Binding Term Sheet between Sumuka Agro Industries Limited and Arkaa Cluster Private Limited
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Sumuka Agro Industries Limited has signed a binding term sheet to acquire 100% equity stake in Arkaa Cluster Private Limited, an agro-food trading and warehousing company. The deal is valued at an equity valuation of INR 35 crore, to be paid entirely through a share swap (preferential allotment of Sumuka's listed shares to Arkaa's shareholders). Arkaa reported turnover of INR 150.61 crore in FY25, up from INR 110.15 crore in FY24 and INR 10.88 crore in FY23, and also holds a brand 'True Millet' through its investment in Urban Millets. The acquisition is aimed at strategic diversification into millet-based foods, South India agro supply chain, and warehousing synergies. Additional support includes an INR 10 crore interest-free working capital loan and INR 15 crore loan de-collateralization, with completion expected within 15 days of receiving shareholder and stock exchange approvals. The transaction is not a related-party deal.
This is a share-swap acquisition that will dilute existing shareholders but bring in a fast-growing agro-food business (revenue up ~37% YoY in FY25) and a millet brand, strengthening Sumuka's position in health foods and South India markets. Short-term impact may be neutral to slightly negative due to dilution; long-term depends on synergy realization and integration of the 'True Millet' brand.