Suraj Industries Rights Issue is scheduled on 22 Jul – 5 Aug 2024
Incorporated in 1992, Suraj Industries trades in edible oils such as palm oil, soybean oil, rice flakes, malt, and empty glass bottles—additionally, the company processes and bottles liquor. Currently, the company’s business operations are divided into two main areas:
- Trading edible oils and other products, including palm oil, soybean oil, rice flakes, malt, and empty glass bottles.
- Processing and bottling liquor, specifically Rajasthan Made Liquor (RML), for Rajasthan State Ganganagar Sugar Mills Limited (RSGSM), a Government of Rajasthan undertaking with exclusive wholesale rights for Country Liquor and RML in Rajasthan.
For FY 2022, the company generated 68% of its revenue from trading edible oils and 1.38% from trading rice flakes, malt, and empty glass bottles. The processing and bottling of liquor accounted for 30% of the annual revenue for FY 2022.
Promoters of Suraj Industries – Anuj Mundhra, Vandana Mundhra, Sunita Devi Mundhra, and Dwarka Dass Mundhra
Suraj Industries Rights Issue Details
| Suraj Industries Rights Issue Date | 22 Jul – 5 Aug 2024 |
| Suraj Industries Rights Issue Price | INR 65 per share |
| Issue Size (in Shares) | 29,97,375 shares |
| Issue Size (in INR) | INR 19.48 crore |
| Issue Entitlement | 7 equity shares for every 30 equity shares held on record date |
| Terms of Payment | The Issue Price of INR 65 per Rights Equity Share shall be payable in 2 equal tranches, i.e. INR 32.50 at the time of Application and balance INR 32.50 at the time of one or more subsequent call(s) as may be decided by the Board/ Rights Issue Committee of the Board from time to time |
| Suraj Industries Rights Issue Record Date | 10 July 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE |
Suraj Industries Rights Issue Calculation
| Suraj Industries Rights Issue Price | INR 65 per share |
| Market Price on Rights Issue Approval | INR 70.73 per share |
| Dilution Factor (X) | 1.23 |
| Fair Value After Dilution at Prevailing Price | INR 69.65 per share |
Suraj Industries Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 41.26 | 67.38 | 51.06 |
| Expenses | 36.56 | 60.04 | 48.39 |
| Operating Margin (%) | 11.50 | 13.18 | 8.63 |
| Net Income | 3.07 | 4.77 | 1.55 |
| ROCE (%) | – | 1.79 | 76.89 |
Suraj Industries Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Repayment/prepayment in full or part, of certain unsecured loans availed by the company – INR 7.50 crore
- Grant of loan to its Subsidiary, M/s. Carya Chemicals & Fertilizers Private Limited – INR 7.50 crore
- General corporate purposes – INR 4.18 crore
Suraj Industries Rights Offer Documents
Suraj Industries Rights Issue Dates
| Rights Issue Approval Date | 4 July 2024 |
| Rights Issue Record Date | 10 July 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 22 July 2024 |
| Last Date for Market Renunciation | 30 July 2024 |
| Rights Issue Closing Date | 5 August 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Suraj Industries 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
SURAJ INDUSTRIES LIMITED
F-32/3, Second Floor, Okhla Industrial Area,
Phase – II, New Delhi – 110020
Phone:Â +91-11-42524455
E-mail: [email protected]
Website:Â www.surajindustries.org
Suraj Industries Rights Offer FAQs
What is the Suraj Industries Rights Issue Price?
The issue price is INR 65 per share.
What is the Suraj Industries Rights Issue entitlement ratio?
The eligible shareholders are offered 7 Equity Shares for every 30 Equity Shares held on the record date.
What is the Suraj Industries Rights Issue Record Date?
The Record date is 10 July 2024.
How to Apply for the Suraj Industries Rights Offer?
The best way to apply for the Suraj 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.
