The Hindu Business Line : Heritage Foods pref issue

The board of directors of Heritage Foods India Ltd has approved a proposal to issue a preferential issue of 10 lakh shares of Rs 10 each at a premium of Rs 340 to Kotak India Focus Fund of Kotak Mahindra (UK) Ltd. The board, which met on Friday, also approved issuance of eight lakh warrants to Mr N. Lokesh (a promoter of Heritage and the only son of Mr N. Chandrababu Naidu, the former Chief Minister of Andhra Pradesh). Mr Lokesh's mother, Ms N. Bhuvaneshwari, is the Managing Director of the company. The warrants would be issued at the face of value of Rs 10 each at a price of Rs 315 a warrant, the company informed the Bombay Stock Exchange. - Our Bureau

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