Phoenix Overseas Limited — Board Meeting, 29-05-2025: Outcome of Board Meeting

Phoenix Overseas Limited has announced a board meeting approving the acquisition of an additional 22% stake in BCL Bio Energy Private Limited, raising its holding to 51% and making BCL a subsidiary. BCL’s solvent extraction plant in West Bengal produces Crude Rice Bran Oil and Deoiled Rice Bran (DORB), a high-protein animal feed. This acquisition enhances Phoenix’s agro-processing portfolio and targets export growth in markets like Bangladesh and Vietnam. The deal will be cash-funded based on statutory valuation, aimed at driving long-term growth through operational synergies.