Corporate News
Krishival Foods Limited announced that its board approved a long-term lease of land adjacent to its existing factory and authorized an additional corporate guarantee of Rs 35 crore in favor of lenders/financial institutions for a credit facility to be availed by its subsidiary, Melt ‘N’ Mellow Foods Private Limited. The board also decided to partially utilize funds from a previous rights issue, providing a Rs 25 crore loan to Melt ‘N’ Mellow Foods Private Limited for strengthening its cold chain by deploying 10,000 additional deep freezers, and approved an additional loan of Rs 10 crore for future working capital requirements, while simultaneously discontinuing the previously approved acquisition of additional equity shares in Melt ‘N’ Mellow Foods Private Limited.