For the exclusive use of its dairy facilities, Heritage Foods generates electricity using solar and wind energy in addition to purchasing and processing milk and milk products. Today, the organisation provides daily service to more than 15 lakh households.
The stock may see considerable excitement as the record date of the correct issuance approaches. January 20, 2023 has been set as the record date for the right issuance of equity shares in a 1:1 ratio.
The business has proposed a rights issue at a price of Rs 5 per share for a total of Rs 2319.90 lakh, which is fascinating given that the stock’s current trading price on the NSE platform is Rs 367. Consequently, the rights issue would be offered at a price that is roughly 98% less than its current market value of Rs 367! You might initially believe this is a misprint or a fantasy, but check yourself—the corporation is indeed providing rights issue at a significant discount.
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The opening date for the Rights issuance is January 30, 2023. Last day to renounce rights and entitlements on the market is February 8, 2023. The closing date for rights issues is February 13, 2023.
The shipment amount of the stock has significantly increased during the previous few trading sessions. 1.95 lakh shares were sent to the stock on January 16 and 1.16 lakh shares were delivered on January 17. The ratio of amount delivered to quantity transacted is 62.50 and 60.53 percent, respectively.
Tell us in the comments if you would choose the rights issue or not.
