Vikas Ecotech Rights Issue will open for subscription from 15 June 2021. the company aims for an issue size of ₹49.12 Crores through this rights Issue.
Vikas Ecotech Limited
VEL is an ISO-certified company engaged in the manufacture of Specialty Chemicals Additives and Specialty rubber-plastic and polymer Compound with manufacturing facilities located at Shahjahanpur (Rajasthan) and Noida SEZ (Uttar Pradesh).
The company products cater to various industries such as agriculture and infrastructure, packaging, organic and inorganic chemicals, electrical, FMCG, footwear, pharmaceuticals, automotive, medical devices and components, and other consumer goods in the domestic and global markets. The company is recognized with a two-star house by the office of the Additional Director General of Foreign Trade.
Objects of the Issue
- Adjustment of Unsecured Loans against the Entitlement of the Promoters.
- General Corporate Purposes.
- Meeting Working Capital Requirements.
- Partial repayment of Loans availed by the Company.
Vikas Ecotech Rights Issue Issue Timetable
| Bid/Offer Opens On | 15 June 2021 |
| Bid/Offer Closes On | 29 June 2021 |
| Record Date | 10 June 2021 |
| Deemed Date of Allotment | 05 July 2021 |
| Renunciation of Rights Entitlements | 23 July 2021 |
Vikas Ecotech Rights Issue Detail
| Security Name | Vikas Ecotech Limited |
| Issue Size (Shares) | 36.39 Crores |
| Issue Size (Amount) | ₹49.12 Crores |
| Issue Price | ₹1.35 per share |
| Face Value | ₹1 per share |
| Market Lot | 1 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The full amount of Rs.1.35 per Rights Equity Share is payable on Application. |
| Entitlement | 13 Equity Share for every 10 Fully paid up Equity Shares held on the Record Date |
Company Financials
| Particulars | For the year/period ended (Rs. in Millions) | |
|---|---|---|
| 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 3,451.26 | 3,912.43 |
| Total Revenue | 1,991.96 | 2,592.44 |
| Profit After Tax | 10.18 | 150.05 |
Vikas Ecotech Rights Issue Registrar
Alankit Assignments Ltd
Alankit House 2E/21,
Jhandewalan Extension,
New Delhi – 110055
Phone: (011) 4254 1234
Email: velrights@alankit.com
Company Contact Information
Vikas Ecotech Limited
34/1 Vikas Apartments,
East Punjabi Bagh,
Delhi – 110026
Phone: +91-11-43144444
Email: cs@vikasecotech.com
Website: http://vikasecotech.com/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing