Sampre Nutritions share price surged to the 2% upper circuit on Monday following the company’s recent announcement regarding its fundraising plans. On Saturday, the health and confectionery products manufacturer disclosed that its board had approved a plan to raise ₹355 crore through foreign currency convertible bonds (FCCBs).
During a meeting on October 3, the board approved the issuance of 400 FCCBs, each valued at USD 100,000, totaling approximately USD 40 million. The funds raised from the FCCBs will be strategically utilized to expand the company’s global presence, specifically targeting emerging markets like Egypt and Liberia.
This expansion initiative is expected to not only strengthen Sampre Nutritions’ foothold in high-growth regions but also diversify its revenue streams and tap into new opportunities in the international FMCG sector. Furthermore, Sampre has recently signed memoranda of understanding (MOUs) with potential revenue of up to ₹45 crore for the manufacturing and supply of nutraceuticals and food products.
