Sakuma Exports Launches Rights Issue (Image Source: iStockphoto)
Sakuma Exports Limited has recently made waves in the agro-commodities sector with its groundbreaking announcement of securing a massive contract valued at Rs. 150 Crores. The deal, meticulously crafted by Sakuma Exports, spans across key regions including the North East, West Bengal, and Bihar, cementing the company’s foothold in these markets.
As per the company’s filing on the BSE, “We are pleased to inform you that Sakuma Exports Limited. has successfully entered into a significant contract amounting to approximately Rs.150 Crores for the supply of sugar to the North East, West Bengal, and Bihar regions.”
This strategic move underscores Sakuma Exports’ commitment to fortifying its position as a leading player in the industry. By entering into a comprehensive supply agreement with various vendors, the company is set to streamline its supply chain network, ensuring a consistent and reliable flow of agricultural commodities, ranging from sugar to pulses and grains.
In tandem with this milestone, Sakuma Exports Limited has embarked on a strategic endeavor to raise capital for expansion and investments. Through a Rights Issue, the company aims to offer 78,984,298 shares at an issue price of Rs. 25.3 per share, amounting to a substantial Rs. 199.83 Crores. This initiative, open from April 25 to May 13, 2024, is designed to empower shareholders and fuel the company’s growth trajectory.
With a diversified portfolio and a global presence spanning continents like the USA, Asia, Africa, Europe, Australia, and the Middle East, the company has established strong relationships with clients in the international trading industry.
On Tuesday, the shares of Sakuma Exports closed at Rs 28.35,0.67 per cent up from the previous day’s closing. The 52 week high and low of the share is Rs 30.62 and Rs 11.96 respectively.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. TT Research DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
