₹49.82 Crores | Listing at BSE | Tue, Apr 2, 2024 - Tue, Apr 16, 2024
Mishtann Foods Ltd Rights Issue comprises 3.32 Cr equity shares aggregating to ₹49.82 Cr, offered at an issue price of ₹15 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Mar 20, 2024, with the Rights Issue being offered in the entitlement ratio of 1 : 31.
The term of payment is defined as following :
The Rights Entitlements are expected to be credited to eligible demat accounts on [.]
The Rights Issue opens on Apr 2, 2024, and closes on Apr 16, 2024, with renunciation of Rights Entitlements permitted up to Apr 16, 2024.
The deemed date of allotment is Apr 26, 2024, following which the equity shares are expected to be credited to demat accounts on May 6, 2024 and listed at the BSE on May 7, 2024.
Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Mishtann Foods Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Wed, Mar 20, 2024
Entitlement Ratio
1 : 31
Open Date
Tue, Apr 2, 2024
Close Date
Tue, Apr 16, 2024
Mishtann Foods Ltd's revenue increased by 30.45% and profit after tax (PAT) rose by 53.15% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 257.02 | 160.44 | 128.43 | |
| Revenue | 650.43 | 498.62 | 351.17 | |
| Profit After Tax | 68.91 | 44.85 | 29.28 | 0.30 |
| Net Worth | 219.13 | 142.82 | 98.23 | 69.15 |
| Total Borrowing | 54.02 | 54.50 | 34.86 | 48.11 |
| Amount in ₹ Crore | ||||
Incorporated in 1981, Misthan Foods Limited processes and packages Basmati rice and wheat and sells pulses and salt as fast-moving consumer goods.
The company operates through its state-of-the-art manufacturing facility located in the Sabarkantha District of Gujarat. The manufacturing unit has a production capacity of 45 metric tonnes per hour to process Basmati rice. Additionally, the manufacturing facility is capable of processing wheat, which is utilized as and when the market is buoyant.buoyant.buoyant.
The manufacturing unit has processing facilities for Basmati rice, including polishing, grading, and sorting from raw rice.
The company's food management system is compliant with ISO 22000:2018, as certified by AQC Middle East LLC.
The company's revenues from operations were ₹ 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, the company employs 10 individuals, including directors and staff responsible for various functions such as factory management, administration, marketing, and accounting, each with their respective goals.
The company proposes to utilize the net proceeds from the Issue towards funding the following objects:
[Dilip Davda] This RI is at a marginal discount of around 19%, based on its last traded price. The counter is well operated by vested interests to tempt investors for subscribing RI. Its financial performance from FY22 onwards raise eyebrows and sustainability of such margins going forward. Well-informed investors may park moderate funds for medium term rewards. They may sell eligible RI quantity and apply as a switch over. The company has lacuna over compliance as appears for the filing of the offer documents. Read detail review...
Mishtann Foods Rights Issue 2024 got oversubscribed by 1.59 times by the end of the bidding period with total bid quantity received by BSE of 5,29,60,529 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Apr 16 2024 17:00:00 | 5,29,60,529 | 1.59x |
Mishtann Foods Ltd
B-905, Empire Business Hub, Opp Shakti Farm,
Science City Road
Sola, Ahmedabad- 380 060
Ahmedabad, Gujarat, 380060
The Mishtann Foods Rights Issue 2024 opens on Tue, Apr 2, 2024, and closes on Tue, Apr 16, 2024.
Mishtann Foods Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | |
| Last Date for renunciation of Rights Entitlements | Tue, Apr 16, 2024 |
| Issue Opening Date | Tue, Apr 2, 2024 |
| Issue Closing Date | Tue, Apr 16, 2024 |
| Date of Allotment (on or about) | Fri, Apr 26, 2024 |
| Date of Credit (on or about) | Mon, May 6, 2024 |
| Date of Listing (on or about) | Tue, May 7, 2024 |
You can apply for Mishtann Foods Rights Issue 2024 in two ways:
Steps to apply for Mishtann Foods Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Mishtann Foods Rights Issue 2024 using Registrar's website (R-WAP)
