Hatsun Agro Product Rights Issue will open for subscription from 19 December 2022. the company aims for an issue size of ₹301.07 Crores through this rights Issue.
Hatsun Agro Product Ltd
HAP manufactures and markets a range of high-quality dairy products. The company’s products cater to both cooking and consumption, like, milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, paneer, and lots more. HAP brands have become household names in over one million Indian houses. Arun Icecreams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee, Hatsun Dairy Whitener, and Ibaco have become popular choices across the country.
The company also has a healthy global presence with dairy ingredients exported to 42 countries around the world — primarily in America, the Middle East, and South Asian markets. Hatsun Agro Product Ltd has 20 plants. The company’s brands enjoy a considerable share in the states of Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Puducherry, Kerala, Maharashtra, Goa, Gujarat, Chhattisgarh, and Odisha.
Objectives of the Issue
- Repayment or pre-payment, in full or part, of certain outstanding borrowings availed by the Company.
- General corporate purposes.
Issue Timetable
| Record Date | 08 December 2022 |
| Credit of Rights Entitlements | 15 December 2022 |
| Bid/Offer Opens On | 19 December 2022 |
| Renunciation of Rights Entitlements | 03 January 2023 |
| Bid/Offer Closes On | 09 January 2023 |
| Deemed Date of Allotment | 17 January 2023 |
| Credit Date | 19 January 2023 |
| Listing Date | 23 January 2023 |
Hatsun Agro Product Rights Issue Details
| Issue Open | Dec 19, 2022 – Jan 9, 2023 |
| Security Name | Hatsun Agro Product Ltd |
| Issue Size (Shares) | 7,185,444 |
| Issue Size (Amount) | ₹301.07 Crores |
| Issue Price | ₹419 per share |
| Face Value | ₹1 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The amount of Rs 419 On Application has to be paid at the time of Application. |
| Entitlement | 1 Rights Share for every 30 Equity Shares held as on Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3117.03 | 5557.02 | 273.58 |
| 31-Mar-22 | 3541.67 | 6380.18 | 248.25 |
Rights Issue Lead Manager(s)
- Axis Capital Limited
Hatsun Agro Product Rights Issue Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: hatsunagro.rights@linkintime.co.in
Website: https://linkintime.co.in/
Company Contact Information
Hatsun Agro Product Ltd
Plot No. 14,
Tamil Nadu Housing Board
Sholinganallur, Chennai – 600 119, India
Phone: 044-24501622
Email: info@hap.in
Website: https://www.hap.in/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
