Mishtann Foods Rights Issue

Mishtann Foods Rights Issue will open for subscription from 02 April 2024. the company aims for an issue size of ₹49.82 Crores through this rights Issue.

About the company

Incorporated in 1981, Misthan Foods Limited processes and packages Basmati rice and wheat and sells pulses and salt as fast-moving consumer goods. The company operates through its state-of-the-art manufacturing facility located in the Sabarkantha District of Gujarat. The manufacturing unit has a production capacity of 45 metric tonnes per hour to process Basmati rice. Additionally, the manufacturing facility is capable of processing wheat, which is utilized as and when the market is buoyant.buoyant.buoyant.

The manufacturing unit has processing facilities for Basmati rice, including polishing, grading, and sorting from raw rice. The company’s food management system is compliant with ISO 22000:2018, as certified by AQC Middle East LLC. The company’s revenues from operations were ₹ 29,394.49 lakhs (Q2 2023), ₹ 65,038.52 lakhs (FY 2023), ₹ 49,857.92 lakhs (FY 2022), and ₹ 35,107.13 lakhs (FY 2021).

As of June 30, 2023, the company employs 10 individuals, including directors and staff responsible for various functions such as factory management, administration, marketing, and accounting, each with their respective goals.

Objectives of the Issue

  • To augment the existing and incremental working capital requirement of the Company; and
  • General Corporate Purposes

Mishtann Foods Rights Issue Timetable

Last Date to buy shares19 March 2024
Record Date20 March 2024
Credit of Rights Entitlements
Bid/Offer Opens On02 April 2024
Renunciation of Rights Entitlements16 April 2024
Bid/Offer Closes On16 April 2024
Deemed Date of Allotment26 April 2024
Credit Date06 May 2024
Listing DateMay 2024

Mishtann Foods Rights Issue Details

Issue OpenApril 2, 2024 – April 16, 2024
Security NameMishtann Foods Ltd
Issue Size (Shares)33,212,903
Issue Size (Amount)₹49.82 Crores
Issue Price₹15 per share
Face Value₹1 per share
Listing AtBSE
Terms of Payment
Entitlement1 Rights Equity Share(s) for every 31 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax68.9144.8529.280.30
Net Worth219.13142.8298.2369.15
Total Borrowing54.0254.5034.8648.11
(Amount in ₹ Crore)

Mishtann Foods Rights Issue Documents

Lead Manager(s)

Rights Issue Registrar

Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: mishtann.rights@kfintech.com

Company Contact Information

Mishtann Foods Ltd
B-905, Empire Business Hub, Opp Shakti Farm,
Science City Road
Sola, Ahmedabad- 380 060

Phone: +91 982 462 3116
Email: info@mishtann.com

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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