Bikaji Foods International has approved significant strategic decisions. This includes an additional investment of ₹35,989,980 in Petunt Food Processors Private Limited (PFPPL), making it a wholly-owned subsidiary. The company will also invest $500,000 in its US subsidiary, Bikaji Foods International USA Corp. Further, loans of ₹40,000,000 and ₹25,000,000 were approved for Petunt Food Processors and Dadiji Snacks Private Limited respectively.
Investment in Petunt Food Processors Private Limited
Bikaji Foods International has approved an additional investment in Petunt Food Processors Private Limited (PFPPL). This will be executed through the acquisition of 35,98,998 equity shares, each with a face value of ₹10. This acquisition represents 48.78% of PFPPL’s equity share capital. After this acquisition, PFPPL will become a wholly-owned subsidiary of Bikaji Foods International.
Investment in US Subsidiary
The board has also approved an investment of $5,00,000 in Bikaji Foods International USA Corp, the company’s wholly-owned subsidiary in the United States. This investment will be in the form of 50,000 common stock.
Loan to Petunt Food Processors
A loan agreement with Petunt Food Processors Private Limited, a subsidiary of the company, has been approved for ₹4,00,00,000.
Loan to Dadiji Snacks Private Limited
The execution of a loan agreement with Dadiji Snacks Private Limited, a contract manufacturing unit of the company, has been approved for ₹2,50,00,000.
Source: BSE
