Syschem (India) Limited, a prominent player in the field of manufacturing Bulk Drugs, Intermediates, Specialty Chemicals, and offering contract manufacturing services, is gearing up for a Rights Issue in 2023.
Company Background:
Incorporation: Syschem (India) Limited was incorporated in 1993.
Product Portfolio: The company specializes in the manufacturing of a wide range of pharmaceutical products, including Amoxycillin Trihydrate, Ampicillin Trihydrate, Cloxacillin Sodium, Dicloxacillin Sodium, Flucloxacillin Sodium, Oxacillin Sodium, Cefalexin Monohydrate, Cefadroxil Monohydrate, and Cefaclor.
Research-Driven: Syschem (India) is known as one of the few research-driven API manufacturing companies in India, offering customized solutions at a commercial scale.
Clientele: The company serves both domestic and international markets.
Location: Syschem (India) Limited is headquartered in Chandigarh and operates its manufacturing facilities in Kalka, Panchkula (Haryana).
Syschem India Rights Issue 2023 Details:
Issue Open: October 16, 2023 – October 27, 2023.
Security Name: Syschem (India) Limited.
Issue Size (Shares): 7,972,600.
Issue Size (Amount): ₹31.89 Crores.
Issue Price: ₹40 per share.
Face Value: ₹10 per share.
Listing: The shares will be listed on BSE.
Terms of Payment: The full amount of Rs. 40/- per equity share is payable on application.
Syschem India Rights Issue 2023 Important Dates
Last Date to buy shares: September 28, 2023.
Record Date: September 29, 2023.
Bid/Offer Opens On: October 16, 2023.
Renunciation of Rights Entitlements: October 23, 2023.
Bid/Offer Closes On: October 27, 2023.
Deemed Date of Allotment: November 4, 2023.
Credit Date: November 8, 2023.
Listing Date: November 13, 2023.
Financial Information:
Syschem (India) Limited’s financial performance for the period ending July 31, 2023, showed a decrease in revenue by -54.56% and a drop in profit after tax (PAT) by -69.23% compared to March 31, 2023.
Objects of the Issue:
The company intends to utilize the net proceeds from the Rights Issue for the following purposes:
Expansion of the existing manufacturing facility for Amoxicillin and Cephalexin at the unit located in Village Bargodam, Tehsil Kalka, Dist Panchkula, Haryana.
Meeting working capital requirements.
General corporate purposes and issue-related expenses.
Registrar for the Syschem India
Beetal Financial & Computer Services (P) Limited
Phone: +91 11 29961281
Email: [email protected]
Syschem (India) Limited’s Rights Issue in 2023 presents an intriguing opportunity for investors. As a well-established player in the pharmaceutical manufacturing sector, Syschem has a proven track record of delivering Bulk Drugs, Intermediates, Specialty Chemicals, and contract manufacturing services. The company’s commitment to research-driven solutions and its diverse product portfolio have positioned it for growth in both domestic and international markets. Investors considering participation in this Rights Issue should take into account the company’s recent financial performance, which exhibited a decline in revenue and profit after tax. However, the proposed utilization of the funds, including facility expansion and meeting working capital requirements, reflects Syschem’s strategic vision for the future.
Before making any investment decisions, it is imperative to conduct due diligence, assess your own financial objectives and risk tolerance, and seek advice from a financial advisor if necessary. The Rights Issue opens on October 16, 2023, and closes on October 27, 2023, with the listing set for November 13, 2023.
FAQs
What is Syschem (India) Limited’s primary business?
Syschem (India) Limited is engaged in the manufacturing of Bulk Drugs, Intermediates, Specialty Chemicals, and provides contract manufacturing services in the pharmaceutical sector.
When does the Syschem India Rights Issue 2023 open and close?
The Rights Issue opens on October 16, 2023, and closes on October 27, 2023.
What is the issue price of Syschem (India) Limited’s Rights Issue?
The issue price is ₹40 per share.
Where will the shares be listed?
Listed on the Bombay Stock Exchange
What are the key objects of the Rights Issue?
The net proceeds from the issue will be used for Expansion of the existing manufacturing facility for Amoxicillin and Cephalexin. Meeting working capital requirements. General corporate purposes and issue-related expenses.
How has Syschem’s financial performance been recently?
Syschem (India) Limited’s financial performance for the period ending July 31, 2023, showed a decrease in revenue by -54.56% and a drop in profit after tax (PAT) by -69.23% compared to March 31, 2023.
Who is the Registrar for the Syschem India Rights Issue 2023?
Beetal Financial & Computer Services (P) Limited is the Registrar for the Rights Issue.
Phone: +91 11 29961281
Email: [email protected]
