Key Transaction Details

Pajson Agro India Limited (Scrip Code: 544657) has announced that its Board of Directors has approved the acquisition of a 100% equity stake in Pacific Global FZCO, Dubai (UAE) for a total consideration of ₹354.52 crore. The acquisition will be executed through an all-stock transaction involving no cash outflow.

Acquisition Structure and Consideration

The consideration will be settled through a preferential issue of up to 1,20,58,397 equity shares of face value ₹10 each at an issue price of ₹294 per share to the shareholders of Pacific Global. The transaction is structured in accordance with Chapter V of the SEBI (ICDR) Regulations, 2018 and values the acquisition at approximately 1.0x Pacific Global's net worth.

Capacity Expansion Impact

The acquisition adds 60,000 MT of raw cashew nuts (RCN) processing capacity in Côte d'Ivoire. Upon completion, the Company's total processing capacity will scale to 113,000 MT, comprising:

  • Existing 18,000 MT capacity in India
  • 35,000 MT greenfield facility at Vizianagaram, Andhra Pradesh (under development)
  • 60,000 MT from Pacific Global in Côte d'Ivoire

Target Company Financials

Pacific Global reported consolidated turnover of AED 40.32 million (₹104.18 crore) for the period January-August 2026. The company had a consolidated net worth of AED 135.92 million (₹351.20 crore) as on August 31, 2026.

Business Rationale

The acquisition provides strategic access to Côte d'Ivoire, the world's largest producer of raw cashew nuts, strengthening control over raw-material access, quality and cost. Processing at origin while serving multiple international markets provides natural hedge across sourcing, geographies and end-markets.

Additional Corporate Approvals

The Board also approved:

  • Pajson Agro Employee Stock Option Scheme 2026 (ESOS 2026) with a pool of up to 11,90,480 options, each exercisable into one equity share
  • Increase in authorized share capital from ₹25 crore to ₹40 crore

The ESOS 2026 will be administered by the Nomination and Remuneration Committee and is extendable to eligible employees of group companies, including subsidiaries.

Management Commentary

Mr. Aayush Jain, Promoter, Chairman & Managing Director, stated that the acquisition represents a defining milestone that transforms the company from a local processor to one with global strategic footprint. Mr. Pulkit Jain, Promoter & Non-Executive Director and Majority Shareholder of Pacific Global, noted that he will receive the entire consideration in Pajson Agro shares, reflecting confidence in the Company's long-term prospects.

Transaction Timeline and Approvals

The transaction is subject to shareholder and other applicable approvals, with expected completion within approximately 2-3 months after obtaining approvals.

Company Background

Pajson Agro India Limited is a vertically integrated cashew processing company that converts raw cashew nuts into kernels for institutional and retail customers. The company operates under the consumer brand 'Royal Mewa' and serves leading confectionery and snack manufacturers with over 178 distributors across 20+ states.

For FY26, the company reported Total Income of ₹256.92 crore, EBITDA of ₹37.82 crore, and PAT of ₹24.78 crore. The company was listed on BSE SME in December 2025.