ADF Foods Ltd to make further investment in Telluric Foods India Ltd

The Board of Directors of ADF Foods Limited at its meeting held on Saturday, 6th May, 2023 has approved acquisition of additional shares in Telluric Foods (India) Limited, Wholly Owned Subsidiary of the Company.

The board approved conversion of loan given to Telluric Foods (India) Limited, amounting to Rs. 1,50,00,000/- (Rupees One Crore Fifty Lakh Only) into 15,00,000 (Fifteen Lakh Only) Optionally Convertible Redeemable Preference Shares (“OCRPS”) having face value Rs. 10 (Rupees Ten Only) each.

The board also approved further investment of upto Rs. 5,00,00,000/- (Rupees Five Crore Only) in 50,00,000 (Fifty Lakh Only) OCRPS having face value Rs. 10 (Rupees Ten Only) each, considering the future business plan of the said subsidiary.

Shares of ADF Foods Limited was last trading in BSE at Rs. 759.85 as compared to the previous close of Rs. 770.60. The total number of shares traded during the day was 739 in over 130 trades.

The stock hit an intraday high of Rs. 774.00 and intraday low of 754.00. The net turnover during the day was Rs. 562150.00.

Source : Equity Bulls

Keywords

ADFFoods INE982B01019 FurtherInvestment TelluricFoodsIndia