Offer for Right Issue of Equity Shares

Document Summary

DELTA GALAXY ENGINEERING SERVICES LIMITED (formerly known as Delta Galaxy Engineering Services Private Limited) is offering 2,20,22,100 equity shares at ₹92 per share (including a ₹82 premium) to existing shareholders on a 1:1 basis. The record date is January 31, 2025; the issue opens on Saturday, February 08, 2025, and closes on Saturday, February 22, 2025.

General Information:

The registered office is located at 476, Expression Satyasha, Front of Yamaha Showroom, Bailey Road, Sheikhpura (Patna), Phulwari, Patna, Bihar- 800014. The corporate office is at 8A, UGF, Sec- D, PKT-2, Bhawani Kunj, Vasant Kunj, New Delhi-110070. The phone number is +91 7973269395, CIN: U45204BR2011PLC017932 and the email is eramit87@yahoo.in. The company was incorporated on December 27, 2011. Its main business is engineering services in infrastructure and real estate. The company does not have any subsidiaries.

The management comprises Mr. Rohitash Singh (Managing Director), Mr. Shashank Singh (Wholetime Director), Mr. Amit Kumar (Director), Mr. Yogesh Shukla (Additional Director), Mr. Mopuri Krishniah Sateesh, Ms. Vijaya E Shahapurkar, and Mr. Sajal Saxena (Independent Directors), Mr. Jetendra Singh Chahar (Chief Financial Officer), and Ms. Swati Sharma (Company Secretary).

The document lists names, addresses, DIN, and occupations of all directors. The management perceives no specific risk factors currently impacting the company's going concern status, acknowledging potential future external forces. There are no details of default regarding repayment of any amount.

CS Swati Sharma is the Company Secretary and nodal/compliance officer for the Right Issue offer process, reachable at Parvati Bhawan, Shankar Chow, Lalitpur Colony, Lashkar-Gwalior (M.P.)-474001, and via email at swatisharma@deltagalaxy.com. There is no default in annual filing of the company under the Companies Act, 2013.

Particulars of the Offer:

The board resolution approving the offer was passed on January 15, 2025. A general meeting resolution authorizing the offer of securities is not applicable. The record date is January 31, 2025. The securities offered are Equity Shares of Ordinary Equity class, totaling 2,20,22,100 shares. The ratio for right entitlements is 1:1 (one equity share for every equity share held). The offer price is ₹92 per equity share, including a ₹82 premium.

The allotment is proposed to existing shareholders in their current shareholding ratio. Promoters, Directors, and KMPs intend to subscribe only to their existing shareholding entitlements. The allotment will be completed as per the timelines prescribed under the Companies Act, 2013. No change in control is anticipated post-allotment. The offer is valid for 15 days, opening on Saturday, February 08, 2025, and closing on Saturday, February 22, 2025 (inclusive). There are no significant orders impacting the company. Mode of payment includes Cheque (application shall be acknowledged post clearing), Demand Draft, RTGS, and other Bank Transfer. The bank account for crediting rights application money is with HDFC Bank Limited, Gwalior, Madhya Pradesh, A/c No.: 50200066487354, IFSC: HDFC0000192, MICR: 474240002.

Purpose and Shareholder Rights:

The board intends to utilize the proceeds for repayment of loans and/or general business purposes. The fund requirements are internal management estimates and haven't been appraised by external agencies. These may be revised due to uncontrollable external factors.

Equity shareholders have the right to apply in full, in part, with or without renouncing, apply for additional shares based on renouncement by other shareholders, apply for additional shares without renouncement, renounce in favor of another person, or decline the offer. Failure to communicate acceptance, renouncement, or decline will be deemed as declining the offer.

Offer Acceptance and Disposal of Unsubscribed Shares:

To accept, shareholders must submit a duly filled application form with a self-attested PAN copy, Client Master List/CML/CMR, and full share application money with transfer details. Corporate shareholders require a Board Resolution authorizing the investment. The Board is at liberty to allot fewer shares than applied for.

If the application with payment isn't received by the closing date, the offer is deemed declined, and the Board can dispose of the equity shares in a manner not disadvantageous to the company and as permitted by law.

Renunciation, Allotment Basis, and Applicable Law:

The offer allows renunciation of rights. The Board reserves the right to refuse allotment to any renouncee. Allotment will be prioritized to existing shareholders up to their entitlement, then to those applying for additional shares, then to those who received renunciation, and finally to any other person deemed fit by the Board. The offer is governed by Section 62(1)(a) and other applicable provisions of the Companies Act, 2013.

Allotment and Refund Orders & Declaration:

The company will allot shares within the time prescribed under the Companies Act, 2013 and issue share certificates/credit demat accounts within 1 month of allotment of equity shares. Letters of regret and refund orders (if any) will be issued within 15 days from the completion of 60 days of receipt of share application money.

The document includes a warning regarding fictitious applications as per Section 38(1) and Section 447 of the Companies Act, 2013.

The directors declare compliance with the Companies Act, 2013, and confirm that the funds will be used for the stated purposes. They also assert that the information provided is true, correct, complete, and not concealed. The declaration is dated February 04, 2025, and signed by Swati Sharma, Company Secretary, for DELTA GALAXY ENGINEERING SERVICES LIMITED.