Udaipur Cement Works Rights Issue will open for subscription from 21 June 2023. the company aims for an issue size of ₹448.43 Crores through this rights Issue.
About the company
Udaipur Cement Works Limited, a subsidiary company of JK Lakshmi Cement Limited, is engaged in the business of manufacturing cement and clinker. The company’s manufacturing plant is located in Udaipur, Rajasthan. The manufacturing unit has an installed manufacturing capacity of 1.50 million tonnes per annum (“MTPA”) of clinker and 2.20 MTPA of cement grinding. During the Financial Years ended March 31, 2023, and March 31, 2022, the company manufactured an aggregate quantity of 1.469 MTPA and 1.305 MTPA of cement respectively. Udaipur Cement Works Limited manufactures two types of cement:
- OPC, which is marketed and sold under the brand ‘Platinum Heavy Duty Cement’, and
- PPC, the company’s premium cement, is also marketed and sold under the brand ‘Platinum Heavy Duty Cement’.
The company supplies cement through a network of dealers to its retail customers. It also directly market and sell cement to institutional and bulk customers from the dumps. As of March 31, 2023, the company has over 56 dumps and 453 dealers, through which they market and sell cement primarily in the Indian states of Rajasthan, Gujarat, and Madhya Pradesh.
Objectives of the Issue
- The company intends to utilize the net proceeds from the issue to partially finance the expansion and development of the Udaipur Manufacturing Plant.
Udaipur Cement Works Rights Issue Timetable
| Last Date to buy shares | 13 June 2023 |
| Record Date | 14 June 2023 |
| Credit of Rights Entitlements | 20 June 2023 |
| Bid/Offer Opens On | 21 June 2023 |
| Renunciation of Rights Entitlements | 30 June 2023 |
| Bid/Offer Closes On | 05 July 2023 |
| Deemed Date of Allotment | 13 July 2023 |
| Credit Date | 14 July 2023 |
| Listing Date | 17 July 2023 |
Udaipur Cement Works Rights Issue Details
| Issue Open | Jun 21, 2023 – Jul 5, 2023 |
| Security Name | Udaipur Cement Works Limited |
| Issue Size (Shares) | 249,127,853 |
| Issue Size (Amount) | ₹448.43 Crores |
| Issue Price | ₹18 per share |
| Face Value | ₹4 per share |
| Listing At | BSE |
| Terms of Payment | The full amount is payable on application. |
| Entitlement | 4 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Reserves and Surplus |
|---|---|---|---|---|
| 31-Mar-22 | 1,428.62 | 881.10 | 48.66 | 171.72 |
| 31-Mar-23 | 1,795.34 | 1,032.26 | 35.86 | 223.73 |
Udaipur Cement Works Rights Issue Documents
Lead Manager(s)
- Jm Financial Limited
Rights Issue Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: udaipur.rights@kfintech.com
Website: https://karisma.kfintech.com/
Company Contact Information
Udaipur Cement Works Limited
Shripati Nagar, CFA,
P.O. Dabok,
Udaipur 313 022
Phone: +91 294 265 5076
Email: ucwl.investors@jkmail.com
Website: http://www.udaipurcement.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
