Annvrridhhi Ventures Limited , formerly known as J. Taparia Projects Limited, has made significant financial moves to strengthen its capital base and operational capabilities. The company's Board of Directors has approved two major decisions: a rights issue of partly paid-up equity shares and a short-term working capital loan facility.

Rights Issue Details

The company has approved a rights issue of up to 3.78 crore partly paid-up equity shares, with a face value of ₹10 each. The total aggregation of the issue amounts to ₹37.8 crore. Here are the key details of the rights issue:

The rights issue aims to raise ₹9.45 crore initially, considering the amount payable on application (₹2.50 per share), assuming full subscription.

Working Capital Loan

In addition to the rights issue, Annvrridhhi Ventures has secured approval for a short-term working capital loan facility of ₹12.75 crore from State Bank of India. The loan is intended to meet the company's working capital requirements. The security for this loan includes:

1. Personal guarantees from promoters and family members
2. Mortgage of immovable properties owned by various family members
3. Hypothecation of present and future assets including raw materials, stock, and receivables

Impact on Share Structure

The rights issue, if fully subscribed, will significantly alter the company's share structure:

Investor Considerations

Investors should note that the rights entitlements will be credited to eligible shareholders' demat accounts prior to the issue opening date. The company has obtained the ISIN: INE075K20021 for the rights entitlements and ISIN: IN9075K01011 for the partly paid-up equity shares to be issued.

These corporate actions demonstrate Annvrridhhi Ventures' efforts to bolster its financial position and provide growth capital. Shareholders and potential investors should carefully consider the terms of the rights issue and the company's plans for utilizing the raised funds before making investment decisions.

Annvrridhhi Ventures Limited (formerly J. Taparia Projects Limited) has received a significant boost to its capital raising plans. The company announced that it has secured in-principle approval from BSE Limited for a proposed rights issue of partly paid-up equity shares.

Key Details of the Rights Issue

Regulatory Compliance

The company made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed entities to disclose material events or information to stock exchanges.

Company's Response

Sakina Lokhandwala, the Company Secretary and Compliance Officer of Annvrridhhi Ventures Limited, confirmed the receipt of the in-principle approval letter from BSE Limited. The company has duly informed the stock exchange about this development, ensuring transparency with its stakeholders.

Implications for Investors

A rights issue allows existing shareholders to purchase additional shares at a discounted price, potentially increasing their stake in the company. For Annvrridhhi Ventures, this approval paves the way for raising capital up to ₹38.00 crores, which could be used for various corporate purposes such as expansion, debt reduction, or working capital requirements.

Investors and market participants will be keenly watching for further details about the rights issue, including the price, ratio, and record date, which the company is expected to announce in due course.

This corporate action marks a significant step for Annvrridhhi Ventures Limited in its capital raising efforts, potentially impacting its financial structure and future growth prospects.