Don't miss action in this small-cap FMCG stock that has announced rights issue!

The company reported positive results in its quarterly consolidated financial statements and annual consolidated financial statements.

Heritage Foods Ltd, in its recent press release announced that it will be offering rights issue to its existing shareholders in a 1:1 ratio at a face value of Rs. 5 per equity share for cash at a price of Rs. 5 per rights equity shares.  

The company has set January 20, 2023 as the record date for the rights issue. The Board of Directors has determined that the appropriate issue size is 4,63,98,000 equity shares for an amount aggregating to Rs 2319.90 lakh. The rights issue opening date is Monday, January 30, 2023 and the closing date is Monday, February 13, 2023.  

Heritage Foods is engaged in the business of procurement and processing of milk & milk products and also generation of power through solar & wind for the captive consumption of its dairy plants.

The company reported positive results in its quarterly consolidated financial statements and annual consolidated financial statements. The share of the company has a 52-week high of Rs 450 and a 52-week low of Rs 250.25.   

Today, shares of Heritage Foods Ltd surged 1.96 per cent to the day’s high of Rs 374.90 per share from its previous closing of Rs 367.70. At 03:30 pm, the shares of the company ended the day lower, down by 1.14 per cent to Rs 363.40 per share. Investors should keep an eye on this Small-Cap FMCG stock.