NHC Foods Ltd Unveils Major Rights Issue for Strategic Expansion

NHC Foods Ltd launches a Rs.47.42 crore rights issue, priced at Rs.1 per share, significantly below its market price, to raise funds for working capital, loan repayment, and general corporate purposes. The rights issue is open from December 5 to December 18, 2024, with a 4:1 entitlement ratio.

NHC Foods Ltd has announced a significant rights issue worth Rs.47.42 crore, inviting investors to subscribe at an attractive price of Rs.1 per share, notably lower than its market price of Rs.2.76.

The subscription window is open from December 5 to December 18, 2024. The company is facilitating this offer with a 4:1 rights entitlement ratio, allowing shareholders on record as of November 26, 2024, to acquire four new shares for every share held.

Proceeds from this issue will strategically bolster working capital, repay secured loans, and address general corporate needs, thereby positioning NHC Foods Ltd for sustained financial health and growth.

(With inputs from agencies.)