Elpro International Ltd Acquires Sundrop Brands Limited for INR 39.18 Crores

Elpro International Ltd has acquired 5,47,946 equity shares of Sundrop Brands Limited (Formely known as Agro Tech Foods Limited), a public limited company involved in manufacturing, marketing, and selling a wide range of Food Products and Edible Oils. The acquisition was made for a cash consideration of INR 39.18 Crores, increasing Elpro's total holding to 5,56,946 equity shares. Sundrop Brands, established in 1986, has a consolidated turnover of INR 898.87 Crores, INR 759.67 Crores, and INR 849.71 Crores in the last three financial years, respectively. The company is listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and has a presence in India and one plant and office outside India.