Shrydus Industries Rights Issue will open for subscription from 05 August 2024. the company aims for an issue size of ₹36.02 Crores through this rights Issue.
About the company
Incorporated in 1983, Shrydus Industries operates in the healthcare, real estate, and pharmaceutical sectors. The company now operates a pharmaceutical manufacturing plant in Gujarat, India. This plant produces tablets and capsules for export and has over 468 registered products. Despite the challenges posed by the global pandemic, the plant has demonstrated resilience and remains committed to delivering high-quality products. It is also equipped to manufacture various types of medications. The plant holds approvals from the National Drug Authorities of several East African countries and serves Uganda, Tanzania, Kenya, Ethiopia, Congo, and Malawi.
The plant can produce approximately 20 million tablets and 4 million capsules daily, including various pharmaceutical products. It is strategically located near major pharmaceutical players like Zydus, Cadilla, and Intas, leveraging its position in the pharmaceutical hub. As of March 2024, the company has 18 full-time employees.
Objectives of the Issue
- Acquisition of Astra Lifecare (India) Private limited
- Repayment of Loan availed from the related party through conversion outstanding Loan to Equity
- To Meet working capital of the company
- General Corporate Purposes; and
- Issue Expenses.
Shrydus Industries Rights Issue Timetable
| Rights Issue Approval Date | 08 July 2024 |
| Rights Issue Record Date | 19 July 2024 |
| Credit of Rights Entitlement | 05 August 2024 |
| Rights Issue Opening Date | 05 August 2024 |
| Last Date for Market Renunciation | 14 August 2024 |
| Rights Issue Closing Date | 19 August 2024 |
| Finalization of Basis of Allotment | 21 August 2024 |
| Rights Allotment Date | 21 August 2024 |
| Credit Date | 26 August 2024 |
| Listing Date | 28 August 2024 |
Shrydus Industries Rights Issue Details
| Issue Open | August 5, 2024 – August 19, 2024 |
| Security Name | Shrydus Industries Limited |
| Issue Size (Shares) | 20,008,810 |
| Issue Size (Amount) | ₹36.02 Crores |
| Issue Price | ₹18 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The entire amount of the Issue Price of ₹ 18/- per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 5 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date |
Shrydus Industries Rights Issue Calculation
| Shrydus Industries Rights Issue Price | ₹ 18 per share |
| Market Price on Rights Issue Approval | ₹ 19.29 per share |
| Dilution Factor (X) | 2.67 |
| Fair Value After Dilution at Prevailing Price | ₹ 18.48 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 9.00 | 9.29 | 9.45 |
| Expenses | 8.94 | 9.02 | 8.93 |
| Operating Margin (%) | 0.67 | 2.91 | 5.50 |
| Net Income | 0.05 | 0.30 | 0.52 |
| ROCE (%) | 3.59 | 9.35 | – |
Rights Issue Documents
- Shrydus Industries Rights Issue Application Form
- Shrydus Industries Letter of Offer
- Board Meeting Outcome
Shrydus Industries Rights Issue Lead Manager(s)
Shrydus Industries Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Telephone: +011-40450193-197
Email: admin@skylinerta.com
Website: www.skylinerta.com
Company Contact Information
SHRYDUS INDUSTRIES LIMITED
107 Sagar Avenue Above Bata,
SV Road Andheri West, Andheri Railway Station,
Mumbai, Maharashtra, India, 400058
Phone: +91 9892710929
E-mail: Info@shrydus.com
Website: www.shrydus.com
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
