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- Funds raised through the issue will be used to repay/prepay borrowings, meeting working capital requirements for the company’s business activities and general corporate purposes

- The rights entitlement ratio for the proposed rights issue is 19:29; 19 rights equity shares of Rs. 10 each for every 29 equity shares of Rs.10 each held by the equity shareholders

- Promoter Group shareholders, have confirmed their participation of up to Rs. 58.68 crores

- Company fixes September 9, 2021 as record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the rights issue

- Post Rights issue total outstanding shares to increase to 5.67 crores from 3.42 crores share

Ahmedabad, September 06, 2021: Asian Granito India Limited (AGIL), manufacturer of one of India’s leading tiles brand is scheduled to open its Rights Issue on September 23, 2021. The funds raised through the Issue will be used to repay/prepay certain outstanding borrowings, meeting working capital requirements for the company’s business activities and for general corporate purposes. Right issue are offered at a price of Rs. 100 per Share - 40% discount to current share price of Rs. 166 per share on September 3. Rights Issue closes on October 7, 2021.

The Company will issue 2,24,64,188 fully paid-up Equity Shares of face value of Rs. 10 each for cash at a price of Rs. 100 per Equity Share (including a premium of Rs. 90 per Equity Share) aggregating to Rs. 224.65 crore on a rights basis to eligible equity shareholders in the ratio of 19:29 (19 Equity Shares for every 29 Equity shares fully paid-up Equity Share held by the Eligible Equity Shareholders of the Company, as on the record date).

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www.sebi.gov.in, www.bseindia.com, www.nseindia.com and www.linkintime.co.in respectively, as well as on the websites of the lead managers to the Issue, Holani Consultants Private Limited and BOI Merchant Bankers Limited at www.holaniconsultants.co.in and www.boimb.com. Potential investors should note that investment in equity shares involves a high degree of risk. For details of such risks, potential investors should refer to the "Risk Factors" section of the LOF, prior to making any investment decision with respect to the Issue .”

The Rights Entitlements and the Rights Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or any U.S. state securities laws and may not be offered, sold, resold or otherwise transferred within the United States or the territories or possessions thereof, except in a transaction exempt from the registration requirements of the Securities Act. The Rights Entitlements and Rights Equity Shares are being offered in offshore transactions outside the United States in compliance with Regulation S under the Securities Act and in the United States to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from the registration requirements under Section 4(a)(2) of the Securities Act).