HMA Agro to Divest Entire Stake in Subsidiary FNS Agro Foods

HMA Agro Industries Ltd announced its board has approved the divestment of its entire equity shareholding in its subsidiary, FNS Agro Foods Limited. The transaction involves selling 8,95,593 equity shares, representing 100% of the company's stake in FNS Agro Foods, at a consideration of ₹55.92 per share, aggregating to approximately ₹5,00,81,560.56. This divestment is based on an independent valuation and will result in FNS Agro Foods ceasing to be a subsidiary. The company clarified that this transaction does not constitute the sale of an "undertaking" and FNS Agro Foods is not a "material subsidiary", thus shareholder approval is not required. The agreement is expected to be executed on September 9, 2026, with completion anticipated by September 30, 2026. The buyers are identified as promoters/relatives of promoters.