SEPC Rights Issue will open for subscription from 05 July 2024. the company aims for an issue size of ₹200 Crores through this rights Issue.
About the company
SEPC Contractor specializes in turnkey contracts for Engineering, Procurement, and Construction (EPC) projects, offering comprehensive solutions and project management services. SEPC stands for “Solution Engineering Procurement Construction” and focuses on providing turnkey solutions in two main business areas:
- Infrastructure, including water and wastewater utilities, and road construction.
- Process and metallurgy, including process plants, steel mills, mine development, and power plants.
As of 31 December 2023, the company has a total order book of INR 1,085 crore. As of the same date, SEPC has 227 employees, including its executive directors, who oversee the business operations, management administrative, secretarial, marketing, and accounting functions following their respective goals.
Objectives of the Issue
- Repayment/Pre-payment, in full or part, of certain borrowings availed by the Company;
- To augment the existing and incremental working capital requirement of the Company; and
- General Corporate Purposes.
SEPC Rights Issue Timetable
| Last Date to buy shares | 24 June 2024 |
| Record Date | 25 June 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 05 July 2024 |
| Renunciation of Rights Entitlements | 12 July 2024 |
| Bid/Offer Closes On | 19 July 2024 |
| Deemed Date of Allotment | 24 July 2024 |
| Credit Date | 29 July 2024 |
| Listing Date | 31 July 2024 |
SEPC Rights Issue Details
l
| Issue Open | July 5, 2024 – July 19, 2024 |
| Security Name | SEPC Limited |
| Issue Size (Shares) | 153,846,153 |
| Issue Size (Amount) | ₹200.00 Crores |
| Issue Price | ₹13 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | |
| Entitlement | 6 Rights Equity Share(s) for every 55 fully paid-up Equity Shares held on Record Date |
SEPC Rights Issue Calculation
| SEPC Rights Issue Price | ₹ 13 per share |
| Market Price on Rights Issue Approval | ₹ 21.91 per share |
| Dilution Factor (X) | 1.11 |
| Fair Value After Dilution at Prevailing Price | INR 21.03 per share |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 531.93 | 302.79 | 378.85 |
| Expenses | 730.68 | 512.42 | 365.90 |
| Operating Margin (%) | (13.32) | (28.07) | 22.55 |
| Net Income | (179.47) | (263.70) | (4.90) |
| ROCE (%) | (2.00) | (2.00) | (3.00) |
Rights Issue Documents
SEPC Rights Issue Lead Manager(s)
SUMEDHA FISCAL SERVICES LIMITED
6A Geetanjali, 6th Floor,
8B Middleton Street, Kolkata – 700071
Tel: (033) 2229 8936/6813 5900
E-mail: rightsissue_mb@sumedhafiscal.com
Website: www.sumedhafiscal.com
SEPC Rights Issue Registrar
CAMEO CORPORATE SERVICES LIMITED
No. 01, Club House Road, Mount Road,
Chennai- 600 002, Tamil Nadu, India
Phone: +91 44 4002 0700/2846 0390
Email: rights@cameoindia.com
Website: www.cameoindia.com
Company Contact Information
SEPC LIMITED
4th Floor, Bascon Futura SV, IT Park,
Venkata Narayana Road, Parthasarathy Puram,
T. Nagar Chennai – 600 017, Tamil Nadu, India
Phone: +91 44 4900 5555
Email: info@sepc.in
Website: www.sepc.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
