2:1 Bonus Issue, 1:10 Stock Split: Multibagger Penny Stock Gains On New Update

Small cap company operating in the FMCG sector, Sarveshwar Foods Ltd shares hit upper circuit and 52-week high in trade today after the company announced opening of its new corporate office in New Delhi. Current market price of Sarveshwar Foods shares on BSE is Rs 14.30 apiece with intraday fall of 4.60%. Sarveshwar Foods shares gave return of over 98% in last 1-month span. Check details below:

Sarveshwar Foods Announces Opening of Corporate Office In Delhi: The company said, "This expansion marks a strategic milestone in our journey, reflecting our growth, resilience and Commitment to Excellence as we broaden our operational footprint to better serve our stakeholders and enhance our market presence. The new corporate office in New Delhi complements our existing offices in Jammu & Kashmir and Mumbai, strengthening our regional connectivity and enabling more efficient business operations."

Sarveshwar Foods Shares Performance & Return: The 52-week high price of Sarveshwar Foods shares on BSE is Rs 15.73 apiece and 52-week low price is Rs 2.07 apiece, respectively. The company has a market capitalisation of Rs 1,398.73 crore. Sarveshwar Foods shares gained 143% year-to-date (YTD), zoomed 206% in last 3-months, and offered return of 418% in last 1-year.

Sarveshwar Foods Approves Fundraising: Earlier on Feb 22, the company issued a BSE filing stating, "considered and approved fundraising to boost the long-term financial resources by issuing and allotting up to 10,20,00,000 (Ten Crores and Twenty Lakhs Only) fully Convertible Warrants ('Warrants'), carrying a right exercisable by the Warrant holder to subscribe to one Equity Share having face value of Re.1/- per Warrant, to persons belonging to "Non-Promoter, Public Category", as detailed in Annexure-I, on preferential basis at an issue price of Rs. 9.70/- (Nine Rupees and Seventy Paisa Only) per Warrant, which is higher than the floor price determined in accordance with the provision of Chapter V of SEBI ICDR Regulations, payable in cash for aggregating amount of up to Rs. 9,894 Lakhs, subject to approval of shareholders and other regulatory authorities, as may be applicable."

Sarveshwar Foods Schedules EGM: As per the regulatory filing of the company dated Feb 23, "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose the Notice of the Extra Ordinary General Meeting of our company which is scheduled to be held on Saturday, the 16th Day of March, 2024."

Sarveshwar Foods Q3 Financials: The company for the quarter ended December 31, 2023 declared a surge of 186.05% in its net profit to Rs 4.92 crore as compared to Rs 1.72 crore net profit in the corresponding quarter of last year. The company announced a jump of 24.72% in its sales to Rs 229.38 crore for the December 2023 quarter as compared to Rs 183.91 crore declared in the similar quarter of last year.

The company earlier this year on January 8, 2024 declared that it has been granted 1 "Geographical Indication"( GI) tag in Jammu & Kashmir for Basmati Rice by APEDA ( Ministry of Commerce & Industry, Govt. of India). With this, Sarveshwar Foods limited became the 1st and only company based in Jammu and Kashmir region which has the GI tag for Basmati rice for export purposes.

Sarveshwar Foods Bonus Issue In 2023: The board of directors of Sarveshwar Foods in 2023 declared bonus share in the ratio of 2:1 and set September 15 as record date.

Sarveshwar Foods Stock Split In 2023: In 2023, it also announced sub-division/split of company's 1 (one) Equity Shares of the Company having a face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re. 1 each. The record date for stock split was September 15 as well.

Sarveshwar Foods About: The Company is engaged in the business of manufacturing, trading, processing, and marketing ofbranded and un-branded basmati and non-basmati rice in the domestic and international markets.Our operations are based out of the India's Jammu Region. SFL hassustainable and eco+ve legacy of serving healthy and tasty rice for more than 130 years and in last couple of decades proliferated its heritage to other premium categories of FMCG and Organic products. SFL belongs to the lands in foothills of Himalayas which is nourished by fertile mineral-rich soil,organic manure and snow melted waters of river Chenab, wherein without using any artificial fertilizers and chemicals, they produce full range of 'ORGANIC' products, being sold with brandname 'NIMBARK'- conceptualized to spread the philosophy of the 'SATVIK' conscious lifestyle.

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