Allotment of 3% CCPS via share swap to acquire SNA Milk and Milk Products

Desi Farms India allotted 6,48,400 3% Compulsorily Convertible Non-Cumulative Preference Shares at Rs. 135 each (Rs. 10 face value plus Rs. 125 premium), totaling about Rs. 8.75 crore. The CCPS were issued to 29 non-promoter shareholders of SNA Milk and Milk Products Limited on a share swap basis to acquire SNA on a fully diluted basis. Shares carry a 3% non-cumulative dividend and will convert into equity later.