Mumbai, 5th December 2024: The Rights Issue for NHC Foods Limited, a leading merchant exporter of agricultural commodities and spices, is set to open on December 5, 2024. The company aims to raise 14,742.00 lakhs to strengthen its working capital and repay secured working capital loans, thereby boosting profitability.
The promoters of NHC Foods aim to increase shareholder engagement and benefits through the Rights Issue, providing public shareholders a golden opportunity to enhance their involvement and equity stake in the company by subscribing to this Rights Issue.
Below are the kev details:
• Closing Price as on December 3, 2024 : 1.3.21
• Right issue price: 1.1 per Rights Equity Share
• Rights Issue Size: 1.47,42,00,000
• Record Date: November 26, 2024
• Rights Issue Opening Date: December 5, 2024
• Renunciation of Rights Entitlement Period: December 5, 2024 to December 12, 2024
• Rights 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.
“At NHC Foods, we have always been committed to creating value for our shareholders. This Rights Issue reflects our dedication to enhancing shareholder value while promoting a fair and equitable distribution of shares among public investors. By offering shares at a potentially attractive price, we aim to strengthen public shareholding and optimize the company’s capital structure. Our dedication to shareholders is further demonstrated by the Share Split carried out in July 2024, wherein NHC Foods executed a 10.-1 share split to boost liquidity and make its shares more accessible to a wider base of investors.” said Mr. Apoorva Shah, Chairman & Managing Director of NHC Foods Ltd.
“NHC Foods delivered outstanding performance in the quarters ending June 2024 and September 2024, achieving record-breaking sales and turnover, which h’ighlight its strong market position and adaptability in a dynamic business environment The company continues to make strateg ic investments in technology and process enhancements to drive growth and maintain its competitive edge”. added Mr. Apoorva Shah.