Spright Agro Rights Issue

Spright Agro Rights Issue will open for subscription from 24 July 2024. the company aims for an issue size of ₹44.87 Crores through this rights Issue.

About the company

The business of Spright Agro consists of trading agricultural commodities (Wheat, Rice, Maize), Vegetables (Capsicum, Tomato, Green Chilly, Onion, Potato, etc), Fruits including Apple, Red Dragon, Sweet Lime, Pomegranate, etc and other agricultural products. The company is also in contract manufacturing of different agricultural products, mainly Potatoes, Cucumber, and Onion.

Spright Agro procures agricultural produce from manufacturers upfront or as per agreed terms and sells it to a network of dealers. Thanks to its market presence, the company has developed close relationships with farmers, wholesalers, and retailers. In the contract manufacturing segment, the company rents farmland to grow cucumbers, onions, and castor beans to meet the market demand. The company had 9 employees in April 2024. 5 customers accounted for 38.88% of its sales and 5 suppliers for 34.96% of its purchase for the year ended 31 March 2024.

Objectives of the Issue

  • Working capital requirement;
  • General Corporate Purpose; and
  • To meet Issue Expenses.

Spright Agro Rights Issue Timetable

Last Date to buy shares06 June 2024
Record Date07 June 2024
Credit of Rights Entitlements21 June 2024
Bid/Offer Opens On24 June 2024
Renunciation of Rights Entitlements08 July 2024
Bid/Offer Closes On12 July 2024
Deemed Date of Allotment18 July 2024
Credit Date30 July 2024
Listing Date30 July 2024

Spright Agro Rights Issue Details

Issue OpenJune 24, 2024 – July 12, 2024
Security NameSpright Agro Limited
Issue Size (Shares)33,484,611
Issue Size (Amount)₹44.87 Crores
Issue Price₹13.4 per share
Face Value₹1 per share
Listing AtBSE
Terms of PaymentThe Issue Price of ₹ 13.40/- per Equity Share shall be payable at the time of application.
Entitlement1 Rights Equity Share(s) for every 15 fully paid-up Equity Shares held on Record Date

Company Financials

 FY 2022FY 2023FY 2024
Operating Margin (%)0.150.1817.0
Net income0.010.0111.62
ROCE (%)
(Amount in ₹ Crore)

Rights Issue Documents

Lead Manager(s)

Rights Issue Registrar

D-153A, First Floor, Okhla Industrial Area,
Phase1, Delhi-110020
Telephone: 011-40450193-197
Email: grievances@skylinerta.com
Website: www.skylinerta.com

Company Contact Information

Office No 1216, Shilp Epitom Rajpath, Rangoli
Road Off Sindhu Bhavan Road, Bodakdev,
Ahmedabad-380054, Gujarat, India
Phone: +91 98254 34390

Final Thoughts

Applying for the rights issue is purely a personal choice. Make sure you conduct a detailed study of the company and its rights issues before you make an investment decision.

Happy investing

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