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Akshar Spintex Ltd Rights Issue (Akshar Spintex Rights Issue 2024) Detail

September 9, 2024 - September 30, 2024
Akshar Spintex Ltd Logo

Founded in 2013, Akshar Spintex Limited is active in the production of cotton yarn.

The company manufactures 100% cotton yarn which includes combed, semi-combed, and carded yarn. The company's manufacturing facility is located at Kalavad in Jamnagar district in the state of Gujarat and is spread over an area of 1,83,437 sq. ft. which is close to the rich cotton-growing areas of Gujarat. The company has installed a total capacity of 24,480 spindles.

The company's product range includes:

  • Fibers: 100% natural cotton (Sankar -6), 100% natural cotton (MCU-5), 100% natural cotton (MECH-1), 100% BCI certified cotton, 100% organically certified cotton, 100% viscose, 100% modal and 100% excel
  • Yarns: 100% carded cotton yarn (16 to 44 thread count), 100% semi-combed cotton yarn (16 to 44 thread count), 100% combed cotton yarn (16 to 44 thread count), slub yarn, core-spun yarn, TFO yarn, Eli Twist yarn, fancy yarn, melange yarn, blended yarn, BCI-certified yarn, and organic yarn

As of March 31, 2023, the company had 160 employees.

Akshar Spintex Rights Issue 2024 Detail

Issue Open September 9, 2024 - September 30, 2024
Security Name Akshar Spintex Ltd
Issue Size (Shares) 487,480,500
Issue Size (Amount) ₹48.75 Crores
Issue Price ₹1 per share
Face Value ₹1 per share
Listing At BSE, NSE
Terms of Payment
Entitlement 13 Rights Equity Share(s) for every 8 fully paid-up Equity Shares held on Record Date

Akshar Spintex Rights Issue 2024 Issue Timetable

Last Date to buy sharesAugust 22, 2024
Record Date August 23, 2024
Credit of Rights Entitlements
Bid/Offer Opens On September 9, 2024
Renunciation of Rights Entitlements September 24, 2024
Bid/Offer Closes On September 30, 2024
Deemed Date of Allotment
Credit Date
Listing Date

Company Financials

Akshar Spintex Ltd Financial Information (Restated)

Period Ended31 Mar 202331 Mar 2022
Assets76.4492.88
Revenue137.92175.57
Profit After Tax-2.767.02
Reserves and Surplus15.6418.23
Amount in ₹ Crore

Objects of the Issue:

The Company proposes to utilize the net proceeds raised through the Issue for the below mentioned Objects:

  1. To repay in full certain identified long-term unsecured loans obtained by the Company;
  2. To augment the existing and incremental working capital requirement of the Company; and
  3. General Corporate Purposes.

Akshar Spintex Rights Issue 2024 Documents

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Company Contact Information

Akshar Spintex Ltd
Revenue Survey No.102/2 Paiki,
Plot No. - 2 Village: Haripar,
Ranuja Road. Tal: Kalavad. Jamnagar � 361013

Phone: 917574887015
Email: cs@aksharspintex.in
Website: http://www.aksharspintex.in/

Akshar Spintex Rights Issue 2024 Registrar

  1. Bigshare Services Pvt Ltd
    Phone: +91-22-6263 8200
    Email: rightsissue@bigshareonline.com
    Website: https://ipo.bigshareonline.com/ipo_status.html

Akshar Spintex Rights Issue 2024 Lead Manager(s)

Find Akshar Spintex Rights Issue 2024 Latest Update

Akshar Spintex Rights Issue 2024 FAQs

The Akshar Spintex Rights Issue 2024 opens on September 9, 2024, and closes on September 30, 2024.

Akshar Spintex Rights Issue 2024 Schedule

Last Date for credit of Rights Entitlements
Last Date for renunciation of Rights EntitlementsSeptember 24, 2024
Issue Opening DateSeptember 9, 2024
Issue Closing DateSeptember 30, 2024
Date of Allotment (on or about)
Date of Credit (on or about)
Date of Listing (on or about)

Akshar Spintex Rights Issue 2024 price is set at ₹1 per share per equity share.

The eligible shareholders are being offered 13 Rights Equity Share(s) for every 8 fully paid-up Equity Shares held on Record Date (August 23, 2024).

The record date for the Akshar Spintex Rights Issue 2024 is August 23, 2024.

The issue size of Akshar Spintex Rights Issue 2024 is of 487,480,500 equity shares at ₹1 per share aggregating upto ₹48.75 Crores.

The Letter of Offer for Akshar Spintex Rights Issue 2024 can be download here.

You can apply for Akshar Spintex Rights Issue 2024 in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for Akshar Spintex Rights Issue 2024 using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the Akshar Spintex Rights Issue 2024 available on the list.
  4. Click the Apply button next to the Akshar Spintex Rights Issue 2024.
  5. Fill and check your information.
  6. Submit the application.

Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.

Steps to apply for Akshar Spintex Rights Issue 2024 using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select Akshar Spintex Rights Issue 2024 from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.

1 Comments

1. Murthy   I Like It. |Report Abuse|  Link|August 20, 2024 10:26:11 AMReply
Draft Letter of offer
https://www.bseindia.com/corporates/download/11848/Rights/DLOF_ASL%2030042024_20240430203531.pdf

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