Sarveshwar Foods Ltd. Board Approves Fund Raise of up to ₹99 Crores
Indian Economy & Market|March 2024
Sarveshwar Foods Limited, a leader in the business of manufacturing, trading, processing, and marketing of branded and un-branded basmati and nonbasmati rice, has announced that the board approved a fund-raise of up to Rs. 98.94 Crores by the way of issue of Up to 10,20,00,000 Fully Convertible Warrants convertible into equal number of Equity Shares of face value of Re. 1/- each, to persons belonging to non-promoter group persons at an issue price Rs. 9.70 per warrant, subject to approval of shareholders and other regulatory authorities, as may be applicable.
Sarveshwar Foods Ltd. Board Approves Fund Raise of up to ₹99 Crores

The company further added that the object of the fundraising is to augment the long-term financial resources in terms of the company’s long-term business growth plans and to augment the long-term financial resources of the Company.

Earlier, the company announced that it is strengthening its procurement channel further by setting up of 2 more SFL Chaupals (Procurement Facilitation Centre) for procurement of Walnuts, Rajma, Apple, Black Morels (Gucchi), Kala Jeera and other authentic Himalayan Delights directly from Farmers in Kulgam and Doda. With these new locations, now Sarveshwar Food is operating 12 SFL Chaupals at various locations across the Jammu and Kashmir Region, 7 in Jammu and 5 in Kashmir.

The Company 

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