Allotted 1.07 cr shares on preferential basis via share swap for acquisitions

Fund Raising View source PDF Explain this filing

Price reaction

Awaiting price reaction for this filing.

AI summary

Desi Farms India allotted 1,07,16,800 equity shares at Rs.135 per share (Rs.10 face value, Rs.125 premium), totaling Rs.144.68 crores, on a preferential basis to 32 investors. The shares are issued for non-cash consideration to acquire SNA Milk and Milk Products and DFSU Farmer Connect Private Limited via share swap. MD Sunil Kumar Shahi received 63 lakh shares; NAV Capital Emerging Star Fund received 15.87 lakh shares.

Likely market impact

Dilution for existing holders; expansion via dairy and agri-tech acquisitions funded entirely through share swap, no cash outflow for the company.