Savani Financials Limited Rights Issue will open for subscription from 02 May 2024. the company aims for an issue size of ₹49.50 Crores through this rights Issue.
About the company
Established in 1987, Savani Financials specializes in offering financial services. The company is registered as a Non-Systematically Important Non-Deposit Accepting Non-Banking Financial Investment and Credit Company. It provides a variety of investment and financial services to its clients.
With a strategic focus on utilizing cutting-edge technology and innovative financial products, Savani Financials aims to meet the unique needs of MSMEs by offering them accessible and customized financial solutions. The company did not make any investments, provide any guarantees or securities, or grant any loans or advances, whether secured or unsecured, to any person or entity.
Objectives of the Issue
- To augment the capital base;
- Repay the Unsecured loan along with interest of Rs. 1.98 lakhs to the Director post the completion of the Rights issue, a sum estimated at as of Rs. 91.98 Lakhs.
- General Corporate Purposes
Savani Financials Limited Rights Issue Timetable
| Last Date to buy shares | 03 April 2024 |
| Record Date | 04 April 2024 |
| Credit of Rights Entitlements | 30 April 2024 |
| Bid/Offer Opens On | 02 May 2024 |
| Renunciation of Rights Entitlements | 07 May 2024 |
| Bid/Offer Closes On | 10 May 2024 |
| Deemed Date of Allotment | 18 May 2024 |
| Credit Date | 22 May 2024 |
| Listing Date | 24 May 2024 |
Savani Financials Limited Rights Issue Details
| Issue Open | May 2, 2024 – May 10, 2024 |
| Security Name | Savani Financials Ltd. |
| Issue Size (Shares) | 28,285,714 |
| Issue Size (Amount) | ₹49.50 Crores |
| Issue Price | ₹17.5 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.17.50 is to be paid as Rs.14/- per share on Application and Rs.3.50 per share on One or more subsequent Calls |
| Entitlement | 7 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 12.76 | 11.34 | 11.10 |
| Expenses | 8.21 | 9.59 | 15.72 |
| Operating Margin (%) | 38.46 | 18.18 | (63.64) |
| Net income | 4.55 | 1.51 | (7.36) |
| ROCE (%) | 2.34 | 0.92 | (3.27) |
Rights Issue Documents
- Savani Financials Rights Issue Application Form
- Savani Financials Letter of Offer
- Board Meeting Outcome
Lead Manager(s)
Rights Issue Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: rightsissue@bigshareonline.com
Website: www.bigshareonline.com
Company Contact Information
SAVANI FINANCIALS LIMITED
602, Samarth Vaibhav CHS Limited, Off-Link Road,
Lokhandwala Complex, Andheri, Mumbai 400 053
Phone: +91 98209 04374
Email: info@savanifinancials.co.in
Website: www.savanifinancials.co.in
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
