Share Market News: Sakuma Exports Shares Gain After Bagging Rs 150-crore Sugar Supply Contract

The strategic implications of this deal are profound, as it bolsters Sakuma Exports' position as a key player in the agro-commodities landscape.

Share Market News: Shares of Sakuma Exports opened in green on Tuesday amid benchmark equity indices opening in green following strong global market trends. The counter started the session at Rs 28.82 and advanced 5.8% to Rs 29.80 on the BSE after the company said that it had successfully entered into a significant contract amounting to approximately Rs 150 crore for the supply of sugar to the North East, West Bengal, and Bihar regions.

"The Rs. 150 Crore deal, meticulously crafted by Sakuma Exports, encompasses a comprehensive supply agreement with various vendors, solidifying the company's supply chain network and enhancing its market reach. Under the terms of the agreement, Sakuma Exports will procure a diverse range of agricultural commodities, including sugar, pulses, and grains, from its trusted vendors," the company said in a release.

The strategic implications of this deal are profound, as it bolsters Sakuma Exports' position as a key player in the agro-commodities landscape. By securing a consistent and reliable source of high-quality agricultural produce, the company can effectively meet the evolving demands of its customers while ensuring product integrity and adherence to stringent quality standards.

In tandem with its growth initiatives, Sakuma Exports Limited has launched a Rights Issue to raise capital for expansion and strategic investments. The Rights Issue, open from April 25, 2024, to May 13, 2024, offers 78,984,298 shares at an issue price of ₹25.3 per share, amounting to ₹199.83 Crores.

Shareholders on record as of April 15, 2024, are entitled to 33 Rights Equity Shares for every 98 fully paid-up Equity Shares held. The proceeds from the Rights Issue will be utilized to augment working capital requirements and for general corporate purposes, further strengthening the company's operational capabilities and supporting its growth trajectory.

The recent Rs. 150 Crore contract and the launch of the Rights Issue reflect Sakuma Exports' proactive approach to growth and value creation. By capitalizing on emerging opportunities and leveraging its expertise in the agro-commodities space, the company is well-positioned to drive sustainable growth and deliver value to its shareholders and stakeholders.