Ashnoor Textile Rights Issue is scheduled for 7 – 16 May 2024
Ashnoor Textile Mills focuses primarily on producing terry towels to serve the hospitality industry. It also manufactures colored towels according to market demand, and all company activities revolve around this core business as a single unit. Additionally, there are no geographical segments since all of the company’s operations take place solely within India.
As of 30 June 2023, the company has produced over 845 tons of terry towels. The company consistently works to uphold high standards in all aspects of its operations, from combing yarn to shipping towels internationally. Over 90% of its export sales are directed to the USA. The company employs 296 people across its operations as of the same date.
Promoters of Ashnoor Textile – Mr. Suneel Gupta, Ms. Sangeeta Gupta, Mr. Abhinav Gupta, and Ms. Noor Gupta
Ashnoor Textile Rights Issue Details
| Ashnoor Textile Rights Issue Date | 7 – 16 May 2024 |
| Ashnoor Textile Rights Issue Price | INR 20 per share |
| Issue Size (in Shares) | 3,186,462 shares |
| Issue Size (in INR) | INR 6.37 crore |
| Issue Entitlement | 1 equity shares for every 4 equity shares held on the record date |
| Terms of Payment | Fully payable at the time of application |
| Ashnoor Textile Rights Issue Record Date | 26 April 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE |
Ashnoor Textile Rights Issue Calculation
| Rights Issue Price | INR 20 per share |
| Market Price on Rights Issue Approval | INR 66.58 per share |
| Dilution Factor (X) | 1.25 |
| Fair Value After Dilution at Prevailing Price | INR 57.26 per share |
Ashnoor Textile Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 118.24 | 261.86 | 176.96 |
| Expenses | 108.69 | 246.62 | 165.90 |
| Operating Margin (%) | 10.59 | 7.35 | 9.21 |
| Net income | 5.42 | 8.96 | 6.12 |
| ROCE (%) | 9.00 | 13.00 | 9.00 |
Ashnoor Textile Mills Rights Issue Objectives
The net proceeds from the offer are proposed to be used for
- Adjustment of unsecured loans against the entitlement of the promoters of the company
- General Corporate Purpose
- To meet the Rights Issue Expenses
Ashnoor Textile Mills Rights Issue Documents
Ashnoor Textile Rights Issue Dates
| Rights Issue Approval Date | 24 April 2024 |
| Rights Issue Record Date | 26 April 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 7 May 2024 |
| Last Date for Market Renunciation | 13 May 2024 |
| Rights Issue Closing Date | 16 May 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Ashnoor Textile Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Ashnoor Textile Rights Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 8108114949
Email: [email protected]
Website:Â www.linkintime.co.in
Ashnoor Textile Contact Details
ASHNOOR TEXTILE MILLS LIMITED
Behrampur, Khandsa Village,
Gurugram, Haryana-122001, India
Phone:Â 0124-4809755
Email: [email protected]
Website: www.ashnoortex.com
Ashnoor Textile Rights Offer FAQs
What is the Ashnoor Textile Rights Issue Price?
The issue price is INR 20 per share.
What is the Ashnoor Textile Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 4 Equity Shares held on the record date.
What is the Ashnoor Textile Rights Issue Record Date?
The Record date is 26 April 2024.
How to Apply for Ashnoor Textile Rights Offer?
The best way to apply for the Ashnoor Textile 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.
