Himalaya Food International Limited Achieves 111% Oversubscription in Rights Issue, Outlines Vision for 15% Compounded Growth

Himalaya Food International Limited, a food processing company, has successfully completed its rights issue with promoters oversubscribing by 111%. The company aims for 15% compounded growth every quarter this year, driven by U.S. exports, French fries ramp-up, and expanded domestic sales. The 54,000 TPA French Fry project is set to commence from the new potato crop in February 2025. The company plans to pay off its OTS (One-Time Settlement) of 798.5 Cr by December 2025, eliminating legacy bank debt and improving credit standing. The company is also monetizing its non-core assets to aid in debt repayment.