Raj Oil Mills Rights Issue will open for subscription from 21 February 2023. the company aims for an issue size of ₹44.97 Crores through this rights Issue.
About the company
Incorporated in 2001, Raj Oil Mills Limited is engaged in the business of crushing, refining, and oil filtration of various types of oils. The process oils like coconut oil, groundnut oil, sunflower oil, mustard oil, and various other oil products. The Company is running the oil filtration process plant in-house and caters to the requirements of its customers. They buy different types of raw filtered and refined edible oil from suppliers, do the oil filtration process and deliver the final products through their business partners i.e., super stockiest and distributors.
Raj Oil Mills has set up a quality control facility at the manufacturing unit to ensure the supply of quality products in each of its products. The products of the company are sold under three brands viz., ‘Guinea’ ‘Cocoraj’, and ‘Raj’ such as “Tilraj”, “Mustraj” and “Divya Shakti”. These brands existence in the market for over 7 decades.
The Company’s vision is to focus to manufacture and supply superior quality products to end customers, and the same has enabled them to expand the business operations domestically. On the board of Directors of Raj Oil Mills Limited, there are 12 directors who contribute to the growth of the company with their distinct skills and expertise in different segments. Atikurraheman Daudbhai Mukhi is the Managing Director of the company.
Objectives of the Issue
- Repayment or pre-payment in full or part, unsecured loans availed by our Company from Promoter, Promoter Group, and Directors of our Company;
- To augment the existing and incremental working capital requirement of our Company; and
- General Corporate Purposes
Rights Issue Timetable
| Record Date | 09 February 2023 |
| Credit of Rights Entitlements | 15 February 2023 |
| Bid/Offer Opens On | 21 February 2023 |
| Renunciation of Rights Entitlements | 06 February 2023 |
| Bid/Offer Closes On | 13 February 2023 |
| Deemed Date of Allotment | 20 February 2023 |
| Credit Date | 23 February 2023 |
| Listing Date | 27 February 2023 |
Raj Oil Mills Rights Issue Details
| Issue Open | Feb 21, 2023 – Mar 13, 2023 |
| Security Name | Raj Oil Mills Limited |
| Issue Size (Shares) | 14,988,684 |
| Issue Size (Amount) | ₹44.97 Crores |
| Issue Price | ₹30 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | 100% of the issue price shall be payable on application. |
| Entitlement | 1 Rights Equity Share For Every 1 Fully Paid-Up Equity Shares Held |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 32.48 | 98.87 | 5.27 |
| 31-Mar-22 | 35.57 | 118.61 | 2.6 |
Rights Issue Documents
Lead Manager(s)
- Saffron Capital Advisors Private Limited
Rights Issue Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightsissue@bigshareonline.com
Website: http://www.bigshareonline.com
Company Contact Information
Raj Oil Mills Limited
224 – 230,
Bellasis Road,
Mumbai – 400 008
Phone: +91 22 23021996/7/8
Email: cs@rajoilmillsltd.com
Website: http://www.rajoilmillsltd.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
