Mawana Sugars to Acquire Mawana Foods and Brand 'MAWANA' from Usha International for Rs. 5.75 Crores

Mawana Sugars Limited (MSL) has agreed to buy 1,32,77,049 Equity Shares of Mawana Foods Private Limited (MFPL) from Usha International Limited (UIL) for a cash price of Rs. 1.82 per share. This acquisition will make MFPL a wholly owned subsidiary of MSL. Additionally, MSL will acquire the brand 'MAWANA' and all related trademarks and copyrights for a cash consideration of Rs. 5.75 crores. This acquisition is a related party transaction, with the price based on a fair assessment by a SEBI registered Category 1 Merchant Banker. The proposed transactions are expected to be completed by 31.12.2024.