Hatsun Agro To Raise Rs 5000 Crore Via QIP

Hatsun Agro Products, on Thursday, post market hours, announced that the board of directors have approved raising of funds by the issue of equity shares via Qualified Institutional Placement (QIP) for an aggregate amount not exceeding Rs 500 crore.

The company in its filing to the Exchanges said that, the board of directors have declared an interim dividend of Rs 3 per equity share or 300% (face value of Rs 1 per share) for the financial year ended on March 31, 2017.

The filing also added that the record date has been set to May 8, 2017, and the second interim dividend will be paid on or before May 16, 2017.

Hatsun Agro Products Limited is engaged in the business of manufacturing and selling of milk, milk products and ice creams. The company's dairy products include dairy whitener, skimmed milk powder, ghee, milk, curd, paneer and ice creams, among others.

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