Tierra Agrotech Rights Issue will open for subscription from 28 March 2024. the company aims for an issue size of ₹48.47 Crores through this rights Issue.
About the company
Tierra Agrotech Limited was founded in 2012 and is a technology-driven agricultural company that produces hybrid seeds. The company is engaged in the research, development, production, processing, and marketing of hybrid seeds for major crops such as cotton, rice, maize, mustard, tomato, and okra. It has an R&D facility in Hyderabad with a laboratory space of 10,000 sq. ft. with several greenhouses and more than 50 acres of breeding farms equipped with drip irrigation and other essential facilities. The company also has three other R&D units, one in Bangalore and the other two in Pune and Gurgaon. It also maintains about 30 product testing centers across the country.
Objectives of the Issue
- To meet the Long Term Working Capital Requirements;
- Investment in Shares of its Wholly Owned Subsidiary, namely Tierra Seed Science Private Limited and
- General Corporate Purposes.
Tierra Agrotech Rights Issue Timetable
| Last Date to buy shares | 15 March 2024 |
| Record Date | 18 March 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 28 March 2024 |
| Renunciation of Rights Entitlements | 16 April 2024 |
| Bid/Offer Closes On | 24 April 2024 |
| Deemed Date of Allotment | 01 May 2024 |
| Credit Date | 03 May 2024 |
| Listing Date | 09 May 2024 |
Tierra Agrotech Rights Issue Details
| Issue Open | March 28, 2024 – April 24, 2024 |
| Security Name | Tierra Agrotech Ltd |
| Issue Size (Shares) | 9,694,041 |
| Issue Size (Amount) | ₹48.47 Crores |
| Issue Price | ₹50 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The full amount of the issue price of Rs. 50/- is payable at the time of application. |
| Entitlement | 1 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 172.83 | 173.63 | 162.15 | |
| Revenue | 62.37 | 60.71 | 56.79 | 58.37 |
| Profit After Tax | -5.45 | -28.21 | -13.62 | -6.27 |
| Net Worth | 101.34 | 15.07 | 43.43 | 56.79 |
| Reserves and Surplus | 45.41 | -10.08 | 18.28 | 31.63 |
| Total Borrowing | 29.95 | 106.96 | 86.25 | 61.75 |
Tierra Agrotech Rights Issue Documents
Lead Manager(s)
Tierra Agrotech Rights Issue Registrar
Venture Capital And Corporate Investments Pvt Ltd
Phone: 040-23818475, 23818476, 23868023
Email: rights@vccipl.com
Website: https://www.vccipl.com
Company Contact Information
Tierra Agrotech Ltd
8-2-269/19/5/A/2, 1st Floor, Sravana Complex,
Kamalapuri Colony Lane, Next to LV Prasad Hospital
Road No 2, Banjara Hills, Hyderabad – 500034
Phone: +91 040 4850 6656
Email: info@tierragrotech.com
Website: https://tierraagrotech.com/
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
