Texel Industries Rights Issue Details, Dates, Size, Allotment and more
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Texel Industries Rights Issue offer open date, Term of payment, Texel Industries Limited Rights Issue Entitlement, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Issue Price | Rs 40 |
| Listing At | BSE |
| Min. Lot Size | [●] Eq Shares |
| Record Date | August 17, 2021 |
| Issue Size (Rs.) | Rs 1,248.96 Lakhs |
| Shares for Issue | 31,22,398 Eq Shares |
| Rights entitlement | 55 Rights Equity Shares for every 92, fully paid-up Equity Shares held on the Record Date |
Texel Industries Rights Issue is listed at BSE. Check out the live share price by clicking on the below link.
Texel Industries Rights Issue – Summary
Established in 1989, they are an ISO 9001:2015 certified company engaged in the manufacturing of tarpaulins and geomembranes with an experience of more than three decades. They manufacture a wide range of geosynthetic textile products which includes tarpaulins, geomembranes, vermibed, geo tank, geo tube, grow bags azollabed, and waterproof membrane.
Their products are used in agriculture, aquaculture, horticulture, animal husbandry, civil engineering, water harvesting, water conservation and disaster relief, landscaping, transportation, and waste management.
The Promoter of this company is MR. SHAILESH R. MEHTA, MS. AVANI S. MEHTA, MR. BHUPENDRA R. MEHTA, MS. SONAL B. MEHTA, MR. NARESH R. MEHTA, MS. SUJATA N. MEHTA, MR. RAMANIKLAL V. MEHTA, MS. MUKTA R. MEHTA$ , MS. AVISHI A. SHAREDALAL, MS. RIDDHI S. PARIKH, MS. RISHITA P. PARIKH, AND MR. AMAN N. MEHTA. The lead manager to the issue is Vivro Financial Services Private Limited, and the Registrar to this issue is Link Intime India Private Limited.
Texel Industries Rights Issue Date
The opening and the closing date of the Issue of Texel Industries Limited are AUGUST 31, 2021, and SEPTEMBER 14, 2021 respectively.
Texel Industries Rights Issue Allotment Status
Here, you can find the Allotment Status of this Rights 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.
Texel Industries Rights Issue Dates
Find the dates below on basis of allotment, record, listing, and more:
| Issue Opening Date |
August 31, 2021 |
| Last date for on-market renunciation of rights / Date of closure of trading of Rights Entitlements | September 8, 2021 |
| Issue Closing Date | September 14, 2021 |
| Finalizing the basis of allotment with the Designated Stock Exchange | [●] |
| Record date | August 17, 2021 |
| Date of Allotment | September 21, 2021 |
| Credit of Shares to Demat Account | September 22, 2021 |
| Share Listing Date | September 24, 2021 |
Texel Industries Rights Issue Price
The face value of each share is Rs.10, but the Cash Price is Rs.40 per Eq share.
Texel Industries Rights Issue Equity Size
This Right Issue of 98,68,640 Equity Shares of Rs.10 each for cash at a price of Rs.40 per equity share aggregating to Rs 1,248.96 Lakhs.
Texel Industries Rights Issue – Live Performance
The listing date of this Right Issue is September 24, 2021. You can check the live performance of the Right Issue here, only after it is listed on exchanges.
| Live Right Issue Performance – Texel Industries Share Price |
Texel Industries Rights Issue – Company Overview
Presently, they have one manufacturing facility which is located at Santej, Gandhinagar district, Gujarat. They have an installed manufacturing capacity of 9,000 MT per annum for geosynthetics textile products including tarpaulins.
They are in the process of setting up a new manufacturing facility at Unit No. P-2, Prime Industrial and Logistic Hub, Mouje- Hariyala, Taluka & District: Kheda, Gujarat which will expand their installed manufacturing capacity by 10,080 MT per annum for geosynthetics products.
Their products cater to different customers such as government departments, government organizations and private businesses, and farmers. The products are also sold to farmers through government tenders and market their products online. Their customers are from different industries which include agriculture, infrastructure, and irrigation.
Texel Industries 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 & Thousand) | ||
| 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 7,33,623.25 | 3,74,464.77 |
| *Total Revenue | 8,30,698.70 | 9,55,295.05 |
| Total Expense | 8,01,094.69 | 9,24,625.36 |
| Profit After Tax | 21,330.99 | 20,724.06 |
Earnings per Equity Share (in Lakhs)
| 31-Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 4.08 | 3.90 |
Financial Performance:
Their revenue from operations for Fiscal 2021 was Rs 8,279.28 Lakhs as compared to Rs 9,531.36 Lakhs for Fiscal 2020, representing a decrease of 13.14%. This decrease was primarily due to a decrease in the sale of manufacturing goods due to the Covid-19 pandemic.
The profit/(loss) before tax for Fiscal 2021 of Rs 296.04 Lakhs as compared to Rs 306.69 Lakhs for Fiscal 2020, representing a decrease of 3.47%. The decrease in profit was due to lower sales in Fiscal 2021 as explained above.
Texel Industries Rights Issue – Promoters
The Promoters of this company are:
- MR. SHAILESH R. MEHTA,
- MS. AVANI S. MEHTA,
- BHUPENDRA R. MEHTA,
- MS. SONAL B. MEHTA,
- MR. NARESH R. MEHTA,
- SUJATA N. MEHTA,
- MR. RAMANIKLAL V. MEHTA,
- MS. MUKTA R. MEHTA$,
- AVISHI A. SHAREDALAL,
- MS. RIDDHI S. PARIKH,
- MS. RISHITA P. PARIKH
- AMAN N. MEHTA
List of Related Parties (Key Managerial Personnel)
- Shailesh R. Mehta, Managing Director
- Kirit N. Mehta, Chairman & Independent Director
- Naresh R. Mehta, Non-Executive Director
- Christy L. Fernandez, Independent Director
- Jasmin N. Vohra, Independent Director
Texel Industries Rights Issue Details
| Particulars | Details of Equity Shares |
| Equity Shares proposed to be issued | Up to 31,22,398 Equity Shares |
| Rights Entitlement | 55 (Fifty-Five) Rights Equity Shares for every 92 (Ninety Two) fully paid-up Equity Shares held on the Record Date |
| Record Date | August 17, 2021 |
| Issue Price per Rights Equity Shares | Rs.40/- |
| Issue Size | Up to Rs 1,248.96 Lakhs |
| Equity Shares issued, subscribed, and paid up prior to the Issue | 52,22,921 Equity Shares |
| Equity Shares subscribed and paid up after the Issue | Up to 83,45,319 Equity Shares |
Texel Industries Rights Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Setting up a new manufacturing facility at Unit No. P-2, Prime Industrial and Logistics Hub, MoujeHariyala, Taluka & District: Kheda, Gujarat (the “Proposed Expansion”);
2. General corporate purposes.
Texel Industries Rights Issue – Business Strategy
- Expansion of their existing production capacity
- Continue to focus on cost efficiency and improving productivity
- Expanding their global presence
Texel Industries Rights Issue Lead Managers
| Lead Managers |
| Vivro Financial Services Private Limited Vivro House, 11, Shashi Colony, Opposite Suvidha Shopping Center, Paldi, Ahmedabad – 380007, Gujarat, India. Telephone: +91-79-4040 4242 Email: texel@vivro.net; Website: www.vivro.net Investor Grievance Email: investors@vivro.net Contact Person: Mili Khamar / Bhargav Parekh SEBI Registration Number: INM000010122 CIN: U67120GJ1996PTC029182 |
Texel Industries 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. Telephone: + 91-22-4918 6200 Email: texel.rights@linkintime.co.in Website: www.linkintime.co.in Investor Grievance Email: texel.rights@linkintime.co.in Contact Person: Sumeet Deshpande SEBI Registration Number: INR000004058 |
Texel Industries Rights Issue – Other Details
- Statutory Auditor – M/s. Sunil Poddar & Co., Chartered Accountant
- Legal Counsel to the Company – M/s. Kanga & Co.
- Bankers to the Company –Kotak Mahindra Bank Limited
Subscribe to Texel Industries Rights Issue
Texel Industries Limited Rights Issue News
News 1 – Texel Industries Rights Issue Draft Download
News 2 – Texel Industries Rights Issue Letter of Offer
Texel Industries Rights Issue Review FAQs
Where to download Texel Industries Rights Issue letter of offer?
This page is the perfect hub for shareholders, which wish to pursue the option of buying additional Texel Industries 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 Texel Industries Rights Issue?
Application forms of Texel Industries 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 Texel Industries Rights Issue allotment date?
They are highly oriented to provide you with end-to-end details of the Texel Industries 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 Texel Industries 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.40 per Equity Share through Texel Industries Rights Issue.
Who is the registrar to Texel Industries Rights Issue?
Registrar, as chosen by Texel Industries 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 Texel Industries 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 Texel Industries Rights Issue is all set to open on August 31, 2021.
When the Texel Industries Rights Issue is closing?
While, the offer would open on March 24, 2021, it is most likely scheduled to close on September 14, 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 Texel Industries Rights Issue.
What is the Texel Industries Rights Issue size?
Texel Industries Rights Issue is a proposal to raise 31,22,398 Equity shares, aggregating to Rs 1,248.96 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 Texel Industries Rights Issue Lead manager?
A designated underwriter or lead manager of Texel Industries 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 Texel Industries Rights Issue?
There are a bunch of important dates regarding the Texel Industries Rights Issue, which you need to know about. The priority should be the Record Date of August 17, 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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