Letter of Offer – Rights Issue for Kanara Consumer Products

Kanara Consumer Products Ltd. has issued a Letter of Offer for a rights issue of equity shares to its existing shareholders.

Offer

• The company is offering 7,44,022 equity shares with a face value of ₹10 each at par, totaling ₹74,40,220, as approved by Board of Directors, in its meeting on January 16, 2025.
• The issue allows eligible shareholders to subscribe to 1 equity share for every 19 shares held as of the record date, February 21, 2025.

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Objects of the offer

• Following the divestment of its core Kurlon segment, the company is strategically expanding into the real estate and infrastructure sector, focusing on the development, acquisition, sale, and leasing of immovable properties, as well as the construction of warehouses, workshops, residential and commercial spaces, roads, tramways, and bridges.
• To support this diversification and fund its expansion, the company requires additional capital and has decided to offer shares to its existing shareholders through a Rights Issue.