Sparc Electrex Limited, established in 1989, manufactures, imports, exports, trades, and deals in various kinds of Garden Tools, Power Tools, Cordless Tools, Hand Tools, Machinery, Spares & Accessories. It also deals in Prime Steel Products, Hot Rolled (HR) / Cold Rolled Coils, Sheets & Pipes, Mild & Stainless Steel, and all types of Metals.
Sparc Electrex Limited is led by a strong management team that is highly proficient in its field. The firm has extensive experience in this field.
In the past, the company sold Video Security Systems and Electronic Document Storage Systems. Following the takeover in October, the same was halted. Sparc has since expanded its activities into additional markets. One of the key strengths of the company is its wide range of products to offer to the customers.
There are inbuilt quality assurance systems to ensure highest quality products are served to the end users. The products range of the company is spread across:
- POWER TOOLS – Portable Electric Power Tools, Garden Tools, Pneumatic Tools, Cordless Tools, Wood Working Tools
- METALS AND STEEL PRODUCTS – Prime Steel Products, Hot Rolled (HR) / Cold Rolled Coils, Sheets & Pipes, Mild & Stainless Steel
Objects of the Issue:
The Company proposes to utilize the Net Proceeds to:
- To meet Working Capital Requirements;
- To adjust an unsecured loan given by one of Electrex International Private Limited, one of the Corporate Promoters;
- To meet issue-related expenses;
- General Corporate Purposes.
Sparc Electrex Rights Issue 2023 Detail
|Issue Open||Mar 14, 2023 – Apr 12, 2023|
|Security Name||Sparc Electrex Limited|
|Issue Size (Shares)||14,667,000|
|Issue Size (Amount)||₹27.87 Crores|
|Issue Price||₹19 per share|
|Face Value||₹10 per share|
|Terms of Payment||Rs. 4.75 is payable on application and the remaining sum of Rs. 14.25 is payable on subsequent call(s) as determined by the company.|
|Entitlement||3 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date|
Sparc Electrex Rights Issue 2023 Issue Timetable
|Last Date to buy shares||Feb 27, 2023|
|Record Date||Feb 28, 2023|
|Credit of Rights Entitlements||Mar 9, 2023|
|Bid/Offer Opens On||Mar 14, 2023|
|Renunciation of Rights Entitlements||Apr 6, 2023|
|Bid/Offer Closes On||Apr 12, 2023|
|Deemed Date of Allotment||Apr 21, 2023|
|Credit Date||Apr 27, 2023|
|Listing Date||May 3, 2023|
Sparc Electrex Limited Financial Information (Restated)
|Period Ended||Total Revenue||Profit After Tax|
Sparc Electrex Rights Issue 2023 FAQs
Q1. When is Sparc Electrex Rights Issue 2023 coming?
Ans. The Sparc Electrex Rights Issue 2023 opens on Mar 14, 2023, and closes on Apr 12, 2023.
Q2. What is the schedule for Sparc Electrex Rights Issue 2023?
Ans. Sparc Electrex Rights Issue 2023 Schedule : Last Date for credit of Rights Entitlements Mar 9, 2023 Last Date for renunciation of Rights Entitlements Apr 6, 2023 Issue Opening Date Mar 14, 2023 Issue Closing Date Apr 12, 2023 Date of Allotment (on or about) Apr 21, 2023 Date of Credit (on or about) Apr 27, 2023 Date of Listing (on or about) May 3, 2023
Q3. What is the issue price for Sparc Electrex Rights Issue 2023?
Ans. Sparc Electrex Rights Issue 2023 price is set at ₹19 per share per equity share.
Q4. In what ratio is the Sparc Electrex Rights Issue 2023 offered?
Ans. The eligible shareholders are being offered 3 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date (Feb 28, 2023).
Q5. What is the record date for Sparc Electrex Rights Issue 2023?
Ans. The record date for the Sparc Electrex Rights Issue 2023 is Feb 28, 2023.
Q6. What is the issue size of Sparc Electrex Rights Issue 2023?
Ans. The issue size of Sparc Electrex Rights Issue 2023 is of 14,667,000 equity shares at ₹19 per share aggregating upto ₹27.87 Crores.
Q7. Where can I get the Letter of Offer for Sparc Electrex Rights Issue 2023?
Ans. The Letter of Offer for Sparc Electrex Rights Issue 2023