Key Developments: Amira Nature Foods Ltd (ANFI.N)
8.56USD
18 Jun 2013
$0.27 (+3.26%)
$8.29
$8.33
$8.83
$8.33
10,973
20,991
$10.24
$6.32
Latest Key Developments (Source: Significant Developments)
Amira Nature Foods Ltd Issues FY 2014 Guidance In Line With Analysts' Estimates
Amira Nature Foods Ltd announced that for fiscal 2014, it expects revenue to increase in the range of $480-$507 million and EBITDA in the range of $62-$66 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $491 million, EBITDA of $65 million for fiscal 2014. Full Article
Amira Nature Foods Ltd Enters United Kingdom With Amira Branded Products
Amira Nature Foods Ltd announced that it has launched Amira branded products in the United Kingdom. This marks the Company's first sales into the UK market with five products across over 2,230 retail distribution points. Full Article
Amira Nature Foods Ltd Announces $48 Million Contract With Repeat Customer
Amira Nature Foods Ltd announced that it entered into a $48 million contract to supply third party branded basmati rice to a key repeat customer in the Europe, Middle East, and Africa ("EMEA") region. Full Article
Amira Nature Foods Ltd's Subsidiary Secures Contract
Amira Nature Foods Ltd announced that subsidiary, Amira Pure Foods Private Limited, has entered into an agreement with a new South Korean customer to supply Indian medium short grain specialty rice for approximately $8.0 million, thereby making first entry into the South Korean market. The $8.0 million of revenue under the contract is expected to be recognized in the first and second quarter of fiscal year ending March 31, 2014. Full Article
Amira Nature Foods Ltd Issues FY 2013 Guidance In Line With Analysts' Estimates
Amira Nature Foods Ltd announced that for fiscal 2013, it expects revenue in the range of $405 million to $410 million, an increase of approximately 23% to 25% compared to fiscal 2012, and EBITDA in the range of $50 million to $52 million, an increase of approximately 25% to 30% compared to fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $407 million, EBITDA of $51 million for fiscal 2013. Full Article
Amira Nature Foods Ltd Announces Executive Management Change
Amira Nature Foods Ltd announced that the Company's Chief Financial Officer, Ritesh Suneja, will resign for health and personal reasons, effective December 1, 2012. The Company’s Board of Directors has named Ashish Poddar, currently Executive Director of Finance, as Chief Financial Officer, effective the same date. Mr. Suneja will be working closely with Mr. Poddar over the next few weeks to ensure an orderly transition. Full Article
Amira Nature Foods Ltd Reaffirms FY 2013 And Long Term Guidance
Amira Nature Foods Ltd announced that the Company is on track to deliver its fiscal 2013 and long-term growth target guidance provided during the time of the IPO which is greater than 20% revenue growth, 25% EBITDA growth and greater than 30% earnings per share growth. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $378 million, EBITDA of $44.3 million and EPS of $0.57 for fiscal 2013; revenue of $453 million, EBITDA of $57.45 million and EPS of $0.94 for fiscal 2014; revenue of $539.45 million, EBITDA of $73.40 million and EPS of $1.22 for fiscal 2015. Full Article
Amira Nature Foods Ltd Announces Pricing Of Its Initial Public Offering
Amira Nature Foods Ltd announced the pricing of its initial public offering of 9,000,000 ordinary shares at $10.00 per share. The shares will be listed on the New York Stock Exchange and traded under the symbol "ANFI" beginning October 10, 2012. The underwriters have a 30-day option to purchase up to an additional 1,350,000 shares from the Company to cover over-allotments. UBS Securities LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers of this offering. Jefferies & Company, Inc. is acting as lead manager and KeyBanc Capital Markets Inc. is acting as co-manager. Full Article
Amira Nature Foods Ltd Sets IPO Price Range At $13-$15 per share-Reuters
Reuters reported that Amira Nature Foods Ltd said it expects to sell nine million ordinary shares for between $13 and $15 each in its Initial Public Offering (IPO). At the mid-point of the expected price range, the IPO will raise $126 million. Amira expects to receive $113 million, after deducting underwriting commissions and offering expenses. UBS Investment Bank and Deutsche Bank Securities are lead underwriters to the offering. The Company plans to use about $110 million of the proceeds to fund the purchase by Amira Mauritius of equity shares of Amira India pursuant to the share subscription agreement. The Company plans to list its ordinary shares on New York Stock Exchange under the symbol "ANFI." Full Article
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