Spray King Agro Equipment Rights Issue

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:

  1. Brass Compression Fittings
  2. Turning Components
  3. Sanitary Fittings
  4. Brass Pipe & Plumbing Fittings
  5. Extruded Brass Rods
  6. Ball Valves & Non-Return Valves
  7. Agricultural Sprayer Parts & Garden Fittings
  8. CNC Fittings
  9. 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

  1. Toward working capital requirements,
  2. General Corporate Purposes.

Spray King Agro Equipment Rights Issue Timetable

Record Date02 February 2023
Credit of Rights Entitlements17 February 2023
Bid/Offer Opens On13 February 2023
Renunciation of Rights Entitlements14 February 2023
Bid/Offer Closes On20 February 2023
Deemed Date of Allotment28 February 2023
Credit Date01 March 2023
Listing Date02 March 2023

Rights Issue Details

Issue OpenFeb 13, 2023 – Feb 20, 2023
Security NameSpray 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 AtBSE
Terms of PaymentThe full amount is payable on application.
Entitlement1 Right Equity Share for every 1 Existing Equity Share held

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After Tax
(Amount in ₹ Crore)

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

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

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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