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Right Issue Status: Upcoming [7th May 2024 to 16th May 2024]
Ashnoor Textile Mills Limited is offering a rights issue of Rs 6.37 Cr . The subscription for this Rights Issue is opening from 07 May 2024 to 16 May 2024. The company issues entitlement of 01 Rights equity shares for every fully paid-up 04 equity shares Held on the record date is 26 Apr 2024. The face value of a share is Rs.10 per share and the right issue price is fixed at Rs 20 for each share
Stay connected with us to more about Ashnoor Textile Mills Limited Right Issue Details 2024 including issue size, right issue entitlement, terms of payment, sand more.
The company intends to utilize the Net Proceeds from this Issue towards funding the following objects:
➢ Adjustment of unsecured loans against the entitlement of the promoters of the Company; and
➢ General Corporate Purposes.
➢ To meet the Rights Issue Expenses
| Ashnoor Textile Mills Issue Details | Values |
|---|---|
| Category | RightIssue |
| Right Issue Issue Size (Shares) | 0.32 Cr Shares |
| Right Issue Issue Size (Amount) | ₹6.37 Cr |
| Face Value | ₹10 Per Equity Share |
| Right Issue - Issue Price | ₹20 per share |
| Right Issue Record Date | 26th Apr 2024 |
| Right Issue Entitlement | 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date |
| Right Issue Terms of payment | The Issue Price of Rs.20/- (Rupees Twenty Only) per Rights Equity Share (including premium of Rs.10/- each) payable on application |
| Listing At | BSE |
| BSE Code | 507872 |
| NSE Code |
In this section we have covered all important dates related to Ashnoor Textile Mills Right Issue. Dates are updated as they are announced. The most noted dates are Right Issue start date and Right Issue end date, which one should use to participate in Right Issue.
| Right Issue Activity | Date |
|---|---|
| Right Issue Issue Open Date | 7th May 2024 |
| Right Issue Issue Close Date | 16th May 2024 |
| Basis of Allotment Finalisation Date* | |
| Refunds Initiation* | 13th May 2024 |
| Credit of Shares to Demat Account* | |
| Right Issue Listing Date* |
* - Tentative Dates
Zerodha Trade@20
Ashnoor Textile Mills Limited was incorporated in January 1984. The company is primarily engaged in the manufacture of terry towels for the hospitality industry. It also manufactures colored towels to meet the demand in the target market and all the activities of the company revolve around this main business as a single entity. Further, there are no geographical segments as the company operates exclusively in India.
As of June 30, 2023, the company has produced over 845 tons of terry products. The company constantly strives to maintain high standards in all areas, be it combing the yarn or shipping towels overseas. More than 90% of export sales are to the USA. The products are sold to wholesalers in the USA, who sell them on to hotels, which are essentially the end consumers.
The entire production infrastructure for manufacturing terry towels is available in the company’s modern production facility. India is a cotton yarn surplus country, which coupled with cheap labor gives a competitive advantage to the Indian terry towel industry. These macro factors enable the company to offer its products at competitive prices in the export markets. The company sells its products to the US based wholesalers who resell them to the hotel chains who are basically their end consumers.
Past performance and financial results of Ashnoor Textile Mills .
Ashnoor Textile Mills Ltd.'s revenue decreased by -32.23% and profit after tax (PAT) dropped by -31.61% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 138.27 | 145.64 | 179.18 | 122.85 |
| Revenue | 31.97 | 177.79 | 262.32 | 118.75 |
| Profit After Tax | 2.40 | 6.12 | 8.96 | 5.42 |
| Net Worth | 59.03 | 56.62 | 50.50 | 41.54 |
| Amount in ₹ Crore | ||||
The table below is live update of Right Issue bidding details from NSE and BSE.
Ashnoor Textile Mills Right Issue Offer Document (Letter of Offer) >>Document
Ashnoor Textile Mills Right Issue Offer Document (Letter of Offer) >>Ashnoor Textile Mills Right Issue Red Herring Prospectus is not yet available.
Ashnoor Textile Mills Right Issue Online Application (Registrar & Transfer Agent) >>Online Application
Ashnoor Textile Mills Right Issue Online Application (Registrar & Transfer Agent) >>Ashnoor Textile Mills Right Issue RTA information is not yet available.
Last Updated on 2024-05-05T23:32:45+00:00
