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Founded in January 1984, Ashnoor Textile Mills Limited produces and exports high-quality terry towels. The company's primary business is manufacturing towels, including coloured towels, based on market demand. All company operations occur in India, and there are no geographical segments. The company operates as a single unit focused on its core business.
As of June 30, 2023, the company has produced more than 845 tons of terry towels.
Ashnoor Textile Mills is an ISO 9001and 140001 certified company that exports terry towels to the US.
The company has 296 employees working across its operations as of June 30, 2023.
| Issue Open | May 7, 2024 - May 16, 2024 |
| Security Name | Ashnoor Textile Mills Ltd. |
| Issue Size (Shares) | 3,186,462 |
| Issue Size (Amount) | ₹6.37 Crores |
| Issue Price | ₹20 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The Issue Price of Rs.20/- (Rupees Twenty Only) per Rights Equity Share (including premium of Rs.10/- each) payable on application |
| Entitlement | 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date |
| Last Date to buy shares | April 25, 2024 |
| Record Date | April 26, 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | May 7, 2024 |
| Renunciation of Rights Entitlements | May 13, 2024 |
| Bid/Offer Closes On | May 16, 2024 |
| Deemed Date of Allotment | May 24, 2024 |
| Credit Date | May 30, 2024 |
| Listing Date | June 3, 2024 |
Ashnoor Textile Mills Ltd.'s revenue decreased by -32.23% and profit after tax (PAT) dropped by -31.61% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 138.27 | 145.64 | 179.18 | 122.85 |
| Revenue | 31.97 | 177.79 | 262.32 | 118.75 |
| Profit After Tax | 2.40 | 6.12 | 8.96 | 5.42 |
| Net Worth | 59.03 | 56.62 | 50.50 | 41.54 |
| Amount in ₹ Crore | ||||
The company intends to utilize the Net Proceeds from this Issue towards funding the following objects:
➢ Adjustment of unsecured loans against the entitlement of the promoters of the Company; and
➢ General Corporate Purposes.
➢ To meet the Rights Issue Expenses
Ashnoor Textile Mills Rights Issue 2024 got oversubscribed by 3.73 times by the end of the bidding period with total bid quantity received by BSE of 11,869,742 shares.
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Ashnoor Textile Mills Ltd.
Behrampur,
Khandsa Village,
Gurugram - 122001
Phone: 0124-4809755
Email: accounts@ashnoortex.com
Website: https://www.ashnoortex.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ashnoortextile.rights2023@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
The Ashnoor Textile Mills Rights Issue 2024 opens on May 7, 2024, and closes on May 16, 2024.
Ashnoor Textile Mills Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | |
| Last Date for renunciation of Rights Entitlements | May 13, 2024 |
| Issue Opening Date | May 7, 2024 |
| Issue Closing Date | May 16, 2024 |
| Date of Allotment (on or about) | May 24, 2024 |
| Date of Credit (on or about) | May 30, 2024 |
| Date of Listing (on or about) | June 3, 2024 |
Ashnoor Textile Mills Rights Issue 2024 price is set at ₹20 per share per equity share.
The eligible shareholders are being offered 1 Rights Equity Share(s) for every 4 fully paid-up Equity Shares held on Record Date (April 26, 2024).
The record date for the Ashnoor Textile Mills Rights Issue 2024 is April 26, 2024.
The issue size of Ashnoor Textile Mills Rights Issue 2024 is of 3,186,462 equity shares at ₹20 per share aggregating upto ₹6.37 Crores.
The Letter of Offer for Ashnoor Textile Mills Rights Issue 2024 can be download here.
You can apply for Ashnoor Textile Mills Rights Issue 2024 in two ways:
Steps to apply for Ashnoor Textile Mills Rights Issue 2024 using Net Banking (ASBA)
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 Ashnoor Textile Mills Rights Issue 2024 using Registrar's website (R-WAP)
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