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Heritage Foods to consider raising funds through a rights issue

The board meeting will take place roughly two months after Heritage Foods released its Q1 FY23 results, which showed a year-over-year increase in revenue of 27%

September 22, 2022 1:17 IST | India Infoline News Service
Heritage Foods has posted a net profit of Rs7.3 crore for the three months ending June 2022. During the same time period, the company's sales increased by 27% year over year to Rs820.9 crore.
At the closing of trading on the BSE, Heritage Foods' shares were selling for Rs320.30 each, down 1.46 % from the previous day's close. On the NSE, the share price finished at Rs319.30, 1.81 less than the previous closing price.

According to the regulatory filing, the meeting is being called to "consider and approve, among other things, raising funds by issuing equity shares on a rights issue basis in accordance with applicable laws, rules, and regulations thereof and subject to such regulatory/statutory approvals as may be required."
Heritage Foods has claimed a net profit of Rs7.3 crore for the three months ending June 2022. During the same time period, the company's sales increased by 27% year over year to Rs820.9 crore. At the closing of trading on the BSE, Heritage Foods' shares were selling for Rs320.30 each, down 1.46 % from the previous day's close. On the NSE, the share price finished at Rs319.30, 1.81 less than the previous closing price.

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