Spectrum Foods Rights Issue will open for subscription from 08 April 2024. the company aims for an issue size of ₹38.79 Crores through this rights Issue.
About the company
Incorporated in 1994, Spectrum Foods Limited is a leading B2B Salt and Spices Manufacturer. The company has three divisions: Salt & Spices, Renewables, and Hospitality. Spectrum Foods Limited sells salt, spices, and windmills to Saboo Sodium Chloro Limited. The company has a 1.5-megawatt (MW) wind power project wind turbine located at the Village Mamatkheda Site Village Ringnod Jaora Tehsil, District Ratlam, Madhya Pradesh State. The electricity produced from the windmill plant is sold to Madhya Pradesh Madhya Kshetra Vidyut Company Limited.
Objectives of the Issue
- To augment the existing and incremental working capital requirement of the company
- General Corporate Purposes
Spectrum Foods Rights Issue Timetable
| Last Date to buy shares | 26 March 2024 |
| Record Date | 27 March 2024 |
| Credit of Rights Entitlements | 05 April 2024 |
| Bid/Offer Opens On | 08 April 2024 |
| Renunciation of Rights Entitlements | 16 April 2024 |
| Bid/Offer Closes On | 22 April 2024 |
| Deemed Date of Allotment | 03 April 2024 |
| Credit Date | 09 April 2024 |
| Listing Date | 10 April 2024 |
Spectrum Foods Rights Issue Details
| Issue Open | April 8, 2024 – April 22, 2024 |
| Security Name | Spectrum Foods Ltd |
| Issue Size (Shares) | 19,393,544 |
| Issue Size (Amount) | ₹38.79 Crores |
| Issue Price | ₹20 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Rs. 10.00/- (including premium of Rs. 5) to be paid on applications & balance amount on One or more subsequent Calls |
| Entitlement | 4 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 17.75 | 13.88 | 16.63 |
| Revenue | 15.82 | 16.17 | |
| Profit After Tax | 7.29 | 0.38 | -0.25 |
| Net Worth | 7.28 | -0.01 | -39,120.00 |
| Reserves and Surplus | 2.43 | -4.86 |
Spectrum Foods Rights Issue Documents
Lead Manager(s)
Spectrum Foods Registrar
Beetal Financial & Computer Services (P) Limited
Phone: +91 11 29961281
Email: beetal@beetalfinancial.com
Website: http://www.beetalmail.com/smeipo
Company Contact Information
Spectrum Foods Ltd
L-5, B-2,
Krishna Marg, C-Scheme,
Jaipur, Rajasthan, India 302001
Phone: +91-141-2379483
Email: account@suryasalt.com
Website: https://www.spectrumfoodsltd.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
