NHC Foods Limited, a prominent exporter of agricultural commodities and spices, has announced the terms for its Rights Issue following in-principle approval from the Bombay Stock Exchange (BSE). The Rights Issue aims to raise Rs 4742.00 lakhs which will be used to enhance working capital and repay secured working capital loans, thus leading to increased profitability. The promoters of NHC Foods also aim to enhance shareholder participation and benefits. The Rights Issue also offers public shareholders an option to boost their involvement and equity ownership in the company.
Below are the key details:
● Closing Price as on 22 nd November 2024: Rs.6.89
● Rights Issue Size: Rs.47,42,00,000
● Right issue price: Rs.1 Each share
● Record Date: November 26, 2024
● Issue Opening Date: December 5, 2024
● Issue Closing Date: December 18, 2024
The Rights Equity Shares are being offered to Eligible Equity Shareholders on a rights basis in the ratio of 4 (Four) Rights Equity Shares for every 1 (One) fully paid-up Equity Share held. It offers an exciting opportunity for investors to subscribe to the offer within the specified period and enhance their stake in the company at a potentially attractive price.
“The proceeds from the Rights Issue will be used to bolster the growth of the company. Our aim is to reaffirm our commitment to increasing shareholder value while ensuring a fair and equitable distribution of shares among public investors. This strategy to offer the shares at a potentially attractive price also aligns with our objective to strengthen public shareholding and optimize the company capital structure.”, said Apoorva Shah, Chairman & Managing Director of NHC Foods Ltd.
NHC Foods Ltd is proud to announce that it has achieved a significant milestone in its financial performance for the quarters ending June 2024 and September 2024. Demonstrating robust growth and operational excellence, the company reported record-breaking sales and turnover figures, underscoring its strong market position and resilience in a dynamic business environment. This marks yet another consecutive strong performance for the company.
“NHC Foods Limited is currently on a high-growth trajectory, reporting robust top-line and bottom-line performance. We are very confident in the company’s future growth prospects and are actively investing in technology and process improvements to sustain this momentum. NHC Foods is also looking at geographical diversification into new international markets as well as strengthening its foothold in the Indian market through targeted strategies and product innovations.” added Apoorva.
Source : Press Release
