Shangar Decor's Rs. 49.35 crore rights issue closes on December 6

Ahmedabad (Gujarat) [India], November 26: A Rs 49.35-crore rights contented of Ahmedabad-based Shangar Decor Ltd (BSE–540259), a institution providing a wide scope of decor services, opened for subscription on November 8, 2024. The funds raised done the close contented volition beryllium utilised to money the company's moving superior requirements, contented expenses, wide firm purposes, among others. Right issues of the institution are offered astatine a terms of Rs. 5.76 per stock arsenic compared to the closing stock terms of Rs. 10.08 per stock connected November 21, 2024. The rights contented volition adjacent connected December 6, 2024. The past day for on-market renunciation of rights entitlements is November 29, 2024. Investors tin besides bargain rights entitlements from the marketplace to enactment successful the company's rights issue.

Shangar Decor Limited

The Company volition contented 8,56,82,800 afloat paid-up Equity Shares of the look worth of Rs. 5 each for currency astatine a terms of Rs. 5.76 per Equity Share aggregating to Rs. 49.35 crore. The Rights entitlement ratio for the projected contented is fixed astatine 7:1 (7 Rights equity shares of look worth of Rs. 5 each for each 1 fully-paid equity stock held by the equity shareholders connected the grounds day – October 28, 2024). The past day for On-market Renunciation of Rights Entitlements is November 29, 2024.

Shareholders are entitled to use for 7 rights equity shares for each afloat paid-up equity stock held connected the grounds day of October 28. Investors who did not clasp shares connected the grounds day tin enactment successful the rights contented by acquiring rights entitlements from the exchange.

The rights contented shares volition beryllium credited to shareholders’ demat accounts connected December 19, portion the listing volition instrumentality spot connected the Bombay Stock Exchange (BSE) connected December 24.

Highlights:

• The past day for On-market Renunciation of Rights Entitlements is November 29, 2024. 
• The institution volition contented 8.56 crore fully-paid equity shares astatine an contented terms of Rs. 5.76 per share; Rights Issue volition adjacent connected December 6, 2024.
• Right Issue funds volition beryllium utilised to money the company's moving superior requirements, contented expenses, and for wide firm purposes. 
• The rights entitlement ratio for the projected rights contented is 7:1, 7 rights equity shares of Rs. 5 each for each 1 fully-paid up equity shares held by the eligible equity shareholders.

Out of the contented proceeds of Rs. 49.35 crore, the institution intends to usage Rs. 37.81 crore towards moving superior requirement, Rs. 25 lakhs for rights contented expenses and Rs. 11.29 crore towards wide firm purposes. 

Founded successful 1995, Shangar Decor Limited excels successful providing a wide scope of decor services. The institution specialises successful pre-wedding events, weddings, firm functions, authorities functions, thematic décor, infrastructure projects and exhibitions. Renowned for its creativity and meticulous attraction to detail, Shangar Decor has established a beardown beingness successful the Indian lawsuit industry. The institution offers tailored solutions that alteration mean spaces into unforgettable experiences.

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