BSE grants in principle approval to Sattva Sukun Lifecare for Rights issue up to Rs 49.50 Cr.

Sattva Sukun Lifecare Limited (Sattva Sukun, The Company) engaged in the manufacturing of aroma and home decor products, proposes to open its Right Issue and aiming to raise ₹ 49.50 Crore. The company has received in-principle approval from the Bombay Stock Exchange on 27th March for its proposed rights issue.

The net proceeds from the Rights Issue will be utilized to meet the working capital requirements of the company, support business expansion, and invest in existing subsidiaries. If deemed appropriate, the funds may also be used to form or acquire new subsidiaries or associate companies for business expansion and diversification, or to invest in identified companies with high growth potential.

Mr. Mit Brahmbhatt, Managing Director of Sattva Sukun Lifecare Limited said, "The in-principle approval from BSE for the Rights Issue is an important milestone for us as we continue to strengthen our market position and drive innovation in burner manufacturing. The proceeds from this issue will be strategically utilized to strengthen our working capital, support business expansion, and invest in our existing and potential subsidiaries. As we continue to witness strong demand for our premium aroma and home decor products, this capital infusion will enable us to scale operations, enhance product innovation, and expand our market presence.

Our robust financial performance, with a 65% increase in revenue and 126% growth in net profit for the nine-month period ended December 2024, reflects our operational efficiency and commitment to excellence. The company remains focused on leveraging new opportunities, expanding its digital footprint, and delivering value to all stakeholders.

We are confident that this Rights Issue will further strengthen our foundation for long-term success. With the continued support of our shareholders, we will continue to drive innovation, expand our reach, and create sustainable value. We look forward to an exciting future filled with new opportunities and milestones."

Shares of Sattva Sukun Lifecare Limited was last trading in BSE at Rs. 1.18 as compared to the previous close of Rs. 1.16. The total number of shares traded during the day was 413350 in over 315 trades.

The stock hit an intraday high of Rs. 1.19 and intraday low of 1.14. The net turnover during the day was Rs. 484881.00.

Source : Equity Bulls

Keywords

SattvaSukunLifecare INE280E01038 FundRaising RightsIssue