Key Quantitative Figures
- Total Issue Size: Rs 53.76 crore
- Number of Warrants: 25.60 crore convertible warrants
- Issue Price: Rs 2.10 per warrant
- Satyam S Joshi HUF Allocation: 14 crore warrants (largest allocation)
- Potential Stake: 11.67% shareholding upon full conversion of 14 crore warrants
- Recent FCCB Conversion: 19 FCCBs converted into 18.18 crore equity shares
Parties Involved
- Issuer: NHC Foods Limited (BSE: 517554, ISIN: INE141C01036)
- Major Allottee: Satyam S Joshi HUF
- Regulatory Authority: BSE Limited
- Management Representative: Mr. Satyam Shirishchandra Joshi, Managing Director (DIN: 03638066)
Terms and Conditions
- Conversion Ratio: 1:1 (each warrant convertible into one equity share)
- Payment Terms: 25% of issue price payable upfront, remaining 75% payable at time of conversion
- Approval Required: Special resolution approval from shareholders at Annual General Meeting
Financial and Operational Context
- The company reported a 924% YoY increase in consolidated net profit in Q1FY27
- Strong revenue growth and higher volumes supported improved profitability
- Company describes itself as a Government Recognised Three Star Export House
- Business includes processing, sourcing and exporting spices, lentils, pulses, grains, oil seeds
- Operates in both domestic and international markets
Strategic Rationale
Management stated the preferential issue demonstrates commitment through greater financial participation and reflects confidence in future opportunities. The capital strengthening supports the company's next growth phase and aligns management interests with shareholders.