Sarveshwar Foods Limited, a leader in the business of manufacturing, trading, processing, and marketing of branded and un-branded basmati and non-basmati rice, has announced that the board approved a fund-raise of up to Rs. 98.94 Crores by the way of issue of Up to 10,20,00,000 Fully Convertible Warrants convertible into equal number of Equity Shares of face value of Re. 1/- each, on preferential basis, to persons belonging to non-promoter group persons at an issue price Rs. 9.70 per warrant, subject to approval of shareholders and other regulatory authorities, as may be applicable.
The company further added that the object of the fund raising is to augment the long-term financial resources in terms of the company’s long-term business growth plans and to augment the long-term financial resources of the Company.
Earlier, the company announced that it is strengthening its procurement channel further by setting up of 2 more SFL Chaupals (Procurement Facilitation Centre) for procurement of Walnuts, Rajma, Apple, Black Morels (Gucchi), Kala Jeera and other authentic Himalayan Delights directly from Farmers in Kulgam and Doda. With these new locations, now Sarveshwar Food is operating 12 SFL Chaupals at various locations across the Jammu and Kashmir Region, 7 in Jammu and 5 in Kashmir.
Sarveshwar Foods Limited (SFL) is an ISO 22000:2018 and USFDA (United States Food and Drug Administration) certified company. SFL also has BRC (biggest global standard for food safety), Kosher, NPPO USA & CHINA along with NOP-USDA Organic certifications for its products. The Company is engaged in the business of manufacturing, trading, processing, and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets. Our operations are based out of the Jammu Region in the State of Jammu and Kashmir. SFL has sustainable and eco+ ve legacy of serving healthy and tasty rice for more than 130 years and in last couple of decades proliferated its heritage to other premium categories of FMCG and Organic products.
SFL belongs to the lands in foothills of Himalayas which is nourished by fertile mineral-rich soil, organic manure and snow melted waters of river Chenab, wherein without using any artificial fertilizers and chemicals, they produce full range of ‘ORGANIC’ products, being sold with brand name ‘NIMBARK’-conceptualised to spread the philosophy of the ‘SATVIK’ conscious lifestyle. With an ambition to help every Indian household get access Company’s quality organic products at reasonable price points, Sarveshwar Foods Limited, and its wholly owned subsidiary Himalayan Bio Organic Foods Limited has devised, and executing a detailed plan to double the number of their Nimbark Signature Stores, Retail Counters and Presence on all other Marketplaces in coming few quarters.
To sell its products, SFL has adopted 3-way strategies, first through conventional channels, another to have its own retail outlets, and to tap young and tech-savvy generations’ growing tendency of buying products online. SFL is the first private sector NSE and BSE listed food company in Jammu & Kashmir (BSE: 543688, NSE: SARVESHWAR)