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Hatsun Agro Product has decided to raise ₹30 crore through issue of equity shares on preferential basis and consider diversifying its product base.
The company plans to issue shares of face value of ₹1 at ₹300 a share to non-promoter individuals, subject to shareholders approval. The funds will be used to meet working capital requirement and capital expenditure.
The dairy company which produces and markets Arokya brand of liquid milk and a wide range of dairy products under the Hatsun brand also plans to carry out on experimental basis production and sale of a range of ready-to-eat food items. A commercial decision will be taken at a later date, it said.
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