Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('LODR Regulations') kindly note that the Company has acquired equity stake in ....
ELITECON · price
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Elitecon International Limited has acquired a 55% stake in Landsmill Agro Private Limited for Rs. 52.85 crores in cash and a 51.65% stake in Sunbridge Agro Private Limited for Rs. 128.40 crores in cash, making both entities subsidiaries of the company. Both targets operate in the agro products sector, with combined turnover of approximately Rs. 2,837 crores in FY25 (Landsmill at Rs. 1,394.80 crores and Sunbridge at Rs. 1,443.04 crores). The company plans to acquire 100% stake in both entities within 12 months. The acquisitions are aimed at expanding and strengthening Elitecon's FMCG business vertical, where it is already active in agro products. Total cash outflow for both deals combined is around Rs. 181.25 crores.
This is a significant scale-up move for Elitecon, nearly tripling its business footprint by adding two large agro/FMCG companies as subsidiaries, which could substantially boost consolidated revenue. Shareholders should note the large cash deployment and monitor execution of the remaining stake acquisitions over the next 12 months.