Heritage Foods Rights Issue

Heritage Foods Rights Issue

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 Date20 January 2023
Credit of Rights Entitlements24 January 2023
Bid/Offer Opens On30 January 2023
Renunciation of Rights Entitlements08 February 2023
Bid/Offer Closes On13 February 2023
Deemed Date of Allotment21 February 2023
Credit Date23 February 2023
Listing Date27 February 2023

Heritage Foods Rights Issue Details

Issue OpenJan 30, 2023 – Feb 13, 2023
Security NameHeritage 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 AtBSE, NSE
Terms of PaymentThe entire amount is payable on the Application.
Entitlement1 Equity Shares for every 1 Equity Shares held on the Record Date

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
(Amount in ₹ Crore)

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

Company Contact Information

Heritage Foods Limited
Regd. Off: # 6-3-541/C, Panjagutta
500 082

Phone: +91-40-23391221
Email: hfl@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

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