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

Face ValueRs 5
Issue PriceRs [●] /-
Listing AtBSE, NSE
Min. Lot Size[●] Eq Shares
Record Date[●]
Issue Size (Rs.)Rs 10,000 Lakhs
Shares for IssueX Eq Shares
Rights entitlementOne Lot for every five Lots held on the Record Date

Bannari Amman Spinning Mills Rights Issue is listed at BSE & NSE. Check out the live share price by clicking on the below link.

Bannari Amman Spinning Mills Share Price – Live Performance

Bannari Amman Rights Issue – Summary

Bannari Amman Spinning Mills Rights IssueOur Company is one of the flagship companies of Bannari Amman Group located in South India which offers a wide spectrum of manufacturing, trading, distribution, and service-related activities in sectors like textiles, food processing, automobile distribution, etc.

Our Company was incorporated in the year 1989 and has emerged as a fully vertically integrated textile company engaged in the business of manufacturing, spinning, weaving, and processing of cotton yarn. Company is also engaged in the business of manufacturing woven and knitted fabrics, garments, and wind power generation.

The Promoter of this company is SANGAMPALAYAM VEDANAYAGAM ARUMUGAM, MURUGAN ENTERPRISE PRIVATE LIMITED AND SAKTHI MURUGAN TRANSPORTS PRIVATE LIMITED. The lead manager to the issue is SAFFRON CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar to this issue is Link Intime India Private Limited.


Bannari Amman Rights Issue Date

The opening and the closing date of the IPO of Bannari Amman Spinning Mills Limited are [●] and [●] respectively.


Bannari Amman Rights Issue Allotment Status

Here, you can find the Allotment Status of this IPO.

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.

Bannari Amman Spinning Mills Rights Issue Dates

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

Issue Opening Date
[●]
Last date for on-market renunciation of rights / Date of closure of trading of Rights Entitlements[●]
Issue Closing Date[●]
Finalizing the basis of allotment with the Designated Stock Exchange[●]
Record date[●]
Date of Allotment[●]
Credit of Shares to Demat Account[●]
Share Listing Date[●]

Bannari Amman Spinning Mills Rights Issue Price

The face value of each share is Rs.5, but the Cash Price is Rs.[●] per Eq share. 


Bannari Amman Rights Issue Equity Size

This Initial Public Issue of X Equity Shares of Rs.5 each for cash at a price of Rs.[●] /- per equity share aggregating to Rs 10,000 Lakhs.


Bannari Spinning Mills Rights Issue – Live Performance

The listing date of this IPO is [●] (BSE) and [●] (NSE). You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Bannari Amman Spinning Mills Share Price

Bannari Amman Mills Rights Issue – Company Overview

Our principal line of business is manufacturing and marketing cotton yarn, woven and knitted fabrics, home textile products, knitted garments along the processing of fabrics and retailing of knitted garments. Our Company manufactures cotton yarn and fabrics which are in turn used as a raw material in the manufacturing of knitted and woven garments.

Moreover, all our manufacturing units and facilities are situated in the state of Tamil Nadu, India. Apart from manufacturing products for direct sale to our customers, to ensure the full utilization of the installed capacity of our manufacturing units, we are also engaged in carrying out various textile processes for third parties on a job work basis.

We procure cotton bales from domestic and international markets and market and sell cotton yarn, finished woven and knitted fabrics, knitted garments, and home textiles to various garment manufacture.

Our strict compliance with the internal quality control and international standards of quality has enabled us to expand our operations internationally to countries including China, England, Israel, Cameroon, United States of America, Germany, Spain, Japan, Italy, Korea, Thailand, Myanmar, Portugal, Egypt, Canada, Indonesia, Australia, Bangladesh, Hong Kong, Vietnam, Kenya, Sri Lanka, Poland, etc.


Bannari Amman Spinning Mills 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-Dec-2030-Sep-20Dec-1931-Dec-20Dec-1931-Mar-20
Total Assets
*Total Revenue25,339.7523,537.9425,563.1659,616.7670,249.2494,344.59
Total Expense24,338.4724,454.9725,200.0962,238.6369,233.4394,321.10
Profit After Tax848.29(776.92)122.33(2,221.25)784.2919.90

Earnings per Equity Share (in Lakhs)

31-Dec-2030-Sep-20Dec-1931-Dec-20Dec-1931-Mar-20
Basic & Diluted5.38(4.93)0.78(14.10)4.980.13

 

Financial Performance:

The revenue of our Company from the export operations for the nine months period ended December 31, 2020, and the Fiscals 2020, 2019, and 2018 are ₹ 22,424.00, ₹ 32,797.20 lacs, ₹ 38,440.43 lacs, and ₹ 45,934.33 lacs, respectively.

Our financial position and financial performance are dependent on the creditworthiness of our customers. As per our business network model, we supply our products directly to our customers without taking any advance payment or security deposit against the orders placed by them.

For the Fiscals ending March 31, 2020, 2019 and 2018 our trade receivables were ₹ 17,472.17 lakhs, ₹ 19,616.10 lakhs, and ₹ 13,012.22 lakhs, respectively, out of which, debts amounting to ₹ 814.52 lakhs, ₹ 657.17 lakhs, and ₹ 605.04 lakhs were outstanding for a period exceeding six months.


Bannari Amman Mills Rights Issue – Promoters

The Promoter of this company is:

  1. SANGAMPALAYAM VEDANAYAGAM ARUMUGAM,
  2. MURUGAN ENTERPRISE PRIVATE LIMITED
  3. SAKTHI MURUGAN TRANSPORTS PRIVATE LIMITED

List of Related Parties (Key Managerial Personnel)

  • Sangampalayam Vedanayagam Arumugam, Chairman and Managing Director
  • Sennimalai Gounder Palaniswami, Independent Director
  • Kodumudi Narayanaswami Venkata Ramani, Independent Director
  • Dr. Kugalur Ramasamy Thillainathan, Independent Director
  • Kulandai Samy Gounder Sadhasivam, Independent Director
  • Shanmugavelayutham Sihamani, Independent Director

Bannari Amman Mills Rights Issue Details

 ParticularsDetails of Equity Shares
Equity Shares proposed to be issuedUp to[●]  Equity Shares
Rights EntitlementOne Lot for every five Lots held on the Record Date
Record Date[●]
Issue Price per Rights Equity SharesRs.[●] /-
Issue SizeUp to[●] Equity Shares of the face value of ₹ 5 each for cash at a price of ₹ [●] per Rights Equity Share up to an amount of Rs 10,000 Lakh
Equity Shares issued, subscribed, and paid up prior to the Issue3,15,08,538 Equity Shares
Equity Shares subscribed and paid-up after the Issue[●] Equity Shares

Bannari Spinning Mills Rights  Issue Object

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

1. Part repayment or prepayment of Inter-Corporate Deposits availed by our Company from Murugan Enterprise Private Limited, one of the Promoters of our Company; and
2. Part repayment/ Pre-payment of certain secured loans availed from lenders

Bannari Spinning Mills Rights Issue – Business Strategy

  • To develop export opportunities for our products
  • Enhanced focus on efficiency, cost, and return on capital
  • Enhanced focus on efficiency, cost, and return on capital
  • investing in Advanced Technology
  • Leveraging of our Marketing Skills and Relationships

Bannari Rights 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 0914/915
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

Bannari Amman Rights Issue Registrar to offer

Registrar to the Offer
Link Intime India Private Limited
C – 101, 1st Floor, 247 Park,
L.B.S. Marg, Vikhroli (West),
Mumbai – 400 083, Maharashtra, India
Telephone: +91 22 4918 6200
Facsimile: +91 22 4918 6195
E-mail: bannari.rights@linkintime.co.in
Website: www.linkintime.co.in
Contact person: Sumeet Deshpande
Investor grievance: bannari.rights@linkintime.co.in
CIN: U67190MH1999PTC118368
SEBI Registration No: INR000004058
Validity of Registration: Permanent

Bannari Amman Spinning Mills Rights Issue – Other Details

  • Statutory Auditor – M/s. Deloitte Haskins & Sells LLP, Chartered Accountants
  • Legal Counsel to the Company – NA
  • Bankers to the Company – NA


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    Bannari Amman Spinning Mills Limited Rights Issue News

    News 1 – Bannari Amman Spinning Mills Rights Issue Draft Download

    News 2 –  Bannari Amman Spinning Mills Rights Issue Letter of Offer


    Bannari Amman Spinning Mills Rights Issue Review FAQs

    Where to download Bannari Amman Spinning Mills Rights Issue letter of offer?

    This page is the perfect hub for shareholders, which wish to pursue the option of buying additional Bannari Amman Spinning Mills 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 Bannari Amman Spinning Mills Rights Issue?

    Application forms of Bannari Amman Spinning Mills 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 Bannari Amman Spinning Mills Rights Issue allotment date?

    We are highly oriented to provide you with end-to-end details of the Bannari Amman Spinning Mills Rights Issue. Hence, we urge you to check out the page precisely for the allotment date. We will find a sub-section on the page, namely Rights Issue Dates, which features all necessary dates.

    What is the Bannari Amman Spinning Mills 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.110 per Equity Share through Bannari Amman Spinning Mills Rights Issue.

    Who is the registrar to Bannari Amman Spinning Mills Rights Issue?

    Registrar, as chosen by Bannari Amman Spinning Mills 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 Bannari Amman Spinning Mills Rights Issue is opening?

    We collected all the scattered data from the Letter of Offer for our readers, to make it easy for them to easily locate the required details. As per the offer stated, the Bannari Amman Spinning Mills Rights Issue is all set to open on NA.

    When the Bannari Amman Spinning Mills Rights Issue is closing?

    While the offer would open on NA, it is most likely scheduled to close on NA. This would be the last day you can bid for the shares, being an eligible shareholder. Check the article for more insights on Bannari Amman Spinning Mills Rights Issue.

    What is the Bannari Amman Spinning Mills Rights Issue size?

    Bannari Amman Spinning Mills Rights Issue is a proposal to raise X Equity shares, aggregating to Rs 10,000 Lakh, 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 Bannari Amman Spinning Mills Rights Issue Lead manager?

    A designated underwriter or lead manager of Bannari Amman Spinning Mills Rights Issue is SAFFRON CAPITAL ADVISORS PRIVATE LIMITED. We 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 Bannari Amman Spinning Mills Rights Issue?

    There are a bunch of important dates regarding the Bannari Amman Spinning Mills Rights Issue, which you need to know about. The priority should be the Record Date of NA, 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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