Heritage Foods spikes 12% as board approves rights issue

Heritage Foods will be issuing 4,63,98,000 shares in the issue sized at Rs 23.20 crore.

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Shares of dairy company Heritage Foods soared on September 30 after the company said its board has approved a rights issue in the ratio of 1:1.

Heritage Foods will be issuing 4,63,98,000 shares in an issue sized at Rs 23.20 crore. The promoter and promoter group may subscribe to all unsubscribed shares in the issue, if any, the company said.

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The stock traded up 12 percent at Rs 347 on BSE.

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