Share in Right issue offered at Rs. 44.95 per share as compared to closing price of Rs. 60.43 per share on 6 November 2024
- The company will issue 1.08 crore fully-paid equity shares at an issue price of Rs. 44.95 per share; Rights Issue will close on December 05, 2024
- Right Issue funds will be utilised to fund company’s working capital requirements, issue expenses and for general corporate purpose
The rights entitlement ratio for the proposed rights issue is 4:1, 4 rights equity shares of Rs. 10 each for every 1 fully-paid up equity shares held by the eligible equity shareholders
Rs. 48.95 crore Rights issue of Ahmedabad based Mercury Trade Links Limited (BSE – 512415) engaged in the business of trading agro products will opened for subscription on November 7, 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. 44.95 per share as compared to closing share price of Rs. 60.43 per share on November 6, 2024. Rights Issue will close on December 05, 2024. This is the 2nd Rights Issue from the company since March 2024 with first rights issue at a price of Rs. 40.00 per share to mobilize Rs. 9.90 cr.
Mercury Trade Links Limited
| Issue Opens | Issue Price | Issue Closes |
| 07 November 2024 | Rs. 44.95 Per Equity Share | 05 December 2024 |
The Company will issue 1,08,90,000 fully paid-up Equity Shares of the face value of Rs. 10 each for cash at a price of Rs. 44.95 per Equity Share (including a premium of Rs. 34.95 per Equity Share) aggregating to Rs. 48.95 crore. The Rights entitlement ratio for the proposed issue is fixed at 4:1 (4 Rights equity shares of face value of Rs. 10 each for every 1 fully-paid equity share held by the equity shareholders on the record date – October 24, 2024). The last date for On-market Renunciation of Rights Entitlements is till November 29, 2024 .
Out of the issue proceeds of Rs. 48.95 crore, company intends to use Rs. 36.94 crore towards working capital requirement, Rs. 25 lakhs for rights issue expenses and Rs. 11.76 crore towards general corporate purposes.
Founded in 1985, Mercury Trade Links Limited specializes in trading a wide range of agro products including fertilizers, manures, plant and animal foods. They also trade in pesticides such as insecticides, herbicides and fungicides as well as various types of grain and seeds. Their extensive product portfolio includes rice, corn, milo, cotton seeds, soybeans, groundnuts, castor seeds, linseeds, sunflower, coconut, rapeseed, almonds, sesame seeds, mustard, sea seeds and grape seeds.
For FY23-24 ended March 2024, the company has reported revenue of Rs. 13.83 crore, rise of 2796.42% as compared to the total income of Rs. 0.48 crore in FY23. Net Profit for FY24 was reported at Rs. 1.14 crore.