VMPL
Ahmedabad (Gujarat) [India], February 5: IEL Restricted (previously Indian Extractions Restricted) (BSE: 524614, Image – INDXTRA) has efficiently opened its rights concern on February 4, 2025, receiving an excellent response from buyers. The problem will shut on February 21, 2025, with the report date set as January 17, 2025. Non-existing shareholders can take part by buying Rights Renunciations (REs), which can be accessible from February 4, 2025, to February 17, 2025.
The rights concern contains 10,01,28,990 fairness shares at Rs4.45 per share, aggregating to Rs44.56 Crores. Eligible shareholders are entitled to a few rights shares for each one fully-paid fairness share held as of the report date (3:1 ratio). Moreover, non-existing shareholders can take part by buying the Rights Entitlements (REs), which can be accessible for buying and selling from February 17, 2025.
About IEL Restricted
Established in 1956 and headquartered in Ahmedabad, Gujarat, IEL Restricted is a number one participant in chemical buying and selling, commodity exports, and advertising and marketing assist companies. Over time, the corporate has strategically expanded into warehousing and logistics, reinforcing its dedication to progress and diversification.
As of January 2025, IEL Restricted holds a market capitalization of Rs22.7 Crores. For the monetary yr ending September 2024, the corporate reported a revenue of Rs0.13 Crores on a complete earnings of Rs0.22 Crores, showcasing resilience and flexibility in a aggressive market.
Utilization of Funds
The proceeds from the rights concern can be allotted to:
1. Acquisition of land for warehouse growth.
2. Development of warehouses to broaden operations.
3. Common company functions.
4. Overlaying issue-related bills.
Strategic Growth in Warehousing & Logistics
IEL Restricted lately acquired 29,598.89 sq. meters of land in Village Neeva, Sarojini Nagar, District Lucknow, at a price of Rs11.80 Crores, marking the corporate’s entry into warehousing and logistics. This initiative aligns with IEL’s broader imaginative and prescient of turning into a big participant in India’s rising infrastructure and logistics sector. The corporate can be exploring further land acquisitions in strategic areas to additional broaden its warehousing footprint.
Management’s Imaginative and prescient
Commenting on the enlargement, the corporate’s management said:
“Our foray into warehousing and logistics underscores our dedication to supporting India’s infrastructure progress and assembly market calls for. The Lucknow mission is the primary of many milestones, positioning IEL Restricted as a key participant on this evolving sector.”
About IEL Restricted
Listed on BSE, IEL Restricted has a wealthy legacy in chemical manufacturing, exports, and buying and selling. Because it pivots in direction of warehousing and logistics, the corporate goals to redefine itself as a multi-faceted enterprise contributing to India’s financial growth.
For media inquiries, please contact:
Company Communications Crew
IEL Restricted
Electronic mail: information@ielimited.com
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