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Press Release

Asian Granito India Ltd’s Rs. 441 Crores Rights Issue opens for subscription

Published

3 years ago

on

Mr Kamlesh Patel, CMD and Mr Mukesh Patel, MD, Asian Granito India Ltd

Trading of Rights Entitlements will begin from April 25 to May 5 on BSE and NSE;

Company’s Rights Issue opens on April 25th and close on May 10th

Highlights:-

  • Funds raised through the Issue shall be utilised towards the Company’s Mega Expansion Plans in Value added Luxury Surfaces and Bathware Segments, setting up one of the India’s largest Display Centres, working capital requirements of the above new projects and general corporate purposes
  • The Rights Entitlement Ratio for the proposed Rights Issue is 37:30 (37 Rights Equity Shares of INR 10 each for every 30 equity shares of INR 10 each held by the equity shareholders as on the Record Date. The company to offer 7 Crores Equity Shares through this Rights Issue
  • Promoter Group shareholders have confirmed their participation of upto 28.99% of the total Issue Size i.e. upto 100% of their current shareholding, amounting INR 128 Crores
  • Post Completion of the Issue, total outstanding Equity Shares of the Company to increase to 12.67 crores from 5.67 crores shares.

Ahmedabad (Gujarat) [India], April 26: Rights issue of Asian Granito India Limited (AGL), one of the largest Luxury Surfaces and Bathware Solutions brands in the country is open for subscription for its shareholders. The issue opens on April 25 and will close on May 10. Company is raising Rs. 441 crores through the rights issue to fund its Mega Expansion Plans Value Added Luxury Surfaces & Bathware Segments including GVT Tiles, Sanitaryware and SPC Flooring etc. Equity Shares under the Rights Issue are offered at a price of INR 63 per Share i.e. 24% discount to the closing share price of Rs. 82.9 per share on April 22, 2022 on NSE. Trading of the Rights Entitlements allotted to eligible shareholders is available on BSE and NSE between April 25 to May 5 (for online) and till May 10 (offline).

The Company will issue upto 6,99,93,682 fully paid-up Equity Shares of face value of INR 10 each for cash at a price of INR 63 per Equity Share (including a premium of INR 53 per Equity Share) aggregating INR 440.96 crore on a rights basis to eligible equity shareholders in the ratio of 37:30 (37 Equity Shares for every 30 Equity shares fully paid-up Equity Share held by the Eligible Equity Shareholders). Company had fixed April 12, 2022 as record date for the purpose of determining equity shareholders entitled to receive the rights entitlement in the rights issue. Last date for On-market Renunciation of Rights Entitlements is May 5, 2022.

Proceeds of the Rights issue will be utilised to set up three new state-of-the-art manufacturing facilities at Morbi, Gujarat in Value Added Luxury Surfaces & Bathware Segments including GVT Tiles, Sanitaryware and SPC Flooring, setting up one of the India’s largest Display Centre, funding the working capital requirements of the above new projects and general corporate purposes.

The Promoter & Promoter Group shareholders have confirmed their participation of up to 28.99% shareholding (i.e. upto 100% of their current shareholding) amounting to Rs. 128 crores. Promoter and Promoter Group shareholders have also indicated that in case the Issue is undersubscribed, they reserve the right to subscribe to part or the whole amount of the unsubscribed portion, subject to applicable laws. Post completion of the Issue, total outstanding shares of the Company would increase to 12,67,45,316 equity shares from 5,67,51,634 equity shares as on March 31, 2022. Pantomath Capital Advisors Pvt. Ltd. is the sole lead managers to the rights issue.

Commenting on the development, Mr. Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd said, “Morbi is India’s hub for Ceramic Tiles & Sanitaryware and accounts for more than 80% of the country’s total production, housing over 1,100 manufacturing units. AGL has lined up major expansion plans in Morbi region in the state of Gujarat, keeping in mind strategic locational advantages, proximity to the raw material sources, easy & quick availability of manpower, proximity to some of the country’s largest ports, among others. With commercialisation of the proposed plans, AGL is expected to strengthen its position as an Integrated Luxury Surfaces and Bathware Solutions Brand and up the Group’s margin profile in near to medium term.”

New entities incorporated for Expansion:-

  Future Ceramic Pvt Ltd FCPL (wholly owned subsidiary of AGL) to manufacture Value Added Large Format Glazed Vitrified Tiles (GVT) in 1200×1200 mm, 1200×1800 mm, 1200×2400 mm, 800×1600 mm and 800×2400 mm formats. To capture the vast opportunities in the GVT space, FCPL is setting up a new manufacturing facility at Morbi, Gujarat with an installed capacity of 5.94 million sq. mtrs. per annum. Total estimated cost for setting up the new manufacturing unit in FCPL is around INR 174 crores.

  AGL Sanitaryware Pvt Ltd ASWPL (wholly owned subsidiary of AGL) plans to establish in-house manufacturing unit of Sanitaryware products. Currently, AGL deals in a range of Sanitaryware products, manufactured through third party manufacturers and imported from outside India, and are marketed under AGL Brand. To strengthen and               scale up the Sanitaryware segment, the Group is setting up manufacturing facility at Morbi, with an installed capacity of 0.66 million pieces per annum. Estimated cost for setting up the proposed new unit is around INR 46 crores.

  AGL Surfaces Pvt Ltd ASFPL (a wholly owned subsidiary of AGL) to manufacture innovative new age Stone Plastic Composite (SPC) flooring. ASFPL is incorporated as part of the Company’s strategy to expand product portfolio and presence in high growth oriented export markets through value added offerings. The manufacturing facility is proposed to be set up at Morbi with an installed capacity of 2.97 million sq. mtrs. of flooring per annum. Total estimated cost for setting up the new manufacturing unit in ASFPL is around INR 33 crores.

The Company has estimated that total working capital requirement for all the New Projects in the first year of commercial operations in 2023-24 will be around INR 80 crores, for which company is planning to utilise around INR 37 crores out of Rights Issue Proceeds.

The Company is also setting up one of the World’s largest display centre at India’s Ceramic Tiles hub Morbi, Gujarat to showcase AGL Group’s entire product range under single roof i.e. Tiles, Sanitaryware,  Bathware, Quartz & Engineered Marble, SPC, etc. The five storey display centre is conceptualised in 1.5 lakh square feet of area and aims to showcase AGL Group’s production, technological excellence and best in class sourcing caliber at single place and is also expected to enhance Company’s brand and reach. Total estimated cost for setting up the Display Centre is around INR 40 crores. The Company currently exports to more than 100 countries and planning to expand to 120 plus countries. Company targets to increase its retail touch points to over 10,000, expand exclusive showrooms to over 500.

The Net Proceeds of the Rights Issue shall be used for the Proposed Projects. Additionally, the Company also proposes to deploy the proceeds of the Rights Issue to meet general corporate purposes including other strategic initiatives, debt reduction in group, brand building and strengthening, marketing activities, and ongoing general corporate exigencies.

Highlights of Key Strategic Initiatives and Milestones achieved in FY22:-

 ICRA upgrades rating of Asian Granito India Ltd to “A Positive with a Stable Outlook”.

 Exited its non-core investment in Astron Paper Board Mill Ltd with a LTCG free profit of INR 38 crores to focus on core business.

  Crystal Ceramic Industries Private Limited (subsidiary of AGL) completed a major expansion of 12,000 sq. mtrs. per day Glazed Vitrified Tiles with investment of INR 25 crores at Mehsana, Gujarat in June 2021, taking its total installed capacity to 36,000 sq. mtrs. per day.

  The Company has entered into a manufacturing outsourcing agreement with its associate concern M/s Adicon Ceramica LLP (‘’Adicon”). Adicon has started manufacturing large format GVT Slabs of 1600×3200 mm size using ultra-modern fully automated Italian technology with an installed capacity of 15,000 sq. mtrs. per day. AGL will now start marketing the product under the “AGL” Brand.

  In a move to create living and business spaces safer, beautiful and hygienic than ever in Covid era, the Company has launched ‘AGL Tuffguard Anti-Bacterial Tile’ and ‘Touch Free’ range of bathware.


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Press Release

Top 5 sweepers the world of cricket will never forget

In cricket, sweepers make or break games. While we tend to drool over the attacking phase of the game, sweepers are at the heart of a team’s solidity, especially if you don’t want to be helplessly conceding fours.

Published

2 years ago

on

January 19, 2023

By

cricket-betting

In cricket, sweepers make or break games. While we tend to drool over the attacking phase of the game, sweepers are at the heart of a team’s solidity, especially if you don’t want to be helplessly conceding fours.

Notably, when the biggest cricket teams play, top bookmakers like Betway (available after you download the Betway app and install it) have teams with strong sweepers as favorites to win.

Indeed, the lovable game of cricket has seen many eminent sweepers come and go. But which sweepers have eternally cemented their legacy and stamped their names in the sands of time?

1. Andy Flower

Andy Flower was one of the most notable names in Zimbabwean cricket. His batting skills were second to none, and he’s statistically the greatest batsman in his country’s history. One of his most prominent attributes is the use of the reverse sweep.

In 2001, Andy was ranked as the best batsman in the world. He was a wicketkeeper for the Zimbabwe national team for a decade. Andy could bat on any surface irrespective of the speed, and only the most skilled bowlers stood a chance against him. Indian fans would best commemorate him for his heroics in the 1999 World Cup.

2. Mushfiqur Rahim

Spinners are renowned for using their rotation technique to get the batsman out. Well, as long as it isn’t Mushfiqur Rahim. The Bangladeshi will counter them with one of the most notorious shots in cricket, the sweep. He’s a master of the orthodox and slog sweep.

Aside from the sweep, he had many other batting techniques in his arsenal, and he’s one of his country’s best batters of all time. 

Rahim made his international debut, lining up against England at the notable age of 16, and has been shaping his batting skills since then. One of the most prominent periods of his career was in the 2010 test against India, where he scored the quickest century by a Bangladeshi.

He holds many records in his country, such as being the only Bangladeshi player to win 150 international matches. Mushfiqur is the only batsman in Test cricket to score double hundreds. He’s also the highest individual scorer in Test cricket for his country.

3. Sarfaraz Ahmed

Sarfaraz Ahmed hasn’t done much to warrant himself as one of cricket’s all-time greats, but he did just enough to be known as a formidable sweeper. He could time the bowler’s throws and deliver a sweep that slices through the wind. Sarfaraz is a right-handed wicketkeeper batsman. 

He was central to the conquests of the Pakistani team that went home with the ICC World Twenty20 in India. They defeated the home country, their arch-rival, to lift the trophy. Sarafraz became the team’s ODI captain soon after and its Test captain later.

He led the team to the Champion trophy in 2017 and is the youngest Pakistani player to have received the Sitara-i-Imtiaz. The Sitara-i-Imtiaz is the third highest civilian honor in his country, and only notable individuals receive it. Sarfaraz Ahmed played 198 test crickets and 156 ODI matches in his career, scoring over 8000 runs.

4. AB De Villers

AB De Villers represents South Africa at international levels. He played at the top level for 15 years and is unarguably one of his country’s finest cricket talents. Therefore, it’s no surprise that he won the ICC ODI Player of the Year award three times.

He’s an outstanding batman who mastered the sweep-shot technique. Villers initially played as a wicket-keeper-batsman before becoming a prominent batsman, playing mostly in the middle order. 

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His nicknames were Mr.360 degree due to his all-around ability and Superman because of his acrobatic prowess.

He can hit the defensive sweep, the reverse sweep, the conventional sweep, and many other shot types you could imagine with insane accuracy. ABD is also able to play different shot types at will. His unpredictability with batting is why he’s many bowlers desist his presence.

AB De Villers has notched more than 8,000 runs in ODI and Test cricket, averaging fifty per game. One of his most famous nicknames is also the “Lionel Messi” of cricket.

5. Sachin Tendulkar

Sachin Tendulkar has climbed the highest stage and reached the peak of cricket. Calling him one of the best batters in history would be an understatement; he’s unarguably one of the greatest cricketers ever. 

With over 33,000 runs in both ODI and test cricket, he’s the cricketer with the most runs in history.

His most preferred variant of the sweep shot is the paddle, and when a master does it, it feels different. Combined with other shot types in his repertoire, he wreaked havoc on teams around the globe. He was also a fine bowler and turned up whenever India needed him.

Indian cricket fans adore him and nickname him “The God of Cricket.” Wisden included him in an all-time cricket XI in 2013 and is a member of the ICC Cricket hall of fame. He played his last Test and cricket match in 2013.

Conclusion

The sweep shot, if executed perfectly, is one of the most effective shots in cricket, and mastering it requires repetition. 

Many players are renowned for their use of the technique, but some edge out others. These five players are the best five sweepers of all time.

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Press Release

Rating of Best Betting Sites in Bangladesh 

Published

2 years ago

on

January 18, 2023

By

cricket-betting

Online betting sites are very popular today. A long time ago many bookmakers began to give up their land-based gambling outlets. It is much easier and more convenient for everyone to arrange their services on the Internet through multifunctional and accessible sites. To date, there are already a huge number of bookmakers working online. And in spite of this, new ones are constantly appearing. Many betting companies accept players from Bangladesh and even translate the interface of their site into Bengali. In addition to this, bettors can choose BDT as the currency of their account. This helps avoid conversion difficulties. Such excellent conditions could not leave these sites without attention. There are already quite a lot of them and often beginners have the question of which bookmaker to turn to. In this article you will get the answer. You shall get acquainted with the best online betting sites in Bangladesh. 

Factors for choosing a betting site

In order to choose a good betting site you need to consider a few basic factors. These are the general criteria used by experienced bettors:

  • Reliability. Make sure it’s safe for you to use the site;
  • Bonuses and promotions. Whether you have a chance to win generous rewards;
  • Customer service. Whether you can get quality help when you need it;
  • Gambling options. Does the bookmaker offer a wide range of betting options on its website;
  • User interface. Whether the site is simple and easy to navigate.

Make your choice based on these points. You can your own analysis and study all aspects of betting sites. True, it will not take much time. Therefore, this rating was prepared especially for you. It is relevant and independent.

Top sites in Bangladesh

In this ranking you will find only legal and safe websites for users from Bangladesh. Each company has positive reviews from players, Bengali interface language, as well as BDT as game account currency. You can read more about the bookmakers below:

  • Parimatch. Legitimate bookmaker offers bets on 30 sports, live with online broadcasts, convenient methods of deposits and payouts. In the parameters of the site users can set their favorite transaction amounts. Set up actions when changing quotes, choose the type of design, set the option “1-click betting”;
  • Mostbet. The detailed list of popular sports, a lot of offers on e-sports and profitable bonus programs. The site can also play casino, watch online broadcasts, register and verify, make cash transactions;
  • Linebet. At the bookmaker you can make bets on 30 sports. Of the rare game disciplines on the site are billiards, water polo, motorcycle racing, squash, floorball and others. The line covers most professional leagues, some regional and women’s championships;
  • 1xbet. On the official site of the bookmaker’s company users place bets, play casinos, make transactions, participate in the bonus program, ask questions to the support service, register and authenticate themselves;
  • Betvisa. In the live-roll you can find major and minor marquees, offers on game segments and combined outcomes. Authorized users watch live video broadcasts, guests of the site may graphic visualizations of current meetings;
  • Dafabet. On the main page of the official site players will see a line of bets on important current and upcoming matches, sports, search bar, banners of bonus and sections. The bookmaker offers odds below the market average. The average margin is 4-6%. The level of quotes depends on the discipline, competition and market;
  • Bet365. Website takes bets on 40 sports with an average margin of 3-5%. The bookmaker offers high odds on top leagues, easy registration and identification, prompt support service;
  • 22Bet. Users of the new bookmaker’s office make bets on 30 game disciplines with a detailed list of important matches, participate in the incentive program, and conduct financial transactions. In live, players wager on most current events, including women’s and amateur championship matches. Depending on the time of day and day of week, there are up to 10-15 game disciplines in live;
  • Betwinner. On the site, the bookmaker offers a detailed description of cricket, soccer, hockey, tennis, basketball games. In the listings you can find proposals for major and double outcomes, results by time periods, totals and handicaps, performance, personal performance players;
  • Melbet. Reviews about the bookmaker on the Net are mostly positive. Users write about a wide line, competitive quotes, regular promotions and fast payouts.

This is a brief description of the 10 best sites in Bangladesh. You can choose any of them and get quality services for betting, and therefore earning real money.

Registration on the site of the Bookmaker

Regardless of which site you choose to bet, the first thing you have to do is to create an account. Without it you will not be able to make a wager and earn real money. Since the process is basically the same on all betting sites, the following universal instruction was compiled:

  1. Go to the official site of the bookmaker;
  2. In the top line on the right or left corner you will see a button to register;
  3. Next, a window shall open in front of you, in which you need to fill in the blocks;
  4. You must come up with a username and password;
  5. Then enter your phone number or email;
  6. Choose the currency of the account;
  7. Read the terms and conditions of using the services of the company;
  8. Confirm your age of majority;
  9. Click on the button to create an account.

Only adult residents of Bangladesh can register and bet. Each user must verify their details through the verification process. So the company management can make sure that you are 18 years old and you may gamble according to the laws of Bangladesh.

Verification on the bookmaker’s website

This process is necessary so that you can easily make bets in the future. In general, many professional bettors advise to verify immediately after registration. Then you will avoid problems with the withdrawal of winnings. In order to verify the data you shall need:

  1. Open the official website of the bookmaker;
  2. Login to your personal account;
  3. In your profile, click on the verify button;
  4. Then you will have to specify your personal data;
  5. And then attach a photo of the document. This may be a passport or driver’s license;
  6. Send the form to verify the account to the specialists of the company and wait for an answer.

Usually the procedure takes about 24 hours. Provide the correct data. If they do not match the information in your document, the specialists will reject your application and may freeze the account.

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Press Release

A quick summary of the Pin-Up casino in India.

Published

2 years ago

on

January 12, 2023

By

online game

Find out what the online casino phenomenon is all about. Why are such gaming portals in great demand among different categories of players? How to win real money at Pin Up online casino?

How to Win at Pin-Up Casino: Tips for Beginners

Any online casino in India is a relatively risky virtual gambling platform where anything can happen. Although it attracts the idea of ​​winning big money, you should not forget that this is a game of chance, in which you can lose. Luckily, there are some tips on how to win at Pin-Up Casino, one of the most popular casinos in India, that will significantly increase your chances of winning.

Features of the game on the site of the online casino

Before you begin playing for real cash, it is essential to carefully consider the choice of a casino and read the conditions under which it operates. Now on the Internet, you can find many online casinos that offer players a wide range of privileges and many types of gambling for every taste. But not all casinos are safe. Here it is essential to pay attention to whether the gaming site is licensed. For example, a fairly popular portal in India, the Pin Up casino, has a special license, which confirms that its activities do not contradict the country’s current legislation. What does it give the players? It’s simple: when playing in such a casino, you don’t have to worry that something will happen to your account, and you will lose all your money.

Online Indian casino, like all other gaming portals, allows players to gamble for real money. Unlike real establishments, the odds of succeeding here are much higher. This is because many games need to be regulated by the casino itself. That is, the game portal cannot influence the result. It all depends solely on your luck and skill in playing online slot machine.

Tips on how to win at the Pin Up

Having decided on a reliable and safe casino, you can start playing. Here are some tips to help you increase your chances of winning:

  1. Bet on the most profitable games. Keep in mind that casinos always have a fixed or variable percentage of profits, so they always win. Thus, to win, it is important to choose those games in which the online casino edge for money is lower.
  2. Before placing bets, learn how to play. Some casinos usually offer free practices that allow players to practice different betting strategies depending on their results.
  3. Accept the benefit of promotional and bonus offers from casinos. Many gambling establishments offer a casino registration bonus. It can be free spins, free spins, or other chips. Using such bonuses, you do not lose anything.
  4. Bet only on what you win. This will allow you to manage your funds perfectly. For example, if you bet $100 and win $100, then play only for this amount, as you can be guaranteed to get 100% profit in casino slots.
  5. Try to bet small. Dosing the number of your bets guarantees you more gaming sessions and less investment.

Do not forget that gambling can harm a person, so try to control yourself or set a fixed budget for yourself. Self-control is the key to a successful game.

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