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The Rights entitlement has been fixed as One 1 Rights Equity Share for every 31 fully paid-up Equity Shares held on the Record Date by the Eligible Shareholders.
New Delhi: Mishtann Foods Ltd, a leading FMCG company, in its board meeting held on 20 March 2024, announced the terms on its previously approved rights issue. The company fixed the price of the Rights issue at Rs. 15 per rights equity share. The record date for the rights issue has been fixed as March 20, 2024. The issue is now open and will close on April 16, 2024.
The Rights entitlement has been fixed as One 1 Rights Equity Share for every 31 fully paid-up Equity Shares held on the Record Date by the Eligible Shareholders.
Earlier, Ace investor Ajay Upadhyaya has picked a stake in Mishtaan Foods Ltd. Further, Morgan Stanley has also added a stake via open market purchase. For the quarter ended 31 December 2023, the shareholding reflects a 2.19 per cent stake being held by Nomura Singapore Ltd.
Incorporated in 1981, Mishtann Foods Ltd. (MFL) is engaged in and processing of rice, wheat and other commodities. The company specializes in the processing and packaging of fast-moving consumer goods including Basmati rice and wheat as well as the marketing and selling of pulses and salt. It is involved in processing and marketing unbranded Basmati rice of various grades, sizes, flavours and fragrances.
Additionally, the company procures finished pulses and edible salt from third-party manufacturers for marketing and distribution. Currently, the company has 15 super stockists operating in 10 states, serving over 70,000 retailers.
