Renuka Holdings rights issue raises over Rs 1bn

Renuka-Holding-MD-Rajiyah

S. V. Rajiyah - Managing Director, Renuka Holdings

Dec 17, 2020 (LBO) – Renuka Holdings PLC’s rights issue concluded on the 16 of December raising 1.082 Bn, higher than the required 1.03 Bn for the complete subscription of the offer signaling 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 is to enable the strengthening of the group’s balance sheet and also to fund future investments. As of 31st March 2020, the group turnover was approximately Rs. 8 bn, and total equity stood at Rs. 9.7bn.

Renuka Holdings PLC is the parent company for subsidiaries engaged in Agri-Food Exports, Organic Plantations, FMCG, Dairy, Property & 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 (Pvt) Ltd, Renuka Agri Organics Ltd, Renuka Teas Ceylon (Pvt) Ltd, Kandy Plantations Ltd, Shaw Wallace Ceylon Ltd, Richlife Dairies Ltd, Shaw Wallace & Hedges Ltd and Galle Face Properties Ltd.