Pursuant to regulation 30 of the SEBI (LODR) Regulation 2015, We hereby inform that the Company has acquired 100% Euity Shares of Shri Krishnam Industries Private Limited, Thereby Making ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mangalam Global Corporations Limited has acquired 100% equity shares of Shri Krishnam Industries Private Limited for Rs. 63 lakhs (6,30,000 shares at Rs.10 each), making it a Wholly Owned Subsidiary. The target company is in the Food Processing Industry (Pulse Processing/Dal Milling) and was incorporated in February 2020 but is yet to commence business operations. The acquisition is being made for cash consideration and is disclosed as a related party transaction. The company states this acquisition is in line with its growth and expansion strategy, as the target entity is setting up a dal manufacturing project. This will strengthen Mangalam Global's presence in the agro-processing segment.
The acquisition signals Mangalam Global's expansion into the food processing/agribusiness sector through a 100% owned subsidiary. Since the target company is yet to commence operations, this is a strategic bet on future growth rather than immediate revenue impact. Related party nature of the transaction may attract shareholder scrutiny.