₹15 per share. The company board also fixed a record date for the Mishtann Foods rights issue on 20th March 2024. So, those who held Mishtann Foods shares on 20th March after the market close are eligible to participate in this right offer of Mishtann Foods Ltd.
As Mishtann Foods share price today is above ₹20, the issue is available at a lucrative over 25 percent premium. So, investors might get attracted to this rights offer made by the FMCG company. 1] Mishtann Foods rights issue date: The issue has opened on 2nd April 2024 and will remain open till 16th April 2024.
2] Mishtann Foods rights issue price: The board of directors of the FMCG company has fixed the rights issue price at ₹15 per share. 3] Mishtann Foods rights issue entitlement ratio: As per the details shared by the company with LiveMint, an eligible shareholder will be entitled to get one right issue for every 31 Mishtann Foods shares held on Mishtann Foods rights issue record date i.e. on 20th March 2024.
4] Mishtann Foods rights issue size: The company aims to issue rights not exceeding ₹49.82 crore. Advising eligible shareholders to apply for the Mishtann Foods rights issue, Vaibhav Kaushik, Research Analyst at GCL Broking said, "The FMCG sector is one of the fast-growing segments in the Indian stock market. The fundamentals of the company are also strong as the company has managed to improve its assets and revenue in recent fiscals.
Apart from this, the company has managed to win the faith of FPIs and ace Indian investors. Despite all these strong points, the company has offered its rights issue at around 25 percent premium. So, one can participate in this rights issue with ease." Ace investor Ajay Upadhyaya has picked a stake in Mishtaan Foods Ltd.
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