Board approves slump sale of 5 business divisions into related party subsidiaries
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Valencia Nutrition board on Sept 3, 2026 approved slump sale of 5 divisions (Canned Beverages, Snacks and Bakery, POS Solutions, Nutraceuticals, Consumer Products) to newly formed related party subsidiaries where VNL holds 75% and MD Manish Turakhia holds 25%. These material related party deals need majority of minority approval at AGM. Also approved adding agriculture and IT/AI/ML to main objects. New directors: Ashish Kamdar (Executive) and Hiren Jain (Non-Executive). Paresh Desai resigned. 13th AGM on Sept 29, 2026.
Slump sales to promoter-linked subsidiaries need majority of minority approval at Sept 29 AGM. Major restructuring plus diversification into agri and IT.