Suryo Foods Approves Rights Issue Of Rs 60 Million

Suryo Foods and Industries Ltd, engaged in food processing and allied businesses, announced that its board has approved a rights issue worth up to Rs 60 million. The move is part of the company’s strategy to bolster financial resources and ensure long-term sustainability. Rights issues allow existing shareholders to subscribe to new shares at a predetermined price, thereby reinforcing investor participation and confidence.  

Key highlights from the announcement include 

• Rights issue size approved up to Rs 60 million.  
• Funds will be utilized to strengthen working capital and support expansion initiatives.  
• Existing shareholders will have preferential rights to subscribe proportionately.  
• The move reflects the company’s focus on enhancing liquidity and financial flexibility.  
• Industry experts note that rights issues are a common route for mid-sized firms to raise capital efficiently.  
• The initiative underscores Suryo Foods’ confidence in its growth trajectory and market positioning.  

This rights issue marks a significant step in Suryo Foods’ financial strategy, offering shareholders a chance to participate in the company’s expansion journey while reinforcing its capital structure.  

Sources: Reuters, Economic Times, Business Standard