Trading Symbol
DESIFARMS
Key Details of Allotment
- Type of Security: 3% Compulsorily Convertible Non-Cumulative Preference Shares (CCPS)
- Total Number of Securities: 28,06,200 (Twenty-Eight Lakh Six Thousand Two Hundred) fully paid-up CCPS
- Face Value: ₹10 per share
- Issue Price: ₹135 per CCPS (including premium of ₹125 per CCPS)
- Total Issue Value: ₹37,88,37,000 (Rupees Thirty-Seven Crore Eighty-Eight Lakh Thirty-Seven Thousand only)
- Type of Issuance: Preferential Allotment
- Consideration: Non-cash consideration (share swap basis)
- Number of Investors: 152
Approval Details
- Board Approval Date: July 4, 2026 (Board Meeting and Securities Issue Committee Meeting)
- Shareholder Approval: Special resolution passed in Extra-ordinary General Meeting held on February 20, 2026
- Regulatory Approval: In-principle Approval dated June 24, 2026 received from BSE Limited
Purpose and Rationale
The allotment was made to persons including those belonging to promoter/promoter group, being shareholders of SNA Milk and Milk Products Limited ("SNA"), for consideration other than cash, in lieu of acquisition of SNA on fully diluted basis by way of a share swap.
Allottee Classification
All 152 allottees are classified as "NON-PROMOTER" category. The allottees include both individual investors and corporate entities such as Deepti Formulations Private Limited, Kakad Holdings Private Limited, and NVS Corporate Consultancy Services Private Limited.
Financial Impact
The transaction represents a share-based acquisition valued at ₹37.88 crore without cash outflow. The CCPS carry a 3% non-cumulative dividend rate and are compulsorily convertible, though conversion terms are not specified in this disclosure.