Nomura Singapore has increased its stake in Mishtann Foods, a Gujarat-based FMCG firm, to 1.28 percent. Mishtann is hoping to increase its income by launching new goods in the local market.
Institutional investors from foreign countries are on a shopping spree, in India. Fast-Moving Consumer Goods (FMCG) has become a favorite industry of FIIs. In the most recent round of economic foreign investment, Nomura Singapore has increased its stake in Mishtann Foods once again.
Currently, the Gujarat-based FMCG firm is 1.38 percent owned by the top global financial services organization.
The news comes just after Nomura, according to a regulatory filing, purchased up to 12,825,854 shares of the business, increasing its overall position to 1.28 percent.
Mishtann Foods is hoping to increase its total income by launching a variety of new goods in the local market in light of the interest that international institutional investors are expressing in the industry.
According to Mishtann in a filing with the exchanges, the action is anticipated to help its topline.
The smallcap business, which is now trading on the BSE for roughly Rs 8.50, has a market value of Rs 851 crore. Over the past two years, the counter has provided multibagger returns of over 150%. It announced a Rs. 150 crore rights offering in January of this year.
Mishtann is renowned for its line of agricultural and culinary products. The factory, which processes 100,000 metric tons of rice annually, is close to Ahmedabad. The business has expressed interest in expanding into other areas, such as the states in the Northeast.
Mishtann Foods established a new company in the United Arab Emirates earlier in April as a part of its development strategy to concentrate on international commerce with enhanced exposure in numerous unexplored areas. The corporation has a vast network of more than 40,000 dealers across the nation.
