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NHC Foods Stock Hits Upper Circuit After Acquisition Plans
NHC Foods is a company that trades and processes farm products.
Its share price rose by 5% after it announced two planned acquisitions.
The company wants to buy most of Lotmor Brands and Walya's Beverages.
These businesses sell or make food and beverage products.
NHC Foods may pay with money or by issuing its own shares.
Lotmor had higher reported turnover than Walya's in the latest figures provided.
NHC Foods said it wants to combine the businesses with its existing operations.
The goal is to build a stronger food and beverage business with better sourcing and distribution.
NHC Foods shares hit a 5% upper circuit on 17 September after announcing proposed acquisitions.
The company plans to acquire up to 88% of Lotmor Brands and 80% of Walya's Beverages.
The acquisitions may be funded in cash or through NHC Foods shares priced at ₹6.50 each.
Lotmor Brands reported turnover of ₹246.11 crore in FY23, ₹260.43 crore in FY24 and ₹179.74 crore in FY25.
NHC Foods said the deals aim to strengthen procurement, processing, distribution and market reach.
- Who
- NHC Foods Limited, Lotmor Brands Private Limited and Walya's Beverages Private Limited; NHC Foods Managing Director Satyam Shirishchandra Joshi commented on the strategy.
- What
- NHC Foods announced plans to acquire controlling stakes of up to 88% in Lotmor Brands and 80% in Walya's Beverages, after which its shares reached the 5% upper circuit.
- Where
- NHC Foods shares traded on the BSE.
- When
- Thursday, 17 September; the article does not specify the year.
- Why
- The proposed acquisitions are intended to strengthen procurement and distribution capabilities, broaden the product portfolio and complement NHC Foods' existing operations.
Key facts
- Share movement
- NHC Foods shares hit a 5% upper circuit.
- Opening price
- ₹2.05 per share on the BSE.
- Intraday range
- ₹2.03 to ₹2.11 per share.
- Proposed Lotmor stake
- Up to 88%.
- Proposed Walya's stake
- Up to 80%.
- Possible share consideration
- NHC Foods equity shares may be issued at ₹6.50 per share.
- Lotmor FY25 turnover
- ₹179.74 crore.
- Walya's FY25 turnover
- ₹22.28 crore.
Quotes
Satyam Shirishchandra Joshi
Managing Director of NHC Foods
“Our approach with these proposed acquisitions is to build on what we already have rather than operate these businesses in isolation.”
livemint.com
Sources
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