Alka India Ltd to Acquire Major Stakes in Seven Companies for Consideration Other Than Cash

Alka India Ltd has entered into Share Purchase Agreements to acquire 100% stakes in Mementos Foods Limited, Satyarath Foods Private Limited, Kostub Foods, Neurich Nutrifoods Limited, Phycus Nutrifoods Limited, Philimont Nutrifoods Limited, and Grefos International Private Limited. The acquisition will be through the issuance and allotment of equity shares on a preferential basis to the shareholders of the respective companies. The deals are subject to approval from regulatory/statutory authorities and the members of Alka India Ltd. Upon completion, all seven companies will become wholly owned subsidiaries of Alka India Ltd. The total number of equity shares to be issued and allotted on a preferential basis is 20,53,39,695.