Heritage Foods Ltd board announces 1:1 rights issue

The Board of Directors of Heritage Foods Ltd at their meeting held on today i.e. September 30, 2022 approved the fund raising through Rights Issue.

The board approved issue of equity shares in the ratio of 1:1 by way of Rights Issue basis at the face value of Rs.5/- each per equity shares to the existing shareholders of the Company as on the record date (to be announced later).

The Board has constituted and authorized 'Rights Issue Committee' to decide detailed terms and conditions of the Issue, including but not limiting to deciding the payment modalities/schedule thereof, record date, timings, other terms and conditions and all other related matters etc.

The promoter and promoter group of the company may subscribe to all the unsubscribed shares in the issue, if any.

The issue would constitute 4,63,98,000 Equity shares of face value of INR 5/- each at a price of Rs.5/- (Rupees five only) per rights equity share garnering INR 23,19,90,000 (Twenty Three Crores Nineteen Lakhs and Ninety Thousand only).

Source : Equity Bulls

Keywords

HeritageFoods FundRaising RightsIssue MiniBonus