
Mr. Dinesh Pandya, CMD, Add-Shop E-Retail Ltd
Rights Issue priced at Rs. 54 per share – 36% discount to share price on 11 Aug;
Rights Issue opens on August 17 and closes on August 30
Highlights:-
· Funds raised through the issue will be used to meet working capital requirements for the company’s business activities and general corporate purposes · The rights entitlement ratio for the proposed rights issue is 1:1; 1rights equity shares of Rs. 10 each for every 1 equity share of Rs.10 each held by the equity shareholders · The company has fixed August 8 as the record date to determine the equity shareholders entitled to receive the rights entitlement in the rights issue · For FY22, the company reported a 148% rise in Net profit to Rs. 19.1 crores; sales grew 103% to Rs. 159.7 crore |
Ahmedabad (Gujarat) [India], August 16: Add-Shop E-Retail Ltd, one of the leading companies in the production and distribution of Ayurveda supplements, Herbal cosmetics & Personal care range, Animal feed supplements and Organic fertilizers, is scheduled to open its Rs. 48.90 crore rights issue on August 17, 2022. The funds raised through the issue will be utilised to meet the working capital requirements required to fund the company’s expansion plans, enter new geographies and for general corporate purposes. Right issues are offered at a price of Rs. 54 per share – a 36% discount to the share price of Rs. 84.25 per share on August 11 on BSE. Rights Issue closes on August 30, 2022. Finshore Management Services Ltd is the lead manager of the issue.
The Company will issue 90,56,255 fully paid-up Equity Shares of the face value of Rs. 10 each for cash at a price of Rs. 54 per Equity Share (including a premium of Rs. 44 per Equity Share) aggregating to Rs. 48.90 crores on a rights basis to eligible equity shareholders in the ratio of 1:1 (1 Equity Shares for every 1 Equity shares fully paid-up Equity Share held by the Eligible Equity Shareholders of the Company, as on the record date). The last date for On-market Renunciation of Rights Entitlements is August 24, 2022.
Commenting on the development, Mr. Dinesh Pandya, Chairman and Managing Director, Add-Shop E-Retail Ltd said, “Company has taken important strategic initiatives in the recent past with a focus to expand the product line, adding more channel partners and hiring more farmers and associates. Our long-term focus continues to be investing in growth through new product launches and expanding retail footprints. With the recent installation of a new line of machinery, the company’s manufacturing capacity will increase to 30 million metric tons per year. Proceeds of the issue will further strengthen company’s balance sheet and help fund its strategic growth initiatives.”
Add-Shop E-Retail Limited was founded by a visually impaired Mr. Dineshbhai Pandya – a first-generation entrepreneur, trainer, and motivator. The company aims to promote healthy living and implement solutions for two very deep-rooted challenges of our nation – unemployment & unhealthiness of our citizens. Company products are 100% Ayurvedic with no chemicals and are cruelty-free. Add Shop has been awarded for being in the Top 100 SME Award in the year 2018-19.
Post the rights issue, the company’s total outstanding shares should increase to 2,83,12,956 equity shares from 1,92,56,701 equity shares as of June 2022.
For FY 22, Company reported a net profit of Rs. 19.1 crores – a growth of 148% compared to a net profit of Rs. 7.7 crore in FY21. Sales for FY22 were reported at Rs. 159.7 crore – a growth of 103% as against sales of Rs. 78.6 crores in FY21. The company has reported a strong CAGR of 92% in Sales and 180% in Net Profit for the last 3 years with a healthy ROE of 64% and ROCE at 67.8%. Promoter Group holding in the company is 52.97% as on 30 June 2022.
Add-Shop E-Retail Ltd is one of the pioneers in promoting organic farming and producing organic farm goods in the country. Started in 2015 with just two goods in the Agricultural segment and eight in other categories, over time, the company’s product offering has expanded to 120 items, with 10 distinct Agriculture products and the remaining in other categories. The company has a strong network of over 6500 distributors and 2000 franchises across the country.
Established in 2015 to provide the best in globe ayurvedic, personal care, and agricultural products, Add-shop fulfils the emerging healthcare needs of millions of houses and adds extra mileage to India’s developing animal feed supplement market hallmark of unbeaten product quality. Add-shop has stayed ahead of the curve in this competitive era of medications and dietary supplements by concentrating on bridging the nutrition gap with Ayurvedic products. The Company offers a comprehensive product range across ayurvedic and personal care products regarding product applications.
With its new state-of-the-art manufacturing facilities, the company will attempt to satisfy the agricultural and animal feed supplement product requirements of diverse geographies. To scale production at the new manufacturing plant, the Company will harness its strong network of over 6500 distributors and 2000 franchises across the country.
The business commenced operations in 2015 with just two goods in the Agricultural segment and eight in other categories; however, over time, the company’s product offering has expanded to 120 items, with 10 distinct Agriculture products and the remaining in other categories. Consequently, the Company has lived up to its potential and kept its commitments to its stakeholders. Furthermore, most goods are protected by trademarks, registrations, and patents.
For more information, visit https://www.addshop.co
If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.
I’ve been absent for some time, but now I remember why I used to love this site. Thank you, I will try and check back more often. How frequently you update your site?
Some truly interesting information, well written and loosely user pleasant.
I¦ll immediately snatch your rss feed as I can’t find your email subscription hyperlink or newsletter service. Do you’ve any? Please allow me realize so that I may just subscribe. Thanks.
You have mentioned very interesting points! ps decent web site. “High school is closer to the core of the American experience than anything else I can think of.” by Kurt Vonnegut, Jr..
Hi this is kind of of off topic but I was wanting to know if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding knowledge so I wanted to get advice from someone with experience. Any help would be greatly appreciated!
Good day! I know this is kind of off topic but I was wondering if you knew where I could find a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having trouble finding one? Thanks a lot!
I?¦ve been exploring for a bit for any high-quality articles or blog posts in this sort of area . Exploring in Yahoo I eventually stumbled upon this website. Studying this info So i?¦m glad to show that I’ve a very just right uncanny feeling I discovered exactly what I needed. I so much definitely will make certain to don?¦t omit this site and give it a look regularly.
Hello! This is my first comment here so I just wanted to give a quick shout out and tell you I genuinely enjoy reading your articles. Can you suggest any other blogs/websites/forums that cover the same subjects? Thanks for your time!
Good info. Lucky me I reach on your website by accident, I bookmarked it.
I’m not sure where you’re getting your information, but great topic. I needs to spend some time learning more or understanding more. Thanks for magnificent information I was looking for this information for my mission.
Appreciate it for all your efforts that you have put in this. very interesting info .
Very interesting topic, thank you for putting up.
Sweet blog! I found it while surfing around on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Cheers
Wow, incredible weblog structure! How lengthy have you been running a blog for? you make running a blog glance easy. The entire look of your web site is magnificent, as well as the content material!
I will immediately snatch your rss as I can not in finding your e-mail subscription hyperlink or newsletter service. Do you have any? Kindly let me recognise in order that I may just subscribe. Thanks.
I am really impressed with your writing abilities as neatly as with the layout to your blog. Is this a paid subject or did you customize it your self? Either way stay up the nice high quality writing, it is rare to see a great weblog like this one nowadays..