Shares of Hatsun Agro Product rallied 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, discuss and decide the terms and conditions and other related matters in connection with the rights issue of equity shares, including the determination of rights issue price, issue size, rights entitlement ratio and record date.
The dairy stock rose 10.92 per cent to hit a high of Rs 988.90 on BSE. The stock is up 23 per cent over its 52-week low of Rs 806.10.
The company had on September 19 approved the offer and issuance of fully paid-up equity shares of the company for an amount aggregating up to Rs 400 crores by way of a rights issue. It had constituted the rights issue committee in this regard.
“This intimation 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 about 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 their own infrastructure for milk collection centre and chilling centre for procuring and handling of raw milk. The product range of the company includes Ice cream – Arun ICECREAM ,Make Your Own Sunday, Arun Unlimited. Milk Products includes Hatsun Cooking Butter, Hatsun Cow Ghee , Hatsun Butter Milk , Hutsun Curd , Hutsun Panner.
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