The company has approved raising funds by way of issue of securities on a rights basis aggregating up to Rs 900 crore.
Shares of Hatsun Agro Products added nearly 3 percent in the early trade on Thursday as company approved raising funds via right issue.
The company at its meeting held on December 06 has considered and approved raising funds by way of issue of securities to the existing equity shareholders of the company on a rights basis aggregating up to Rs 900 crore.
The board has also constituted a rights issue committee and authorised it to decide the terms and conditions of the rights issue including the nature of security, issue size, issue price, timing of the issue, rights entitlement ratio, record date and all other matters related and incidental to the rights issue in consultation with the lead manager to the rights issue.
At 09:20 hrs Hatsun Agro Products was quoting at Rs 894, up Rs 20.90, or 2.39 percent on the BSE.
The share touched its 52-week high Rs 970 and 52-week low Rs 343.55 on 14 November, 2017 and 09 December, 2016, respectively.
Currently, it is trading 7.94 percent below its 52-week high and 159.93 percent above its 52-week low.Posted by Rakesh Patil