Skip to content
February 2, 2023
  • Facebook
  • Twitter
  • Linkedin
  • VK
  • Youtube
  • Instagram
The Times24

The Times24

Connect with Us

  • Facebook
  • Twitter
  • Linkedin
  • VK
  • Youtube
  • Instagram

Categories

  • Business
  • Business News
  • Education
  • Entertainment
  • Health
  • Lifestyle
  • National
  • Newsbeat
  • Press Release
  • Sports
  • Stories
  • Tech
  • Technology
  • World
Primary Menu
  • Business
  • Education
  • Entertainment
  • Lifestyle
  • Press Release
  • Technology
  • Home
  • 2022
  • September
  • 3
  • 7NR Retail Ltd’s Rs. 16.33 crores Rights Issue to open on September 6
  • Business
  • Business News
  • Press Release

7NR Retail Ltd’s Rs. 16.33 crores Rights Issue to open on September 6

dsprime September 3, 2022 3 min read
2

Rights Issue priced at Rs. 1.4 per share – 16.5% discount to share price on 2 Sep; Rights Issue opens on September 6 and closes on September 20

Ahmedabad, September 3: Makers of a leading Kids wear Brand ‘Gini & Jony’, Ahmedabad-based 7NR Retail Ltd, engaged in the business of trading of fabrics and apparel in the wholesale and retail segment, is scheduled to open its Rs. 16.33 crore rights issue on September 6, 2022. The funds raised through the issue will be utilised to meet the working capital requirements required to fund the company’s expansion plans, meeting working capital requirements and for general corporate purposes. The Right issue is offered at a price of Rs. 1.4 per share – 16.5% discount to share price of Rs. 1.68 per share on September 2 on BSE. Rights Issue closes on September 20, 2022.

The Company will issue 11,66,95,000 fully paid-up Equity Shares of the face value of Rs. 1 each for cash at a price of Rs. 1.4 per Equity Share aggregating to Rs. 16.34 crore 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 September 15, 2022.

Commenting on the development, Mr. Tarachand Gangasahay Agrawal, Managing Director, 7NR 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 etc. Our Company has started 2 new units in Ahmedabad at Vatva and Motera in the Segment of Retail Stores of Furniture, Garments and other products. The company has a mission to develop the franchisee in different cities of India, focusing more on Tier I and Tier II cities for expansion and to deliver superior quality to value to our customers, shareholders, employees and society at large. Proceeds of the issue will further strengthen the company’s balance sheet and help fund its strategic growth initiatives.”

Highlights:

Funds raised through the issue will be used to meet working capital requirements for the company’s business activities and general corporate purposes, including strengthening marketing, brand building etc

The rights entitlement ratio for the proposed rights issue is 1:1; i.e. one rights equity shares of Rs. 1 each for every 1 equity shares held by the equity shareholders

Company has fixed August 23 as the record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the rights issue

For FY22, the company reported a Total income of Rs. 24.29 crores and a Net profit of Rs. 77 lakh

Additionally, the company also proposes to deploy the proceeds of the Rights Issue to meet general corporate purposes, including brand-building exercises and strengthening marketing capabilities, general maintenance, partnerships, tie-ups or contingencies in the ordinary course of business and ongoing general corporate exigencies.

Incorporated in 2012, 7NR Retail Limited is engaged in the business of trading apparel in the Wholesale and Retail Segments. The company strives to focus on maintaining and reinforcing the image of its existing exclusive brand outlets under the brand name “Gini & Jony” in kids’ garments in the retail segment. Recently the Company has started the business of Suiting and Shirting. Company’s long-term focus continues to be investing in growth through new product launches and expanding retail footprints.

For FY22, the company reported a Total income of Rs. 24.29 crores and a Net profit of Rs. 77 lakh. Promoter Group holding in the company is 27.23% as on 30 June 2022. Post the rights issue, the total outstanding shares of the company should increase to 23,33,90,000 equity shares from 11,66,95,000 equity shares as on June 2022.

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail. com to notify us. We will respond and rectify the situation in the next 24 hours.

Continue Reading

Previous: Renowned Astrologer Dr Sohini Sastri Was the Chief Guest at The Trendsetter 2022 Maharashtra Time Event
Next: Rajdhani Gaurav Award Season 3 Organized by HV Group

2 thoughts on “7NR Retail Ltd’s Rs. 16.33 crores Rights Issue to open on September 6”

  1. Pingback: 7NR Retail Ltd’s Rs. 16.33 crores Rights Issue to open on September 6 – Primex News Network - Mumbai Times
  2. Pingback: 7NR Retail Ltd’s Rs. 16.33 crores Rights Issue to open on September 6 – Primex News Network – Biz News

Comments are closed.

Related Stories

“Manufacturers must understand the value of standardization in products”, says CEO of Rhino Motor starter
3 min read
  • Business

“Manufacturers must understand the value of standardization in products”, says CEO of Rhino Motor starter

February 2, 2023
The XIX Mumbai Interschool Sports Kudo tournament organized at Andheri Sports Complex
2 min read
  • Business

The XIX Mumbai Interschool Sports Kudo tournament organized at Andheri Sports Complex

February 2, 2023
MeraSapna.in Launches India’s First Online Property Prize Competition
2 min read
  • Business

MeraSapna.in Launches India’s First Online Property Prize Competition

February 2, 2023

Recent Posts

  • Naya Bharat Mahotsav, “Sankalp Se Siddhi Tak,” Edition 2 Organized in the United Kingdom
  • “Manufacturers must understand the value of standardization in products”, says CEO of Rhino Motor starter
  • The XIX Mumbai Interschool Sports Kudo tournament organized at Andheri Sports Complex
  • MeraSapna.in Launches India’s First Online Property Prize Competition
  • “Pastel Parrots: The Rise of a Fashion Brand” – Also became story of a homemaker’s transformation

Recent Comments

  1. Lagnam Spintex Limited Receives State Export Award by Rajasthan Government – Primex News Network - Mumbai Times on Lagnam Spintex Limited Receives State Export Award by Rajasthan Government
  2. HYCOT + leading audio brand in association with Daisy Shah – Primex News Network – Biz News on HYCOT + leading audio brand in association with Daisy Shah
  3. 950+ class owners benefited through GoI Intellectual Property Right (IPR) awareness program at Maharashtra Class Owners Association (MCOA) Teachers Felicitation Function – Primex News Network – Biz News on 950+ class owners benefited through GoI Intellectual Property Right (IPR) awareness program at Maharashtra Class Owners Association (MCOA) Teachers Felicitation Function
  4. Kagool joins British High Commissions Trusted Partner Scheme – Primex News Network – Biz News on Kagool joins British High Commissions Trusted Partner Scheme
  5. BigBloc Construction Ltd celebrated World Green Building Week 2022 with CII – IGBC; Planted Neem and Karen Trees – Primex News Network – Biz News on BigBloc Construction Ltd celebrated World Green Building Week 2022 with CII – IGBC; Planted Neem and Karen Trees

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • March 2022
  • February 2022
  • July 2018

Categories

  • Business
  • Business News
  • Education
  • Entertainment
  • Health
  • Lifestyle
  • National
  • Newsbeat
  • Press Release
  • Sports
  • Stories
  • Tech
  • Technology
  • World

Trending News

Naya Bharat Mahotsav, “Sankalp Se Siddhi Tak,” Edition 2 Organized in the United Kingdom 1

Naya Bharat Mahotsav, “Sankalp Se Siddhi Tak,” Edition 2 Organized in the United Kingdom

February 2, 2023
“Manufacturers must understand the value of standardization in products”, says CEO of Rhino Motor starter 2

“Manufacturers must understand the value of standardization in products”, says CEO of Rhino Motor starter

February 2, 2023
The XIX Mumbai Interschool Sports Kudo tournament organized at Andheri Sports Complex 3

The XIX Mumbai Interschool Sports Kudo tournament organized at Andheri Sports Complex

February 2, 2023
MeraSapna.in Launches India’s First Online Property Prize Competition 4

MeraSapna.in Launches India’s First Online Property Prize Competition

February 2, 2023
“Pastel Parrots: The Rise of a Fashion Brand” – Also became story of a homemaker’s transformation 5

“Pastel Parrots: The Rise of a Fashion Brand” – Also became story of a homemaker’s transformation

February 2, 2023
The Future of Indian Business: Meet the 10 Startups Changing the Game 6

The Future of Indian Business: Meet the 10 Startups Changing the Game

February 2, 2023
Family Care Hospital Limited Rs 4892 lakhs rights issue subscription close on 7 February, 2023 7

Family Care Hospital Limited Rs 4892 lakhs rights issue subscription close on 7 February, 2023

February 2, 2023

Tags

Ahmedabad Ajmal Perfumes Asheesh Pandey Ashok Prasad Abhishek Azadi ka Amrit Mahotsav Bangalore Bank of Maharashtra Bollywood Business Collegepond cricket Dinesh Pandya Education Entertainment Greenman Viral Desai Health Independence Day Kingston Technology LIBERTY SHOES lifestyle Manoj Patodia Mantis Dubai Munaf Patel Music national Newsbeat Patel Packaging pr Prime Fashion Week Rubaru Mr. India Saubhagyaa R Swain Saurav Bhattacharya Science SkyExch.net sports Star Housing Finance Limited Surat Talentrack Awards technology TEXPROCIL The Quests of William Wood Vincitore Group Viral Desai World Yaar Mera Titliaan Warga

Connect with Us

  • Facebook
  • Twitter
  • Linkedin
  • VK
  • Youtube
  • Instagram

Categories

  • Business (1,395)
  • Business News (619)
  • Education (130)
  • Entertainment (259)
  • Health (13)
  • Lifestyle (342)
  • National (133)
  • Newsbeat (5)
  • Press Release (646)
  • Sports (40)
  • Stories (2)
  • Tech (1)
  • Technology (17)
  • World (5)

You may have missed

Naya Bharat Mahotsav, “Sankalp Se Siddhi Tak,” Edition 2 Organized in the United Kingdom
3 min read
  • National

Naya Bharat Mahotsav, “Sankalp Se Siddhi Tak,” Edition 2 Organized in the United Kingdom

February 2, 2023
“Manufacturers must understand the value of standardization in products”, says CEO of Rhino Motor starter
3 min read
  • Business

“Manufacturers must understand the value of standardization in products”, says CEO of Rhino Motor starter

February 2, 2023
The XIX Mumbai Interschool Sports Kudo tournament organized at Andheri Sports Complex
2 min read
  • Business

The XIX Mumbai Interschool Sports Kudo tournament organized at Andheri Sports Complex

February 2, 2023
MeraSapna.in Launches India’s First Online Property Prize Competition
2 min read
  • Business

MeraSapna.in Launches India’s First Online Property Prize Competition

February 2, 2023
  • Business
  • Education
  • Entertainment
  • Lifestyle
  • Press Release
  • Technology
  • Facebook
  • Twitter
  • Linkedin
  • VK
  • Youtube
  • Instagram
Copyright © All rights reserved. | MoreNews by AF themes.