Mishtann Foods Rights Issue Opens with Lucrative Offer

Mishtann Foods Rights Issue Opens/Pixabay

VoM News Desk | April 4, 2024 | 03:15 PM IST | Breaking News | Follow on Google News

Mishtann Foods Rights Issue Opens with Lucrative Offer

Mishtann Foods Rights Issue Opens with Lucrative Offer

The rights issue of Mishtann Foods commenced on 2nd April 2024 and will continue until 16th April 2024, offering eligible applicants an opportunity to participate. Priced at ₹15 per share, the rights issue presents a lucrative opportunity for investors, with the company’s current share price exceeding ₹20, indicating a premium of over 25%.

Key Details of the Mishtann Foods Rights Issue

1. Issue Date: The rights issue opened on 2nd April 2024 and will close on 16th April 2024.
2. Issue Price: The FMCG company’s board of directors has set the rights issue price at ₹15 per share.
3. Entitlement Ratio: Eligible shareholders will receive one right issue for every 31 Mishtann Foods shares held on the record date, which was 20th March 2024.
4. Issue Size: Mishtann Foods aims to issue rights not exceeding ₹49.82 crore.
5. To Apply or Not: Analysts recommend eligible shareholders to consider participating in the rights issue due to the robust fundamentals of the company and its attractive pricing. Vaibhav Kaushik, Research Analyst at GCL Broking, highlights Mishtann Foods’ strong performance in recent years, along with the confidence shown by foreign and domestic investors.

Interest from Prominent Investors

Ace investor Ajay Upadhyaya and Morgan Stanley have both acquired stakes in Mishtann Foods, indicating confidence in the company’s prospects. Additionally, Nomura Singapore Ltd. ODI holds a 2.19% stake in the company as of December 2023, further bolstering investor sentiment.

VoM News Desk

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