Synergy Green Industries Rights Issue will open for subscription from 23 September 2024. the company aims for an issue size of ₹45.92 Crores through this rights Issue.
About the company
Synergy Green Industries (SGIL) is a leading foundry based in Kolhapur, India, specializing in the production of SG Iron, Grey Iron, and Steel castings. Founded in 2010, the company has grown to employ between 201 and 500 people in India. SGIL’s global headquarters is located in Kolhapur.
The company primarily focuses on manufacturing large castings ranging from 500 Kg to 30 metric tonnes for wind turbines, wind gearboxes, and general engineering industries such as mining, pumps, and plastic injection parts. With an annual production capacity of 30,000 metric tonnes, SGIL is a leading supplier to major wind OEMs worldwide. The company also has significant capabilities in heavy engineering applications beyond the wind sector.
Objectives of the Issue
- Capital expenditure for enhancement of present foundry capacity of 30,000 MT/Annum to enhance the foundry capacity up to 45,000 MT/Annum.
- Capital Expenditure for setting up New Fettling Shop (Foundry Expansion) 45,000 MT/Annum Capacity at Five Star MIDC, Kagal, Kolhapur-416216, Maharashtra.
- Capital Expenditure to build 10,000 MT/Annum of new machining capacity at Five Star MIDC, Kagal, Kolhapur-416216, Maharashtra.
- Installation of Solar plant for Captive consumption.
- To meet General corporate purposes.
- To meet the expenses of the Issue.
Synergy Green Industries Rights Issue Timetable
| Rights Issue Approval Date | 5 September 2024 |
| Rights Issue Record Date | 11 September 2024 |
| Credit of Rights Entitlement | 16 September 2024 |
| Rights Issue Opening Date | 23 September 2024 |
| Last Date for Market Renunciation | 30 September 2024 |
| Rights Issue Closing Date | 4 October 2024 |
| Finalization of Basis of Allotment | 11 October 2024 |
| Rights Allotment Date | 11 October 2024 |
| Credit Date | 15 October 2024 |
| Listing Date | 21 October 2024 |
Synergy Green Industries Rights Issue Details
| Issue Open | September 23, 2024 – October 4, 2024 |
| Security Name | Synergy Green Industries Ltd |
| Issue Size (Shares) | 1,413,000 |
| Issue Size (Amount) | ₹45.92 Crores |
| Issue Price | ₹325 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The entire amount of the Issue Price of Rs. 325 per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 1 Rights Equity Share(s) for every 10 fully paid-up Equity Shares held on Record Date |
Synergy Green Industries Rights Issue Calculation
| Synergy Green Industries Rights Issue Price | ₹ 325 per share |
| Market Price on Rights Issue Approval | ₹ 402.35 per share |
| Dilution Factor (X) | 1.1 |
| Fair Value After Dilution at Prevailing Price | ₹ 395.32 per share |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 283.77 | 289.71 | 326.31 |
| Expenses | 271.21 | 277.47 | 300.38 |
| Operating Margin (%) | 8.88 | 9.24 | 12.60 |
| Net income | 1.43 | 0.87 | 11.56 |
| ROCE (%) | 13.0 | 12.0 | 24.0 |
Synergy Green Industries Rights Issue Documents
- Synergy Green Industries Rights Issue Application Form
- Synergy Green Industries Letter of Offer
- Board Meeting Outcome
Lead Manager(s)
Synergy Green Industries Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: synergygreen.rights@linkintime.co.in
Website: www.linkintime.co.in
Company Contact Information
SYNERGY GREEN INDUSTRIES LIMITED
392 E Ward, Shahupuri,
Kolhapur – 416001, Maharashtra, India
Phone: +910231265837
E-mail: nmm@synergygreenind.com
Website: www.synergygreenind.com
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
