LT Foods has received an approval for the allotment of 53,100,000 Equity Shares to eligible qualified institutional buyers at the issue price of Rs 75.20 per Equity Share, aggregating to around Rs 399.31 crore.
Pursuant to the allotment of Equity Shares in the QIP, the paid-up equity share capital of the company stands increased to Rs 319,844,780 comprising of 319,844,780 equity shares of face value of Rs 1 each. The board of directors at their meeting held on December 26, 2017, has approved for the same.
LT Foods is a branded specialty foods company. It is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market.
