Silgo Retail Rights Issue will open for subscription from 28 February 2024. the company aims for an issue size of ₹25.68 Crores through this rights Issue.
About the company
Founded in 2016, Silgo Retail Limited is active in the design, manufacture, wholesale, and retail of silver jewelry. The company also deals in gemstones. The company mainly deals in silver jewelry. The product portfolio includes bracelets, necklaces, rings, earrings, jhumki, bangles and custom jewelry. All of the company’s jewelry is cast from 925 sterling silver. The company also offers a wide range of traditional, Indian, western, and modern designs and silver jewelry. The offerings are specialized in silver jewelry and carry the BIS hallmark.
The company offers a wide range of silver jewelry for special occasions such as weddings and festivals as well as everyday jewelry for all age groups, genders, and in various price ranges. The company’s manufacturing facility is located in Jaipur. Silgo runs a program called “Dyuti” to promote entrepreneurship among women in the region. As of September 30, 2023, the company had 20 employees, including Executive Directors and KMP.
Objectives of the Issue
- Repayment in full of unsecured loan availed from one of the Promoters, Mr. Nitin Jain;
- Repayment/ Pre-payment of certain secured loan availed from lender of the company either in part or full;
- To augment the existing and incremental working capital requirement of the company; and
- General corporate purposes.
Silgo Retail Rights Issue Timetable
| Last Date to buy shares | 21 February 2024 |
| Record Date | 22 February 2024 |
| Credit of Rights Entitlements | 23 February 2024 |
| Bid/Offer Opens On | 28 February 2024 |
| Renunciation of Rights Entitlements | 08 March 2024 |
| Bid/Offer Closes On | 12 March 2024 |
| Deemed Date of Allotment | 20 March 2024 |
| Credit Date | 20 March 2024 |
| Listing Date | 26 March 2024 |
Silgo Retail Rights Issue Details
| Issue Open | February 28, 2024 – March 12, 2024 |
| Security Name | Silgo Retail Limited |
| Issue Size (Shares) | 10,270,000 |
| Issue Size (Amount) | ₹25.68 Crores |
| Issue Price | ₹25 per share |
| Face Value | ₹10 per share |
| Listing At | NSE |
| Terms of Payment | The entire amount of the Issue Price of ₹ 25/- per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 52.11 | 51.19 | 45.16 |
| Revenue | 34.68 | 35.14 | 31.90 |
| Profit After Tax | 2.35 | 2.31 | 2.20 |
Silgo Retail Rights Issue Documents
Lead Manager(s)
- Srujan Alpha Capital Advisors LLP
Silgo Retail Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightsissue@bigshargonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Company Contact Information
Silgo Retail Limited
B 11 Mahalaxmi Nagar,
JLN Marg,
Jaipur – 302017
Phone: + 917055570555
Email: info@silgo.in
Website: https://www.silgo.in/
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
