Hatsun Agro board approves rights issue

3 Dec 2022 , 05:21 PM

In an exchange filing, the company said that the board has approved issuance of upto 71,85,444 fully paid-up equity shares at a price of Rs 419 per equity share, for an amount aggregating upto Rs 301,07,01,036. The issue will open on Monday, 19 December 2022, and it will close on Monday, 9 January 2023. The rights entitlement ratio is set at 1:30 (one rights equity share for every thirty fully paid-up equity shares held by the shareholders, as on the record date). The record date for the same is fixed on Thursday, 8 December, 2022. Post rights issue, the companys outstanding equity shares will increase to 22,27,48,767 from 21,55,63,323 currently. Earlier on 19 September 2022, the companys board approved raising Rs 400 crore via rights issue of equity shares. Hatsun Agro Product manufactures and markets dairy products like milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, paneer, etc. The companys net profit tumbled 48.26% to Rs 42.48 crore on 7.36% rise in net sales to Rs 1,747.73 crore in Q2 FY23 over Q2 FY22. Shares of Hatsun Agro Product declined 1.43% to end at Rs 945.60 on Friday, 2 December 2022. Powered by Capital Market – Live News