Home  »  Rights Issue  »  Asian Granito India Rights Issue

Let’s have a detailed review of the company and analytics of the Asian Granito India Rights Issue offer open date, Term of payment, Asian Granito India 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 100
Listing AtNSE, BSE
Min. Lot Size[●] Eq Shares
Record DateSeptember 09, 2021
Issue Size (Rs.)Rs 22,464.19 Lakhs
Shares for Issue2,24,64,188 Eq Shares
Rights entitlement19 Equity Share for every 29 fully paid-up Equity
Share(s) held on the Record Date

Asian Granito India Rights Issue is listed at BSE & NSE. Check out the live share price by clicking on the below link.


Asian Granito India Rights Issue – Summary

Asian Granito India Rights IssueHeadquartered in Ahmedabad, Gujarat, their Company is leading its path towards manufacturing various types of tiles, offering a wide spectrum of manufacturing, sub-contract manufacturing, marketing, and distribution-related activities under a single roof.

Their company was incorporated in the year 1995, began its commercial operations of manufacturing tiles in the year 2003 and since then Company has rapidly grown to create a whole cluster of integration within itself and its associate concerns.

Their Company is engaged in the business of manufacturing tiles, vitrified and ceramic, and cater to an extensive gamut of consumers through a vast range of products at various price points including polished, double charged, glazed, unglazed, rustic, matt, homogenous, and non-homogeneous body, etc.

The Promoter of this company is MR. KAMLESHKUMAR BHAGUBHAI PATEL, MR. MUKESHBHAI JIVABHAI PATEL, MR. RAMESHBHAI BHIKHABHAI PATEL AND MR. HASMUKHBHAI D PATEL. The lead manager to the issue is HOLANI CONSULTANTS PRIVATE LIMITED and BOI MERCHANT BANKERS LIMITED, and the Registrar to this issue is LINK INTIME INDIA PRIVATE LIMITED.


Asian Granito India Rights Issue Date

The opening and the closing date of the IPO of Asian Granito India Limited are September 23, 2021, and October 07, 2021, Respectively.


Asian Granito India 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.

Asian Granito India Rights Issue Dates

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

Issue Opening Date
September 23, 2021
Last date for on-market renunciation of rights / Date of closure of trading of Rights EntitlementsSeptember 17, 2021
Issue Closing DateOctober 07, 2021
Finalizing the basis of allotment with the Designated Stock ExchangeOctober 19, 2021
Record dateSeptember 09, 2021
Date of AllotmentOctober 20, 2021
Credit of Shares to Demat AccountOctober 21, 2021
Share Listing DateOctober 26, 2021

Asian Granito India Rights Issue Price

The face value of each share is Rs.10, but the Cash Price is Rs.100 per Eq share. 


Asian Granito India Rights Issue Size

This Initial Public Issue of 2,24,64,188 Equity Shares of Rs.10 each for cash at a price of Rs.100 per equity share aggregating to Rs 22,464.19 Lakhs.


Asian Granito India 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 – Asian Granito India Share Price

Asian Granito India Rights Issue – Company Overview

Recently in 2019, their Company has also stepped into the business of bath-ware range to increase its product portfolio and strengthen the domestic and international markets reach. The company manufactures some of the products on a contractual basis and imports some of the products.

The bath-ware range includes faucets and sanitary ware such as washbasins, urinals, one-piece and wall-hung water closets, and many more with the latest features and technology like anti-bacterial, twin flushing technology, scratch, chemical and stain resistance, etc. Over the years, they have made continuous investments in their manufacturing infrastructure to support their product portfolio requirements and reach.

Their capabilities as a company include internal R&D expertise, state-of-the-art manufacturing capabilities, a strict quality assurance system, modern production designing experience, and established marketing and distribution relationships.

Their strict compliance with the internal quality control and international standards of quality has enabled them to expand their operations internationally to countries including China, Israel, the United States of America, Germany, Spain, Italy, Korea, Thailand, Myanmar, Canada, Indonesia, Australia, Bangladesh, Vietnam, Brazil, GCC Countries, Kenya, etc. Apart from manufacturing products for their dealers and distributors, they are also selling to builders, government supplies, project customers, and overseas customers.


Asian Granito India 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-20
Total Assets1,36,706.151,25,910.24
*Total Revenue1,29,582.271,23,227.42
Total Expense1,22,063.131,17,762.34
Profit After Tax5,760.914,604.58

Earnings per Equity Share (in Lakhs)

31-Mar-2131-Mar-20
Basic18.5714.02
Diluted18.5714.02

 

Financial Performance:

The total expenditure for the financial year 2020-21 was increased to Rs. 122,063.13 lakhs from Rs. 117,762.34 lakhs in 2019-20, representing a 3.65% increase bifurcated in varied expenses.

During the year 2020-21, the other income of their company decreased to Rs. 352.33 lakhs from Rs. 773.95 lakhs in 2019-20, representing a decrease of 54.48%. This decrease was majorly due sale of shares of a subsidiary company, M/s Camrola Quatz Limited in FY 2019-20.

Taxation expenses increase by 75.27% due to a substantial increase in the profits earned by the company and due to deferred tax adjustments. Their profit after tax also increased by Rs. 1,156.32 lakhs, representing a percentage increase of 25.11%.


Asian Granito India Rights Issue – Promoters

The Promoters of this company are:

  1. MR. KAMLESHKUMAR BHAGUBHAI PATEL
  2. MR. MUKESHBHAI JIVABHAI PATEL
  3. MR. RAMESHBHAI BHIKHABHAI PATEL
  4. MR. HASMUKHBHAI D PATEL.

List of Related Parties (Key Managerial Personnel)

  • Bhagubhai Punjabhai Patel, Chairman cum Managing Director
  • Jivabhai Jethabhai Patel, Managing Director
  • Bhikhabhai Kodarbhai Patel. Executive Director
  • Vinodbhai Lalbhai Patel, Executive Director
  • Bhikhabhai Valjibhai Patel, Executive Director
  • Natwarlal Kikabhai Mistry, Independent Director

Asian Granito India Rights Issue Details

 ParticularsDetails of Equity Shares
Equity Shares proposed to be issuedUp to 2,24,64,188 Equity Shares
Rights Entitlement19 Equity Share for every 29 fully paid-up Equity
Share(s) held on the Record Date
Record DateSeptember 09, 2021
Issue Price per Rights Equity SharesRs.100/-
Issue SizeUp to Rs. 22,464.19 Lakhs
Equity Shares issued, subscribed, and paid-up prior to the Issue3,42,87,446 Equity Shares
Equity Shares subscribed and paid up after the IssueUp to 5,67,51,634 Equity Shares

Asian Granito Rights Issue Object

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

1. Part repayment / Pre-payment of certain secured loans availed from lenders;
2. To meet working capital requirements; and
3. General corporate expenses.

Asian Granito – Business Strategy

  • Leveraging of their Marketing Skills and Relationships
  • To develop export opportunities for their products
  • Strengthen their brand value
  • Enhanced focus on efficiency, cost, and return on capital
  • Investing in technological enhancements
  • Maintain and Expand Long-term Relationships with Clients

Asian Granito India Rights Issue Lead Managers

Lead Managers

HOLANI CONSULTANTS PRIVATE LIMITED

BOI MERCHANT BANKERS LIMITED

Asian Granito Rights Issue Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park LBS Marg,
Vikhroli (West), Mumbai 400083,
Maharashtra, India
Tel: +91 022 – 49186200
Fax: +91 022 – 49186060
Website: www.linkintime.co.in
Email: agl.rights@linkintime.co.in
Investor Grievance ID – agl.rights@linkintime.co.in
Contact Person: Mrs. Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Asian Granito Rights Issue – Other Details

  • Statutory Auditor – M/s. R.R.S & Associates
  • Legal Counsel to the Company – NA
  • Bankers to the Company –HDFC Bank Limited


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    Asian Granito India Limited Rights Issue News

    News 1 – Asian Granito India Rights Issue Draft Download

    News 2 –  Asian Granito India Rights Issue Letter of Offer


    Asian Granito India Rights Issue Review FAQs

    Where to download the Asian Granito Rights Issue letter of offer?

    This page is the perfect hub for shareholders, which wish to pursue the option of buying additional Asian Granito India 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 Asian Granito Rights Issue?

    Application forms of the Asian Granito India 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 the either online or offline mode to submit it.

    How to check the Asian Granito allotment date?

    They are highly oriented to provide you with end-to-end details of the Asian Granito India 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 Asian Granito Rights Issue price per share?

    The 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.100 per Equity Share through the Asian Granito India Rights Issue.

    Who is the registrar to Asian Granito India Rights Issue?

    Registrar, as chosen by Asian Granito India is LINK INTIME INDIA PRIVATE 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 Asian Granito 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 Asian Granito India Rights Issue is all set to open on September 23, 2021.

    When the Asian Granito India Rights Issue is closing?

    While, the offer would open on September 23, 2021, it is most likely scheduled to close on October 07, 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 Asian Granito India Rights Issue.

    What is the Asian Granito Rights Issue size?

    Asian Granito India Rights Issue is a proposal to raise 2,24,64,188 Equity shares, aggregating to Rs 2,24,64,188 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 Asian Granito Rights Issue Lead manager?

    A designated underwriter or lead manager of Asian Granito India Rights Issue is HOLANI CONSULTANTS PRIVATE LIMITED and BOI MERCHANT BANKERS 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 Asian Granito Rights Issue?

    There are a bunch of important dates regarding the Asian Granito India Rights Issue, which you need to know about. The priority should be the Record Date of September 09, 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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