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Trading of Rights Entitlements will start from 22nd August, 2022 to 29th August, 2022 on NSE; Company’s Rights Issue opens on 22nd August, 2022 and closes on 05th September, 2022
Highlights of Rights Issue:-
- Funds raised by means of the Issue shall be utilised in direction of assembly the working capital necessities, reimbursement of sure excellent borrowings, and basic company functions.
- The Rights Entitlement Ratio for the proposed Rights Issue is 9 Rights Equity Shares of INR 100 every (together with premium of INR 90 per share) for each 25 fairness shares of INR 10 every (i.e. ratio of 09:25) held by the fairness shareholders as on the Record Date i.e. 10th August, 2022. The Company to provide 36.17 Lakhs Equity Shares by means of this Rights Issue.
- Post Completion of the Issue, the overall excellent Equity Share Capital of the Company would enhance to INR 1366.26 Lakhs from INR 1004.6 Lakhs.
- Fedex Securities Pvt. Ltd. is the only lead supervisor to the rights difficulty.
NAVI MUMBAI, India, Aug. 29, 2022 /PRNewswire/ — Tembo Global Industries Limited (“Tembo” or “the Company”), producer of Pipe Support System having a world presence, is opening its Rights Issue for subscription of its shareholders. The difficulty opens on 22nd August, 2022 and closes on 05th September, 2022. The Company is elevating INR 3616.56 Lakhs by means of the Rights Issue to fund its working capital necessities and reimbursement of its sure excellent borrowings. Equity Shares underneath the Rights Issue are provided at a value of INR 100 per Share (together with premium of INR 90 per share) i.e. 20% low cost to the closing share value of INR 125 per share on 18thAugust, 2022 on NSE. Online Trading of the Rights Entitlements allotted to eligible shareholders is on the market on NSE between 22nd August, 2022 and 29th August, 2022
Commenting on the event, Mr. Sanjay Jashbhai Patel, Managing Director, Tembo Global Industries Limited, mentioned, “Tembo is India’s hub for pipe support system solution products and UL & FM certified products and accounts for more than 65% of the country’s total production, housing over 2MT of production per day. Tembo Global Industries Limited has lined up major expansion plans in Virar region in the state of Maharashtra, keeping in mind strategic locational advantages, proximity to the raw material sources, easy & quick availability of manpower, proximity to some of the country’s largest ports, among others. Upon the execution of the proposed plans, Tembo Global Industries Limited is expected to strengthen its position as an integrated one destination for all construction needs and Pipe Support System Solutions products and up the Company’s margin profile in near to medium term.”
The Company has bought land admeasuring 16000 sq. meters; which can enhance manufacturing capability to greater than 400%.
The Company has estimated that web working capital requirement in Fiscal 2022-23 might be round INR 7424.80 Lakhs, for which Company is planning to utilise round INR 1909.24 Lakhs out of the Rights Issue Proceeds.
Additionally, the Company additionally proposes to deploy the proceeds of the Rights Issue to meet basic company functions together with different strategic initiatives, model constructing and strengthening, advertising and marketing actions, and ongoing basic company exigencies.
Highlights of Key Strategic Initiatives and Milestones achieved in FY 2021-22:-
- Foreign orders of 15.50 Million USD
- Entered Canada Market and obtained UL certification for merchandise
- Entered the Australia& New Zealand Market
- Projects awarded in CBD Egypt
- Increased our international presence by means of places of work in Sri Lanka and Texas, US
- Arrangement with Idistub, Spain
- Supplier’s contract in FIFA Stadium Project, Qatar
- Supplier’s contract in Harmed worldwide Airport
- Supplier’s contract in Saudi Aramco Project
- Tembo supplies utilized in Metro, Airport, refineries, Petro Chemicals industries, Building and building, and so on in India
- Inhouse Manufacturing plant of Fasteners, Dry wall screw, Malleable Hangers and so on.
Company Address:
Plot No. PAP-D – 146/147
TTC Industrial Estate, MIDC, Turbhe, Sanpada Road
Opp. Balmer Lawrie Van Leer Co.
Turbhe, Navi Mumbai – 400 705
Maharashtra- India
