Seacoast Shipping Rights Issue will open for subscription from 21 July 2023. the company aims for an issue size of ₹48.48 Crores through this rights Issue.
About the company
Incorporated in 1982, Seacoast Shipping Services Limited is engaged in offering logistics services to exporters and importers. They initially started as freight forwarders and shipping agents in the year 2005. The offerings of the company revolves around Clearing & forwarding of export containers, FCL & Break-bulk, and Freight Broking, and having contracts with Major Shipping Companies.
Seacoast Shipping Services is one largest freight forwarders in Gujarat. The services offered by the company include-
- Coastal Trade
- Mining and Transportation
- Ship Chartering
- Warehousing and Transportation of FMCG product
- Freight Forwarding
- Complete Logistics solution under one roof
- Movements of liquid in dry containers using flexitanks
- Cargo Operations
Objectives of the Issue
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Seacoast Shipping Rights Issue Timetable
| Last Date to buy shares | 12 July 2023 |
| Record Date | 13 July 2023 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 21 July 2023 |
| Renunciation of Rights Entitlements | |
| Bid/Offer Closes On | 31 July 2023 |
| Deemed Date of Allotment | |
| Credit Date | |
| Listing Date |
Seacoast Shipping Rights Issue Details
| Issue Open | Jul 21, 2023 – Jul 31, 2023 |
| Security Name | Seacoast Shipping Services Ltd |
| Issue Size (Shares) | 202,005,000 |
| Issue Size (Amount) | ₹48.48 Crores |
| Issue Price | ₹2.4 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | The Issue Price of Rs. 2.40/- per Equity Share shall be payable at the time of application. |
| Entitlement | 3 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 148.75 | 243.16 | 11.10 |
| 31-Mar-22 | 247.62 | 127.81 | 2.55 |
Rights Issue Documents
Lead Manager(s)
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Rights Issue Registrar
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Company Contact Information
Seacoast Shipping Services Ltd
D-1202, Swati Crimson and Clover,
Shilaj Circle, Sardar Patel Ring Road,
Thaltej, Ahmedabad -380054
Phone: +91 – 9904884444
Email: mahaanimpex@gmail.com
Website: http://www.seacoastltd.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
