Heritage Foods Rights Issue will open for subscription from 30 January 2023. the company aims for an issue size of ₹23.20 Crores through this rights Issue.
About the company
Founded in 1992 by Mr. Nara Chandrababu Naidu. Heritage Foods Limited is engaged in the business of processing and selling Dairy Products. The company has two business divisions – Dairy and Renewable Energy. Currently, Heritage’s milk and milk products have a market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharastra, Odisha, NCR Delhi, Haryana, Rajasthan, Uttarakhand & Uttar Pradesh. The company’s product portfolio includes Milk, Curd, Buttermilk, Ice-cream, Frozen Desserts, Lassi, and flavored milk. The annual turnover of Heritage Foods stood at INR 24,070 million in the financial year 2020-21.
Objectives of the Issue
- Meeting the Working Capital requirement of our Company;
- General Corporate purposes; and
- Issue related expenses.
Rights Issue Timetable
| Record Date | 20 January 2023 |
| Credit of Rights Entitlements | 24 January 2023 |
| Bid/Offer Opens On | 30 January 2023 |
| Renunciation of Rights Entitlements | 08 February 2023 |
| Bid/Offer Closes On | 13 February 2023 |
| Deemed Date of Allotment | 21 February 2023 |
| Credit Date | 23 February 2023 |
| Listing Date | 27 February 2023 |
Heritage Foods Rights Issue Details
| Issue Open | Jan 30, 2023 – Feb 13, 2023 |
| Security Name | Heritage Foods Limited |
| Issue Size (Shares) | 46,398,000 |
| Issue Size (Amount) | ₹23.20 Crores |
| Issue Price | ₹5 per share |
| Face Value | ₹5 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The entire amount is payable on the Application. |
| Entitlement | 1 Equity Shares for every 1 Equity Shares held on the Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-22 | 902.58 | 2692.55 | 96.09 | 657.55 |
Heritage Foods Rights Issue Lead Manager(s)
- Chartered Finance Management Ltd
Rights Issue Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: heritagefoods.rights@kfintech.com
Website: https://karisma.kfintech.com/
Company Contact Information
Heritage Foods Limited
Regd. Off: # 6-3-541/C, Panjagutta
Hyderabad
500 082
Phone: +91-40-23391221
Email: hfl@heritagefoods.in
Website: http://www.heritagefoods.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
