Sru Steels Rights Issue is scheduled on 9 – 24 September 2024
Founded on 11 September 1995, SRU Steels is a key player in the steel industry, specializing in the trading and wholesaling of a wide range of steel and iron products. The company supplies materials primarily for infrastructure and housing projects across India, meeting the increasing demands of these sectors. Known for its commitment to quality, SRU Steels offers an extensive selection of products, including stainless steel, carbon steel, and mild steel, earning a strong reputation as a trusted partner in the construction and manufacturing industries.
In the financial year ending 31 March 2023, SRU Steels reported a total income of INR 18.32 crores, indicating a recovery from the previous year’s downturn. However, this performance also underscores the ongoing volatility in the company’s revenue stream.
Promoters of Sru Steels – Anant Overseas Private Limited, and Ujala Stainless Private Limited
Sru Steels Rights Issue Details
| Sru Steels Rights Issue Date | 9 – 24 September 2024 |
| Sru Steels Rights Issue Price | INR 10 per share |
| Issue Size (in Shares) | 4,79,51,400 shares |
| Issue Size (in INR) | INR 47.95 crore |
| Issue Entitlement | 4 equity shares for every 1 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Sru Steels Rights Issue Record Date | 31 August 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE |
Sru Steels Rights Issue Calculation
| Sru Steels Rights Issue Price | INR 10 per share |
| Market Price on Rights Issue Approval | INR 9.53 per share |
| Dilution Factor (X) | 5 |
| Fair Value After Dilution at Prevailing Price | INR 9.91 per share |
Sru Steels Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 14.10 | 15.79 | 18.32 |
| Expenses | 14.48 | 15.37 | 17.80 |
| Operating Margin (%) | (2.70) | 2.66 | 2.84 |
| Net Income | 0.23 | 0.69 | 0.33 |
| ROCE (%) | 3.53 | 9.43 | 3.27 |
All Standalone Data
Sru Steels Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- To meet the working capital requirements of the company – INR 40 crore
- General corporate purposes – INR 8.25 crore
Sru Steels Rights Offer Documents
Sru Steels Rights Issue Dates
| Rights Issue Approval Date | 27 August 2024 |
| Rights Issue Record Date | 31 August 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 9 September 2024 |
| Last Date for Market Renunciation | 18 September 2024 |
| Rights Issue Closing Date | 24 September 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Sru Steels Rights Offer Registrar
BEETAL FINANCIAL & COMPUTER SERVICES PRIVATE LIMITED
Beetal House, 3rd Floor, 99, Madangir,
Behind Local Shopping Centre, New Delhi – 110062
Telephone:Â +91-11-29961281/83, +91-11-26051061, +91-11-26051064
Email: [email protected]
Website:Â www.beetalfinancial.com
SRU STEELS LIMITED
107/22 Gali No. 3, East Azad Nagar,
Shahdara, Delhi, India,110051
Phone:Â 011 27474749
Email: [email protected]
Website: www.srusteels.in
Sru Steels Rights Offer FAQs
What is Sru Steels Rights Issue Price?
The issue price is INR 10 per share.
What is Sru Steels Rights Issue entitlement ratio?
The eligible shareholders are offered 4 Equity Shares for every 1 Equity Shares held on the record date.
What is Sru Steels Rights Issue Record Date?
The Record date is 31 August 2024.
How to Apply in Sru Steels Rights Offer?
The best way to apply in Sru Steels 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.
