Suraj Industries Rights Issue will open for subscription from 22 July 2024. the company aims for an issue size of ₹19.48 Crores through this rights Issue.
About the company
Incorporated in 1992, Suraj Industries trades in edible oils such as palm oil, soybean oil, rice flakes, malt, and empty glass bottles—additionally, the company processes and bottles liquor. Currently, the company’s business operations are divided into two main areas:
- Trading edible oils and other products, including palm oil, soybean oil, rice flakes, malt, and empty glass bottles.
- Processing and bottling liquor, specifically Rajasthan Made Liquor (RML), for Rajasthan State Ganganagar Sugar Mills Limited (RSGSM), a Government of Rajasthan undertaking with exclusive wholesale rights for Country Liquor and RML in Rajasthan.
For FY 2022, the company generated 68% of its revenue from trading edible oils and 1.38% from trading rice flakes, malt, and empty glass bottles. The processing and bottling of liquor accounted for 30% of the annual revenue for FY 2022.
Objectives of the Issue
- Repayment/prepayment in full or part, of certain unsecured loans availed by the Company.
- Grant of loan to our Subsidiary, M/s. Carya Chemicals & Fertilizers Private Limited.
- General Corporate Purposes.
Suraj Industries Rights Issue Timetable
| Rights Issue Approval Date | 04 July 2024 |
| Rights Issue Record Date | 10 July 2024 |
| Credit of Rights Entitlement | 16 July 2024 |
| Rights Issue Opening Date | 22 July 2024 |
| Last Date for Market Renunciation | 30 July 2024 |
| Rights Issue Closing Date | 05 August 2024 |
| Finalization of Basis of Allotment | 09 August 2024 |
| Rights Allotment Date | 09 August 2024 |
| Credit Date | 16 August 2024 |
| Listing Date | 19 August 2024 |
Suraj Industries Rights Issue Details
| Issue Open | July 22, 2024 – August 5, 2024 |
| Security Name | Suraj Industries Ltd. |
| Issue Size (Shares) | 2,997,375 |
| Issue Size (Amount) | ₹19.48 Crores |
| Issue Price | ₹65 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The Issue Price of Rs. 65 per Rights Equity Share shall be payable in 2 equal tranches, i.e. Rs. 32.50 at the time of Application and balance Rs. 32.50 at the time of one or more subsequent call(s) as may be decided by the Board/ Rights Issue Committee of the Board from time to time |
| Entitlement | 7 Rights Equity Share(s) for every 30 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 41.26 | 67.38 | 51.06 |
| Expenses | 36.56 | 60.04 | 48.39 |
| Operating Margin (%) | 11.50 | 13.18 | 8.63 |
| Net Income | 3.07 | 4.77 | 1.55 |
| ROCE (%) | – | 1.79 | 76.89 |
Rights Issue Documents
Suraj Industries Rights Issue Lead Manager(s)
Suraj Industries 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
SURAJ INDUSTRIES LIMITED
F-32/3, Second Floor, Okhla Industrial Area,
Phase – II, New Delhi – 110020
Phone: +91-11-42524455
E-mail: secretarial@surajindustries.org
Website: www.surajindustries.org
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
