Sanginita Chemicals Rights Issue

Sanginita Chemicals Rights Issue will open for subscription from 15 May 2024. the company aims for an issue size of ₹15.54 Crores through this rights Issue.

About the company

Founded in 2005, Sanginita Chemicals produces and exports a variety of chemical products such as cuprous chloride, copper sulfate, copper phthalocyanine blue (CPC), and cupric chloride. The company caters to the surface coatings industry, offering an extensive range of products used in decorative and industrial paints, protective coatings, printing inks, and adhesives.

Currently, Sanginita Chemicals manufactures three main products: Cuprous Chloride, Copper Sulphate, and Cupric Chloride. These products have annual production capacities of 6,000,000 kg, 5,400,000 kg, and 350,000 kg respectively. They are used in various industries such as dyes and pigments, paints, pharmaceuticals, electroplating, metal extraction, and in the production of inks, carbon paper, and PVC pipe coatings. As of 1 May 2024, the company has a total workforce of 56 employees, including both workers and contractual laborers, across various departments.

Objectives of the Issue

  • Working Capital Requirement;
  • Capital Expenditure;
  • General Corporate Purpose; and
  • Issue Expenses.

Sanginita Chemicals Rights Issue Timetable

Last Date to buy shares06 May 2024
Record Date07 May 2024
Credit of Rights Entitlements
Bid/Offer Opens On15 May 2024
Renunciation of Rights Entitlements21 May 2024
Bid/Offer Closes On27 May 2024
Deemed Date of Allotment30 May 2024
Credit Date05 June 2024
Listing Date06 June 2024

Sanginita Chemicals Rights Issue Details

Issue OpenMay 15, 2024 – May 27, 2024
Security NameSanginita Chemicals Limited
Issue Size (Shares)8,633,850
Issue Size (Amount)₹15.54 Crores
Issue Price₹18 per share
Face Value₹10 per share
Listing AtNSE
Terms of PaymentThe full amount for Rights Equity Shares of Rs.18 shall be payable by the eligible shareholders at the time of making an application.
Entitlement1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date

Company Financials

 FY 2021FY 2022FY 2023
Operating Margin (%)
Net Income0.760.350.43
ROCE (%)
(Amount in ₹ Crore)

Sanginita Chemicals Rights Issue Documents

Lead Manager(s)

204, Kanishka Shopping Complex,
Mayur Vihar, Phase 1, Extension, Delhi – 110091
Phone: +91 11 48016991

Rights Issue Registrar

9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone: +91-022-49614132/ 35220056

Company Contact Information

301, 3rd Floor, Shalin Complex, Sector -11,
Gandhinagar – 382 011, Gujarat, India
Phone: +91 79 23240270

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

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