FMCG company approved acquiring a 100% stake in Del Monte Foods during its November 14, 2024 board meeting. This strategic move aims to strengthen its position in the packaged food sector and expand its product portfolio in the growing FMCG market.
Share Price movement of Agro Tech Foods Limited:
On November 14, 2024, Agro Tech Foods Ltd shares opened at ₹1,040.70 and reached an intraday high of ₹1,071.95 before declining to ₹966.10, which was both the intraday low and closing price, reflecting significant volatility and market dynamics during the trading session.
Agro Tech Foods Limited Acquiring Del Monte Foods (DMFPL):
FMCG company Agro Tech Foods has announced the approval of acquiring a 100% stake in Del Monte Foods (DMFPL). After the transaction, DMFPL will operate as a wholly owned subsidiary, aligning with Agro Tech Foods’ strategic expansion in the packaged food segment.
As part of the acquisition, the board approved issuing up to 1,33,27,589 fully paid equity shares with a face value of ₹10 each. These shares will be offered at a preferential allotment price of ₹975.5 per equity share, including a premium of ₹965.5 per share.
This acquisition, approved during the board meeting on November 14, 2024, marks a significant milestone for Agro Tech Foods. The move reflects the company’s commitment to strengthening its market position and expanding its portfolio in the growing FMCG sector.
Recent news About Agro Tech Foods Limited:
On August 28, 2024, Conagra Brands completed the sale of its 51.8% stake in Agro Tech Foods Limited to funds advised by Convergent Finance and Samara Capital. This divestiture aligns with Conagra’s strategy to reshape its portfolio and maximise shareholder value.
Ace investor holding of Agro Tech Foods Limited:
- Ace investor Rekha Jhunjhunwala holds a significant 7.03% stake in Agro Tech Foods Ltd as of September 2024, amounting to 17,11,759 shares valued at ₹975.75 crore. This substantial investment underscores her confidence in the FMCG company’s growth and market potential.
- Ace investor Viral Amal Parikh holds a 3.56% stake in Agro Tech Foods Ltd as of September 2024, owning 8,66,626 shares valued at ₹975.75 crore. This investment reflects his strategic confidence in the FMCG company’s growth potential and market prospects.
Stock performance of Agro Tech Foods Limited for Period of 1 week, 6 months and 1 year:
Agro Tech Foods Ltd delivered a 22% return over the past year, a robust 36.7% gain over six months, but saw a slight decline of 2.44% in the last week, showcasing strong medium-term performance despite short-term fluctuations.
Shareholding pattern of Agro Tech Foods Limited:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 51.77 | 51.77 | 51.77 |
| FII | 0.79 | 0.7 | 7.85 |
| DII | 7.94 | 7.93 | 11.32 |
| Retail & others | 39.49 | 39.6 | 29.05 |
About Agro Tech Foods Limited Industries:
Agro Tech Foods Limited is a prominent FMCG company specializing in food and edible oil products. It caters to both retail and institutional markets, offering a wide range of branded products like ready-to-cook snacks, spreads, and cooking oils, ensuring quality and innovation in the packaged food sector.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
