Shraddha Prime Projects Rights Issue

Shraddha Prime Projects Rights Issue will open for subscription from 10 July 2023. the company aims for an issue size of ₹49.88 Crores through this rights Issue.

About the company

Incorporated in 1993, Shraddha Prime Projects Limited is an integrated construction and real estate development company, primarily focused on the construction and development of residential and commercial projects, in and around Mumbai, Maharashtra. The “Shraddha Group” brand has established a successful track record in the real estate industry in Mumbai and Pune. They engaged in developing real estate projects by focussing on innovative architecture, strong project execution, and quality construction. Broady Shraddha Group undertakes the business of real estate involving developing, leasing, constructing, redevelopment, etc. various residential and commercial projects.

Objectives of the Issue

  • Repayment of Unsecured Loan;
  • General Corporate Expense

Rights Issue Timetable

Last Date to buy shares30 June 2023
Record Date03 July 2023
Credit of Rights Entitlements07 July 2023
Bid/Offer Opens On10 July 2023
Renunciation of Rights Entitlements19 July 2023
Bid/Offer Closes On24 July 2023
Deemed Date of Allotment28 July 2023
Credit Date01 August 2023
Listing Date03 August 2023

Shraddha Prime Projects Rights Issue Details

Issue OpenJul 10, 2023 – Jul 24, 2023
Security NameShraddha Prime Projects Limited
Issue Size (Shares)16,625,020
Issue Size (Amount)₹49.88 Crores
Issue Price₹30 per share
Face Value₹10 per share
Listing AtBSE
Terms of PaymentThe full amount of Rs. 30 on Rights Equity Shares will be payable on the application.
Entitlement365 Rights Equity Share(s) for every 100 fully paid-up Equity Shares held on Record Date

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After Tax
(Amount in ₹ Crore)

Rights Issue Documents

Lead Manager(s)

Rights Issue Registrar

Rcmc Share Registry Private Limited
Phone: (91) 120 4015880

Company Contact Information

Shraddha Prime Projects Limited
A-309, Kanara Business Centre Premises CS Limited,
Link Road, Laxmi Nagar,
Ghatkopar (East), Mumbai – 400 075

Phone: 022 21646000

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

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