Rajkot, February 2025: Ultracab (India) Ltd has opened its rights issue for subscription from January 28 to February 11, 2025. The company is offering 3.43 crore equity shares at Rs. 14.5 per share, with an entitlement ratio of 9:25.
Key Highlights: (1) Net Profit for FY24: Rs. 598 lakh (up from Rs. 582 lakh in previous year), (2) Revenue for FY24: Rs. 12,439 lakh, (3) Presence in 29 countries with 400+ dealers, (4) Serves 55+ government departments and 150+ corporate groups, (5) Major clients include BHEL, NTPC, Power Grid, Reliance, and Godrej.
Purpose of Rights Issue: The funds will be used for loan repayment, working capital augmentation, and general corporate purposes. Promoters Nitesh Vaghasiya and Pankaj Shingala have committed to subscribing their full entitlement. Investors can participate through BSE, with the last date for on-market renunciation of rights entitlements set for February 5, 2025.