Hatsun Agro Product to raise Rs400 crore via rights issue; Stock surges near 2%

20 Sep 2022 , 11:05 AM

Hatsun Agro Product Limited has informed to the exchanges regarding approval of raising of funds by way of issue of securities to the existing shareholders on a rights basis.

Accordingly, the Board of Directors of the company at its meeting held on September 19, 2022, has considered and approved, subject to receipt of relevant approvals from the regulatory authorities, as may be required, issue of Equity Shares by way of a Rights Issue to the existing shareholders of the Company on a record date for an amount not exceeding Rs400 crore (Rupees Four Hundred Crores Only).

The Board also approved the formation of a Committee of Directors for the said Rights Issue and authorized it to decide the terms and conditions of the Rights Issue including, the rights entitlement ratio, the issue price, timing of the issue, record date and all other matters related and incidental to the Rights Issue in consultation with the lead manager to the Rights Issue.

At around 11:06 AM, Hatsun Agro Product Ltd is currently trading at Rs1,097.50 per share up by Rs18.7 or 1.73% from its previous closing of Rs1,078.80 per share on the BSE.

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