Srivari Spices And Foods Limited — Important, 27-12-2024: General Updates

Srivari Spices and Foods Limited has agreed to acquire 60% of the equity shares of Srivari Supply Chain Private Limited, making it a wholly-owned subsidiary. This strategic move is intended to enhance the company’s supply chain and distribution capabilities, aiming to optimize product movement and delivery efficiency. The total acquisition cost is Rs. 60,000, with 6,000 shares being purchased at Rs. 10 each. The transaction is categorized as a related party transaction since the promoter holds a 60% stake in the target company. Completion of the acquisition is anticipated on or before January 31, 2025. This initiative could present a positive outlook for the company's operational efficiency and market positioning within the logistics sector.