Sobha Rights Issue Date, Price, Market Lot, Subscription 2024

Sobha Rights Issue Date, Price, Market Lot, Subscription 2024


Sobha Rights Issue

Sobha Rights Issue is scheduled on 28 Jun – 4 Jul 2024

Sobha is a leading real estate company in India that offers residential homes and manufactures construction-related products. The company’s focus on design, construction quality, building materials, and technology has allowed us to diversify and expand its offerings. The company has expanded to other cities in India including Gurugram, Chennai, Pune, and Kochi.

Recently, the company launched projects in Hyderabad and Trivandrum. Apart from developing real estate projects under the ‘Sobha‘ brand. The company also provides engineering, procurement, and construction services for institutional customers.

As of 31 March 2024, it has completed construction of 136.25 million square feet across 27 cities in India and currently has 38.36 million square feet of developable area for projects. In the last fiscal year, the company completed construction of over 7 million square feet across the real estate and contractual projects and the company has 69 ongoing projects and 21 forthcoming projects as of 31 March 2024, comprising residential and commercial developments.

Sobha Rights Issue

Promoters of Sobha – PNC Menon, Sobha Menon, and Ravi PNC Menon


Sobha Rights Issue Details

Sobha Rights Issue Date 28 Jun – 4 Jul 2024
Sobha Rights Issue Price INR 1,651 per share
Issue Size (in Shares) 1,21,07,981 share
Issue Size (in INR) INR 2,000 crore
Issue Entitlement 6 equity shares for every 47 equity shares held on record date
Terms of Payment INR 825 on application. INR 825 in not more than two subsequent Calls, with terms and conditions such as the number of Calls and the timing and quantum of each Call, as may be decided by our Board/ Rights Issue Committee from time to time, to be completed on or before 31 December 2025
Rights Issue Record Date 19 June 2024
Face Value INR 10 per share
Listing On NSE, BSE

Sobha Rights Issue Calculation

Sobha Rights Issue Price INR 1,651 per share
Market Price on Rights Issue Approval INR 2,062.50 per share
Dilution Factor (X) 1.13
Fair Value After Dilution at Prevailing Price INR 2,015.92 per share

Sobha Financial Performance

  FY 2022 FY 2023 FY 2024
Revenue 2,561 3,310 3,097
Expenses 2,028 2,941 2,820
Operating Margin (%) 21.0 11.0 9.0
Net Income 173.00 104.00 49.00
ROCE (%) 10.00 8.00 –
Figures in INR Crores unless specified otherwise

Sobha Rights Offer Objectives

The net proceeds from the offer are proposed to be used for

  • Repayment or prepayment, in full or in part, of certain borrowings availed by the company – INR 905 crore
  • Funding certain project-related expenses for ongoing projects and forthcoming projects – INR 212.36 crore
  • Purchase of equipment and machinery – INR 210.03 crore
  • Funding acquisition of unidentified land parcels and general corporate purposes – INR 658.59 crore

Sobha Rights Offer Documents


Sobha Rights Issue Dates

Rights Issue Approval Date 12 June 2024
Rights Issue Record Date 19 June 2024
Credit of Rights Entitlement 27 July 2024
Rights Issue Opening Date 28 June 2024
Last Date for Market Renunciation 1 July 2024
Rights Issue Closing Date 4 July 2024
Finalization of Basis of Allotment 11 July 2024
Rights Allotment Date 12 July 2024
Credit Date 15 July 2024
Listing Date 16 July 2024

Sobha 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: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in


SOBHA LIMITED
SOBHA, Sarjapur-Marathahalli, Outer Ring Road (ORR),
Devarabisanahalli, Bellandur Post, Bangalore 560 103
Phone: +91 80 4932 0000
Email: 
[email protected]
Website:
www.sobha.com


Sobha Rights Offer FAQs

What is the Sobha Rights Issue Price?

The issue price is INR 1,651 per share.

What is the Sobha Rights Issue entitlement ratio?

The eligible shareholders are offered 6 Equity Shares for every 47 Equity Shares held on the record date.

What is the Sobha Rights Issue Record Date?

The Record date is 19 June 2024.

How to Apply for Sobha Rights Offer?

The best way to apply for the Sobha 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.



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