Diligent Industries Rights Issue is scheduled on 11 – 25 Nov 2024
Diligent Industries is engaged in the manufacturing, processing, and trading of edible oils, food, feeds, and agricultural commodities in India. To strengthen its market presence, the company continually strives to utilize its available resources and production capacity at an optimal level to remain competitive and stable in the industry.
Diligent Industries has expanded into the refined edible oils segment, a move that is expected to enhance its market presence and brand recognition, while also driving increased revenue shortly. The company operates a state-of-the-art processing plant situated in a lush, green 20-acre facility in West Godavari, Andhra Pradesh.
As of 31 March 2024, Diligent Industries employed 22 full-time staff members and required approximately 50 daily wage workers to support its operations. Diligent Industries manufactures the following products:
- Rice Bran Oil
- Palm Kernel Oil
- Cotton Oil
Promoters of the Diligent Industries – Ratna Kumari Vankineni, Phani Anupama Vankineni, Vankineni Bhanu Prakash, Vankineni Kiran Kumar, Vankineni Vijaya Lakshmi, Vankineni Padma Kumari, and Kalagara Savithri
Diligent Industries Rights Issue Details
| Diligent Industries Rights Issue Date | 11 – 25 November 2024 |
| Diligent Industries Rights Issue Price | INR 3.6 per share |
| Issue Size (in Shares) | 13,72,32,000 shares |
| Issue Size (in INR) | INR 49.40 crore |
| Issue Entitlement | 6 equity shares for every 5 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Diligent Industries Rights Issue Record Date | 24 October 2024 |
| Face Value | INR 1 per share |
| Listing On | BSE |
Diligent Industries Rights Issue Calculation
| Diligent Industries Rights Issue Price | INR 3.6 per share |
| Market Price on Rights Issue Approval | INR 5.05 per share |
| Dilution Factor (X) | 2.2 |
| Fair Value After Dilution at Prevailing Price | INR 4.26 per share |
Diligent Industries Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 102 | 121 | 122 |
| Expenses | 99 | 119 | 118 |
| OPM (%) | 3.0 | 2.0 | 4.0 |
| Net income | 1.37 | 2.17 | 2.03 |
| ROCE (%) | 8.0 | 9.0 | 7.0 |
Diligent Industries Rights Offer Objectives
The net proceeds from the offer are proposed to be used for the following objective
- Adjustment of Unsecured Loans against the Rights Entitlement of the Promoters
- Towards meeting working capital requirements
- General Corporate Purposes
Diligent Industries Rights Offer Documents
Diligent Industries Rights Issue Dates
| Rights Issue Approval Date | 16 October 2024 |
| Rights Issue Record Date | 24 October 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 11 November 2024 |
| Last Date for Market Renunciation | 18 November 2024 |
| Rights Issue Closing Date | 25 November 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Diligent Industries Rights Offer Registrar
VENTURE CAPITAL & CORPORATE INVESTMENTS PVT. LTD
“AURUM”, 4th & 5th Floors, Plot No.57, Jayabheri
Enclave Phase – II, Gachibowli, Hyderabad – 500032
Phone: +91 40 23818475 / 23818476
Email: [email protected]
Website: www.vccipl.com
DILIGENT INDUSTRIES LIMITED
Dwarka Thirumala Road, Dendurulu Village and
Mandal, West Godavari – 534 432, Andhra Pradesh, India
Phone: +91 8829-256077 / 08829-256099
E-mail: [email protected]
Website: www.diligentindustries.com
Diligent Industries Rights Offer FAQs
What is the Diligent Industries Rights Issue Price?
The issue price is INR 3.6 per share.
What is the Diligent Industries Rights Issue entitlement ratio?
The eligible shareholders are offered 6 Equity Shares for every 5 Equity Shares held on the record date.
What is the Diligent Industries Rights Issue Record Date?
The Record date is 24 October 2024.
How to Apply in the Diligent Industries Rights Offer?
The best way to apply in the Diligent Industries 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.
