Bikaji Foods International has announced strategic business initiatives, including an investment of ₹50 Crore in its retail subsidiary, Bikaji Foods Retail Limited. Additionally, a joint venture agreement has been formalized to venture into the frozen and bakery business. The company has also approved loans to Petunt Food Processors Private Limited (₹5 Crore) and Dadiji Snacks Private Limited (₹8 Crore), alongside an investment of ₹25 Crore in Jai Barbareek Dev Snacks Private Limited.
Investment in Retail Subsidiary
Bikaji Foods International will invest an additional ₹50 Crore in Bikaji Foods Retail Limited, its Wholly-Owned Subsidiary, through additional share capital subscription. This move aims to strengthen the subsidiary’s operations.
Joint Venture for Frozen and Bakery Business
The company has approved a Joint Venture cum Shareholders Agreement with Mr. Deepak Agarwal and Mr. Thayekunni Khaleel to synergize expertise for the frozen and bakery business in India. This will be executed through Bikaji Bakes Private Limited, with Bikaji Foods International holding a 70% stake.
Loan Agreements Approved
Bikaji Foods International has approved the execution of loan agreements with:
- Petunt Food Processors Private Limited: Up to ₹5 Crore.
- Dadiji Snacks Private Limited: Up to ₹8 Crore.
Investment in Jai Barbareek Dev Snacks
The company will invest up to ₹25 Crore in Jai Barbareek Dev Snacks Private Limited through Optionally Convertible Debentures, amounting to 2,50,00,000.
Source: BSE
