Transaction Overview

Tejassvi Aaharam Limited has acquired 100% of the share capital of Funk Foods Private Limited through consideration other than cash (swap of shares). The transaction follows the execution of a Share Purchase Agreement and other necessary documents dated 13th February, 2026.

Board Approval and Share Allotment

The Board of Directors of Tejassvi Aaharam Limited, at its meeting held on 20th July, 2026, approved the allotment of 5,11,62,204 (Five Crore Eleven Lakh Sixty Two Thousand Two Hundred and Four) Equity Shares of ₹10 each at an issue price of ₹10 each (at par, without any premium) on a preferential basis. The shares are allotted to the shareholders of FFPL, who are persons other than promoters and promoter group of Tejassvi Aaharam Limited.

Target Company Details

Name: Funk Foods Private Limited (FFPL)

Financial Information:

  • Authorized share capital: ₹36,00,00,000 divided into 36,00,000 Equity Shares of ₹100 each
  • Turnover history:
  • FY 2024-25: ₹7.97 crores
  • FY 2023-24: ₹1.71 crores
  • FY 2022-23: ₹0.22 crores
  • FY 2021-22: NIL

Business Operations: FFPL is engaged in the development, manufacturing, and export of freeze-dried, clean-label food products for retail and food service markets. Their product portfolio includes instant chutneys, soup mixes, ready-to-eat meals (such as Pongal and Khichdi), spreads and dips, and signature sauces across global cuisines.

Incorporation Date: 28th January, 2022

Geographic Presence: India only

Transaction Terms

Consideration Type: Share swap (consideration other than cash)

Acquisition Price: 5,11,62,204 Equity Shares issued at ₹10 each, totaling ₹51,16,22,040 (Rupees Fifty One Crore Sixteen Lakh Twenty Two Thousand and Forty only)

Valuation: Valuation report obtained from a registered valuer and uploaded on the company's website

Percentage Acquired: 100% equity stake of FFPL, comprising 33,67,042 Equity Shares of face value ₹100 each

Cash Outflow: None

Related Party Status

The acquisition does not fall within related party transactions. The promoter/promoter group/group companies of Tejassvi Aaharam Limited do not have any interest in FFPL.

Strategic Rationale

FFPL operates in the same line of business as Tejassvi Aaharam Limited. The acquisition represents a significant milestone in the evolution of both companies and is expected to benefit all stakeholders associated with the company, including shareholders at large.

Approvals Obtained

Appropriate approvals have been taken from the shareholders of Tejassvi Aaharam Limited through Postal Ballot.