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Banas Finance Ltd. was founded in 1983 and is a non-banking finance company.
The company is engaged in the purchase, leasing, factoring, installment financing and leasing of all types of machinery and equipment, motor vehicles, motorboats, trawlers, launches, ships, vessels, helicopters, aircraft, motor vehicles, computers and other equipment.
| Issue Open | May 13, 2024 - May 30, 2024 |
| Security Name | Banas Finance Ltd. |
| Issue Size (Shares) | 48,046,232 |
| Issue Size (Amount) | ₹48.05 Crores |
| Issue Price | ₹10 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | The Issue Price of Rs. 10/- per Rights Equity Share shall be payable at the time of application. |
| Entitlement | 1 Rights Equity Share(s) for every 1 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 | May 6, 2024 |
| Bid/Offer Opens On | May 13, 2024 |
| Renunciation of Rights Entitlements | May 17, 2024 |
| Bid/Offer Closes On | May 30, 2024 |
| Deemed Date of Allotment | June 11, 2024 |
| Credit Date | June 13, 2024 |
| Listing Date | June 14, 2024 |
Banas Finance Ltd.'s revenue decreased by -79.29% and profit after tax (PAT) dropped by -178.95% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 159.35 | 188.08 | |
| Revenue | 20.88 | 100.82 | 14.47 |
| Profit After Tax | -54.76 | 69.37 | 11.22 |
| Amount in ₹ Crore | |||
The company proposes to utilize the Net Proceeds to:
1. Towards working capital requirements including:
2. General corporate purpose; and
3. To meet Issue related expenses.
Banas Finance Rights Issue 2024 got subscribed by 0.87 times by the end of the bidding period with total bid quantity received by BSE of 41,938,238 shares.
11 3.8 Rating:  Vote Here ... |
Banas Finance Ltd.
E-109, Crystal Plaza,
New Link Road,
Opp. Infinity Mall, Andheri (W) - 400 053
Phone: +9152096140/41
Email: banasfin@gmail.com
Website: http://www.banasfinance.wordpress.com/
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
The Banas Finance Rights Issue 2024 opens on May 13, 2024, and closes on May 30, 2024.
Banas Finance Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | May 6, 2024 |
| Last Date for renunciation of Rights Entitlements | May 17, 2024 |
| Issue Opening Date | May 13, 2024 |
| Issue Closing Date | May 30, 2024 |
| Date of Allotment (on or about) | June 11, 2024 |
| Date of Credit (on or about) | June 13, 2024 |
| Date of Listing (on or about) | June 14, 2024 |
Banas Finance Rights Issue 2024 price is set at ₹10 per share per equity share.
The eligible shareholders are being offered 1 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date (April 26, 2024).
The record date for the Banas Finance Rights Issue 2024 is April 26, 2024.
The issue size of Banas Finance Rights Issue 2024 is of 48,046,232 equity shares at ₹10 per share aggregating upto ₹48.05 Crores.
The Letter of Offer for Banas Finance Rights Issue 2024 can be download here.
You can apply for Banas Finance Rights Issue 2024 in two ways:
Steps to apply for Banas Finance 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 Banas Finance Rights Issue 2024 using Registrar's website (R-WAP)
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