Sita Shree Food Products has received an approval for raising of funds through Qualified-Institutions Placement (QIP) of equity shares / Convertible securities or such other securities in one or more tranches up to Rs 20 crore. The board of directors at its meeting held on December 05, 2016, has approved for the same.
The above is however subject to approval of members in general meeting and in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and the Companies Act, 2013 and the rules made there under.
Sita Shree Food Products is engaged in the business of wheat processing and pulse processing. Products are sold in its own brands that are ‘Sita Shree Regular’ and ‘Sita Shree Gold’ or sold to other brands. It is a supplier to major retail players such as Reliance Retail, Pantaloon Retail and Satnam Overseas.
