Sparc Electrex Rights Issue will open for subscription from 14 March 2023. the company aims for an issue size of ₹27.87 Crores through this rights Issue.
About the company
Incorporated in 1989, Sparc Electrex Limited is engaged in the manufacturing, import, export, trading, and dealing of various kinds of Garden Tools, Power Tools, Cordless Tools, Hand Tools, Machinery, Spares & Accessories. It also trades in Prime Steel Products, Hot Rolled (HR) / Cold Rolled Coils, Sheets & Pipes, Mild & Stainless Steel, and all kinds of Metals. The products range of the company is spread across:
- POWER TOOLS – Portable Electric Power Tools, Garden Tools, Pneumatic Tools, Cordless Tools, Wood Working Tools
- METALS AND STEEL PRODUCTS – Prime Steel Products, Hot Rolled (HR) / Cold Rolled Coils, Sheets & Pipes, Mild & Stainless Steel
Sparc Electrex Limited is led by a strong team of highly skilled and experienced management groups. The company has wide experience in the field. Earlier the company was engaged in the business of Video Security Systems and Electronic Document Storage Systems. The same was discontinued after the takeover in October. Since then, Sparc diversified its operations in new fields.
One of the key strengths of the company is its wide range of products to offer to the customers. There are inbuilt quality assurance systems to ensure the highest quality products are served to the end users.
Objectives of the Issue
- To meet Working Capital Requirements;
- To adjust an unsecured loan given by one of Electrex International Private Limited, one of the Corporate Promoters;
- To meet issue-related expenses;
- General Corporate Purposes.
Rights Issue Timetable
| Last Date to buy shares | 27 February 2023 |
| Record Date | 28 February 2023 |
| Credit of Rights Entitlements | 09 March 2023 |
| Bid/Offer Opens On | 14 March 2023 |
| Renunciation of Rights Entitlements | 06 April 2023 |
| Bid/Offer Closes On | 12 April 2023 |
| Deemed Date of Allotment | 21 April 2023 |
| Credit Date | 27 April 2023 |
| Listing Date | 03 May 2023 |
Sparc Electrex Rights Issue Details
| Issue Open | Mar 14, 2023 – Apr 12, 2023 |
| Security Name | Sparc Electrex Limited |
| Issue Size (Shares) | 14,667,000 |
| Issue Size (Amount) | ₹27.87 Crores |
| Issue Price | ₹19 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Rs. 4.75 is payable on application and the remaining sum of Rs. 14.25 is payable on subsequent call(s) as determined by the company. |
| Entitlement | 3 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | Total Revenue | Profit After Tax |
|---|---|---|
| 31-Mar-20 | 0.09 | -0.01 |
| 31-Mar-21 | 0.05 | -2.00 |
| 31-Mar-22 | 15.07 | 2.12 |
Rights Issue Documents
Lead Manager(s)
Rights Issue Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: sparcelectrex.rights@linkintime.co.in
Website: https://linkintime.co.in/
Company Contact Information
Sparc Electrex Limited
1202, 12th Floor, Esperanza Building,
Next to Bank of Baroda, 198, Linking Road,
Bandra (West), Mumbai – 400050
Phone: +91-9819001811
Email: sparcelectrex@gmail.com
Website: http://www.sparcelectrex.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
