Thambbi Modern Spinning Mills Rights Issue will open for subscription from 29 December 2022. the company aims for an issue size of ₹5.76 Crores through this rights Issue.
Thambbi Modern Spinning Mills Ltd
The company is in the business of spinning and weaving different types of fibres and yarns. The Company also involves in the trading of cotton and yarns. The Textiles manufacturing activity of the company was closed in March’2014. The company has leased out its buildings to generate income.
The company’s objective is to:
- To comb, prepare, spin and deal in cotton, waste cotton, wool, silk, artificial silk, staple fibre, rayon, flax, hemp, jute and other fibrous substance; to weave or otherwise manufacture cloth, silk, linen, mercerised yarn and other goods and fabrics, whether textiles, felted, netted or looped and sell any such goods manufactured whether in wholesale or in retail.
- To carry on the business of buying and selling cotton yarn, cotton, waste cotton, silk, artificial silk, staple fibre, rayon, flax, hemp, jute, worsted and woollen merchants; of yarn merchants and buyers, sellers, dealers, commission agents, brokers, exporters and importers, whether in wholesale or retail of cotton, cotton yarn, waste cotton and cloth, linen, silk, artificial silk, staple fibre, mercerised yarn, yarn, flax, hemp, jute, wool and other fibrous substances.
- To purchase, sell, develop, maintain, take in exchange, or on a lease, hire or otherwise acquire, whether for investment or sale or working the same any real or personal estate including lands, mines, business, buildings, factories, commercial property.
Objectives of the Issue
- Part repayment or prepayment of unsecured loans availed by our Company from Ramasamy Udayar Jagadeesan, being a Promoter of the Company.
- General Corporate Purposes.
Issue Timetable
| Record Date | 16 December 2022 |
| Credit of Rights Entitlements | 22 December 2022 |
| Bid/Offer Opens On | 29 December 2022 |
| Renunciation of Rights Entitlements | 06 January 2023 |
| Bid/Offer Closes On | 12 January 2023 |
| Deemed Date of Allotment | 20 January 2023 |
| Credit Date | 24 January 2023 |
| Listing Date | 25 January 2023 |
Thambbi Modern Spinning Mills Rights Issue 2022 Details
| Issue Open | Dec 29, 2022 – Jan 12, 2023 |
| Security Name | Thambbi Modern Spinning Mills Ltd. |
| Issue Size (Shares) | 5,762,770 |
| Issue Size (Amount) | ₹5.76 Crores |
| Issue Price | ₹10 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Entitlement | 1 Rights Share for every 1 Equity Share held as on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 16.12 | 1.93 | -2.18 |
| 31-Mar-21 | 15.64 | 2.48 | -1.65 |
| 31-Mar-22 | 14.64 | 2.23 | -5.1 |
Thambbi Modern Spinning Mills Rights Issue Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
Company Contact Information
Thambbi Modern Spinning Mills Ltd.
Omalur Road,
Jagir Ammapalayam,
Salem – 636302
Phone: 0427–2345425
Email: tmsml@thambbimodern.com
Website: https://www.thambbimodern.com/index.php
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
