The Savani Financials date has been confirmed from May 2, 2024 – May 10, 2024. Read the post to learn about Savani Financials Right Issue.
The Savani Financials IPO is a fixed issue size of ₹49.50 Crores. It is founded in December 1983, is a non-banking financial services company that offers financial services.
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Key Details Of Savani Financials:
Bidding Dates
May 2-10
Issue Size
₹49.50 Crores
Face Value
₹10 per share
Record Date
April 4, 2024
Savani Financials Record Date
Savani Financials Record Date is April 4, 2024.
Company Overview
Savani Financials Limited, founded in December 1983, is a non-banking financial services company that offers financial services.
Savani Financials Rights Issue Detail
| Issue Open | May 2, 2024 – May 10, 2024 |
| Security Name | Savani Financials Ltd. |
| Issue Size (Shares) | 28,285,714 |
| Issue Size (Amount) | ₹49.50 Crores |
| Issue Price | ₹17.5 per share |
| Face Value | ₹10 per share |
| Listing At | BSE |
| Terms of Payment | Issue Price of Rs.17.50 is to be paid as Rs.14/- per share on Application and Rs.3.50 per share on One or more subsequent Calls |
| Entitlement | 7 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2.13 | 2.19 | 2.18 |
| Revenue | 0.11 | 0.11 | 0.13 |
| Profit After Tax | -0.07 | 0.02 | 0.05 |
| Amount in ₹ Crore | |||
Savani Financials IPO Timeline
| Last Date to buy shares | April 3, 2024 |
| Record Date | April 4, 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | May 2, 2024 |
| Renunciation of Rights Entitlements | May 7, 2024 |
| Bid/Offer Closes On | May 10, 2024 |
| Deemed Date of Allotment | |
| Credit Date | |
| Listing Date |
Company Profile
Objects of the Issue:
The Net Proceeds from the Issue are proposed to be utilised by our Company for the following objects
- To augment the capital base;
- Repay the Unsecured loan along with interest of Rs. 1.98 lakhs to the Director post the completion of the Rights issue, a sum estimated at as of Rs. 91.98 Lakhs.
- General Corporate Purposes
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91-22-6263 8200 |
| Email ID | [email protected] |
| Website | ipo.bigshareonline.com |
Contact Details
| Name | Savani Financials Ltd. |
| Phone number | 022-69454100 |
| Email ID | [email protected] |
| Website | savanifinancials.co.in |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
Savani Financials IPO FAQs
What is the issue price for Savani Financials Limited Rights Issue 2024?
Savani Financials Limited Rights Issue 2024 price is set at ₹17.5 per share per equity share.
In what ratio is the Savani Financials Limited Rights Issue 2024 offered?
The eligible shareholders are being offered 7 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date (April 4, 2024).
What is the record date for Savani Financials Limited Rights Issue 2024?
The record date for the Savani Financials Limited Rights Issue 2024 is April 4, 2024.
What is the issue size of Savani Financials Limited Rights Issue 2024?
The issue size of Savani Financials Limited Rights Issue 2024 is of 28,285,714 equity shares at ₹17.5 per share aggregating upto ₹49.50 Crores.
