Dhanlaxmi Bank Limited has finalized its right issue for 14,16,86,767 equity shares worth ₹297.54 crores. This right issue will open for subscription on 8 January, 2025, and close on 28 January, 2025. Shareholders, who are holding equity shares of Dhanlaxmi Bank Limited as of 27 December, 2024 (Record Date), will be eligible to receive the Right Entitlement (REs). These REs can be traded in the market or used to apply for additional equity shares of the company. The entitlement ratio for this issue has been set at 14:25, which means that 14 right equity shares for every 25 fully paid-up equity shares held on the record date. For more detailed information about Dhanlaxmi Bank Limited right issue, please read the
Dhanlaxmi Bank started in 1927 in Thrissur, Kerala, to support social causes. It became a Scheduled Commercial Bank in 1977. Today, it has 560 outlets, including 261 branches and 282 ATMs, across 14 states and 1 union territory. The bank combines tradition with modern technology to serve people of all ages. With a focus on care and strong customer relationships, its vision is “Banking on Relationships forever.”
Dhanlaxmi Bank Right Issue Important Details
| Details | Information |
|---|---|
| Right Issue Opening Date | 8 January, 2025 |
| Right Issue Closing Date | 28 January, 2025 |
| Type of Securities Proposed | Fully Paid-up Equity Shares |
| Last Date for On Market Renunciation of Right Entitlements | 23 January, 2025 |
| Net Issue Size Offered (In Terms of Shares) | 14,16,86,767 fully paid-up equity shares |
| Net Issue Size (Amount) | ₹297.54 Crores |
| Issue Type | Rights Issue |
| Right Issue Price | ₹21 Per Equity Share |
| Face Value | ₹10 Per Equity Share |
| Listing at | BSE, NSE |
| Terms of Payment | Issue Price payable on Application |
| Right Issue Entitlement | 14 Rights Equity Share(s) for every 25 fully paid-up Equity Shares (14:25) |
| Letter of Offer | * |
| Application Form | * |
Dhanlaxmi BankRight Issue Date Schedule
| Details | Information |
|---|---|
| Last Date to Buy Shares | 26 December, 2024 |
| Right Issue Record Date | 27 December, 2024 |
| Right Entitlement Credit Date | TBD |
| Offer Opening Date | 8 January, 2025 |
| On Market Renunciation of Right Entitlements | 23 January, 2025 |
| Right Issue Offer Close Date | 28 January, 2025 |
| Finalization of Basis of Allotment | TBD |
| Allotment Date of Right Issue | TBD |
| Date of Credit of Right Issue | TBD |
| Listing Date | TBD |
Dhanlaxmi Bank Right Issue Financials
| Period | FY 24 (₹ Cr.) | FY 23 (₹ Cr.) | FY 22 (₹ Cr.) |
|---|---|---|---|
| Total Assets | 15,961.89 | 15,132.13 | 13,795.76 |
| Total Revenue | 1,359.55 | 1,145.75 | 1,085.76 |
| Expenses | 13,017.28 | 10,963.92 | 10,498.52 |
| Profit After Tax | -7,30,974.6 | -776.42 | -800.84 |
| Total Reserves & Surplus | 776.75 | 708.14 | 646.99 |
Net Cash Flow Overview
| Net Cash Flow | FY24 (₹ Cr.) | FY23 (₹ Cr.) | FY22 (₹ Cr.) |
|---|---|---|---|
| Cash From Operating Activities | 17 | 216 | 139 |
| Cash From Investing Activities | 111 | -106 | -388 |
| Cash From Financing Activities | 0 | 0 | 0 |
Key Objectives of this Right Issue
- Raise ₹297.54 crores through the right issue.
- Strengthen the Bank’s capital base.
- Meet RBI’s capital adequacy requirements.
- Support growth and operational needs.
Frequently Asked Questions
- What is the Dhanlaxmi Bank Right Issue?
The Dhanlaxmi Bank Right Issue allows existing shareholders who are holding the equity shares of this company, to purchase additional equity shares at a discounted price.
2. What is the total Amount of this right issue of Dhanlaxmi Bank?
The total amount of this right issue is 97.54 crores.
3. What is the entitlement ratio for the Right Issue?
The entitlement ratio is 14:25, that means 14 right shares for every 25 fully paid-up equity shares.
4. What is the issue price for the Right Issue?
The issue price is ₹21 per equity share.
5. Who is eligible for the Right Issue?
Shareholders holding shares of Dhanlaxmi Bank as of 27 December, 2024, which is the Record Date to be eligible for this right issue.
6. What are Right Entitlements (REs)?
REs are rights offered to eligible shareholders. With REs, they will be able to apply for additional shares or sell their entitlements in the market.
7. When will the Right Issue be open for subscription?
The issue will be open from 8 January, 2025, to 28 January, 2025.
8. Can Right Entitlements (REs) be traded?
Yes, REs can be sold or bought in the market during the trading Days.
9. What happens if someone do not use the Right Entitlements?
If REs are not used or sold, they will lapse after the issue closes.
10. what are the objectives of theis right issue?
The funds will be used to strengthen the Bank’s capital base, meet regulatory requirements, and support its operational growth.
Note: This article is based on the information received from the company’s official documents, including the Letter of Offer.
Looking for related articles? Check out our recent posts on other Main-board IPO & SME IPOs for the latest market updates. Get more information about this right issue from the Letter of Offer
Ready to apply? Start your IPO application here.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in a Right Issue, IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
“If this article was useful to you, feel free to share it with others who might find it helpful. Your feedback is important, so drop your questions or thoughts in the comments—we’d love to hear from you!”
Don’t miss out on the latest IPOs – Click here to Find Upcoming IPOs.
Looking for the latest updates on upcoming IPOs? Explore detailed insights, expert reviews, and key information on these trending IPOs:
Carraro India Ltd IPO 2024 Price, GMP & Allotment – A Comprehensive Report
Solar91 Cleantech IPO 2024 Price, GMP, Dates & Allotment – An Exclusive Report
Leave a comment