Mawana Sugars Limited — Important, 23-12-2024: General Updates

Mawana Sugars Limited (MSL) is moving forward with the acquisition of 1,32,77,049 equity shares from Usha International Limited (UIL) at ₹1.82 per share. This transaction will transform Mawana Foods Private Limited (MFPL) into a wholly owned subsidiary. In addition, MSL is acquiring the "MAWANA" brand—including associated trademarks and copyrights—for ₹5.75 crore.

MFPL, primarily involved in sugar sales and marketing, reported a turnover of ₹34.43 crore for the 2023 fiscal year. The acquisition, expected to enhance MSL’s market positioning and strengthen its retail sugar business, is anticipated to be completed by December 31, 2024. The brands being acquired are already associated with MSL and will allow for greater control and branding consistency in the market. Overall, this strategic move offers a positive outlook for MSL as it expands its operational capabilities.