Bikaji Foods International’s board has approved a series of strategic investments and a joint venture aimed at expanding its market presence. These include an investment of up to ₹50 Crore in Bikaji Foods Retail Limited and a joint venture to enter the frozen and bakery segment. The company will also provide loans to its subsidiaries and invest in Jai Barbareek Dev Snacks Private Limited. These initiatives signal a strong push towards diversification and growth.
Strategic Investments Approved
The Board of Directors at Bikaji Foods International has approved a significant investment in its Wholly-Owned Subsidiary, Bikaji Foods Retail Limited, amounting to ₹50 Crore. This investment will be made through additional subscription to the share capital.
Joint Venture for Bakery Business
Bikaji Foods International will enter a joint venture with Mr. Deepak Agarwal and Mr. Thayekunni Khaleel to synergize expertise and venture into the frozen and bakery business in India. This will be facilitated through Bikaji Bakes Private Limited, leveraging their combined experience.
Loan Agreements Executed
The board has also approved the execution of loan agreements to support its subsidiaries. This includes a loan of up to ₹5 Crore to Petunt Food Processors Private Limited and a loan of up to ₹8 Crore to Dadiji Snacks Private Limited, to aid in their operations.
Investment in Jai Barbareek Dev Snacks
Further expanding its investment portfolio, Bikaji Foods International has approved an investment of up to ₹25 Crore in Jai Barbareek Dev Snacks Private Limited, through Optionally Convertible Debentures. This strategic move aims to strengthen Bikaji’s footprint in the snack food sector.
Source: BSE
