Moneycontrol
Last Updated : Jan 04, 2018 02:23 PM IST | Source: CNBC-TV18

Money from QIP will be used to improve balance sheet and for growth: LT Foods

LT Foods is up over 50 percent in last three months. In an interview to CNBC-TV18, Ashwani Kumar Arora, MD & CEO of the company spoke about the qualified institutional placement (QIP) and discussed company's growth outlook.

CNBC TV18 @moneycontrolcom

LT Foods is up over 50 percent in last three months. In an interview to CNBC-TV18, Ashwani Kumar Arora, MD & CEO of the company spoke about the qualified institutional placement (QIP) and discussed company's growth outlook.

Arora said we have seen a strong response for Rs 400 crore QIP.

He further said that the money from QIP will be utilised to improve balance sheet and for future growth.

Talking about business, he said the demand for branded rice is increasing.

On debt front, he said the company is looking to reduce debt by Rs 150 crore.

According to him, raw material cost will go up going ahead.

Watch accompanying video for more details.
First Published on Jan 4, 2018 02:12 pm

tags #Business

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