Yarn Syndicate Rights Issue

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 shares23 January 2024
Record Date24 January 2024
Credit of Rights Entitlements30 January 2024
Bid/Offer Opens On06 February 2024
Renunciation of Rights Entitlements16 February 2024
Bid/Offer Closes On21 February 2024
Deemed Date of Allotment28 February 2024
Credit Date29 February 2024
Listing Date04 March 2024

Yarn Syndicate Rights Issue Details

Issue OpenFebruary 6, 2024 – February 21, 2024
Security NameYarn 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 AtBSE
Terms of PaymentIssue 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
Entitlement24 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date

Yarn Syndicate Financials

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Profit After Tax-0.160.400.35
Net Worth
Reserves and Surplus-4.17-4.01-4.41
(Amount in ₹ Crore)

Yarn Syndicate Rights Issue Documents

Lead Manager(s)

Yarn Syndicate Registrar

Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: rights@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

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

Leave a Comment

Your email address will not be published. Required fields are marked *