Sru Steels Rights Issue will open for subscription from 09 September 2024. the company aims for an issue size of ₹47.95 Crores through this rights Issue.
About the company
Founded on 11 September 1995, SRU Steels is a key player in the steel industry, specializing in the trading and wholesaling of a wide range of steel and iron products. The company supplies materials primarily for infrastructure and housing projects across India, meeting the increasing demands of these sectors. Known for its commitment to quality, SRU Steels offers an extensive selection of products, including stainless steel, carbon steel, and mild steel, earning a strong reputation as a trusted partner in the construction and manufacturing industries.
In the financial year ending 31 March 2023, SRU Steels reported a total income of INR 18.32 crores, indicating a recovery from the previous year’s downturn. However, this performance also underscores the ongoing volatility in the company’s revenue stream.
Objectives of the Issue
- To meet the working capital requirements of the company – ₹ 40 crore
- General corporate purposes – ₹ 8.25 crore
Rights Issue Timetable
| Rights Issue Approval Date | 27 August 2024 |
| Rights Issue Record Date | 31 August 2024 |
| Credit of Rights Entitlement | 6 September 2024 |
| Rights Issue Opening Date | 9 September 2024 |
| Last Date for Market Renunciation | 18 September 2024 |
| Rights Issue Closing Date | 24 September 2024 |
| Finalization of Basis of Allotment | 27 September 2024 |
| Rights Allotment Date | 28 September 2024 |
| Credit Date | 1 October 2024 |
| Listing Date | 3 October 2024 |
Sru Steels Rights Issue Details
| Issue Open | September 9, 2024 – September 24, 2024 |
| Security Name | Sru Steels Ltd |
| Issue Size (Shares) | 47,951,400 |
| Issue Size (Amount) | ₹47.95 Crores |
| Issue Price | ₹10 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | All Money Payable at the time of Application. |
| Entitlement | 4 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 14.10 | 15.79 | 18.32 |
| Expenses | 14.48 | 15.37 | 17.80 |
| Operating Margin (%) | (2.70) | 2.66 | 2.84 |
| Net Income | 0.23 | 0.69 | 0.33 |
| ROCE (%) | 3.53 | 9.43 | 3.27 |
Sru Steels Rights Issue Documents
Rights Issue Lead Manager(s)
Sru Steels Registrar
BEETAL FINANCIAL & COMPUTER SERVICES PRIVATE LIMITED
Beetal House, 3rd Floor, 99, Madangir,
Behind Local Shopping Centre, New Delhi – 110062
Telephone: +91-11-29961281/83, +91-11-26051061, +91-11-26051064
Email: beetal@beetalfinancial.com
Website: www.beetalfinancial.com
Company Contact Information
SRU STEELS LIMITED
107/22 Gali No. 3, East Azad Nagar,
Shahdara, Delhi, India,110051
Phone: 011 27474749
Email: srusteels@yahoo.in
Website: www.srusteels.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
