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 shares | 06 May 2024 |
| Record Date | 07 May 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 15 May 2024 |
| Renunciation of Rights Entitlements | 21 May 2024 |
| Bid/Offer Closes On | 27 May 2024 |
| Deemed Date of Allotment | 30 May 2024 |
| Credit Date | 05 June 2024 |
| Listing Date | 06 June 2024 |
Sanginita Chemicals Rights Issue Details
| Issue Open | May 15, 2024 – May 27, 2024 |
| Security Name | Sanginita 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 At | NSE |
| Terms of Payment | The full amount for Rights Equity Shares of Rs.18 shall be payable by the eligible shareholders at the time of making an application. |
| Entitlement | 1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 164 | 197 | 149 |
| Expenses | 160 | 195 | 145 |
| Operating Margin (%) | 2.0 | 1.0 | 2.0 |
| Net Income | 0.76 | 0.35 | 0.43 |
| ROCE (%) | 5.0 | 4.0 | 4.0 |
Sanginita Chemicals Rights Issue Documents
Lead Manager(s)
FINTELLECTUAL CORPORATE ADVISORS PRIVATE LIMITED
204, Kanishka Shopping Complex,
Mayur Vihar, Phase 1, Extension, Delhi – 110091
Phone: +91 11 48016991
Email: info@fintellectualadvisors.com
Website: www.fintellectualadvisors.com
Rights Issue Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone: +91-022-49614132/ 35220056
Email: newissue@purvashare.com
Website: www.purvashare.com
Company Contact Information
SANGINITA CHEMICALS LIMITED
301, 3rd Floor, Shalin Complex, Sector -11,
Gandhinagar – 382 011, Gujarat, India
Phone: +91 79 23240270
Email: sanginitachemicals@yahoo.com
Website: www.sanginitachemicals.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
