Riddhi Siddhi Gluco Biols Ltd completes acquisition of identified assets of Cargill India

Riddhi Siddhi Gluco Biols Ltd. (RSGBL), a publicly listed company on the Bombay Stock Exchange (BSE), has successfully completed the acquisition of the corn milling plant and related assets in Davangere, Karnataka from Cargill, pursuant to the Asset Purchase Agreement signed earlier.

With the completion of this transaction, RSGBL has acquired the integrated manufacturing facility, including land, production infrastructure, warehouses, and corn silos, further strengthening its operational footprint in southern India.

Operational since 2016, the state-of-the-art facility has an annual processing capacity of 300,000 MT. This milestone marks a significant step in RSGBL's growth journey, enhancing its capacity to serve the food, pharmaceutical, and industrial sectors, while reinforcing its commitment to sustainable and efficient manufacturing.

Commenting on the completion, Mr. Siddharth Chowdhary - Executive Director, RSGBL, said: "We are pleased to mark the successful completion of this acquisition. It reflects an important step in our long-term growth journey, strengthening our manufacturing capabilities and expanding our presence in food and pharmaceutical segments. The strategic location of the Davangere facility strengthens our ability to efficiently serve both domestic and export markets. We are firmly committed to sustainable operations at the facility, including increased use of renewable energy. The acquisition symbolizes a new chapter of innovation, efficiency, and strategic growth, positioning the company to create long-term value for stakeholders while setting new benchmarks in the industry."

With over three decades of experience in starch and starch derivatives, this acquisition further strengthens RSGBL's position in India's starch industry by expanding its production capacity, geographic reach, and ability to cater to evolving customer requirements.

Speaking on the transaction, Mr. Dheeraj Talreja - Vice President & Managing Director, Food South Asia, Cargill India Pvt Ltd said, "We wish RSGBL success and are confident that this asset will support their growth as they expand in the starch industry".

In India, Cargill has been operating since 1987 and currently has pan-India presence with businesses spanning refined oils, food ingredients, industrial specialties, grain and oilseeds, cotton, animal nutrition, and trade & capital markets.

This landmark achievement reflects RSGBL's enduring pursuit of excellence and its ability to translate strategic vision into tangible value. It is a testament to the company's expertise to identify high-value opportunities and seamlessly integrate large-scale assets, further reinforcing its reputation as a forward-looking and resilient player in India's starch and derivatives industry.

Shares of RIDDHI SIDDHI GLUCO BIOLS LTD. was last trading in BSE at Rs. 610.40 as compared to the previous close of Rs. 588.75. The total number of shares traded during the day was 5607 in over 185 trades.

The stock hit an intraday high of Rs. 621.00 and intraday low of 585.00. The net turnover during the day was Rs. 3411088.00.

Source : Equity Bulls

Keywords

RIDDHISIDDHIGLUCOBIOLS INE249D01019 CommodityChemicals AcquisitionComplete CargillIndia IdentifiedAssets