Let’s have a detailed review of the company and analytics of the Nxtdigital Rights Issue offer open date, Term of payment, Nxtdigital 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 300
Listing AtNSE BSE
Min. Lot Size[●] Eq Shares
Record DateOct 25, 2021
Issue Size (Rs.)Rs 28,861.39 Lakhs
Shares for Issue96,20,463 Eq Shares
Rights entitlement2 (two) Rights Equity Shares for every 5 (five) Equity Shares

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


Nxtdigital Rights Issue – Summary

Nxtdigital Rights IssueThey are an established digital content distribution company in India engaged in delivering digital content via cable network as well as through their Headend In The Sky (“HITS”) platform through a network of Local Cable Operators (“LCO(s)”). They provide digital content to their subscribers either directly or through their affiliated LCOs.

Also, they are an established digital content distributor company in India offering digital content through cable networks and their HITS platform. Their HITS platform includes invested infrastructure for downlinking and uplinking facilities as well as certain satellite transponders.

The Promoter of this company is MR. ASHOK PARMANAND HINDUJA, MRS. HARSHA ASHOK HINDUJA AND HINDUJA GROUP LIMITED. The lead manager to the issue is Vivro Financial Services Private Limited, and the Registrar to this issue is KFin Technologies Private Limited.


Nxtdigital Rights Issue Date

The opening and the closing date of the Nxtdigital Limited Rights Issue are Nov 15, 2021, and Nov 29, 2021, respectively.


Nxtdigital 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.

Nxtdigital Rights Issue Dates

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

Issue Opening Date
Nov 15, 2021
Last date for on-market renunciation of rights / Date of closure of trading of Rights EntitlementsNov 24, 2021
Issue Closing DateNov 29, 2021
Finalizing the basis of allotment with the Designated Stock ExchangeDecember 3, 2021
Record dateOct 25, 2021
Date of AllotmentDecember 4, 2021
Credit of Shares to Demat AccountDecember 6, 2021
Share Listing DateDecember 8, 2021

Nxtdigital Rights Issue Price

The face value of each share is Rs.10, but the Cash Price is Rs.300 per Eq share. 


Nxtdigital Rights Issue Equity Size

This Initial Public Issue of 96,20,463 Equity Shares of Rs.10 each for cash at a price of Rs.300 per equity share aggregating to Rs 28,861.39 Lakhs.


Nxtdigital Rights Issue – Live Performance

The listing date of this IPO is December 8, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Nxtdigital Share Price

Nxtdigital Rights Issue – Company Overview

Their business model is fundamentally a B2B2C model wherein, they generally structure their relationships with LCOs such that these LCOs continue to be the principal contact with their subscribers in the relevant local area.

They enter into business arrangements with LCOs through Interconnect Agreements executed by them on a principal-to-principal basis with them.

Their primary source of revenue for digital content services is subscription income received from subscribers either directly or through LCOs, placement income received from broadcasters for placing their channels in preferred logical channel number line up on their platforms, incentives received from broadcasters for deeper penetration of their channels in their customer base, and carriage income from carriage fees payable by broadcasters for carrying their channels.

As of May 31, 2021, they operate their business on an India basis through more than 10,000 LCOs located across India.


Nxtdigital Ltd 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 Assets1,87,806.771,96,402.50
*Total Revenue1,00,845.071,16,209.96
Total Expense1,12,300.921,13,763.33
Profit After Tax(1.390.17)(13,408.97)

Earnings per Equity Share (in Lakhs)

31-Mar-2131-Mar-20
Basic & Diluted(11.92)(199.50)

 

Financial Performance:

Their total income from operations for Fiscal 2021 was Rs 1,00,845.07 lakhs as compared to Rs 1,16,209.96 lakhs for Fiscal 2020, representing a decrease of 13.22%.

Their income from operations for Fiscal 2021 was Rs 97,488.15 lakhs as compared to Rs 99,998.35 lakhs for Fiscal 2020, representing a decrease of 2.51%. This was primarily a due decrease in direct subscription services as well as subscription services by cable operators, installation charges, LCN incentives, lease income from optic fibre cable.

Other income for Fiscal 2021 was Rs 3,356.92 lakhs as compared to Rs 16,211.61 lakhs for Fiscal 2020, representing a decrease of 79.29%. The decrease in other income was primarily due to a decrease in fair value gains on financial instruments, fair value gain on the termination of the lease, sundry credit balances which are no longer required to be written back.


Nxtdigital Ltd Rights Issue – Promoters

The Promoters of this company are:

  1. MR. ASHOK PARMANAND HINDUJA
  2. MRS. HARSHA ASHOK HINDUJA
  3. HINDUJA GROUP LIMITED

List of Related Parties (Key Managerial Personnel)

  • Ashok Parmanand Hinduja, Chairman, and Non-Executive Director
  • Anil Harish, Independent Director
  • Prashant Khatau Asher, Independent Director
  • Bhumika Batra, Independent Director
  • Sudhanshu Kumar Tripathi,
  • Munesh Khanna, Additional (Independent) Director

Nxtdigital Ltd Rights Issue Details

 ParticularsDetails of Equity Shares
Equity Shares proposed to be issuedUp to 96,20,463 Rights Equity Shares
Rights Entitlement2 (two) Rights Equity Shares for every 5 (five) Equity Shares
held on the Record Date
Record DateOct 25, 2021
Issue Price per Rights Equity SharesRs.300/-
Issue SizeUp to Rs 28,861.39 lakhs
Equity Shares issued, subscribed, and paid up prior to the Issue2,40,51,158 Equity Shares
Equity Shares subscribed and paid up after the IssueUp to 3,36,71,621 Equity Shares

Nxtdigital Ltd Rights Issue Object

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

  1. Repayment and /or prepayment, of all or a portion of certain outstanding borrowings including interest availed by their Company
  2. General corporate purposes.

Nxtdigital – Business Strategy

  • Growing subscriber base in their existing markets and enter into new geographies
  • Continue to deliver superior customer service
  • Deployment of new technology
  • Increase broadband subscriber base by leveraging their presence, infrastructure, and range of service offerings

Nxtdigital Rights Issue Lead Managers

Lead Managers
Vivro Financial Services Private Limited
607/608 Marathon Icon, Opp. Peninsula Corporate Park,
Off. Ganpatrao Kadam Marg, Veer Santaji Lane,
Lower Parel, Mumbai – 400013 Maharashtra, India.
Telephone: +91 22 6666 8040
Email: nxtdigital.rights@vivro.net
Website: www.vivro.net
Investor Grievance Email: investors@vivro.net
Contact Person: Mr.Yogesh Malpani / Mr. Bhargav Parekh
SEBI Registration Number: INM000010122

Nxtdigital Rights Issue Registrar to offer

Registrar to the Offer
KFin Technologies Private Limited
Selenium Tower – B, Plot 31 & 32,
Gachibowli, Financial District,
Nanakramguda, Serilingampally, Hyderabad 500 032
Telangana, India.
Tel: +91 40 6716 2222
Email: nxtdigital.rights@kfintech.com
Investor Grievance Email: einward.ris@kfintech.com
Website: www.kfintech.com
Contact Person: M. Murali Krishna
SEBI Registration Number: INR000000221

Nxtdigital Rights Issue – Other Details

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


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    Nxtdigital Limited Rights Issue News

    News 1 – Nxtdigital Rights Issue Draft Download

    News 2 –  Nxtdigital Rights Issue Letter of Offer


    Nxtdigital Rights Issue Review FAQs

    Where to download the Nxtdigital Rights Issue letter of offer?

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

    Application forms of this 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 Nxtdigital Limited allotment date?

    They are highly oriented to provide you with end-to-end details of the Nxtdigital 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 Nxtdigital 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.300 per Equity Share through the Nxtdigital Rights Issue.

    Who is the registrar to Nxtdigital Ltd Issue?

    Registrar, as chosen by Nxtdigital is KFin Technologies 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 Nxtdigital Ltd 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 Nxtdigital Rights Issue is all set to open on Nov 15, 2021.

    When the Nxtdigital Rights Issue is closing?

    While the offer would open on Nov 15, 2021, it is most likely scheduled to close on Nov 29, 2021. This would be the last day you can bid for the shares, being an eligible shareholder. Check the article for more insights on Nxtdigital Rights Issue.

    What is the Nxtdigital Ltd Rights Issue size?

    Nxtdigital Rights Issue is a proposal to raise 96,20,463 Equity shares, aggregating to Rs 28,861.39 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 Nxtdigital Issue Lead manager?

    A designated underwriter or lead manager of Nxtdigital Rights Issue is Vivro Financial Services 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 Nxtdigital Rights Issue?

    There are a bunch of important dates regarding the Nxtdigital Rights Issue, which you need to know about. The priority should be the Record Date of Oct 25, 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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