Viji Finance Rights Issue will open for subscription from 28 May 2024. the company aims for an issue size of ₹9.00 Crores through this rights Issue.
About the company
Viji Finance provides financial services as a Non-Systematically Important Non-Deposit Non-Banking Finance Company registered with the RBI. It offers working capital loans to corporations, primarily unsecured. The company extends loans only to borrowers known to the promoter. The company mainly operates in infrastructure, housing, infrastructure development, construction, and vehicle financing in India. As of 31 December 2023, the company had four employees working across business operations, administration, secretarial, and legal departments. The company also expands into new business areas, including housing finance, gold loans, education loans, and medical equipment.
Objectives of the Issue
- To augment our capital base and provide for the fund requirements for increasing our operational scale concerning the NBFC activities; and
- General Corporate Purposes.
Viji Finance Rights Issue Timetable
| Last Date to buy shares | 14 May 2024 |
| Record Date | 15 May 2024 |
| Credit of Rights Entitlements | 24 May 2024 |
| Bid/Offer Opens On | 28 May 2024 |
| Renunciation of Rights Entitlements | 04 June 2024 |
| Bid/Offer Closes On | 26 June 2024 |
| Deemed Date of Allotment | 14 June 2024 |
| Credit Date | 19 June 2024 |
| Listing Date | 24 June 2024 |
Viji Finance Rights Issue Details
| Issue Open | May 28, 2024 – June 26, 2024 |
| Security Name | Viji Finance Ltd |
| Issue Size (Shares) | 60,000,000 |
| Issue Size (Amount) | ₹9.00 Crores |
| Issue Price | ₹1.5 per share |
| Face Value | ₹1 per share |
| Listing At | BSE, NSE |
| Terms of Payment | All money payable at the time of Application. |
| Entitlement | 8 Rights Equity Share(s) for every 11 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 0.94 | 1.22 | 2.09 |
| Expenses | 0.26 | 0.64 | 0.94 |
| Operating Margin (%) | 72.34 | 47.54 | 55.02 |
| Net Income | 0.45 | 0.44 | 0.44 |
| ROCE (%) | 4.26 | 3.55 | 4.27 |
Rights Issue Documents
Lead Manager(s)
Rights Issue Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, No.1,
Club House Road, Chennai 600 002
Phone: 04440020700/28460390
Email: rights@cameoindia.com
Website: www.cameoindia.com
Company Contact Information
VIJI FINANCE LIMITED
11/2, Usha Ganj,
Jaora Compound, Indore (M.P.)-452001
Phone: 0731-4246092
Email: info@vijifinance.com
Website: www.vijifinance.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
