LT Foods soars on raising funds aggregating to Rs 399.31 crore

LT Foods Ltd. | Consumer Food | FMCG | BSE: 532783 | NSE: LTFOODS

27 Dec 2017 Evaluate

LT Foods is currently trading at Rs. 88.00, up by 3.60 points or 4.27% from its previous closing of Rs. 84.40 on the BSE.

The scrip opened at Rs. 85.50 and has touched a high and low of Rs. 92.80 and Rs. 85.50 respectively. So far 1145751 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 92.80 on 27-Dec-2017 and a 52 week low of Rs. 26.26 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 92.80 and Rs. 84.00 respectively. The current market cap of the company is Rs. 2886.60 crore.

The promoters holding in the company stood at 67.16%, while Institutions and Non-Institutions held 3.76% and 29.08% respectively.

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.