Renuka Holdings Rights Issue raises over Rs. 1 b

Friday, 18 December 2020 00:14 - - {{hitsCtrl.values.hits}}

Company says oversubscription cements investor confidence

Renuka Holdings MD S.V. Rajiyah

Renuka Holdings PLC’s rights issue concluded on Wednesday, raising 1.082 higher than the required Rs. 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 31 March 2020 group turnover was approximately Rs. 8 billion and total equity stood at Rs. 9.7 billion.

Renuka Holdings PLC (also known as the Renuka Group) 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.

Among the listed subsidiaries are Renuka Foods PLC, Renuka Agri Foods PLC and Renuka Capital PLC while notable unlisted group companies are Renuka Enterprises (Ltd., Renuka Agri Organics Ltd., Renuka Teas Ceylon Ltd., Kandy Plantations Ltd., Shaw Wallace Ceylon Ltd., Richlife Dairies Ltd., Shaw Wallace & Hedges Ltd. and Galle Face Properties Ltd.

The Directors of the company are I.R. Rajiyah, Dr. S.R. Rajiyah, S.V. Rajiyah, L.M. Abeywickrama, S. Dominic, T.K. Bandaranayake, J.M. Swaminathan, A.L. Rajiyah, V. Sanmugam and J. J. B. A. Rajiyah.