Acquisitions28 Jan 2025, 01:15 am
Hatsun Agro Product Ltd. Completes 96.79% Stake Acquisition in Milk Mantra Dairy for Rs. 229.40 Crores
AI Summary
Hatsun Agro Product Ltd. (HAP) has successfully completed the acquisition of 30,16,512 equity shares of Rs. 10/- each and 16,06,372 compulsorily convertible preference shares of Rs. 10/- each of Milk Mantra Dairy Private Limited (Target Company) from its existing promoters and shareholders. The total purchase consideration was Rs. 229.40 Crores, which has been disbursed to all shareholders as per the Share Purchase Agreement (SPA). This acquisition represents 96.79% of the current issued and paid-up equity and preference share capital of the Target Company, thereby making the Target Company a subsidiary of HAP.
Key Highlights
- Hatsun Agro Product Ltd. (HAP) has completed the acquisition of 96.79% stake in Milk Mantra Dairy Private Limited (Target Company) for Rs. 229.40 Crores.
- The acquisition includes 30,16,512 equity shares of Rs. 10/- each and 16,06,372 compulsorily convertible preference shares of Rs. 10/- each of the Target Company.
- The purchase consideration has been disbursed to all shareholders as per the Share Purchase Agreement (SPA).
- This acquisition makes the Target Company a subsidiary of HAP.
- The acquisition represents 96.79% of the current issued and paid-up equity and preference share capital of the Target Company.