Sarveshwar Foods , a prominent player in the basmati and non-basmati rice industry, has successfully concluded its rights issue, raising Rs. 149.95 crores and marking a significant milestone in the company's financial journey.

Rights Issue Details

The rights issue, which closed on September 16, offered 24,99,10,469 equity shares at Rs. 6.00 per share, including a premium of Rs. 5.00 per share. The issue was met with overwhelming response from investors, resulting in an oversubscription of 1.35 times. The company received subscriptions for 33,85,67,058 shares, surpassing the initial offering.

Key Highlights

Utilization of Funds

According to the company's Letter of Offer dated August 21, the funds raised through this rights issue will be primarily used for:

1. Augmenting existing and incremental working capital requirements
2. General corporate purposes

Listing and Allotment

The allotment and listing formalities for the new shares are expected to be completed as follows:

• BSE Listing: On or about Wednesday, September 17
• NSE Listing: On or about Friday, September 19

Management Commentary

Mr. Rohit Gupta, Chairman of Sarveshwar Foods Limited, expressed his gratitude towards the shareholders, stating, "I express my sincere thanks to our dear and esteemed shareholders for participating in this Rights Issue and making it a new and proud landmark in the history of India's capital market. Our shareholders have always been our biggest source of strength."

Company Profile

Sarveshwar Foods Limited is an ISO 22000:2018 and USFDA certified company engaged in the manufacturing, trading, processing, and marketing of branded and unbranded basmati and non-basmati rice. The company operates primarily in Jammu & Kashmir and Gujarat, serving both domestic and international markets.

Key features of Sarveshwar Foods Limited include:

• BRC, Kosher, NPPO USA & CHINA, and NOP-USDA Organic certifications
• A legacy of over 130 years in the rice industry
• Expansion into premium FMCG and organic products under the brand name 'NIMBARK'
• Multi-channel sales strategy including conventional channels, retail outlets, and e-commerce platforms

As the first private sector NSE and BSE listed food company in Jammu & Kashmir, Sarveshwar Foods Limited continues to strengthen its position in the market with this successful rights issue, paving the way for future growth and expansion.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult financial advisors before making investment decisions.

Sarveshwar Foods , an emerging player in the FMCG sector known for its premium basmati rice from the Himalayan foothills, has announced a significant development in its export business. The company, along with its subsidiary Sarveshwar Overseas Ltd., has secured four major export contracts worth INR 631.00 million from Singapore-based Swan International Pte Ltd for the supply of premium Indian parboiled rice.

Export Deal Details

The export order, which spans various rice varieties, marks a substantial milestone for Sarveshwar Foods, reinforcing its position in the global rice export market. Swan International Pte Ltd, the Singapore-based buyer, is described as an agriculture supply chain company engaged in storage warehousing, processing, and transportation of agricultural produce.

Management's Perspective

Mrs. Seema Rani, Director of International Business at Sarveshwar Foods, expressed confidence in the company's growth trajectory, stating, "Securing export orders of this scale from a reputed international buyer is a strong validation of our global competitiveness, supply chain strength, and uncompromising quality standards. This deal accelerates our growth trajectory in high-margin export markets."

She further added, "These contracts are a testament to our long-term relationships, execution capabilities, and our brand's growing equity in the international marketplace. With rising global demand for Indian rice, we are confident of building upon this momentum to scale newer milestones."

Company Profile

Sarveshwar Foods Limited is an ISO 22000:2018 and USFDA certified company, specializing in basmati rice from the Himalayas. The company's operations are primarily based in Jammu & Kashmir and Gujarat. With a legacy spanning over 130 years, Sarveshwar Foods has expanded its product range to include other premium FMCG and organic products.

The company markets its organic product line under the brand name 'NIMBARK', which is conceptualized to promote a 'SATVIK' conscious lifestyle. Sarveshwar Foods employs a multi-channel sales strategy, including conventional channels, its own retail outlets, and e-commerce platforms such as Amazon and Flipkart, as well as its website www.nimbarkfoods.com .

Market Impact

This significant export order is expected to bolster Sarveshwar Foods' position in the international market and potentially impact its financial performance positively. The deal not only validates the company's product quality and operational capabilities but also aligns with the growing global demand for Indian rice.

As Sarveshwar Foods continues to expand its global footprint, investors and market watchers will likely keep a close eye on the company's future performance and growth strategies in the competitive FMCG and rice export sectors.