Trading Symbol
DESIFARMS
Key Event Details
Desi Farms India Limited has allotted 6,48,400 (Six Lakh Forty-Eight Thousand Four Hundred) 3% Compulsorily Convertible Non-Cumulative Preference Shares (CCPS) on a preferential basis for consideration other than cash.
Financial Details
- Number of CCPS allotted: 6,48,400
- Face value per CCPS: ₹10
- Issue price per CCPS: ₹135 (including premium of ₹125 per CCPS)
- Total consideration: ₹8,75,34,000 (Rupees Eight Crore Seventy-Five Lakh Thirty-Four Thousand only)
Transaction Structure
The allotment was made as consideration for the acquisition of SNA Milk and Milk Products Limited ("SNA") on a fully diluted basis by way of a share swap arrangement. The CCPS were allotted to non-promoters who were shareholders of SNA.
Approval Process
The allotment was approved by:
- Board Meeting and Securities Issue Committee Meeting: Held on July 9, 2026 at 4:00 PM
- Shareholder approval: Special resolution passed in the Extra-ordinary General Meeting held on February 20, 2026
- Regulatory approval: In-principle approval received from BSE Limited dated June 24, 2026
Investor Details
The preferential allotment was made to 29 non-promoter investors as listed in Annexure A. The major allottees include:
- Nav India Venture LLP: 1,48,400 CCPS
- Sandeep Sinha: 1,56,000 CCPS (appears to be a typo in original, likely 15,600)
- Multiple individual investors with allotments ranging from 4,800 to 18,600 CCPS
Instrument Features
The CCPS are:
- 3% Compulsorily Convertible
- Non-Cumulative Preference Shares
- Conversion terms and tenure details not specified in this disclosure
Capital Structure Impact
The allotment increases the company's share capital by ₹8,75,34,000 through the issuance of convertible preference shares, which will eventually convert into equity shares upon conversion.
Effective Date
The allotment was approved and effected on July 9, 2026.
#Tags #DesiFarms #PreferentialAllotment #SEBIRegulation30 #M&A #Neutral