Heritage Foods Completes Acquisition of 94.40% Shares in Heritage Novandie Foods

Heritage Foods Limited has completed the acquisition of 71,00,000 equity shares of M/s. Heritage Novandie Foods Private Limited for a total consideration of Rs.8.50 crore. This acquisition increases Heritage Foods Limited's shareholding in the Target Company to 94.40% of the total paid-up equity share capital. As a result, M/s. Heritage Novandie Foods Private Limited has become a subsidiary of Heritage Foods Limited. This acquisition has led to the Target Company becoming a deemed public company under the provisions of Section 2(71) of the Companies Act, 2013.