Gyscoal Alloys is a scrap metal manufacturer of Stainless Steel and Mild Steel Long Products. The company started its business activities by trading iron and steel scraps and billets. In 2005, the company acquired a steel rolling factory from Shah Alloys Group in Ubkhal and started manufacturing rolled goods.
Considering the potential higher value addition of stainless steel products, the company opted to produce Stainless Steel Long Products. The production plant in Kukarwada has a capacity of 18,000 MT annually. The facility has been provided with an induction furnace, rolling mills, a reheating furnace, a controller, a universal testing machine, and a diesel generator set. The plant has the capacity to produce all grades of Stainless Steel products, ranging from the 200 series to the 400 series.
The business has approved financing INR 150 crores through a rights issue to existing shareholders, and merchant bankers have been hired for this reason. The company’s primary goal is to achieve a suitable mix of stainless steel and mild steel products as well as to develop a new line of specialised items that are not readily available in the market.
Objects of the Issue:
The company proposes to utilize the Net Proceeds towards the following objects:
- Payment towards full and final settlement of outstanding loan amount of Omkara Assets Reconstruction Private Limited (“Omkara”);
- Part repayment or pre-payment of unsecured loans availed by our Company from Sampati Securities Limited, one of the Promoter Group Company; and
- General corporate purpose
Gyscoal Alloys Rights Issue 2022 Detail
| Issue Open | Jan 2, 2023 – Jan 12, 2023 |
| Security Name | Gyscoal Alloys Limited |
| Issue Size (Shares) | 178,851,382 |
| Issue Size (Amount) | ₹49.18 Crores |
| Issue Price | ₹2.75 per share |
| Face Value | ₹1 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The full amount is payable on application. |
| Entitlement | 110 Equity Shares for Every 100 Equity Shares held |
Gyscoal Alloys Rights Issue 2022 Issue Timetable
| Record Date | Dec 23, 2022 |
| Credit of Rights Entitlements | Dec 30, 2022 |
| Bid/Offer Opens On | Jan 2, 2023 |
| Renunciation of Rights Entitlements | Jan 9, 2023 |
| Bid/Offer Closes On | Jan 12, 2023 |
| Deemed Date of Allotment | Jan 19, 2023 |
| Credit Date | Jan 25, 2023 |
| Listing Date | Jan 27, 2023 |
Gyscoal Alloys Limited Financial Information (Consolidated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-22 | 87.03 | 22.92 | -5.63 | -31.46 | 79.09 |
Company Contact Information
Gyscoal Alloys Limited
Plot No. 2/3 GIDC Ubkhal, Kukarwada,
Tal. Vijapur, Dist. Mehsana Kukarwada – 382830,
Mahesana, Gujarat- 382830 India
Phone: +079 66614508
Email: [email protected]
Website: http://www.gyscoal.com
Gyscoal Alloys Rights Issue 2022 Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: [email protected]
Website: http://www.purvashare.com
Gyscoal Alloys Rights Offer FAQs
Q1 .What is price of Gyscoal Alloys Rights Issue?
Ans. The issue price is INR 2.75 per share.
Q2. What is entitlement ratio of Gyscoal Alloys Rights Issue?
Ans. The eligible shareholders are offered 110 Equity Shares for Every 100 Equity Shares held by the eligible shareholder as on the Record date.
Q3. What is the Record Date of Gyscoal Alloys Rights Issue?
Ans. The Record date is 23 December 2022.
Q4. How to Apply in Gyscoal Alloys Rights Offer?
Ans. The best way to apply in Gyscoal Alloys Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
Steps to apply for Gyscoal Alloys Rights Issue 2022 using Net Banking (ASBA)
- Log in to the net banking account of your bank.
- Go to the ‘IPO & Rights Issue’ section.
- Check if the Gyscoal Alloys Rights Issue 2022 available on the list.
- Click the Apply button next to the Gyscoal Alloys Rights Issue 2022.
- Fill and check your information.
- Submit the application.
Steps to apply for Gyscoal Alloys Rights Issue 2022 using Registrar’s website (R-WAP)
- Visit registrar’s website
- Go to the ‘Rights Issue’ section
- Select Gyscoal Alloys Rights Issue 2022 from the dropdown.
- Enter Demat Account Number.
- Fill the online application form.
- Validate and submit the application.
