HMA Agro Industries Limited
Execution of Share Sale Agreement for Divestment of FNS Agro Foods Limited
Main Body
HMA Agro Industries Limited has executed a Share Sale Agreement dated September 09, 2026 with seven proposed acquirers for the sale and transfer of the Company's entire shareholding in FNS Agro Foods Limited.
The agreement involves the sale of 8,95,593 (Eight Lakh Ninety-Five Thousand Five Hundred Ninety-Three) equity shares of FNS Agro Foods Limited, representing 100% of the Company's shareholding in FNS.
The transaction is valued at a consideration of ₹55.92 per equity share, aggregating to ₹5,00,81,560.56 (Rupees Five Crore Eighty Thousand Five Hundred Sixty and Fifty-Six Paise only).
The seven acquirers are members of the Promoter/Promoter Group of HMA Agro Industries Limited:
- Four are Promoters of the Company
- Three are relatives of Promoters and form part of the Promoter Group
This constitutes a related party transaction undertaken in compliance with the Companies Act, 2013 and SEBI LODR Regulations. The transaction is being executed on an arm's length basis based on valuation determined by an independent Registered Valuer.
The transfer shall be affected through an off-market transfer in dematerialised form, subject to fulfilment of conditions precedent and applicable statutory and regulatory requirements. The transaction is expected to be completed on or before September 30, 2026.
Upon completion of the transfer, FNS Agro Foods Limited shall cease to be a subsidiary of HMA Agro Industries Limited.
The agreement does not include any special rights such as right to appoint directors, first right to share subscription, or right to restrict changes in capital structure.