Desi Farms acquires 12.39% stake in SNA Milk via Rs 37.88 Cr share swap
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Desi Farms India has acquired 12.39% stake in SNA Milk and Milk Products via share swap worth about Rs 37.88 Crores. The company issued 28 lakh 6 thousand 3% Compulsorily Convertible Non-Cumulative Preference Shares to SNA shareholders. SNA operates in dairy products with FY25 turnover of Rs 33.74 Cr, up from Rs 17.9 Cr in FY23. The deal is a related party transaction since MD Sunil Kumar Shahi is a director in SNA. Desi Farms aims to complete 100% acquisition of SNA going forward.
Strengthens dairy portfolio and diversification. Share swap avoids cash outflow but causes equity dilution. Watch for completion of full 100% acquisition.