PNN
Mumbai (Maharashtra) [India], May 19: Rs.48.17 crore Right Issue of Growington Ventures India Limited (BSE - 539222) promoted by CA Vikram Bajaj and engaged in the business of supply chain from import of Fresh Fruits and distribution to corporate in hospitality and E-commerce is open for subscription till June 12, 2025. The rights issue was opened for subscription on May 14, 2025. The right issue of the company is attractively priced at Rs . 1 per share as compared to a closing price of Rs. 1.68 per share on 16 May 2025. The Rights Issue will close on June 12, 2025.
Investors may also buy Growington Ventures Rights Entitlements (BSE - 750979) from BSEto participate / subscribe in the company's right issue at Rs. 1. The last date for On-market Renunciation of Rights Entitlements is till June 6, 2025.
The Rights entitlement ratio for the issue is fixed at 3:1 (3 Rights equity shares for every 1 equity share held by shareholders on the record date - April 29, 2025). The Company will issue 48,16,61,820 fully paid-up Equity Shares at a price of face value of Rs. 1 each.
Highlights:-
* Share in Right issue attractively priced at Rs. 1 per share as compared to the current market price of Rs. 1.68 per share on 16 May 2025
* Last Date for On-Market Renunciation is June 06, 2025
* The company recorded a Net Profit of Rs. 380 lakh for Q2FY25, which doubled from Rs. 134 lakh Net Profit in Q2FY24
Out of the issue proceeds of Rs. 48.16 crore from the rights issue, Rs. 36.95 crore will be utilised to augment the existing and incremental working capital requirement of our company and Rs. 10.46 crore towards general corporate purposes.
For the FY24 ended March 2024, company reported net profit rise of 40% to Rs. 1.76 crore as compared to the net profit of Rs. 1.26 crore in the corresponding period of FY23. Revenue of the company during FY24 was reported at Rs. 30.34 crore, rise of 55% as compared to revenue of Rs. 19.63 crore in FY23.
Growington Ventures Ltd is engaged in the business of supply chain from the import of Fresh Fruits and distribution to corporations in hospitality and E-commerce. The Company is professional managed with the vision to serves the fresh fruits in pan Indian market by sourcing of fruits from farms in Vietnam, South Africa, Greece, Chile etc We significantly bargain in wide portfolio of fruits like Apple, Green Apple, Orange & Mandarin, Pear, Kiwi, Dragon Fruit, etc.
The company's USP is to source fresh fruits from the farm with quality checks to international standard packaging and a quick logistics facility to deliver the finest quality fruits to valued customers. The company has developed the goodwill and brand for quality fruits. The Company has established a brand named "GROWFARMIO"
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