Shares of Hatsun Agro Products rose 11 per cent in Thursday’s trade after the company said its rights issue committee is scheduled to meet on Saturday, December 3, to consider the terms and conditions in connection with the rights issue and other related matters, Discussion and decision will be taken. Equity Shares, including determination of rights issue price, issue size, rights entitlement ratio and record date.
The dairy stock rose 10.92 per cent to hit an intraday high of Rs 988.90 on the BSE. The stock is up 23 per cent from its 52-week low of Rs 806.10.
The company had on September 19 approved the offer and issue of fully paid-up equity shares of the company for an amount up to Rs 400 crore by way of rights issue. It had constituted a Rights Issue Committee in this regard.
“This notice is issued in terms of Regulation 29(1)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. We will inform you of the decision of the Rights Issue Committee immediately. after its meeting,” the company said.
Hatsun Agro Products is the largest private sector dairy company in India. The company has its own infrastructure for milk collection centers and chilling centers for procurement and handling of raw milk. The company’s product range includes Ice Cream – Arun Ice Cream, Make Your Own Sundae, Arun Unlimited. Dairy products include Hutson Cooking Butter, Hutson Cow Ghee, Hutson Butter Milk, Hutson Curd, Hutson Paner.
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