Sobha Rights Issue

Sobha Rights Issues will open for subscription from 28 June 2024. the company aims for an issue size of ₹2,000 Crores through this rights Issue.

About the company

Sobha is a leading real estate company in India that offers residential homes and manufactures construction-related products. The company’s focus on design, construction quality, building materials, and technology has allowed us to diversify and expand its offerings. The company has expanded to other cities in India including Gurugram, Chennai, Pune, and Kochi.

Recently, the company launched projects in Hyderabad and Trivandrum. Apart from developing real estate projects under the ‘Sobha‘ brand. The company also provides engineering, procurement, and construction services for institutional customers.

As of 31 March 2024, it has completed construction of 136.25 million square feet across 27 cities in India and currently has 38.36 million square feet of developable area for projects. In the last fiscal year, the company completed construction of over 7 million square feet across the real estate and contractual projects and the company has 69 ongoing projects and 21 forthcoming projects as of 31 March 2024, comprising residential and commercial developments.

Objectives of the Issue

  • Repayment or prepayment, in full or in part, of certain borrowings availed by the Company;
  • Funding certain project-related expenses for Ongoing Projects and Forthcoming Projects;
  • Purchase of equipment and machinery; and
  • Funding acquisition of unidentified land parcels and general corporate purposes.

Sobha Rights Issues Timetable

Last Date to buy shares18 June 2024
Record Date19 June 2024
Credit of Rights Entitlements27 June 2024
Bid/Offer Opens On28 June 2024
Renunciation of Rights Entitlements01 July 2024
Bid/Offer Closes On04 July 2024
Deemed Date of Allotment12 July 2024
Credit Date15 July 2024
Listing Date16 July 2024

Sobha Rights Issues Details

Issue OpenJune 28, 2024 – July 4, 2024
Security NameSobha Limited
Issue Size (Shares)12,107,981
Issue Size (Amount)₹2,000.00 Crores
Issue Price₹1651 per share
Face Value₹10 per share
Listing AtBSE, NSE
Terms of PaymentRs. 825 on application. Rs. 825 in not more than two subsequent Calls, with terms and conditions such as the number of Calls and the timing and quantum of each Call as may be decided by our Board/ Rights Issue Committee from time to time, to be completed on or prior to December 31, 2025.
Entitlement6 Rights Equity Share(s) for every 47 fully paid-up Equity Shares held on Record Date

Company Financials

 FY 2022FY 2023FY 2024
Operating Margin (%)
Net Income173.00104.0049.00
ROCE (%)10.008.00
(Amount in ₹ Crore)

Rights Issue Documents

Lead Manager(s)

7th Floor, Cnergy Appasaheb Marathe Marg Prabhadevi,
Mumbai 400 025 Maharashtra, India
Telephone: +91 22 6630 3030

Rights Issue Registrar

C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949

Company Contact Information

SOBHA, Sarjapur-Marathahalli, Outer Ring Road (ORR),
Devarabisanahalli, Bellandur Post, Bangalore 560 103
Phone: +91 80 4932 0000

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

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