Investment1 Jun 2026, 07:41 pm
NHC Foods Invests $24.3 Mn in UK Subsidiary
AI Summary
NHC Foods Ltd has approved an investment of USD 24,295,000 (approximately ₹258 crore) in its wholly-owned foreign subsidiary, NHC FOODS UK LIMITED. This investment will result in the allotment of 18,043,000 new ordinary shares of £1.00 each by the UK subsidiary to NHC Foods Ltd. The investment is part of the utilization of proceeds from Foreign Currency Convertible Bonds (FCCBs) as outlined in the offering circular dated May 27, 2026.
Key Highlights
- NHC Foods invests $24.3 Mn in NHC FOODS UK LIMITED.
- Investment is funded by Foreign Currency Convertible Bonds (FCCBs).
- NHC Foods will be allotted 18,043,000 new ordinary shares in the UK subsidiary.
- The indicative time for completion of the acquisition procedure is approx. 10-15 days.