12-Mar-2024
2 mins read
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Mishtann Foods Limited comes up with its right issue. The issue size of shares is 33,266,667 and the issue amount is Rs 49.90 Crores. Investors can apply for rights issue from April 2, 2024 till April 17, 2024 . The issue price is decided at Rs 15 per share, and the face value is also set to be Rs 1 per share. However an investor who does not own shares of Mishtann Foods Limited can buy its shares till March 19, 2024 for the eligibility of this rights issue. The Registrar who will be managing of this right issue is Kfin Technologies Limited.
About Mishtann Foods Limited
Misthan Foods Limited established in 1981, specializes in processing and packaging Basmati rice and wheat and markets pulses and salt as fast-moving consumer goods. Operating from a cutting-edge manufacturing facility situated in the Sabarkantha District of Gujarat, the company boasts a production capacity of 45 metric tonnes per hour for processing Basmati rice. Furthermore, the facility is equipped to process wheat, strategically aligning with market demand. The manufacturing unit is fully equipped with processing facilities for Basmati rice, encompassing polishing, grading, and sorting from raw rice. In adherence to ISO 22000:2018 standards, certified by AQC Middle East LLC, Misthan Foods Limited ensures a robust food management system. The financial performance of the company is reflected in its revenues from operations: ₹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, Misthan Foods Limited employs a dedicated team of 10 individuals, including directors and staff overseeing functions such as factory management, administration, marketing, and accounting, each contributing to the achievement of their respective goals.
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Financial Performance of Mishtann Foods Limited (Amt in Rs Crore)
Mishtann Foods Limited reported a revenue of Rs 650.43 Crore which is increased by 30.45% and Profit after tax of Rs 44.85 Crore i.e., rose by 53.15% for the period of April 2022 to March 2023.
| Period Ended | 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 257.02 | 160.44 | 128.43 | |
| Revenue | 650.43 | 498.62 | 351.17 | |
| Profit After Tax | 68.91 | 44.85 | 29.28 | 0.3 |
| Net Worth | 219.13 | 142.82 | 98.23 | 69.15 |
| Total Borrowing | 54.02 | 54.5 | 34.86 | 48.11 |
Important Dates for Mishtann Foods Rights Issue
| Issue Open | April 2, 2024 - April 17, 2024 |
| Security Name | Mishtann Foods Ltd |
| Issue Size (Shares) | 33,266,667 |
| Issue Size (Amount) | Rs 49.90 Crores |
| Issue Price | Rs 15 per share |
| Face Value | Rs 1 per share |
| Listing At | BSE |
| Terms of Payment | Yet to be announced |
| Entitlement | 1 Rights Equity Share(s) for every 31 fully paid-up Equity Shares held on Record Date |
Timetable of Mishtann Foods Rights Issue
| Last Date to buy shares | 19-Mar-24 |
| Record Date | 20-Mar-24 |
| Credit of Rights Entitlements | Yet to be announced |
| Bid/Offer Opens On | 2-Apr-24 |
| Renunciation of Rights Entitlements | Yet to be announced |
| Bid/Offer Closes On | 17-Apr-24 |
| Deemed Date of Allotment | Yet to be announced |
| Credit Date | Yet to be announced |
| Listing Date | Yet to be announced |
Objectives of Mishtann Foods Rights Issue
The company plans to use the net proceeds from the Issue to support existing working capital and meet general corporate needs. This strategic allocation demonstrates a comprehensive approach, enhancing operational capabilities and supporting overall financial stability for sustained growth and success.
How to Apply for Mishtann Foods Rights Issue?
Wait for the public issue to open for subscription, then click here to apply for the Mishtann Foods Rights Issue with Bigul.
How to Check the Allotment Status of Mishtann Foods Rights Issue?
The registrar for this right issue is Kfin Technologies Limited. Investors can check out the allotment status by clicking here.
FAQs
1. What is the Mishtann Foods Rights Issue opening and closing date?
This Rights Issue will open for subscription on April 2, 2024 and closes on April 17, 2024.
2. What is the record date for the Mishtann Foods Rights Issue?
The record date, which is the Date to determine the shareholders eligible for the Rights Issue is March 20, 2024.
3. What is the last date to buy Shares?
To get eligible for the rights issue of Mishtann Foods limited, an investor can buy its shares till March 19, 2024.
4. What are the recent financials of Mishtann Foods Limited reported?
Mishtann Foods Limited reported a revenue of Rs 650.43 Crore which is increased by 30.45% and Profit after tax of Rs 44.85 Crore i.e., rose by 53.15% for the period of April 2022 to March 2023.
5. How can I apply for the Mishtann Foods Rights Issue?
You can apply for the Rights Issue once it opens for a subscription. Just click here to apply with Bigul.
6. How can I check the allotment status of the Mishtann Foods Issue?
The registrar for Mishtann Foods is Kfin Technologies Limited. You can click here to check your allotment status on registrar website.
7. What is the objective of the Mishtann Foods Rights Issue?
The company plans to use the net proceeds from the Issue to support existing working capital and meet general corporate needs. This strategic allocation demonstrates a comprehensive approach, enhancing operational capabilities and supporting overall financial stability for sustained growth and success.
8. Where will the Mishtann Foods Right Issue be listed?
The Rights Issue will be listed on the BSE.
9. What is the entitlement ratio for the Mishtann Foods Limited Right Issue?
The entitlement ratio is set at 1 Rights Equity Share(s) for every 31 fully paid-up Equity shares held on the Record date.
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