Annapurna Swadisht Limited — Important, 26-11-2024: Agreements

Annapurna Swadisht Limited (ASL) has entered into a Shareholders Agreement with Mr. Mahendra Gulwani and Mr. Pradeep Gulwani to subscribe to equity shares in Madhur Confectioners Private Limited (MCPL). Each of the sellers holds 5,000 shares, and under this agreement, they will transfer 3,700 shares each in the first phase of the transaction. Following the completion of this agreement, MCPL will become a wholly-owned subsidiary of ASL. The agreement includes significant rights such as the appointment of directors and a right of first refusal for share subscriptions. The proposed appointment of Mr. Rajesh Shaw and Mr. Pawan Jaiswal as additional directors for MCPL is also mentioned. This development could strengthen ASL's market position, presenting potential growth as they expand their operations into confectionery through MCPL.