Business Update31 Aug 2024, 12:25 am
Tinna Trade Ltd Invests Rs. 36 Crore in Wholly Owned Subsidiary Fratelli Wines Pvt. Ltd
AI Summary
Tinna Trade Ltd, formerly known as Tinna Trade Limited, has invested Rs. 36,78,45,000 in Fratelli Wines Private Limited (FWPL), a wholly owned subsidiary. The investment was made on 30th August 2024 through the acquisition of 685000 equity shares by way of right issue. The issue price was Rs. 537, consisting of Rs. 10 towards nominal value and Rs. 527 towards securities premium. FWPL is engaged in the business of manufacturing, importing, exporting, processing, and selling of wines and alcoholic beverages with a turnover of Rs. 21,556.71 lacs for the financial year ended March 31, 2024. This investment will help FWPL finance its expansion plans.
Key Highlights
- Tinna Trade Ltd invests Rs. 36 crore in its wholly owned subsidiary, Fratelli Wines Private Limited.
- The investment was made through the acquisition of 685000 equity shares at an issue price of Rs. 537 each.
- Fratelli Wines Private Limited is engaged in the business of manufacturing, importing, exporting, processing, and selling of wines and alcoholic beverages.
- The turnover of Fratelli Wines Private Limited for the financial year ended March 31, 2024, is Rs. 21,556.71 lacs.
- This investment will help Fratelli Wines Private Limited finance its expansion plans.