The Banas Finance Ltd date has been confirmed from May 13, 2024 – May 30, 2024.
The Banas Finance Ltd IPO has a fixed issue size of ₹48.05 Crores. Banas Finance Ltd, established in 1983, operates as a non-banking finance company. The organization specializes in the acquisition, leasing, factoring, installment financing, and leasing of various machinery and equipment, including motor vehicles, motorboats, trawlers, launches, ships, vessels, helicopters, aircraft, motor vehicles, computers, and other equipment.
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Key Details Of Banas Finance Ltd
Bidding Dates
May 13- 30
Issue Size
₹48.05 Crores
Face Value
₹10 per share
Record Date
April 26, 2024
Banas Finance Ltd IPO GMP
The Banas Finance Ltd Record Date is April 26, 2024.
IPO Overview
The Banas Finance Ltd. IPO has a fixed issue size of ₹48.05 Crores. Banas Finance Ltd., established in 1983, operates as a non-banking finance company. The organization specializes in the acquisition, leasing, factoring, installment financing, and leasing of various machinery and equipment, including motor vehicles, motorboats, trawlers, launches, ships, vessels, helicopters, aircraft, motor vehicles, computers, and other equipment.
Banas Finance Ltd Rights Issue Detail
| 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 |
Banas Finance Ltd Issue Timetable
| 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 Financial Information
| 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 | |||
Company Profile
The company was initially established as Pioneer Leasing Company Limited on June 6, 1983. Later, on August 28, 1986, the company changed its name from “M/s Pioneer Leasing Company Limited” to “M/s Banas Finance Limited.” In 1999, the company applied to the Reserve Bank of India to convert into a non-banking finance company and received the certificate from the Reserve Bank of India on January 21, 1999. M/s Banas Finance Limited is currently a non-banking finance company. Their main objective is to engage in the business of purchasing, leasing,
factoring, and financing hire-purchase and lease agreements for various types of plants, machinery, motor vehicles, boats, ships, helicopters, aircraft, computers, and other equipment.
They also assist in financing hire purchases or deferred payment transactions of any kind. Additionally, they operate as investors and dealers in shares, stocks, and securities and undertake various financial, commercial, and trading operations. However, they do not engage in banking or insurance activities regulated by the Banking Regulation Act, of 1949, and the Insurance Act, of 1938. They also offer short- and long-term loans, along with financial software provision.
Contact Details
| Name | Banas Finance Ltd. |
| Phone number | +9152096140/41 |
| Email ID | [email protected] |
| Website | banasfinance.com |
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.
Banas Finance Ltd IPO FAQs
What is the schedule for Banas Finance Rights Issue 2024?
We regret to inform you that the timelines for the Banas Finance Rights Issue 2024 are currently unavailable.
What is the issue price for Banas Finance Rights Issue 2024?
The price for Banas Finance Rights Issue 2024 has been established at ₹10 for each equity share.
