New Delhi, Oct. 6 -- Sampre Nutritions share price surged to the 2% upper circuit on Monday following the company's recent announcement regarding its fundraising plans. On Saturday, the health and confectionery products manufacturer disclosed that its board had approved a plan to raise Rs.355 crore through foreign currency convertible bonds (FCCBs).

During a meeting on October 3, the board approved the issuance of 400 FCCBs, each valued at USD 100,000, totaling approximately USD 40 million. The funds raised from the FCCBs will be strategically utilized to expand the company's global presence, specifically targeting emerging markets like Egypt and Liberia.

This expansion initiative is expected to not only strengthen Sampre Nutritions' fo...