Hatsun Agro Product Nears Complete Acquisition of Milk Mantra Dairy

Hatsun Agro Product (HAP) announced the completion of its acquisition of an additional 2,418 equity shares of Milk Mantra Dairy. This latest purchase involved the payment of Rs. 10 lakh to a shareholder of the target company as part of the Share Purchase Agreement (SPA).

With this acquisition, HAP has now accumulated a total of 30,92,964 equity shares and 16,06,372 compulsorily convertible preference shares, with each share valued at Rs. 10. The cumulative consideration for these transactions amounts to Rs. 231.54 crore.

The current acquisitions, combined with previous ones, have enabled HAP to secure 98.40% of the total issued and paid-up equity and preference share capital of Milk Mantra Dairy. This strategic move significantly strengthens HAP's market position in the dairy industry.