Shree Ajit Pulp and Paper Rights Issue will open for subscription from 30 January 2024. the company aims for an issue size of ₹28.57 Crores through this rights Issue.
About the company
Shree Ajit Pulp and Paper Limited was incorporated in March 1995 and is engaged in the manufacture of high-quality kraft paper. The company produces over 108000 tons of kraft paper/test liner/ multilayer test liner/ fluting medium paper annually. The company manufactures a wide range of export-quality kraft paper with a GSM range of 80 GSM to 300 GSM and a BF range of 20 BF to 35 BF. The kraft paper is available in two shades: natural shade kraft paper and golden shade kraft paper (Ajit Gold Shade). The company’s product is mainly used for the production of packaging boxes, cartons, paper bags, and other related products. All products are making from 100% recycled materials.
The Company has two manufacturing units, Unit – I and Unit – II, located at Survey No. 239, village Salvav, Morai near Morai Railway Crossing, Vapi, Valsad with an installed capacity of 120,000 MTPA and Plot No. 1 and 1/B, Phase I, GIDC, Vapi, respectively, with an installed capacity of 82,500 MTPA. Manufacturing Unit II is a newly constructed plant that commenced commercial production on July 17, 2023. As of November 30, 2023, the company employed 213 people.
Objectives of the Issue
- To meet long-term working capital requirements; and
- General Corporate Purposes.
Shree Ajit Pulp and Paper Rights Issue Timetable
| Last Date to buy shares | 17 January 2024 |
| Record Date | 18 January 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 30 January 2024 |
| Renunciation of Rights Entitlements | 16 February 2024 |
| Bid/Offer Closes On | 15 February 2024 |
| Deemed Date of Allotment | 28 February 2024 |
| Credit Date | 04 March 2024 |
| Listing Date | 05 March 2024 |
Shree Ajit Pulp and Paper Rights Issue Details
| Issue Open | January 30, 2024 – February 15, 2024 |
| Security Name | Shree Ajit Pulp and Paper Limited |
| Issue Size (Shares) | 3,571,133 |
| Issue Size (Amount) | ₹28.57 Crores |
| Issue Price | ₹80 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.80/- to be paid as Rs.48/- per share on Application and Rs.32/- per share on First and Final Call. |
| Entitlement | 2 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 428.69 | 281.74 | 244.80 |
| Revenue | 372.29 | 419.21 | 267.19 |
| Profit After Tax | 20.70 | 21.62 | 24.00 |
Shree Ajit Pulp and Paper Rights Issue Documents
Lead Manager(s)
- Vivro Financial Services Private Limited
Shree Ajit Pulp and Paper Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ajitP.rightsissue@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Company Contact Information
Shree Ajit Pulp and Paper Limited
Survey No. 239, Near Morai Railway Crossing,
Village Salvav, Via-Vapi,
Dist. Valsad,-396 191
Phone: +91 260 6635700
Email: shreeajit@shreeajit.com
Website: https://www.shreeajit.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
