Sparc Electrex Rights Issue

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:

  1. POWER TOOLS – Portable Electric Power Tools, Garden Tools, Pneumatic Tools, Cordless Tools, Wood Working Tools
  2. 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 shares27 February 2023
Record Date28 February 2023
Credit of Rights Entitlements09 March 2023
Bid/Offer Opens On14 March 2023
Renunciation of Rights Entitlements06 April 2023
Bid/Offer Closes On12 April 2023
Deemed Date of Allotment21 April 2023
Credit Date27 April 2023
Listing Date03 May 2023

Sparc Electrex Rights Issue Details

Issue OpenMar 14, 2023 – Apr 12, 2023
Security NameSparc 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 AtBSE
Terms of PaymentRs. 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.
Entitlement3 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date

Company Financials

Period EndedTotal RevenueProfit After Tax
(Amount in ₹ Crore)

Rights Issue Documents

Lead Manager(s)

Rights Issue Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270

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

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

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