Spray King Agro Equipment Rights Issue will open for subscription from 13 February 2023. the company aims for an issue size of ₹13.96 Crores through this rights Issue.
About the company
Incorporated in 2004, Spray King Agro Equipment Limited is a manufacturer of all types of agricultural parts. The company is an emerging leader in BRASS PARTS manufacturing, which includes products like Brass Fittings, Brass Forging Equipment, Brass Transformer Parts & other Customized Brass Parts. The foundation of the venture was kept in 1977 as a manufacturer of Turning Components as per print. With time and the incorporation of new innovations, products, and technology, the company has expanded its operations to an extensive scale.
The products of the company are not traded in India alone, but also worldwide in many countries including Australia, USA, Europe, UAE, Canada, South Africa, and so on. In 2017, Spray King Agro Equipment developed Lead-Free Brass Fittings that meet legislation for potable water applications.
The product portfolio of the company includes:
- Brass Compression Fittings
- Turning Components
- Sanitary Fittings
- Brass Pipe & Plumbing Fittings
- Extruded Brass Rods
- Ball Valves & Non-Return Valves
- Agricultural Sprayer Parts & Garden Fittings
- CNC Fittings
- Forging Speciality
Spray King Agro Equipment Limited is committed to quality and assurance in every product. They strive to manufacture and supply the best brass part to the customer.
Objectives of the Issue
- Toward working capital requirements,
- General Corporate Purposes.
Spray King Agro Equipment Rights Issue Timetable
| Record Date | 02 February 2023 |
| Credit of Rights Entitlements | 17 February 2023 |
| Bid/Offer Opens On | 13 February 2023 |
| Renunciation of Rights Entitlements | 14 February 2023 |
| Bid/Offer Closes On | 20 February 2023 |
| Deemed Date of Allotment | 28 February 2023 |
| Credit Date | 01 March 2023 |
| Listing Date | 02 March 2023 |
Rights Issue Details
| Issue Open | Feb 13, 2023 – Feb 20, 2023 |
| Security Name | Spray King Agro Equipment Limited |
| Issue Size (Shares) | 3,172,769 |
| Issue Size (Amount) | ₹13.96 Crores |
| Issue Price | ₹44 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The full amount is payable on application. |
| Entitlement | 1 Right Equity Share for every 1 Existing Equity Share held |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 13.61 | 26.49 | 0.03 |
| 31-Mar-21 | 9.82 | 20.5 | 0.62 |
Rights Issue Documents
Lead Manager(s)
- Aryaman Financial Services limited
Rights Issue Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: rightsissue@bigshareonline.com
Website: http://www.bigshareonline.com
Company Contact Information
Spray King Agro Equipment Limited
Plot No. 590,
G.I.D.C. Phase 2, Dared,
Jamnagar – 361 004
Phone: +91-932-837-7772
Email: info@spraykingagro.com
Website: http://www.spraykingagro.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
