Acquisitions20 Mar 2026, 06:31 pm
Nagarjuna Agri Tech Acquires Allenby Food & Beverages Through Equity Swap; CEO Position Vacant
AI Summary
Nagarjuna Agri Tech Ltd has allotted 2,12,86,020 equity shares on a preferential basis by swapping against 14,19,068 Equity Shares of Allenby Food & Beverages Private Limited. This swap has resulted in Allenby Food & Beverages Private Limited becoming a 100% subsidiary of the company. The company had earlier considered and appointed Mr. Biswanath Bhattacharya as Chief Executive Officer (CEO) at the Board meeting held on 05 February, 2026. However, due to medical grounds, Mr. Bhattacharya will not be able to accept the position, leaving the CEO position vacant.
Key Highlights
- Nagarjuna Agri Tech has allotted 2,12,86,020 equity shares on a preferential basis.
- The shares have been swapped against 14,19,068 Equity Shares of Allenby Food & Beverages Private Limited.
- Allenby Food & Beverages Private Limited has become a 100% subsidiary of Nagarjuna Agri Tech.
- Mr. Biswanath Bhattacharya was considered and appointed as CEO of the Company, but the position remains vacant due to his inability to accept the position.
- The acquisition falls within related party transaction and the promoter/ promoter group/ group companies are interested in the entity.