Renuka Holdings Rights Issue raises over Rs 1bn

Renuka Holdings PLC’s rights issue concluded on December 16 raising 1.082 Bn, higher than the required 1.03 Bn for 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 will enable strengthening of the group’s balance sheet and also to fund future investments. As at March 31 the Group turnover was approximately Rs. 8 bn and total equity stood at Rs. 9.7bn

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 & 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.

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