Shree Ram Proteins Rights Issue will open for subscription from 17 July 2023. the company aims for an issue size of ₹49.27 Crores through this rights Issue.
About the company
Incorporated in 2008, Shree Ram Proteins Limited is engaged in the business of de-linting and de-hulling cotton seeds. This is executed by a mechanical process, further, the company also engaged in oil extraction from cotton seeds and solvent extraction from cotton seeds oil cake, and ground nuts. The products manufactured by Shree Ram Proteins Limited are Cotton linter, Delinted Cotton Seeds, Cotton seed husk/hulls, Cotton Seeds Oil Cake, Cotton Seeds De-oil Cake, Pre- Refine Wash Oil, Ground Nuts Oil Cake, Cotton (Kapas), and Cotton Bales. The company carries out its manufacturing at its facility, which situates in Rajkot.
The manufacturing process of the product is undertaken in the following steps:
- De-linting and de-hulling of Cotton seeds, the process manufactures shot fiber (linter), and De-linted cotton Seeds
- The cotton seeds oil extraction process produces refined cotton seeds oil and cotton seeds oil cake
- The solvent extraction process, resulting in pre-refined wash oil and de-oil cotton seeds cake
The products of the company are then put into the process to produce further products, for instance, Cotton linter can be used in paper manufacturing. It can also act as raw materials for the manufacture of cellulose.
Objectives of the Issue
- To Meet Working Capital Requirements
- General corporate purposes
- To meet Public Issue Expenses
Rights Issue Timetable
| Last Date to buy shares | 05 July 2023 |
| Record Date | 06 July 2023 |
| Credit of Rights Entitlements | 12 August 2023 |
| Bid/Offer Opens On | 17 July 2023 |
| Renunciation of Rights Entitlements | 09 August 2023 |
| Bid/Offer Closes On | 25 August 2023 |
| Deemed Date of Allotment | |
| Credit Date | 28 August 2023 |
| Listing Date | 04 September 2023 |
Shree Ram Proteins Rights Issue Details
| Issue Open | Jul 17, 2023 – Jul 26, 2023 |
| Security Name | Shree Ram Proteins Limited |
| Issue Size (Shares) | 214,200,000 |
| Issue Size (Amount) | ₹49.27 Crores |
| Issue Price | ₹2.3 per share |
| Face Value | ₹1 per share |
| Listing At | NSE |
| Terms of Payment | The full amount in regards to the Rights Equity Shares i.e., Rs. 2.30 is payable on application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 100.83 | 156.42 | 2.61 |
| 31-Mar-21 | 100.10 | 152.68 | 0.84 |
Rights Issue Documents
Lead Manager(s)
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Rights Issue Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Company Contact Information
Shree Ram Proteins Limited
Imperial Heights Tower-B, Second Floor,
Office No. B-206, 150 Ft Ring Road,
Opp. Big Bazar Na Rajkot – 360005
Phone: +91 28252 80634
Email: info@shreeramproteins.com
Website: http://www.shreeramproteins.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
