Avanti Feeds Limited completed the acquisition of 50.1% stake in Srivathsa Power Projects Pvt Ltd from Asia Infrastructure Pte. Ltd, A. Indra Kumar,C. Ramachandra Rao,K. Rama Mohana Rao, A. Venkata Sanjeev and D. Rathnavathi for INR 38.41 million.
March 27, 2023
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Avanti Feeds Limited (BSE:512573) agreed to acquire 50.1% stake in Srivathsa Power Projects Pvt Ltd from Asia Infrastructure Pte. Ltd, A. Indra Kumar,C. Ramachandra Rao,K. Rama Mohana Rao, A. Venkata Sanjeev and D. Rathnavathi for INR 38.41 million on March 28, 2023. The Company shall be acquiring 16.7 million shares of Srivathsa Power Projects Pvt Ltd. Srivathsa Power Projects Pvt Ltd reported a Turnover of INR 119.29 million in FY 2021-22. Transaction has already been approved by Avanti Feeds Limited Board of Director's. Transaction will be expected to complete on June 30, 2023.
Avanti Feeds Limited (BSE:512573) completed the acquisition of 50.1% stake in Srivathsa Power Projects Pvt Ltd from Asia Infrastructure Pte. Ltd, A. Indra Kumar,C. Ramachandra Rao,K. Rama Mohana Rao, A. Venkata Sanjeev and D. Rathnavathi on March 28, 2023.
Avanti Feeds Limited is an integrated seafood company. Its segments include Shrimp Feed, Processed Shrimp, Power, and Shrimp Hatchery. The shrimp feed is manufactured and marketed to farmers, which is used in aqua culture to grow shrimp. The shrimps are purchased from the farmers and are further processed and exported to various countries. It has installed over four mills of over 3.2 megawatts capacity at Chitradurga, Karnataka. The power generated from windmills is sold to Bangalore Electricity Supply Company Limited (BESCOM) under a power purchase agreement. It has five shrimp feed manufacturing units, two shrimp processing units, a hatchery to produce shrimp larvae and a shrimp culture farm. Its products include raw shrimp, cooked shrimp, and value-added shrimp. Its value-added shrimps include marinated products, breaded products, skewers, and shrimp rings. It provides its products to various markets, such as Europe, Japan, Korea, China, Russia, Canada, and the Middle East.
Avanti Feeds Limited completed the acquisition of 50.1% stake in Srivathsa Power Projects Pvt Ltd from Asia Infrastructure Pte. Ltd, A. Indra Kumar,C. Ramachandra Rao,K. Rama Mohana Rao, A. Venkata Sanjeev and D. Rathnavathi for INR 38.41 million.