Sundrop Brands Limited — Board Meeting, 14-11-2024: Outcome of Board Meeting

The Board of Agro Tech Foods Limited has approved several significant actions, including a proposed name change to “Sundrop Brands Limited,” pending shareholder approval. The authorized share capital will be increased to ₹50 crore, and the Memorandum of Association will be amended accordingly. The Board also greenlit the acquisition of 100% equity shares of Del Monte Foods Private Limited, valued at ₹1,300.11 crore, which will transition DMFPL into a wholly owned subsidiary. Additionally, Mr. Nitish Bajaj will be appointed as Group Managing Director, and Dr. Om Prakash Manchanda as Non-Executive Independent Director.