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 shares | 19 March 2024 |
| Record Date | 20 March 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 02 April 2024 |
| Renunciation of Rights Entitlements | 16 April 2024 |
| Bid/Offer Closes On | 16 April 2024 |
| Deemed Date of Allotment | 26 April 2024 |
| Credit Date | 06 May 2024 |
| Listing Date | May 2024 |
Mishtann Foods Rights Issue Details
| Issue Open | April 2, 2024 – April 16, 2024 |
| Security Name | Mishtann 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 At | BSE |
| Terms of Payment | |
| Entitlement | 1 Rights Equity Share(s) for every 31 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 257.02 | 160.44 | 128.43 | |
| Revenue | 650.43 | 498.62 | 351.17 | |
| Profit After Tax | 68.91 | 44.85 | 29.28 | 0.30 |
| Net Worth | 219.13 | 142.82 | 98.23 | 69.15 |
| Total Borrowing | 54.02 | 54.50 | 34.86 | 48.11 |
Mishtann Foods Rights Issue Documents
Lead Manager(s)
Rights Issue Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: mishtann.rights@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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
Website: https://www.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
