Patanjali Foods Limited has entered into an agreement to acquire the leasehold rights and interest in parcels of land located in Pithampur, Madhya Pradesh. The transaction, valued at ₹185 Crore, is with its promoter group company, Patanjali Ayurved Limited. This signifies a strategic expansion of the company’s asset base in a key industrial growth center. The transfer is an ‘agreement to transfer’ and will be finalized upon the registration of a revised lease deed.
Patanjali Foods Acquires Key Land Assets
Patanjali Foods Limited has announced the acquisition of leasehold rights for two parcels of land situated in Sector – 3, Industrial Growth Centre, Pithampur, District Dhar, Madhya Pradesh. The agreement is with M/s. Patanjali Ayurved Limited, a promoter group company, for a total consideration of Rs. 185 Crore.
Strategic Asset Acquisition
The acquisition of these leasehold rights represents a significant step for Patanjali Foods Limited in expanding its operational footprint. The transaction is categorized as an ‘agreement to transfer’, with the actual transfer of rights to be effected upon the execution and registration of a revised Lease Deed with the Madhya Pradesh Audyogik Kendra Vikas Nigam (Indore) Limited. The transfer charges for this acquisition will be borne by Patanjali Foods Limited.
Related Party Transaction
It has been clarified that Patanjali Ayurved Limited is a promoter group company, making it a related party to Patanjali Foods Limited. The company confirms that this transaction has been conducted at an ‘arm’s length’ basis.
Source: BSE
