Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Execution of Share Purchase Agreement with the existing shareholders of Oniv ....
Awaiting price reaction for this filing.
Carnation Industries has signed a Share Purchase Agreement to acquire 100% equity in Oniv Beverages Private Limited for a total consideration not exceeding INR 5.00 Crores. The deal is a share swap, meaning Carnation Industries will issue and allot its own equity shares to the existing shareholders of Oniv Beverages instead of paying cash. Oniv Beverages is a Mumbai-based company in the wine and beverages business, with turnover of about INR 16.91 crores in FY24, up from INR 10 crores in FY23 and INR 0.50 crores in FY22, showing rapid revenue growth. The acquisition is a strategic move to expand Carnation's business portfolio into the beverages segment and is expected to be completed within the first half of FY25-26, pending necessary approvals. It is not a related-party transaction.
This acquisition diversifies Carnation Industries into the fast-growing wine and beverages sector through a non-cash, share-swap route, meaning no immediate cash outflow but potential dilution for existing shareholders. The strong revenue trajectory of Oniv Beverages could be a positive for future earnings if integration goes smoothly, though deal completion is still subject to regulatory approvals.