Bulk Deal Data: Mishtann Foods promoter ups stake through open market purchase

Mishtann Foods Ltd. by means of BSE filing data informed that the promoter & director of the company Hiteshkumar Patel has hiked his stake in the company through open market purchase. Hiteshkumar picked up 200000 shares on 15 November, 2022, brining his stake to 49.30% post his market purchase.

Mishtann Food has recently announced plans to set up a 1,000 Kilolitres Per Day (KLPD) grain-based ethanol manufacturing facility in Gujarat.

Mishtann Foods has informed that it has executed a Memorandum of Understanding (MoU) with the Government of Gujarat for setting up India's biggest Grain Based Ethanol project of 1000 KLPD in Gujarat. The proposed project is likely to incur a cost of Rs 2,250 to the company, with an estimated annual revenue projection of Rs 3,500 crore for the company. Mishtann is aiming to commence the operations of the plant from the second quarter of 2024, an official statement said.

The company is planning to set up its manufacturing facility in Dalpur village of Sabarkantha district of Gujarat.