Sarveshwar Foods share will remain in focus in Friday's trading session as the FMCG major plans to raise over Rs 24 crore by issuing warrants on a preferential basis to promoters and investors. The company in a regulatory filing on Thursday informed the exchanges that its board has approved the proposal to raise funds over Rs 24 crore by preferential issue of fully convertible warrants.
The company in exchange filing, said the Board of the company in their meeting held on Thursday, July 25, 2024 approved the allotment of 10,20,00,000 fully Convertible Warrants carrying a right exercisable by the Warrant holder to subscribe to one Equity Share having face value of Re:1/- per Warrant, to persons belonging to the non-promoter, public category on preferential basis.
"The company also fixed the issue price at Rs 9.70 per warrant after receipt of stipulated amount i.e. 25% of the issue Price as subscription amount aggregating to Rs. 24,73,50,000," the company said.
In 2023, the company had announce to sub-divide its face value of the share to Re 1 from an earlier Rs 10. The stock split always takes place on the face value of a stock and not on the market price. The company in September 2023 also announced the bonus share with the ratio of 2:1, meaning every 2 equities held, the shareholders was offered 1 additional equity each.
The company is engaged in food processing, mostly in rice product varieties.
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2024-07-26T07:32:27Z dg43tfdfdgfd