Visagar Financial Services Rights Issue will open for subscription from 12 January 2023. the company aims for an issue size of ₹49.74 Crores through this rights Issue.
Visagar Financial Services Limited
Incorporated in 1994, Visagar Financial Services Limited is a Non-Banking Financial Company (NBFC) and is registered with RBI to carry out its operations. The Company is a non-deposit-taking Non-Banking Financial Company (NBFC-Non-Systematically Important NonDeposit Taking Company categorized as Investment and Credit Company i.e. ICC).
The portfolio of Visagar Financial Services is broadly categorized into
- Investments – Quoted and Unquoted
- Lending – Secured and Unsecured
- Consulting – Financial Advisory and Corporate Advisory
The operations of Visagar Financial Services broadly include investing in securities of listed and unlisted companies. They precisely considered factors like opportunities, and market conditions; both long-term and short-term while investing. Visagar Financial Services has diversified its investments in a variety of sectors. They generate maximum revenue from the sale of shares. The company’s portfolio also includes providing secured and unsecured loans based on the client’s risk profiles.
Objectives of the Issue
- To augment our capital base and provide for our fund requirements for increasing our operational scale with respect to our NBFC activities; and
- General corporate purposes.
Issue Timetable
| Record Date | 30 December 2022 |
| Credit of Rights Entitlements | 11 January 2023 |
| Bid/Offer Opens On | 12 January 2023 |
| Renunciation of Rights Entitlements | 25 January 2023 |
| Bid/Offer Closes On | 02 February 2023 |
| Deemed Date of Allotment | 15 February 2023 |
| Credit Date | 16 February 2023 |
| Listing Date | 01 March 2023 |
Visagar Financial Services Rights Issue 2022 Details
| Issue Open | Jan 12, 2023 – Feb 2, 2023 |
| Security Name | Visagar Financial Services Limited |
| Issue Size (Shares) | 497,387,700 |
| Issue Size (Amount) | ₹49.74 Crores |
| Issue Price | ₹1 per share |
| Face Value | ₹1 per share |
| Listing At | BSE |
| Terms of Payment | The Issue Price of Re. 1.00 per Rights Equity Share shall be payable on application. |
| Entitlement | 51 Rights Equity Shares for every 10 fully paid-up Equity Shares held as on the Record Date |
Company Financials
| Period Ended | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-21 | 66.58 | -0.35 | 11.71 | 2.3 |
| 31-Mar-22 | 16.82 | 0.24 | 11.95 | 1.62 |
| 30-Sep-22 | 23.31 | -3.06 | 8.88 | 14.6 |
Visagar Financial Services Rights Issue Registrar
Adroit Corporate Services Pvt Ltd
Phone: 91- 22- 2859 6060/2859 4060
Email: divyan@adroitcorporate.com
Website: http://www.adroitcorporate.com
Company Contact Information
Visagar Financial Services Limited
907-908, Dev Plaza, 9th Floor,
S.V. Road, Andheri (West),
Mumbai – 400 058
Phone: +91 22 67424815
Email: companysecretary@sakumaexportsltd.com
Website: http://www.vfsl.org/
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
