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Sarveshwar Foods Ltd. ( (IN:SARVESHWAR) ) has shared an announcement.
Sarveshwar Foods Limited has announced the allotment of 24,99,10,469 equity shares through a Rights Issue, as approved in a recent board meeting. This move is set to increase the company’s paid-up equity share capital significantly, reflecting a strategic effort to strengthen its financial position and potentially enhance its market presence. The Rights Issue was conducted at a price of Rs. 6 per share, with a ratio of 12 new shares for every 47 existing shares held. This development is expected to have implications for the company’s stakeholders, including an increase in shareholder value and potential for expanded operations.
More about Sarveshwar Foods Ltd.
Sarveshwar Foods Limited operates in the food industry, focusing primarily on the production and distribution of rice and related products. The company is based in Jammu, India, and is known for catering to both domestic and international markets with a variety of rice offerings.
Average Trading Volume: 1,029,916
Technical Sentiment Signal: Buy
Current Market Cap: 9.44B INR
Learn more about SARVESHWAR stock on TipRanks’ Stock Analysis page.