Rushil Decor Rights Issue will open for subscription from 02 May 2023. the company aims for an issue size of ₹107.49 Crores through this rights Issue.
About the company
Incorporated in 1993, Rushil Decor Limited is a flagship company of the Rushil Group that manufactures Decorative Laminated Sheets, Medium Density Fibre Board, and a Poly Vinyl Chloride Board. The Company currently owns five manufacturing facilities out of which three manufacturing units are located in Gujarat and one each in Karnataka and Andhra Pradesh respectively. Each of these facilities has the ability to manufacture various ranges and sizes of Laminated Sheets, Medium Density Fibre boards, and Poly Vinyl Chloride Foam boards.
The company also has an in-house design team that is responsible for creating new designs for products as per the market demand. Rushil Decor’s brands include “VIR LAMINATE”, “VIR MDF”, “VIR PROPLUS”, “VIR MAXPRO”, “VIR PRELAM MDF”, “VIR PVC” and “VIR STUDIO”. The company has operations in Kenya, Kuwait, Qatar, South Africa, Sri Lanka, UAE, Nepal, and other countries.
Objectives of the Issue
- Repayment or pre-payment in full or part, of certain identified unsecured loans availed by the company from the Promoter and members of the Promoter Group.
- To augment the existing and incremental working capital requirement and general corporate purposes.
Rights Issue Timetable
| Last Date to buy shares | 12 April 2023 |
| Record Date | 13 April 2023 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 02 May 2023 |
| Renunciation of Rights Entitlements | 08 May 2023 |
| Bid/Offer Closes On | 12 May 2023 |
| Deemed Date of Allotment | |
| Credit Date | |
| Listing Date |
Rushil Decor Rights Issue Details
| Issue Open | May 2, 2023 – May 12, 2023 |
| Security Name | Rushil Decor Limited |
| Issue Size (Shares) | 6,635,421 |
| Issue Size (Amount) | ₹107.49 Crores |
| Issue Price | ₹162 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The entire amount of the issue price of ₹ 162/- per rights equity share shall be payable at the time of application. |
| Entitlement | 1 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 808.43 | 339.77 | 13.72 |
| 31-Mar-22 | 886.76 | 625.58 | 22.80 |
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: https://www.bigshareonline.com/
Company Contact Information
Rushil Decor Limited
S. No. 125, Near Kalyanpura Patia,
Gandhinagar Mansa Road, Kalol,
Village Itla, Gandhinagar – 382 845
Phone: +91 98 2543 8039
Email: ipo@rushil.com
Website: http://www.rushil.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
