Key Quantitative Figures

  • Total Issue Size: Up to 33,18,503 partly-paid equity shares
  • Face Value: ₹10 per share
  • Issue Price: ₹90 per share (₹10 face value + ₹80 premium)
  • Total Proceeds: ₹29.87 crore (₹2,986.65 lakh)
  • Rights Ratio: 10 rights shares for every 131 fully-paid shares held
  • Record Date: October 30, 2026
  • Payment Schedule: ₹54 (60%) on application, ₹36 (40%) on subsequent call(s)

Issue Schedule

  • Last Date for Credit of Rights Entitlements: November 2, 2026
  • Issue Opening Date: November 6, 2026
  • Last Date for On-Market Renunciation: November 12, 2026
  • Last Date for Off-Market Renunciation: November 16, 2026
  • Issue Closing Date: November 17, 2026
  • Finalization of Basis of Allotment: November 18, 2026 (on or about)
  • Date of Allotment: November 18, 2026 (on or about)
  • Date of Credit of Rights Equity Shares: November 19, 2026 (on or about)
  • Date of Listing: November 19, 2026 (on or about)

Parties Involved

  • Registrar to the Issue: Alankit Assignments Limited
  • Banker to the Issue: HDFC Bank Limited
  • Monitoring Agency: CARE Ratings Limited
  • Designated Stock Exchange: BSE Limited
  • Statutory Auditors: S S Kothari Mehta & Co LLP

Objects of the Issue

Net proceeds of ₹29.51 crore (after estimated issue expenses of ₹35.84 lakh) will be utilized as follows:

1. Adjustment of Unsecured Loans of Promoter: ₹11.60 crore (39.32%)

  • To adjust outstanding loans from promoter Gaurav Sekhri through conversion to equity

2. Investment in Wholly Owned Subsidiary (Fratelli Wines Private Limited): ₹10.53 crore (35.69%)

  • Towards capital expenditure for winery operations: ₹1.89 crore
  • To reduce current liabilities by repaying trade payables: ₹8.64 crore

3. General Corporate Purposes: ₹7.38 crore (25.00%)

Capital Structure Impact

  • Pre-Issue Capital: 4,34,72,394 fully paid-up equity shares of ₹10 each (₹43.47 crore)
  • Post-Issue Capital: 4,67,90,897 equity shares (including 33,18,503 partly-paid rights shares)
  • Securities Premium Account: Increase from ₹249.60 crore to ₹276.14 crore (including premium from rights issue)
  • Promoter Holding: No change in control; acquisition eligible for exemption from open offer requirements

Financial Impact

  • Estimated Issue Expenses: ₹35.84 lakh (1.20% of issue size)
  • Bridge Financing: None raised
  • Interim Use of Funds: To be deposited with scheduled commercial banks pending utilization

Promoter Participation

  • Promoter Gaurav Sekhri will subscribe to full entitlement and renounced shares from promoter group
  • Other promoter group members will renounce their entitlements in favor of Gaurav Sekhri
  • Specific investor(s) may be allotted unsubscribed portion, names to be disclosed two days prior to issue opening

Risk Factors Disclosed

Document includes 52 risk factors covering business risks (licensing regime, raw material supply, customer concentration), industry risks (changing consumer preferences, advertising restrictions), issue-specific risks (partly-paid shares, foreign ownership restrictions), and external risks (economic conditions, regulatory changes).

Corporate Background

  • Originally incorporated as Maple Newgen Trade Private Limited in January 2009
  • Multiple name changes: Tinna Viterra Trade Private Limited (November 2009), Tinna Trade Private Limited (June 2013), Tinna Trade Limited (December 2015), Fratelli Vineyards Limited (July 2024)
  • Through wholly-owned subsidiary Fratelli Wines Private Limited, engaged in wine production and manufacture
  • Current winery capacity: approximately 5.3 million liters
  • Employee strength: 761 employees (including subsidiary)

Legal Proceedings

  • Company involved in 5 material legal proceedings with aggregate amount of ₹12.32 crore
  • Subsidiary involved in 3 material legal proceedings with aggregate amount of ₹23.82 crore
  • Tax proceedings: 14 cases against company, 11 cases against subsidiary
  • Neither company nor promoters/directors identified as wilful defaulters or fraudulent borrowers

Financial Information (Consolidated)

  • Revenue from Operations: ₹18,128.65 lakh (FY2026), ₹30,209.66 lakh (FY2025)
  • Net Loss: ₹-2,491.19 lakh (FY2026), ₹-1,706.26 lakh (FY2025)
  • Net Worth: ₹13,596.36 lakh (March 31, 2026)
  • Basic EPS: ₹-5.75 (FY2026), ₹-4.22 (FY2025)

Monitoring Arrangements

  • CARE Ratings Limited appointed as monitoring agency to monitor utilization of proceeds
  • Quarterly disclosures to audit committee and stock exchange required until full utilization of proceeds

Restrictions

  • No offer in United States or other jurisdictions where prohibited
  • Applications only through ASBA process
  • Allotment only in dematerialized form
  • Eligible only to shareholders who have provided Indian address