Avanti Feeds Ltd forms subsidiary for Pet Care products business

The Board of Directors of Avanti Feeds Limited at its meeting held today, has, approved additional investment upto INR 26,25,00,000/- (Rupees Twenty-six crore and twenty-five lakh only) in Avanti Pet Care Private Limited, subsidiary company, at a face value of INR10/- each fully paid up.

The newly incorporated subsidiary Company shall deal in Manufacturing and Trading of pet foods/feeds, Pet health care products like medicines, shampoo, soaps, creams, grooming and other grooming related Pet Care products including pet equipment related to Pet Care.

This is an identical product as the existing Shrimp Feed. The Company propose to diversify its activities into pet care.

Shares of Avanti Feeds Limited was last trading in BSE at Rs. 432.95 as compared to the previous close of Rs. 433.45. The total number of shares traded during the day was 11498 in over 552 trades.

The stock hit an intraday high of Rs. 438.95 and intraday low of 431.45. The net turnover during the day was Rs. 4991345.00.

Source : Equity Bulls

Keywords

AvantiFeeds INE871C01038 PetCareProducts NewBusinessForay AvantiPetCare