Vinny Overseas Rights Issue will open for subscription from 27 August 2024. the company aims for an issue size of ₹46.52 Crores through this rights Issue.
About the company
Vinny Overseas is involved in processing fabrics for shirting, suiting, and dress materials through weaving, dyeing, printing, and finishing. The company sources grey fabric from the domestic market and dyes it according to client specifications based on its quality, size, and other factors. Additionally, the company performs jobs for wholesale cloth merchants and trades in grey cloth based on customer orders.
The company offers a range of products, including shirting fabrics, suiting fabrics, polyester fabrics, dress materials, and cotton fabrics. Its overseas supplies are primarily distributed in Dubai, Bahrain, Indonesia, Sri Lanka, the U.S.A., China, Brazil, and Oman etc. As of 31 December 2023, Vinny Overseas had a total clientele of over 300 customers.
Objectives of the Issue
- Repayment of borrowings;
- Purchase of Machinery and Construction in the existing manufacturing unit
- To meet incremental working capital requirements
- General corporate purposes
Vinny Overseas Rights Issue Timetable
| Rights Issue Approval Date | 8 August 2024 |
| Rights Issue Record Date | 14 August 2024 |
| Credit of Rights Entitlement | 26 August 2024 |
| Rights Issue Opening Date | 27 August 2024 |
| Last Date for Market Renunciation | 4 September 2024 |
| Rights Issue Closing Date | 10 September 2024 |
| Finalization of Basis of Allotment | 12 September 2024 |
| Rights Allotment Date | 13 September 2024 |
| Credit Date | 19 September 2024 |
| Listing Date | 20 September 2024 |
Vinny Overseas Rights Issue Details
| Issue Open | August 27, 2024 – September 10, 2024 |
| Security Name | Vinny Overseas Limited |
| Issue Size (Shares) | 232,623,311 |
| Issue Size (Amount) | ₹46.52 Crores |
| Issue Price | ₹2 per share |
| Face Value | ₹1 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The entire amount of the Issue Price of Rs.2/- per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 109.0 | 105.0 | 113.0 |
| Expenses | 111.0 | 97.0 | 103.0 |
| Operating Margin (%) | (2.0) | 9.0 | 8.0 |
| Net Income | (4.51) | 2.40 | 3.54 |
| ROCE (%) | (9.0) | 10.0 | 13.0 |
Rights Issue Documents
Vinny Overseas Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali Caves Road, Andheri
(East), Mumbai – 400 093, Maharashtra
Phone: 022 – 6263 8200
E-mail: rightsissue@bigshareonline.com
Website: www.bigshareonline.com
Company Contact Information
VINNY OVERSEAS LIMITED
B/H International Hotel Narol-Isanpur
Road Narol, Ahmedabad, Gujarat 382405 India
Phone: +91 9328804500
E-mail: cs@vinnyoverseas.in
Website: www.vinnyoverseas.in
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
