Hindustan Foods Limited has informed the Exchange about Acquisition of 24,643 Series B Compulsorily Convertible Preference Shares of Asar Green Kabadi Private Limited.
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Hindustan Foods Limited (HFL) has executed a Share Subscription Agreement to acquire 24,643 Series B Compulsorily Convertible Preference Shares (CCPS) of Asar Green Kabadi Private Limited, representing 25.07% of its share capital on a fully diluted basis. The total consideration is Rs. 5 crore, of which Rs. 4 crore was paid in cash and the remaining ~Rs. 1 crore is being adjusted against an existing loan extended by HFL to Asar Green. Asar Green is a waste management and recycling company (incorporated in 2014), with turnover growing from Rs. 9.79 crore in FY22 to Rs. 12.84 crore in FY24. The transaction is not a related party deal and is expected to complete by Q2 FY 2025-26.
This is a relatively small minority investment (Rs. 5 crore) into a company outside HFL's core food business, signalling a diversification move into the waste management and circular economy space. The financial impact on HFL is likely immaterial in the near term, but it reflects a strategic interest in sustainability-adjacent businesses.