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SAR Televenture Limited, a leading player in telecommunication infrastructure, has announced its follow-on public offer (FPO) with a price band set at ₹200 to ₹210 per equity share. This move comes as part of their strategy to raise ₹450 crore to fuel their ambitious expansion plans. Here’s everything you need to know about SAR Televenture’s upcoming FPO and rights issue.
Understanding SAR Televenture FPO
What is SAR Televenture FPO?
SAR Televenture has decided to issue new shares to the public, priced between ₹200 and ₹210 per share, aiming to raise ₹450 crore in total. This offering includes both an FPO of ₹150 crore and a rights issue of ₹300 crore.
Key Dates to Remember
Opening and Closing Dates
The FPO is scheduled to open for subscription on July 15, 2024, and will close on July 22, 2024.
Record Date
The record date for the rights issue is July 9, 2024.
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Allocation and Utilization of Funds
Allocation of Rights Shares
Each existing equity shareholder will receive one rights share for every share held.
Utilization of Funds
SAR Televenture plans to utilize the funds raised to expand its infrastructure significantly. This includes setting up Fiber-to-the-Home (FTTH) network solutions for 300,000 homes and building 1,000 telecom towers supporting 4G and 5G technologies. Additionally, funds will be allocated towards working capital requirements.
Financial Details
Issue Details
The rights issue will comprise 1.5 crore fully paid-up equity shares priced at ₹200 per share.
Market Performance
As of July 4, 2024, SAR Televenture’s market value stands at ₹403.43 crore, with shares closing at ₹269.25, reflecting a 1.39% increase from the previous day’s close.
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Conclusion
SAR Televenture FPO with a price band of ₹200-210 per share presents an opportunity for investors to participate in the company’s growth journey. By investing in this offering, shareholders can contribute to the expansion of telecommunications infrastructure across India.
FAQs
How can I participate in SAR Televenture FPO?
To participate, you need to have a demat account and ensure your shares are eligible by the record date.
What are the benefits of SAR Televenture’s rights issue?
The rights issue allows existing shareholders to purchase additional shares at a discounted rate.
What happens if I don’t subscribe to SAR Televenture’s rights issue?
If you choose not to subscribe, your rights will expire worthless.
When will SAR Televenture use the funds raised from the FPO?
The funds will be used primarily for expanding their FTTH network and building new telecom towers.
Where can I find more details about SAR Televenture’s financial performance?
You can visit SAR Televenture’s investor relations page or refer to their latest financial reports.
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