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Let’s have a detailed review of the company and analytics of the Aruna Hotels Rights Issue offer open date, Term of payment, Aruna Hotels Limited Rights Issue Entitlement, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face ValueRs 10
Issue PriceRs 10
Listing AtBSE
Min. Lot Size[●] Eq Shares
Record DateJuly 23, 2021
Issue Size (Rs.)Rs 2,490 Lakhs
Shares for Issue2,49,00,000 Eq Shares
Rights entitlementUpto 83 (eighty three) Equity Share(s) for every 30 (thirty) fully paid-up Equity Share(s) held on the Record Date

Aruna Hotels Rights Issue is listed at BSE. Check out the live share price by clicking on the below link.


Aruna Hotels Rights Issue – Summary

Aruna Hotels Rights IssueTheir company was incorporated on September 09, 1960, as a public limited company under the Companies Act, 1956 with the Registrar of Companies, Madras. The name of their Company was changed to ‘Aruna Sugars & Enterprises Limited’ and a fresh certificate of incorporation dated July 3, 1986, was issued to their Company by the Registrar of Companies, Madras, Tamil Nadu.

The name of their Company was changed to ‘Aruna Sunrise Hotels Limited’ and a fresh certificate of incorporation dated October 25, 2000, was issued to their Company by the Registrar of Companies, Chennai, Tamil Nadu, the name of their Company was changed to ‘Aruna Hotels Limited’ and a fresh certificate of incorporation dated January 14, 2003, was issued to their Company by the Asst. Registrar of Companies, Chennai, Tamil Nadu.

The Promoter of this company is S. BALASUBRAMANIAN ADITYAN. The lead manager to the issue is SAFFRON CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar to this issue is Cameo Corporate Services Limited.


Aruna Hotels Rights Issue Date

The opening and the closing date of the IPO of this rights issue are September 24, 2021, and October 13, 2021, respectively.


Aruna Hotels Rights Issue Allotment Status

Here, you can find the Allotment Status of this Right Issue.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

Aruna Hotels Rights Issue Dates

Find the dates below on basis of allotment, record, listing, and more:

Issue Opening Date
September 29, 2021
Last date for on-market renunciation of rights / Date of closure of trading of Rights EntitlementsSeptember 24, 2021
Issue Closing DateOctober 13, 2021
Finalizing the basis of allotment with the Designated Stock ExchangeOctober 20, 2021
Record dateJuly 23, 2021
Date of Allotment, October 21, 2021
Credit of Shares to Demat AccountOctober 22, 2021
Share Listing DateOctober 26, 2021

Aruna Hotels Rights Issue Price

The face value of each share is Rs.10, but the Cash Price is Rs.10 per Eq share. 


Aruna Hotels – Rights Issue Size

This Initial Public Issue of 2,49,00,000 Equity Shares of Rs.10 each for cash at a price of Rs.10 per equity share aggregating to Rs 2,490 Lakhs.


Aruna Hotels – Rights Issue Live Performance

The listing date of this IPO is October 26, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Aruna Hotels Share Price

Aruna Hotels – Company Overview

Their Company had initially set up a sugar plant at Pennadam, South Arcot District, Tamil Nadu with a crushing capacity of 1,250 TCD. Through a series of modernization and expansion programs, the capacity was expanded to 5000 TCD in and around 1993.

In 1986, the Company diversified its activities by taking over the assets then owned by SAS Chemicals (Madras) Pvt. Ltd., a sick unit at Ranipet, North Arcot District, Tamil Nadu auctioned by TIICL, which had facilities for the manufacture of 30 TPD ferric alum.

In 1987, the Company further diversified its activities by taking over the assets of ‘Geetha Flour Mills Ltd.’, at Tiruvalla, Kerala with a milling capacity of 100 TPD of wheat. Around 1994-95 the Company discontinued its flour mill division.

Their Company presently owns a hotel by the name of ‘Aruna Hotel’– Chennai situated at 144, 145, Sterling Road, Nungambakkam, Chennai – 600034, Tamil Nadu, India.


Aruna Hotels Rights Issue – Financial Statements

A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-2131-Mar-20Mar-19
Total Assets6662.235386.043819.18
*Total Revenue32.7710.4882.60
Total Expense907.07656.89912.18
Profit After Tax(1007.96)(788.57)(979.31)

Earnings per Equity Share (in Lakhs)

31-Mar-2131-Mar-20Mar-19
Basic(11.20)(8.76)(10.88)
Diluted(11.20)(8.76)(10.88)

 

Financial Performance:

Their Hotel is not operational since FY 2014-15 as it was under renovation process. As of the date of this Letter of Offer, they have completed the renovation of the main structure of their Hotel, however, they are yet to complete the construction of a multi-level car parking area and setting up of a transformer in the premises of their Hotel. Therefore, Net Revenue from operations which is also through lease rental income for Fiscal 2019, Fiscal 2020, and Fiscal 2021 is Nil, Nil, and Rs. 30.84 Lacs.

Their expenses consist primarily of, employee benefit expenses, finance costs, depreciation and amortization expenses, tax expenditure, and other expenses.


Aruna Hotels Rights Issue – Promoters

The Promoters of this company are:

  1. S. BALASUBRAMANIAN ADITYAN

List of Related Parties (Key Managerial Personnel)

  • Muralidharan Ramasamy, Chairman and Non-Executive Director
  • David Susainadar Managing Director
  • Rajakumar Kumaravelayatha Nadar, Non-Executive Director
  • Suyambu Narayanan, Independent Director
  • Freeda Gnanaselvam Kanagiah, Independent Director

Aruna Hotel – Rights Issue Details

 ParticularsDetails of Equity Shares
Equity Shares proposed to be issuedUp to 2,49,00,000 Equity Shares
Rights EntitlementUpto 83 (eighty three) Equity Share(s) for every 30 (thirty) fully paid-up Equity
Share(s) held on the Record Date
Record DateJuly 23, 2021
Issue Price per Rights Equity SharesRs.10/-
Issue SizeRs 2,490 Lakhs
Equity Shares issued, subscribed, and paid-up prior to the Issue90,00,000 Equity Shares
Equity Shares subscribed and paid up after the IssueUp to 90,00,000 Equity Shares

Aruna Hotels – Rights Issue Object

Their Company proposes to utilize the Net Proceeds towards funding the following objects:

1. Part repayment or prepayment of unsecured loans availed by their Company from the Promoter Group; and
2. General corporate purposes.

Aruna Hotels Business Strategy

  • Continue to focus on enhancing their operational performance and the competitiveness of their hotel property
  • Continue to improve operating efficiencies
  • Brand expansion through management contracts
  • Subsisting collaborations, any performance guarantee or assistance in marketing by the collaborators, infrastructure facilities for raw materials and utilities like water, electricity, etc.

Aruna Hotels Issue Lead Managers

Lead Managers
SAFFRON CAPITAL ADVISORS PRIVATE LIMITED
605, Center Point, 6th floor,
Andheri Kurla Road, J. B. Nagar,
Andheri (East), Mumbai – 400 059,
Maharashtra, India.
Telephone: +91 22 4082 0914/0915
Facsimile: +91 22 4082 0999
E-mail: rights.issue@saffronadvisor.com
Website: www.saffronadvisor.com
Investor grievance: investorgrievance@saffronadvisor.com
Contact Person: Amit Wagle / Gaurav Khandelwal
SEBI Registration Number: INM 000011211
Validity of Registration: Permanent

Aruna Hotels – Rights Issue Registrar to offer

Registrar to the Offer
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building,
No. 01, Club House Road,
Chennai- 600 002,
Tamil Nadu, India.
Telephone: +91044 4002 0700/ 0710/ 2846 0390
Facsimile: N.A.
Email: cameo@cameoindia.com / priya@cameoindia.com
Website: www.cameoindia.com
Investor grievance e-mail: investor@cameoindia.com
Contact Person: Sreepriya K.
SEBI Registration No.: INR000003753
Validity of Registration: Permanent

Aruna Hotels – Other Issue Details

  • Statutory Auditor – M/s. Bala & Co., Chartered Accountants
  • Legal Counsel to the Company – M V Kini, Law Firm
  • Bankers to the Company –HDFC Bank Limited


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    Aruna Hotels Limited Rights Issue News

    News 1 – Aruna Hotels Rights Issue Draft Download

    News 2 –  Aruna Hotels Rights Issue Letter of Offer


    Aruna Hotels Rights Issue Review FAQs

    Where to download the Aruna Hotel letter of offer?

    This page is the perfect hub for shareholders, which wish to pursue the option of buying additional Aruna Hotels Company shares. You will find a news section towards the end of the page, and the link which would redirect you to the letter of offer.

    Where to download the Application Form for Aruna Rights Issue?

    Application forms of Aruna Hotels Rights Issue can be obtained via multiple destinations. You can seek out the exchange or company or the registrar’s official websites. Furthermore, you may download the form, fill it up, and then choose either online or offline mode to submit it.

    How to check the Aruna Hotels Rights Issue allotment date?

    They are highly oriented to provide you with end-to-end details of the Aruna Hotels Rights Issue. Hence, they urge you to check out the page precisely for the allotment date. They will find a sub-section on the page, namely Rights Issue Dates, which features all necessary dates.

    What is the Aruna Hotel Rights Issue price per share?

    Rights issue is generally an offer made to shareholders at a price lower than the market price. Hence, as per the offer made in the Letter of Offer, the company proposes to sell shares at Rs.10 per Equity Share through Aruna Hotels Rights Issue.

    Who is the registrar to Aruna Hotel Rights Issue?

    Registrar, as chosen by Aruna Hotels is Cameo Corporate Services Limited. You can refer to this article which furthermore contains all the details of the registrar. Scroll towards the end of the page to find the registrar’s address, contact person, and email id information.

    When the Aruna Hotels Rights Issue is opening?

    They collected all the scattered data from the Letter of Offer for their readers, to make it easy for them to easily locate the required details. As per the offer stated, the Aruna Hotels Rights Issue is all set to open on September 29, 2021.

    When the Aruna Hotel Rights Issue is closing?

    While, the offer would open on September 29, 2021, it is most likely scheduled to close on October 13, 2021. This would be the last day you can bid for the shares, being an eligible shareholder. Check the article for more insights on the Aruna Hotels Rights Issue.

    What is the Aruna Hotel Rights Issue size?

    Aruna Hotels Rights Issue is a proposal to raise 2,49,00,000 Equity shares, aggregating to Rs 2,490 Lakhs, from the existing shareholders. You can furthermore refer to the topmost table of this article to check out other crucial statistics such as Minimum Lot size, record date, RE, Face value, and more.

    Who is the Aruna Hotel Rights Issue Lead manager?

    A designated underwriter or lead manager of Aruna Hotels Rights Issue is SAFFRON CAPITAL ADVISORS PRIVATE LIMITED. They also provide you with the information you need about the lead manager, such as an address, contact person, email address, and more. Such data is structured towards the end of the article.

    What are the important dates of the Aruna Hotel Rights Issue?

    There are a bunch of important dates regarding the Aruna Hotels Rights Issue, which you need to know about. The priority should be the Record Date of July 23, 2021 ., which deems you eligible for investment. The rest of the dates include opening, closing, allotment, listing, and more, which are all provided in the section Rights Issue Dates.


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