Rights Detail for the 2022 Gyscoal Alloys Rights Issue
Gyscoal Alloys produces Stainless Steel and Mild Steel Long Products from recycled metal. The company’s initial focus was on the trade of iron and steel scraps, specifically billets.
They began producing rolled goods in 2005 after acquiring a steel rolling factory from Shah Alloys Group in Ubkhal. The company made the decision to produce Stainless Steel Long Products after considering the possibilities for greater value addition in the case of stainless steel products.
The Kukarwada facility can produce 18,000 MT per year for the corporation. Equipment in the plant includes an Induction furnace, rolling mills, a reheating furnace, a controller, a universal testing machine, and a diesel generator set. The facility can produce products made from the 200 series all the way up to the 400 series of stainless steel.
The company has recruited merchant bankers for a rights offer to existing shareholders to raise INR 150 crores. Currently, the company is working toward the goal of launching a new line of specialty items that are not widely available on the market and increasing the proportion of stainless steel to mild steel in its product offerings.
Gyscoal Alloys has sent its products to Thailand, Bangladesh, Vietnam, Kenya, Malaysia, Yemen, UAE, Philippines, Egypt, Germany, Ecuador, Morocco, Guatemala, Italy, Taiwan, Sri Lanka, Belgium, Brazil, Turkey, Indonesia, Iran, Russia, and Myanmar.
Viral Mukundbhai Shah is the founder and CEO of the company. He has been with the company since the beginning, and he was one of the people who started it.
Issue Date, Size & Price of Gyscoal Alloys Rights
| Gyscoal Alloys Rights Issue Date | 02 January 2023 – 12 January 2023 |
| Gyscoal Alloys Rights Issue Price | INR 2.75 per share |
| Issue Size (in Shares) | 17,41,03,116 shares |
| Issue Size (in INR) | INR 49.18 crore |
| Issue Entitlement | 110 Equity Shares for Every 100 Equity Shares held |
| Terms of Payment | The full amount is payable on the Application |
| Gyscoal Alloys Rights Issue Record Date | 23 December 2022 |
| Face Value | INR 1 per share |
| Listing On | NSE, BSE |
Issue 2022 Issue Timetable of Gyscoal Alloys Rights
| Record Date | Dec 23, 2022 |
| Credit of Rights Entitlements | Dec 30, 2022 |
| Bid/Offer Opens On | Jan 2, 2023 |
| Renunciation of Rights Entitlements | Jan 9, 2023 |
| Bid/Offer Closes On | Jan 12, 2023 |
| Deemed Date of Allotment | Jan 19, 2023 |
| Credit Date | Jan 25, 2023 |
| Listing Date | Jan 27, 2023 |
Gyscoal Alloys Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Revenue | 64.72 | 12.58 | 20.04 |
| Expenses | 89.14 | 105.17 | 33.79 |
| Net income | (13.69) | (74.49) | (5.63) |
| Margin (%) | (21.15) | (592.13) | (28.09) |
Gyscoal Alloys Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | – | – | (0.89) |
| PE ratio | – | – | – |
| RONW (%) | (9) | (121) | (23) |
| ROCE (%) | – | – | (22.9) |
| EBITDA | – | – | |
| Debt/Equity | – | – | |
| NAV per share | – | – |
Plot No. 2/3 GIDC Ubkhal, Kukarwada,
Tal. Vijapur, Dist. Mehsana Kukarwada – 382830,
Mahesana, Gujarat- 382830 India
Phone: +079 66614508
Email: cs@gyscoal.com
Website: http://www.gyscoal.com/
Gyscoal Alloys Rights Issue Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
Unit No. 9, Ground Floor,
Shiv Shakti Industrial Estate, J. R.
Boricha Marg, Lower Parel (East),
Mumbai – 400011, Maharashtra
Phone: +91-22-2301 0771/4961 4132
Email: support@purvashare.com
Website: www.purvashare.com
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Gyscoal Alloys Rights Offer FAQs
What is the price of the Gyscoal Alloys Rights Issue?
The issue price is INR 2.75 per share.
What is the entitlement ratio of the Gyscoal Alloys Rights Issue?
The eligible shareholders are offered 110 Equity Shares for Every 100 Equity Shares held by the eligible shareholder as on the Record date.
What is the Record Date of the Gyscoal Alloys Rights Issue?
The Record date is 23 December 2022.
How to Apply for Gyscoal Alloys Rights Offer?
The best way to apply in the Gyscoal Alloys Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
How to use Net Banking to apply for Gyscoal Alloys Rights Issue 2022 (ASBA)
- Sign in to your bank’s online banking account.
- Go to the part called “IPO & Rights Issue.”
- Check the list to see if the Gyscoal Alloys Rights Issue 2022 is there.
- Click the button that says “Apply” next to “Gyscoal Alloys Rights Issue 2022.”
- Fill out the form and double-check your information.
- Give the application a try.
