Srestha Finvest Rights Issue will open for subscription from 04 July 2024. the company aims for an issue size of ₹48 Crores through this rights Issue.
About the company
Srestha Finvest operates in the lending business segment, aiming to provide specialized solutions to Indian corporates and individuals to help them develop their businesses. The company’s focus lies in structured credit products supported by strong cash flows to create a secure and high-quality wholesale lending portfolio. Within the wholesale lending business, it offers credit solutions for various needs such as project funding, mezzanine financing, acquisition financing, project financing, bridge financing, promoter funding, and working capital requirements.
In addition to catering to the financial needs of corporations and individuals, it is also engaged in investment and trading in stocks and shares. The company’s strategic initiatives include utilizing technology efficiently, expanding client relationships, leveraging the company’s expertise and networks, attracting and retaining skilled professionals, and investing in plant and machinery to support its growth.
Objectives of the Issue
- To meet the Working Capital requirements of the Company; and
- General Corporate Purposes.
Srestha Finvest Rights Issue Timetable
| Last Date to buy shares | 21 June 2024 |
| Record Date | 24 June 2024 |
| Credit of Rights Entitlements | 12 July 2024 |
| Bid/Offer Opens On | 04 July 2024 |
| Renunciation of Rights Entitlements | 12 July 2024 |
| Bid/Offer Closes On | 18 July 2024 |
| Deemed Date of Allotment | 25 July 2024 |
| Credit Date | 01 August 2024 |
| Listing Date | 30 July 2024 |
Srestha Finvest Rights Issue Details
| Issue Open | July 4, 2024 – July 18, 2024 |
| Security Name | Srestha Finvest Ltd |
| Issue Size (Shares) | 240,000,000 |
| Issue Size (Amount) | ₹48.00 Crores |
| Issue Price | ₹2 per share |
| Face Value | ₹2 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.2/- payable on Application. |
| Entitlement | 12 Rights Equity Share(s) for every 29 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 2.30 | 2.75 | 12.75 |
| Expenses | 1.64 | 7.08 | 6.51 |
| Operating Margin (%) | 28.70 | (154.45) | 48.94 |
| Net Income | (0.04) | (4.97) | 1.74 |
| ROCE (%) | 1.84 | (7.45) | – |
Rights Issue Documents
Srestha Finvest Registrar
PURVA SHAREGISTRY (INDIA) PVT. LTD LIMITED
PurvaSharegistry (India) Pvt. Ltd. Unit no. 9 Shiv Shakti Ind.
Estt.J .R. Borichamarg Lower Parel (E) Mumbai 400 011
Phone: +91 22 4961 4132 /91 22 3199 8810
Email: support@purvashare.com
Website: www.purvashare.com
Company Contact Information
SRESTHA FINVEST LIMITED
Door No.19 & 20, General Muthiah Mudali Street, Sowcarpet,
Chennai, Tamil Nadu, 600003
Phone: +044 – 40057044
Email: srestha.info@gmail.com
Website: www.srestha.co.in
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
