Rapid Investments Rights Issue will open for subscription from 26 September 2024. the company aims for an issue size of ₹8.40 Crores through this rights Issue.
About the company
Established in 1978, Rapid Investments is involved in financial services, including loan granting and investment activities. Services offered by Rapid Investments Ltd include:
- a) Investments in shares, stocks, debentures, bonds, and other securities issued or guaranteed by companies.
- b) Receiving money or deposits and providing loans.
- c) Engaging in general finance, safe deposit, trust, and guaranteeing industrial enterprises.
- d) Offering financial advisory services, including mutual fund investments and loans against property.
Previously, the company also dealt with ferrous and non-ferrous metals, vehicle trading, re-rollers, and agricultural products. The minimum Net Owned Funds (NOF) requirement for NBFC companies to obtain a Certificate of Registration (COR) from the Reserve Bank of India to commence or carry on business as an NBFC is INR 200 lakhs. As of 31 December 2023, the company had 18 full-time employees.
Objectives of the Issue
- To augment the capital base
- General corporate purposes
- To meet Issue related expenses
Rapid Investments Rights Issue Timetable
| Rights Issue Approval Date | 11 September 2024 |
| Rights Issue Record Date | 18 September 2024 |
| Credit of Rights Entitlement | 24 September 2024 |
| Rights Issue Opening Date | 26 September 2024 |
| Last Date for Market Renunciation | 4 October 2024 |
| Rights Issue Closing Date | 10 October 2024 |
| Finalization of Basis of Allotment | 15 October 2024 |
| Rights Allotment Date | 16 October 2024 |
| Credit Date | 18 October 2024 |
| Listing Date | 18 October 2024 |
Rapid Investments Rights Issue Details
| Issue Open | September 26, 2024 – October 10, 2024 |
| Security Name | Rapid Investments Ltd. |
| Issue Size (Shares) | 839,744 |
| Issue Size (Amount) | ₹8.40 Crores |
| Issue Price | ₹100 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The entire amount of Rs 100 (including a premium of Rs 90) is payable at the time of application |
| Entitlement | 25 Rights Equity Share(s) for every 39 fully paid-up Equity Shares held on Record Date |
Rapid Investments Rights Issue Calculation
| Rapid Investments Rights Issue Price | ₹ 100 per share |
| Market Price on Rights Issue Approval | ₹ 121.1 per share |
| Dilution Factor (X) | 1.64 |
| Fair Value After Dilution at Prevailing Price | ₹ 112.92 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 0.48 | 0.31 | 1.93 |
| Expenses | 0.49 | 0.29 | 1.42 |
| OPM (%) | (2.08) | 6.45 | 26.42 |
| Net income | 0.00 | 0.04 | 0.20 |
| ROCE (%) | 0.39 | 3.06 | 23.35 |
Rapid Investments Rights Issue Documents
- Rapid Investments Rights Issue Application Form
- Rapid Investments Letter of Offer
- Board Meeting Outcome
Lead Manager(s)
Rapid Investments Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: rapidinvestments.rights@linkintime.co.in
Website: www.linkintime.co.in
Company Contact Information
RAPID INVESTMENTS LTD.
107, Turf Estate Off Dr E Moses Road,
Shakti Mill Lane Mahalaxmi, Mumbai 400011
Phone: 9322687149
E-mail: investors@rapidinvestments.co.in
Website: www.rapidinvestments.co.in
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
