https://www.parvatisweetners.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
