Sampre Nutritions Ltd Plans Strategic Fundraising Initiative to Drive Growth and Expansion

Business Standard

3 hours ago

PNN
New Delhi [India], June 21: Sampre Nutritions Ltd (BSE: 530617), a leading confectionery manufacturer, has proposed fund raising initiative through various modes such as preferential issue. Communicated earlier this year to BSE, the company is likely to hold Board of Directors meeting in near future, for the shareholders to consider and approve plans for raising funds via issuance of eligible securities.
The proposed capital raise may involve issuance of eligible securities of the company, in one or more ways, through public and/or private offerings, including by way of preferential issue, qualified institutions placement and / or further public offering, subject to such approvals as may be required, including approval of the shareholders of the Company. The aim is to strengthen the company's financial structure and support its ongoing expansion and diversification efforts.
The management of the company commented "This is an important step in our journey as we explore ways to expand operations, extend market penetration, and invest in long-term growth. The fundraising initiative highlights our commitment towards building a stronger, more resilient future at Sampre Nutritions Limited"
As part of the process, the Board will also consider convening an Extraordinary General Meeting (EGM) or initiating a postal ballot to seek shareholder approval.
Earlier in April 2024, the company successfully allotted 17 lakh equity shares at Rs 36 each following the conversion of warrants issued on a preferential basis.
On October 14, 2024, the Board approved the conversion of 85 Foreign Currency Convertible Bonds (FCCBs), originally allotted on June 28, 2024, into equity shares. This resulted in the allotment of 1,19,42,116 fully paid-up equity shares of face value of Rs 10 at a conversion price of Rs 59.84 per share, increasing the company's paid-up capital to Rs. 2.09 crore comprising of 20,91,212 equity shares of face value of Rs. 10 each.
Subsequently, in October 2024, the company received in-principle approval from BSE for listing of 89,91,711 equity shares of face value of Rs 10 each at a price of Rs 59.84 per equity share. Along with this, the company also received approval for issuance of 10,00,000 warrants convertible into equity shares of face value of Rs 10 each at a price of Rs 60.50 per equity share on a preferential basis.
In November 2024, the company approved the allotment of 8,40,000 warrants on a preferential basis to non-promoters at a price of Rs 60.50 per warrant, each convertible into one equity share of face value Rs 10.
Highlights:
-Board to consider multiple fundraising paths, including QIP, preferential issue and others
-Financial results for FY25 show revenue stability at Rs 25.12 crores
-The company was awarded the Certificate of Recognition under the India 5000 Best MSME Awards 2024 for QUALITY EXCELLENCE
The company was also awarded the Certificate of Recognition under the India 5000 Best MSME Awards 2024 for excellence in quality, customer satisfaction, and societal impact.
The company recently announced its Q4 FY25 and FY25 consolidated financial result. The consolidated revenue from operations remained stable at Rs 25.12 crore. The company reported a consolidated net loss of Rs 7.67 crore, mainly on account of investment into subsidiaries and higher finance costs. For Q4 FY25, company reported revenue of Rs 7.76 crore, a growth from Rs 4.76 crores reported in Q4 FY24.
About Sampre Nutritions Ltd:
Incorporated in 1991 and headquartered in Medchal, Telangana, Sampre Nutritions Ltd is engaged in manufacturing complete range of confectionery, eclairs, candies, lollipops, toffees, powder and centre filled products. The company is instrumental to deliver the growing volumes for most of the MNC's and beside producing its own brand. The group is one stop shop for complete range of confectionary productions. It has multiple MNC's as their clients as Mondelez India Pvt Ltd, Perfetti Van Melle, Reliance, DS Group, Nestle to name a few... The promoter is also the President for Indian Confectionery Manufacturers Association and is into the industry for the past 4 decades
Sampre Nutrition is the first ISO certified company in South East Asia in this category since 1995 and is the 1st HACCP Certified Company by BVQI and FSSA Version 6 certified company with receiving Multiple Quality Awards World Wide. Further the company is associated with Mondelez India Pvt Ltd for manufacturing Eclairs for the past 30 Years and the Sole Manufacturer for Eclairs for the past 8 years for India, China and South African Market.