Acquisition of 100% shares of Agnetta International Pvt Ltd
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Kati Patang Lifestyle Ltd's board has approved acquiring 100% of Agnetta International Pvt Ltd, a Gurgaon-based trader of premium imported wines and spirits, through a share swap worth up to Rs. 3.5 crore. Agnetta reported a turnover of Rs. 6.04 crore in FY25 (up from Rs. 5.11 crore in FY24) and a networth of Rs. 2.68 crore. In a separate move, the company will also pick up the remaining 2% in Empyrean Spirits Pvt Ltd (ESPL), the maker of its 'Kati Patang' craft beer brand, for Rs. 96.82 lakh via share swap, making ESPL a wholly owned subsidiary. Both deals are not related-party transactions and are expected to close in 3-4 months, subject to shareholder and SEBI approvals. The moves expand the company's footprint into premium wines, spirits, and craft beer.
The acquisitions will add a premium imported wines and spirits business and consolidate 100% ownership of the craft beer arm, potentially boosting revenue and shareholder value. However, the deals are share-swap based, meaning existing shareholders will face dilution, and approvals from shareholders and SEBI are still pending.