Divestment28 Apr 2026, 07:31 am
HMA Agro to Divest Wholly Owned Subsidiaries
AI Summary
HMA Agro Industries Ltd has announced the Board of Directors' approval for the divestment of its entire equity stake in its wholly-owned subsidiaries, FNS Agro Foods Limited and Laal Agro Food Private Limited. The divestment is subject to definitive agreements and customary conditions precedent. FNS Agro Foods Limited's turnover is Nil and net worth is ₹50.71 Million, contributing 0% and 0.64% respectively. The sale is expected to be completed by May 30, 2025. The buyers are part of the promoter/promoter group and related parties. The consideration will be determined based on a valuation report from a registered valuer.
Key Highlights
- HMA Agro to divest its entire stake in FNS Agro Foods Limited and Laal Agro Food Private Limited.
- FNS Agro Foods Limited has a net worth of ₹50.71 Million, contributing 0.64%.
- The proposed sale is expected to be completed by May 30, 2025.
- Buyers are part of the promoter/promoter group and are related parties.
- Consideration will be based on a valuation report from a registered valuer.