Sobhagya Merchantile Rights Issue will open for subscription from 06 May 2024. the company aims for an issue size of ₹17.14 Crores through this rights Issue.
About the company
Sobhagya Mercantile operates within the Infrastructure Sector, concentrating on construction, engineering, mining, and related fields. It provides competitive solutions across a spectrum of services, including road development, infrastructure engineering, equipment leasing, mining, and steel projects. Sobhagya Mercantile offers a comprehensive suite of services, such as engineering design, project planning and estimation, market analysis, and feasibility reporting. Its expertise extends to project management, architectural and construction engineering, project commissioning, operations and maintenance, and specialized advisory services for road and irrigation projects.
The company has completely outsourced its payroll management to MKS Multimedia Private Limited. In the 2022-23 fiscal year, MKS Multimedia Private Limited assigned around 39 employees to work for the company.
Objectives of the Issue
- For Working Capital Purposes; and
- General Corporate Purposes.
Sobhagya Merchantile Rights Issue Timetable
| Last Date to buy shares | 22 April 2024 |
| Record Date | 23 April 2024 |
| Credit of Rights Entitlements | 03 May 2024 |
| Bid/Offer Opens On | 06 May 2024 |
| Renunciation of Rights Entitlements | 16 May 2024 |
| Bid/Offer Closes On | 21 May 2024 |
| Deemed Date of Allotment | 28 May 2024 |
| Credit Date | 29 May 2024 |
| Listing Date | 03 May 2024 |
Rights Issue Details
| Issue Open | May 6, 2024 – May 21, 2024 |
| Security Name | Sobhagya Merchantile Ltd. |
| Issue Size (Shares) | 8,160,000 |
| Issue Size (Amount) | ₹17.14 Crores |
| Issue Price | ₹21 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | 100% of the Issue Price is payable on Application |
| Entitlement | 34 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 38.20 | 66.56 | 108.81 |
| Expenses | 32.61 | 58.05 | 97.00 |
| Operating Margin (%) | 26.03 | 21.13 | 14.50 |
| Net Income | 7.91 | 10.96 | 10.73 |
| ROCE (%) | 60.0 | 57.0 | 44.0 |
Rights Issue Documents
- Sobhagya Mercantile Rights Issue Application Form
- Sobhagya Mercantile Letter of Offer
- Board Meeting Outcome
Lead Manager(s)
MARK CORPORATE ADVISORS PRIVATE LIMITED
404/1, The Summit Business Bay, Sant Janabai Road (Service Lane),
Off W. E. Highway, Vile Parle (East), Mumbai-400 057, Maharashtra
Phone: +91 22 2612 3207/08
Email: info@markcorporateadvisors.com
Website: www.markcorporateadvisors.com
Rights Issue Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone: 022 4961 4132/3199 8810
Email: newissue@purvashare.com
Website: www.purvashare.com
Company Contact Information
SOBHAGYA MERCANTILE LIMITED
526, 1st Floor Bhangdiya House, Near Getwell Hospital,
Dhantoli, Nagpur 440 012, Maharashtra
Phone: +91 712 2460120
Email: shalinee.s@themksgroup.com
Website: www.sobhagyaltd.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
