Please find attached the outcome of board meeting held today.
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Desi Farms India Ltd (formerly SER Industries) held a board meeting on January 20, 2026 and approved several major items. The board redesignated Mr. Sunil Kumar Shahi as Managing Director and Chairman for 5 years, appointed Mr. Shrenik Rajiv Karnawat as CFO, and brought on Mr. Ayush Munnalal Sharma as an Additional Independent Director. It also approved hiking the authorised share capital from Rs. 6 crore to Rs. 46 crore to create room for new issuances. The biggest decisions are two 100% share-swap acquisitions: SNA Milk and Milk Products Limited for about Rs. 305.8 crore and DFSU Farmer Connect Private Limited for about Rs. 247 crore, totalling roughly Rs. 552.8 crore. Both will become wholly-owned subsidiaries, paid for by issuing equity shares, 3% CCPS and 5% CCDs at Rs. 135 each (Rs. 10 face value plus Rs. 125 premium) to the sellers. The company, currently in logistics, is pivoting into dairy, ice-cream and snack foods. All items need shareholder approval and the acquisitions are targeted to close by March 15, 2026.
This is a transformative deal for the company - existing logistics investors are getting exposure to dairy and FMCG businesses (SNA's turnover grew from Rs. 17.9 crore in FY23 to Rs. 33.7 crore in FY25), but it comes with heavy dilution since the preferential issue will push promoter holding to 46.85% and public to 53.15% on a fully converted basis. The acquisitions are flagged as related-party transactions (common promoters), which warrants careful reading of the valuation report before the shareholder vote.