Share in Right issue offered at Rs. 5.76 per share as compared to closing price of Rs. 10.08 per share on 21 November 2024
Rs. 49.35 crore Rights issue of Ahmedabad based Shangar Decor Limited (BSE–540259), a company providing a wide range of decor services, opened for subscription on November 8, 2024. The funds raised through the right issue will be utilised to fund company’s working capital requirements, issue expenses, general corporate among others. Right issue of the company are offered at a price of Rs. 5.76 per share as compared to closing share price of Rs. 10.08 per share on November 21, 2024. Rights Issue will close on December 06, 2024. The last date for On-market Renunciation of Rights Entitlements is 29 November, 2024. Investors can also buy Rights Entitlements from the market to participate in the company’s right issue.
Shangar Decor Limited
| Issue Opens | Issue Price | Issue Closes |
| 08 November 2024 | Rs. 5.76 Per Equity Share | 06 December 2024 |
The Company will issue 8,56,82,800 fully paid-up Equity Shares of the face value of Rs. 5 each for cash at a price of Rs. 5.76 per Equity Share aggregating to Rs. 49.35 crore. The Rights entitlement ratio for the proposed issue is fixed at 7:1 (7 Rights equity shares of face value of Rs. 5 each for every 1 fully-paid equity share held by the equity shareholders on the record date – October 28, 2024). The last date for On-market Renunciation of Rights Entitlements is till November 29, 2024 .
Out of the issue proceeds of Rs. 49.35 crore, company intends to use Rs. 37.81 crore towards working capital requirement, Rs. 25 lakhs for rights issue expenses and Rs. 11.29 crore towards general corporate purposes.
Founded in 1995, Shangar Decor Limited excels in providing a wide range of decor services. The company specializes in pre-wedding events, weddings, corporate functions, government functions, thematic décor, infrastructure projects and exhibitions. Renowned for its creativity and meticulous attention to detail, Shangar Decor has established a strong presence in the Indian event industry. The company offers tailored solutions that transform ordinary spaces into unforgettable experiences.