VMS Industries Rights Issue is scheduled for 2 – 16 May 2024
Incorporated in 1991, VMS Industries is engaged in shipbreaking and trades in both ferrous and non-ferrous metals. The company’s headquarters is located in Ahmedabad, Gujarat. VMS Industries operates in three business segments: Ship Recycling, Assets Dismantling/ Demolition, and Trading of various Metals.
The company’s shipbreaking yard is situated in the Alang-Sosiya belt, which accounts for approximately 90% of India’s shipbreaking activities and serves as the nation’s largest shipbreaking hub. VMS operates one plot for its ship recycling business in Alang, which is leased from the Gujarat Maritime Board on a 10-year agreement that is subject to renewal upon expiration.
As of March 2024, the company has recycled 37 ships, including vessels such as Annoula, Colombo Star 2, Jamaima, Kapadokia, and Loretta D, at the Alang Ship Breaking Yard. The company employs a total of 40 staff members.
Promoters of VMS Industries – Manoj Kumar Jain, and Sangeeta Jain
VMS Industries Rights Issue Details
| VMS Industries Rights Issue Date | 2 – 16 May 2024 |
| VMS Industries Rights Issue Price | INR 35 per share |
| Issue Size (in Shares) | 8,000,000 shares |
| Issue Size (in INR) | INR 28.0 crore |
| Issue Entitlement | 16 equity shares for every 33 equity shares held on the record date |
| Terms of Payment | Fully payable at the time of application |
| VMS Industries Rights Issue Record Date | 18 April 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE |
VMS Industries Rights Issue Calculation
| Rights Issue Price | INR 35 per share |
| Market Price on Rights Issue Approval | INR 44.22 per share |
| Dilution Factor (X) | 1.48 |
| Fair Value After Dilution at Prevailing Price | INR 41.21 per share |
VMS Industries Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 153.28 | 157.64 | 140.39 |
| Expenses | 155.90 | 161.28 | 142.40 |
| Operating Margin (%) | 3.18 | 2.41 | 3.57 |
| Net income | 1.06 | 1.08 | 2.50 |
| ROCE (%) | 5.00 | 4.00 | 2.91 |
VMS Industries Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Funding long-term working capital requirements of the company
- General Corporate Purpose
VMS Industries Rights Offer Documents
VMS Industries Rights Issue Dates
| Rights Issue Approval Date | 12 April 2024 |
| Rights Issue Record Date | 18 April 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 2 May 2024 |
| Last Date for Market Renunciation | 10 May 2024 |
| Rights Issue Closing Date | 16 May 2024 |
| Finalization of Basis of Allotment | Coming soon |
| VMS Industries Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
VMS Industries Rights Offer Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building’, No.1,
Club House Road, Chennai 600002, Tamilnadu
Telephone: +91-44 – 28460390
Email: [email protected]
Website:Â www.cameoindia.com
VMS INDUSTRIES LIMITED
808/C Pinnacle Business Park Corporate Road,
Prahladnagar, Ahmedabad, Gujarat – 380015
Phone:Â +91-99789 41676
Email: [email protected]
Website: www.vmsil.in
VMS Industries Rights Offer FAQs
What is the VMS Industries Rights Issue Price?
The issue price is INR 35 per share.
What is the VMS Industries Rights Issue entitlement ratio?
The eligible shareholders are offered 16 Equity Shares for every 33 Equity Shares held on the record date.
What is the VMS Industries Rights Issue Record Date?
The Record date is 18 April 2024.
How to Apply in VMS Industries Rights Offer?
The best way to apply in VMS 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.
