Pursuant to Regulation 30of SEBI (LODR) Regulations, 2015 We wish to inform you that board of directors have approved the execution of term sheet .
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Sylph Technologies' board has approved executing a term sheet to acquire a 65% controlling stake in Maxrotth Foods Limited, an Ahmedabad-based public company in the pulses, spices, and FMCG export business. The deal involves subscribing to 11.42 lakh fresh equity shares and buying 8.35 lakh shares from existing sellers, all at Rs 18 per share, for a total cash consideration of about Rs 3.56 crores. Maxrotth reported FY25 turnover of Rs 941.69 lakhs and profit after tax of Rs 62.41 lakhs, and will become a subsidiary of Sylph upon completion. The acquisition is targeted to close within 3 months and is not a related-party transaction. The move is aimed at expanding Sylph's FMCG and export business.
This deal adds a subsidiary in the FMCG and agri-export space, giving Sylph a foothold in a new business vertical, but the target's small size (turnover under Rs 10 crores) means limited immediate revenue accretion. Shareholders should track execution over the next 3 months and any follow-on capital needs to scale the acquired business.