Heritage Foods Ltd approves draft offer letter for rights issue

The members of the Right Issue Committee of Heritage Foods Ltd at their meeting held on today i.e. 27th December 2022 had reviewed and approved the details regarding the rights offer.

The Draft Letter of Offer for the proposed Rights Issue of the Company for an amount of Rs. 2319.90 lakhs. The Draft Letter of Offer will be filed with the Stock Exchanges where the shares of the Company are listed for in-principle approval.

The committee approved the appointment of ICICI Bank Limited, Capital Markets Division, Churchgate, Mumbai as a Banker to the issue.

The company has proposed Rights issue of 4,63,98,000 Equity Shares of face value of Rs. 5 each for cash at a price of Rs. 5 per Rights Equity Share for an amount aggregating to Rs. 2319.90 lakhs.

Shares of Heritage Foods Limited was last trading in BSE at Rs. 359.00 as compared to the previous close of Rs. 359.55. The total number of shares traded during the day was 8254 in over 491 trades.

The stock hit an intraday high of Rs. 362.10 and intraday low of 351.40. The net turnover during the day was Rs. 2967040.00.

Source : Equity Bulls

Keywords

HeritageFoods INE978A01027 PackagedFoods RightsIssue DraftOfferLetter