Branded dairy products player Heritage Foods Ltd on September 21 said its board of directors will meet on September 30 to consider raising of funds via rights issue.
"A meeting of the board of directors of the company is scheduled to be held on Friday, 30th September, 2022, at the registered office of the company at Hyderabad," the company informed the stock exchanges.
The meeting has been called to "consider and approve inter alia raising of funds by way of issue of equity shares on a rights issue basis under applicable laws, rules, regulations thereof and subject to such regulatory/statutory approvals as may be required", the regulatory filing added.
In the quarter ending June 2022, Heritage Foods had reported a net profit of Rs 7.3 crore. The company's revenue, during the same period, climbed by 27 percent year-on-year to Rs 820.9 crore.Shares of Heritage Foods traded at Rs 320.30 apiece at the end of market hours at the BSE, which was 1.46 percent lower as compared to the previous day's close. At the NSE, the share value ended at Rs 319.30, which was 1.81 lower as against the last closing price.