Renuka Holdings raises over Rs.1bn via fully subscribed rights issue

Renuka Holdings PLC’s rights issue concluded on Wednesday, raising Rs.1.08 billion, higher than the required 1.03 billion for complete subscription of the offer, signalling strong investor confidence. 

This rights issue was carried out via online channels, facilitated by the Colombo Stock Exchange. 

The managers to the rights issue were Capital Alliance Partners Ltd, while the registrars were the Central Depository System. The proceeds of the rights issue will enable strengthening of the group’s balance sheet and also to fund future investments. 

As at March 31, 2020, the group turnover was approximately Rs.8 billion and the total equity stood at Rs.9.7 billion.

Renuka Holdings PLC is a diversified organisation listed on the Colombo Stock Exchange and is the parent company for subsidiaries engaged in agri food exports, organic plantations, FMCG, dairy, property and investment, tracing its roots to the year 1866.