Savani Financials Rights Issue is scheduled for 2 – 10 May 2024
Established in 1987, Savani Financials specializes in offering financial services. The company is registered as a Non-Systematically Important Non-Deposit Accepting Non-Banking Financial Investment and Credit Company. It provides a variety of investment and financial services to its clients.
With a strategic focus on utilizing cutting-edge technology and innovative financial products, Savani Financials aims to meet the unique needs of MSMEs by offering them accessible and customized financial solutions. The company did not make any investments, provide any guarantees or securities, or grant any loans or advances, whether secured or unsecured, to any person or entity.
Promoters of Savani Financials – Deepa Tracy, and Manish Chaudhari
Savani Financials Rights Issue Details
| Savani Financials Rights Issue Date | 2 – 10 May 2024 |
| Savani Financials Rights Issue Price | INR 17.50 per share |
| Issue Size (in Shares) | 28,285,714 shares |
| Issue Size (in INR) | INR 49.50 crore |
| Issue Entitlement | 7 equity shares for every 1 equity shares held on the record date |
| Terms of Payment | Fully payable at the time of application |
| Savani Financials Rights Issue Record Date | 4 April 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE |
Savani Financials Rights Issue Calculation
| Rights Issue Price | INR 17.50 per share |
| Market Price on Rights Issue Approval | INR 17.91 per share |
| Dilution Factor (X) | 8.0 |
| Fair Value After Dilution at Prevailing Price | INR 17.55 per share |
Savani Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 12.76 | 11.34 | 11.10 |
| Expenses | 8.21 | 9.59 | 15.72 |
| Operating Margin (%) | 38.46 | 18.18 | (63.64) |
| Net income | 4.55 | 1.51 | (7.36) |
| ROCE (%) | 2.34 | 0.92 | (3.27) |
Savani Financials Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- To augment the capital base
- Repay the Unsecured loan along with interest of INR 1.98 lakhs to the director post the completion of the Rights issue, a sum estimated at INR 91.98 Lakhs.
- General Corporate Purpose
Savani Financials Rights Offer Documents
Savani Financials Rights Issue Dates
| Rights Issue Approval Date | 30 March 2024 |
| Rights Issue Record Date | 4 April 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 2 May 2024 |
| Last Date for Market Renunciation | 7 May 2024 |
| Rights Issue Closing Date | 10 May 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Savani Financials Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Savani Financials Rights Offer 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:Â +91 22 6263 8200
Email:  [email protected]
Website:Â www.bigshareonline.com
SAVANI FINANCIALS LIMITED
602, Samarth Vaibhav CHS Limited, Off-Link Road,
Lokhandwala Complex, Andheri, Mumbai 400 053
Phone:Â +91 98209 04374
Email: [email protected]
Website: www.savanifinancials.co.in
Savani Financials Rights Offer FAQs
What is the Savani Financials Rights Issue Price?
The issue price is INR 17.50 per share.
What is the Savani Financials Rights Issue entitlement ratio?
The eligible shareholders are offered 7 Equity Shares for every 1 Equity Shares held on the record date.
What is the Savani Financials Rights Issue Record Date?
The Record date is 4 April 2024.
How to Apply for Savani Financials Rights Offer?
The best way to apply for Savani Financials 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.
