Yarn Syndicate Rights Issue will open for subscription from 06 February 2024. the company aims for an issue size of ₹48.60 Crores through this rights Issue.
About the company
Incorporated in 1945, Yarn Syndicate Limited is a dealer of all types of Yarn. The company is an exporter of cotton yarn, polyester cotton yarn, polyester viscose yarn, flax yarn, jute yarn, bamboo yarn, and organic yarn. The company’s product portfolio includes cotton yarn, synthetic yarn, blended yarn, heather yarn, knitted fabric, and woven fabric. The company is ISO 9001:2008 certified for Quality Management Systems. The Company exports various types of yarn, including 100% cotton, polyester, and viscose yarn, as well as jute yarn, flax yarn, and raw cotton.
Objectives of the Issue
- Acquisition of Equity shares in Stitched Textiles Limited;
- Incremental working capital requirements.
- General Corporate Purpose
Yarn Syndicate Rights Issue Rights Issue Timetable
| Last Date to buy shares | 23 January 2024 |
| Record Date | 24 January 2024 |
| Credit of Rights Entitlements | 30 January 2024 |
| Bid/Offer Opens On | 06 February 2024 |
| Renunciation of Rights Entitlements | 16 February 2024 |
| Bid/Offer Closes On | 21 February 2024 |
| Deemed Date of Allotment | 28 February 2024 |
| Credit Date | 29 February 2024 |
| Listing Date | 04 March 2024 |
Yarn Syndicate Rights Issue Details
| Issue Open | February 6, 2024 – February 21, 2024 |
| Security Name | Yarn Syndicate Ltd. |
| Issue Size (Shares) | 18,000,000 |
| Issue Size (Amount) | ₹48.60 Crores |
| Issue Price | ₹27 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.27/- shall be payable by the eligible shareholders in the following manner: 1. Rs. 13.50 at the time of application and 2. Balance Rs. 13.50 in 1st and Final call, as determined by the Board in consultation with the Rights Issue Committee |
| Entitlement | 24 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date |
Yarn Syndicate Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 0.18 | 0.45 | 0.36 |
| Revenue | 0.03 | 0.60 | 0.00 |
| Profit After Tax | -0.16 | 0.40 | 0.35 |
| Net Worth | |||
| Reserves and Surplus | -4.17 | -4.01 | -4.41 |
Yarn Syndicate Rights Issue Documents
Lead Manager(s)
–
Yarn Syndicate Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: rights@cameoindia.com
Website: https://ipo.cameoindia.com/
Yarn Syndicate Contact Information
Yarn Syndicate Ltd.
86/2/4, S N Banerjee Road
1st Floor, Flat No. 2
Kolkata – 700 014
Phone: +91 9727170232
Email: ysl@yarnsyndicate.in
Website: https://www.yarnsyndicate.in/
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
