Mishtann Foods on Saturday announced that its board approved raising of funds by way of issue of equity shares on a rights issue basis for a value not exceeding Rs 150 crore.
The company said that the issue is subject to receipt of necessary approvals from regulatory authorities.Mishtann Foods is engaged in manufacturing and marketing of a large variety of rice with focus on Basmati rice, and pulses like dal.
Mishtann Foods' net profit surged 216% to Rs 11.03 crore and revenue from operations soared 118.7% to Rs 158.27 crore in Q1 FY23 over Q1 FY22.
The scrip rose 0.33% to end at Rs 9.12 on Friday, 30 December 2022.
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