Sarveshwar Foods bags a 127 million order after stock split, bonus

Sarveshwar Foods has bagged an order from KRIBHCO, a national level multi-state cooperative society. The order is worth Rs 127 million or Rs 12.7 crore for supplying non-basmati white rice. The company informed about the same through an exchange filing on Monday.

KRIBHCO is a multi state co-operative society acting as a catalyst to agriculture and rural development by selecting, financing and managing projects that are both socially desirable and commercially profitable, as a part of long-term tie-up for supply.

Sarveshwar Foods engaged in the business of manufacturing, trading, processing, and marketing of branded and unbranded basmati and non-basmati rice in the domestic and international markets. It has a full range of organic products, with the brand name ‘Nimbark'.

The Jammu-based company is an ISO and USFDA certified company. It 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 listed on both BSE and NSE.

Shares of Sarveshwar Foods settled 2 per cent lower to Rs 4.90 on Tuesday, with a total market capitalization of close to Rs 480 crore. The stock has rallied about 135 per cent in March 2023. The stock had settled at Rs 4.99 in the previous trading session on Monday.

The stock had traded ex-split and ex-bonus in the previous month. The FMCG company had announced a stock split in 1:10 ratio, splitting the face value from Rs 10 to Re 1 each. The company issued bonus shares in a 2:1 ratio for the investors.

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