Contents
Mittal Life Style Limited, founded in 2005, is an important player in the textile trading industry, specializing in denim and base fabrics. The company distributes its products to various sectors within the textile industry, offering a wide array of fabric types including fashion fabrics, cotton canvas denim, polyester fabric, and knitted fabrics.
Mittal Life Style holds exclusive manufacturing rights for prominent brands like “GERICHO LONDON”, “MITTALIER LONDON”, and “MCALLEN PARIS”, and markets its products both online and offline through platforms like Amazon, Flipkart, and Snapdeal.
![Mittal Life Style Rights Issue 2024](https://i0.wp.com/ipogmptoday.in/wp-content/uploads/2024/07/Mittal-Life-Style-Rights-Issue-2024.webp?resize=1024%2C600&ssl=1)
Mittal Life Style Rights Issue 2024 Details
Mittal Life Style Limited initiated a Rights Issue in 2024 to raise funds for expansion and operational enhancement. Here are the specific details of the Rights Issue:
Parameter | Details |
---|---|
Issue Size | 147,966,925 shares |
Issue Size Amount | ₹29.59 Crores |
Issue Price | ₹2 per share |
Face Value | ₹1 per share |
Listing | National Stock Exchange (NSE) |
Record Date | To be announced |
Entitlement | 1 Rights Equity Share for every 2 fully paid-up Equity Shares held on Record Date |
Offer Latter | Click here |
Understanding Rights Issues
A Rights Issue is a method for companies to raise capital from existing shareholders by offering them the right to purchase additional shares at a discounted price. This mechanism helps in maintaining proportional ownership and can provide shareholders with an opportunity to participate in the company’s growth.
Financial Performance
Mittal Life Style Limited’s financial performance has seen notable changes between the fiscal years ending March 31, 2024, and March 31, 2023:
Financial Metric | FY Ending March 31, 2024 | FY Ending March 31, 2023 |
---|---|---|
Assets (₹ Crore) | 37.84 | 33.62 |
Revenue (₹ Crore) | 0.67 | 63.57 |
Profit After Tax (PAT) (₹ Crore) | 1.72 | 0.53 |
Mittal Life Style Financial Performance for FY Ending March 31, 2024 (₹ Crore)
Purpose of the Rights Issue
The Rights Issue by Mittal Life Style Limited aims to achieve several strategic objectives:
- Expansion Initiatives: Funding capacity expansion and modernization of manufacturing facilities to cater to increasing demand.
- Working Capital Requirements: Strengthening liquidity for day-to-day operations and business continuity.
- Debt Repayment: Reducing existing debt burdens to improve financial health and reduce interest costs.
- Marketing and Branding: Enhancing brand visibility and market penetration efforts to attract more customers and increase sales.
Subscription Process
Investors interested in participating in Mittal Life Style’s Rights Issue can follow these steps:
- Eligibility: Ensure eligibility based on the Record Date criteria.
- Application: Complete the application form provided by the company or through designated brokerage firms.
- Payment: Pay the subscription amount (₹2 per share) in full at the time of application.
- Allotment: Await allotment of Rights Equity Shares based on entitlement and availability.
In Conclusion
The Mittal Life Style Rights Issue 2024 presents an opportunity for existing shareholders to capitalize on the company’s growth potential and strategic initiatives. By participating in the Rights Issue, investors can contribute to Mittal Life Style’s expansion plans and potentially benefit from its anticipated growth trajectory in the textile sector.
For more detailed information regarding Mittal Life Style’s financial projections, frequently asked questions, and additional disclosures, investors are encouraged to refer to the company’s official communications and documents available on their website or consult with financial advisors.
FAQs For Mittal Life Style Rights Issue 2024
Why is Mittal Life Style Limited conducting a Rights Issue?
Mittal Life Style Limited is conducting the Rights Issue to raise funds for various purposes such as expansion of manufacturing facilities, meeting working capital requirements, debt repayment, and enhancing marketing efforts.
How many shares are being offered in the Rights Issue?
The Rights Issue of Mittal Life Style Limited comprises 147,966,925 shares, priced at ₹2 per share with a face value of ₹1 per share.
How do I participate in the Mittal Life Style Rights Issue 2024?
To participate in the Rights Issue:
Ensure you are a shareholder on the Record Date.
Fill out the application form provided by the company or through your brokerage firm.
Pay the subscription amount of ₹2 per share in full at the time of application.
What is the entitlement ratio for the Mittal Life Style Rights Issue 2024?
Shareholders are entitled to receive 1 Rights Equity Share for every 2 fully paid-up Equity Shares held on the Record Date.