Sawaca Business Machines Rights Issue will open for subscription from 02 April 2024. the company aims for an issue size of ₹45.76 Crores through this rights Issue.
About the company
Established in 1994, Sawaca Business Machines Limited is an Ahmedabad-based company engaged in the trading and export of machinery and local trading of metal scrap and cotton bales. In Metal Trading, the company buys and sells various metals, including iron, steel, aluminum, copper, and other base metals. Sawaca Business Machines Limited trades in perfumery chemicals, metal scraps, and cotton bales. They offer aromatic chemicals, such as geraniol, arsinon, D lemonene, and musk 101, and essential oils, including orange oil, patcholi oil, and various industrial perfumery compounds.
Sawaca Business Machines Limited also provides technical support, software development, and resource deployment for projects. Its IT services segment offers technology solutions to clients from various industries. The company has been in IT consulting and support for years and recently launched a matrimonial website/portal called www.nextgenshaadi.com. As of 31 May 2023, the company has total of 7 employees in various departments.
Objectives of the Issue
- Incremental working capital requirements
- To meet General corporate purposes
Sawaca Business Machines Rights Issue Timetable
| Last Date to buy shares | 06 March 2024 |
| Record Date | 07 March 2024 |
| Credit of Rights Entitlements | 28 March 2024 |
| Bid/Offer Opens On | 02 April 2024 |
| Renunciation of Rights Entitlements | 08 April 2024 |
| Bid/Offer Closes On | 22 April 2024 |
| Deemed Date of Allotment | 19 April 2024 |
| Credit Date | 24 April 2024 |
| Listing Date | 26 April 2024 |
Sawaca Business Machines Rights Issue Details
| Issue Open | April 2, 2024 – April 22, 2024 |
| Security Name | Sawaca Business Machines Ltd. |
| Issue Size (Shares) | 457,639,600 |
| Issue Size (Amount) | ₹45.76 Crores |
| Issue Price | ₹1 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | Full Amount for Rights Equity Shares shall be payable by the eligible shareholders at the time of making an application. |
| Entitlement | 4 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 14.38 | 15.87 | 13.15 |
| Revenue | 3.65 | 3.82 | 3.67 |
| Profit After Tax | 0.55 | 0.41 | 0.22 |
| Net Worth | 12.91 | 12.77 | 12.37 |
| Reserves and Surplus | 0.93 | 1.97 | 1.75 |
Sawaca Business Machines Rights Issue Documents
Lead Manager(s)
Sawaca Business Machines Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightsissue@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Company Contact Information
Sawaca Business Machines Ltd.
45, Chinubhai Towers, Opp. Handloom House,
Ashram Road,
Ahmedabad – 380009
Phone: 079-2658 7363
Email: sawaca.business@yahoo.com
Website: https://www.sawacabusiness.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
