NHC Foods Ltd 's Rs.47.42 Crore Rights Issue Opens For Subscription on December 5, 2024

PNN

Valsad (Gujarat) [India], December 9: Rs.47.42 crore Right Issue of NHC Foods Ltd (BSE-517554) engaged in trading of a diverse range of food products, including spices, food grains, oil seeds, pulses, dry fruits, and other agro-commodities open for subscription from December 5, 2024. The right issue of the company is attractively priced at Rs.1 per share as compared to the current market price of Rs. 2.76 per share on 6 December 2024. Rights Issue will close on December 18, 2024.

Investors may also buy NHC Rights Entitlements (BSE Symbol: NHCFO-RE) from BSE to participate/subscribe in the company's right issue at Rs. 1. The last date for On-market Renunciation of Rights Entitlements is 12 December 2024.

The Rights entitlement ratio for the issue is fixed at 4:1 (4 Rights equity shares for every 1 equity share held by shareholders on the record date - November 26, 2024). The Company will issue 47.42 crore fully paid-up Equity Shares at a price of Rs. 1.

For 6 months ended H1FY25, Net Profit increased to Rs. 4.05 crore as compared to Net Profit of Rs. 2.35 crore in 12 months Full year FY24, Revenues in H1FY25 at Rs. 140.67 crore as against full-year revenue of Rs. 211.30 crore in FY24

The funds raised through the right issue will be utilised to meet the working capital requirement, to make the repayment of the Secured Loan and for General Corporate Purposes. Out of the issue proceeds of Rs. 47.42 Crores, the company intends to use Rs.25 crore towards working capital requirements, Rs.15 crore to make the repayment of Secured Loans and Rs.7 crore for general corporate purposes

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