Acquisitions of shares of Sahyadri Agro and Dairy Private Limited by Horizontal Ventures Private Limited, a step down subsidiary of the Company
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Valor Estate's step-down subsidiary Horizontal Ventures, which already holds 76.63% in Sahyadri Agro and Dairy Private Limited (SADPL), has signed Share Purchase Agreements to buy the remaining 23.37% equity stake (16,54,476 shares) at roughly Rs. 67.31 per share, aggregating to about Rs. 11.14 crores. Once completed, SADPL will become a wholly owned subsidiary of Horizontal Ventures and remain a step-down subsidiary of Valor Estate. SADPL was earlier in the dairy business (turnover of Rs. 395.64 crores in FY24) but has already sold its business undertakings as disclosed on April 30, 2025, and now holds only financial and residual assets with no active operations. About 15.40% of the shares are being bought from Ms. Avanti Goenka, a relative of promoter Mr. Vinod Goenka, making part of the deal a related party transaction, done at arm's length at book value with no incremental net cash outflow at the group level. The deal is targeted to close within 15 days and no regulatory approvals are needed.
The transaction is largely an internal restructuring with no real cash impact at the group level, since the target is non-operating and the price is at book value. Shareholders should note the related-party component involving the promoter family, but overall the move just consolidates ownership of an inactive entity and gives the company flexibility for future restructuring.