Ashapuri Gold Rights Issue is scheduled on 8 – 27 May 2024
Established in 2008, Ashapuri Gold Ornament specializes in manufacturing and trading gold ornaments and various designs. Initially, until March 2019, the company focused on wholesale trading of jewelry, which was produced through job work in Ahmedabad and Rajkot. The designs are created either in-house or by third parties on behalf of the company, and the jewelry is manufactured on a job-work basis. Ashapuri Gold Ornament operates a showroom spanning 2,945 square feet in a prime location on C.G. Road, Ahmedabad.
Ashapuri Gold Ornament has established sales teams in various regions and cities such as Delhi, Rajasthan, Punjab, Uttar Pradesh, Kolkata, Chennai, and Bangalore to expand its business further. In fiscal year 2023, the company operated branch offices in Bangalore, New Delhi, and Mumbai.
As of 31 March 2023, the company had a total of 64 employees. The total revenue from the company’s operations during the financial year 2022-23 was INR 158.14 crore, a decrease of 3.55% compared to the previous year’s revenue of INR 163.96 crore.
Promoters of Ashapuri Gold Ornament – Sumit Mazumder, Manju Mazumder, and Indocrest Defence Solutions Private Limited
Ashapuri Gold Ornament Rights Issue Details
| Ashapuri Gold Rights Issue Date | 8 – 27 May 2024 |
| Ashapuri Gold Rights Issue Price | INR 5.85 per share |
| Issue Size (in Shares) | 83,328,666 shares |
| Issue Size (in INR) | INR 48.75 crore |
| Issue Entitlement | 1 equity shares for every 3 equity shares held on the record date |
| Terms of Payment | Fully payable at the time of application |
| Ashapuri Gold Rights Issue Record Date | 18 April 2024 |
| Face Value | INR 1 per share |
| Listing On | BSE |
Ashapuri Gold Ornament Rights Issue Calculation
| Ashapuri Gold Rights Issue Price | INR 5.85 per share |
| Market Price on Rights Issue Approval | INR 11.62 per share |
| Dilution Factor (X) | 1.33 |
| Fair Value After Dilution at Prevailing Price | INR 10.18 per share |
Ashapuri Gold Ornament Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 163.85 | 158.01 | 165.07 |
| Expenses | 158.74 | 154.70 | 155.89 |
| Operating Margin (%) | 3.26 | 2.39 | 6.91 |
| Net income | 3.07 | 1.79 | 7.43 |
| ROCE (%) | 5.23 | 3.31 | 11.60 |
Ashapuri Gold Rights Issue Objectives
The net proceeds from the offer are proposed to be used for
- Meeting the working capital requirements of the company
- General corporate purposes
Ashapuri Gold Ornament Rights Offer Documents
Ashapuri Gold Rights Issue Dates
| Rights Issue Approval Date | 10 April 2024 |
| Ashapuri Gold Rights Issue Record Date | 18 April 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 8 May 2024 |
| Last Date for Market Renunciation | 21 May 2024 |
| Rights Issue Closing Date | 27 May 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Ashapuri Gold Rights Issue Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: [email protected]
Website: www.bigshareonline.com
ASHAPURI GOLD ORNAMENT LTD
109 to 112A, 1st Floor Supermall, Nr. Lal Bungalow,
C.G. Road, Ahmedabad – 380009 Gujarat
Phone: +9179-26462170-71
Email: [email protected]
Website: www.ashapurigold.com
Ashapuri Gold Rights Offer FAQs
What is the Ashapuri Gold Rights Issue Price?
The issue price is INR 5.85 per share.
What is the Ashapuri Gold Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 3 Equity Shares held on the record date.
What is the Ashapuri Gold Rights Issue Record Date?
The Record date is 18 April 2024.
How to Apply in Ashapuri Gold Rights Offer?
The best way to apply in Ashapuri Gold Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
