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Mitcon Consultancy & Engineering Services Limited Rights Issue (Mitcon Rights Issue 2024) Detail

June 28, 2024 - July 26, 2024
Mitcon Consultancy & Engineering Services Limited Logo

Established in 1982, MITCON Consultancy and Engineering Services Limited is a technical consulting organization (TCO) providing solutions from conception to commissioning.

The company provides feasibility studies, detailed project reports, techno-economic feasibility reports, financial syndication, engineering services to lenders, EIA, basic and detailed engineering, tender process management, project management, cluster development, technical/financial restructuring, energy audits, corporate debt restructuring, due diligence, qualitative and market research, asset/company valuation and consultancy services for wind power projects.

The company provides consulting services to companies in the areas of energy transition, renewable energy, biofuels, green chemistry, skills development, environmental management and engineering, and business consulting.

MITCON has completed more than 18,000 consulting assignments in more than 50 countries in Asia, the Middle East and Africa and trained more than 25 Lakh individuals under various government and non-government skill development and entrepreneurship programs, with a record 75% placement rate.

The company is headquartered in Pune and has regional offices across the country in Mumbai, Delhi, Ahmedabad, Bengaluru, Nanded, Raipur and Nagpur.

As of April 15, 2024, the company had over 216 employees.

Mitcon Rights Issue 2024 Detail

Issue Open June 28, 2024 - July 26, 2024
Security Name Mitcon Consultancy & Engineering Services Limited
Issue Size (Shares) 4,241,321
Issue Size (Amount) ₹32.23 Crores
Issue Price ₹76 per share
Face Value ₹10 per share
Listing At NSE
Terms of Payment

Rs. 19 on application. Rs. 57 in one or more subsequent Call(s) as determined by the Board at its sole discretion, from time to time.

Entitlement 6 Rights Equity Share(s) for every 19 fully paid-up Equity Shares held on Record Date

Mitcon Rights Issue 2024 Issue Timetable

Last Date to buy sharesJune 19, 2024
Record Date June 20, 2024
Credit of Rights Entitlements June 27, 2024
Bid/Offer Opens On June 28, 2024
Renunciation of Rights Entitlements June 22, 2024
Bid/Offer Closes On July 26, 2024
Deemed Date of Allotment August 3, 2024
Credit Date August 8, 2024
Listing Date August 12, 2024

Company Financials

Mitcon Consultancy & Engineering Services Limited Financial Information (Restated Consolidated)

Mitcon Consultancy & Engineering Services Limited's revenue increased by 55.28% and profit after tax (PAT) rose by 48.39% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended31 Mar 202431 Mar 202331 Mar 2022
Assets311.93247.70216.86
Revenue133.1685.75107.76
Profit After Tax5.633.801.50
Amount in ₹ Crore

Objects of the Issue:

The Net Proceeds of the Issue are proposed to be utilized by the company for the objects set out below:

  1. Investment in its Wholly Owned Subsidiary Company viz. MITCON Sun Power Limited for Solar Park;
  2. To finance the upgradation of the Environment Laboratory;
  3. Investment in its Joint Venture Company viz. MITCON Nature Based Solutions Limited;
  4. To invest in Front End Engineering Design Development;
  5. To finance the acquisition of instruments for training;
  6. To carry out the capital expenditure for refurbishment of office space;
  7. Part-funding the incremental working capital requirements; and
  8. General corporate purposes.

Mitcon Rights Issue 2024 Subscription Status

Mitcon Rights Issue 2024 is subscribed 0.08 times as on June 28, 2024 5:00:34 PM. The total bid quantity received by NSE is 319,022 shares.

Mitcon Rights Issue 2024 Documents

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Company Contact Information

Mitcon Consultancy & Engineering Services Limited
1st floor,
Kubera Chambers,
Shivajinagar, Pune - 411 005

Phone: +912066289100
Email: bd@mitconindia.com
Website: https://www.mitconindia.com/

Mitcon Rights Issue 2024 Registrar

  1. Link Intime India Private Ltd
    Phone: +91-22-4918 6270
    Email: mitcon.rights2024@linkintime.co.in
    Website: https://linkintime.co.in/initial_offer/public-issues.html

Mitcon Rights Issue 2024 Lead Manager(s)

Mitcon Rights Issue 2024 FAQs

The Mitcon Rights Issue 2024 opens on June 28, 2024, and closes on July 26, 2024.

Mitcon Rights Issue 2024 Schedule

Last Date for credit of Rights EntitlementsJune 27, 2024
Last Date for renunciation of Rights EntitlementsJune 22, 2024
Issue Opening DateJune 28, 2024
Issue Closing DateJuly 26, 2024
Date of Allotment (on or about)August 3, 2024
Date of Credit (on or about)August 8, 2024
Date of Listing (on or about)August 12, 2024

Mitcon Rights Issue 2024 price is set at ₹76 per share per equity share.

The eligible shareholders are being offered 6 Rights Equity Share(s) for every 19 fully paid-up Equity Shares held on Record Date (June 20, 2024).

The record date for the Mitcon Rights Issue 2024 is June 20, 2024.

The issue size of Mitcon Rights Issue 2024 is of 4,241,321 equity shares at ₹76 per share aggregating upto ₹32.23 Crores.

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

You can apply for Mitcon Rights Issue 2024 in two ways:

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

Steps to apply for Mitcon 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 Mitcon Rights Issue 2024 available on the list.
  4. Click the Apply button next to the Mitcon 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 Mitcon Rights Issue 2024 using Registrar's website (R-WAP)

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

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