Magson Retail incorporates INDOGOURMET LLP with 51% stake

Magson Retail and Distribution Limited has incorporated a new subsidiary named INDOGOURMET LLP to expand its operations in the food sector. The Ministry of Corporate Affairs issued the Certificate of Incorporation on June 17, 2026. This strategic move allows the company to diversify into trading, manufacturing, and dealing in a wide range of gourmet and processed food products.

The company has contributed ₹5,100 towards the capital contribution of the LLP, securing a 51% stake in the total capital and profit-sharing ratio. The total capital contribution of INDOGOURMET LLP stands at ₹10,000. The investment has been classified as a related party transaction, though it is not considered material based on the audited financial statements for the financial year ended March 31, 2026.

Key Details of INDOGOURMET LLP

Detail	Information
Name of Entity	INDOGOURMET LLP
Date of Incorporation	June 17, 2026
Total Capital Contribution	₹10,000
Magson Retail's Stake	51%
Magson Retail's Contribution	₹5,100
Country of Operations	India

The newly formed LLP will undertake business activities related to trading, manufacturing, export, and import of various food items. Its scope includes gourmet foods, ready-to-eat products, snacks, bakery items, confectionery, dairy products, frozen foods, and both vegetarian and non-vegetarian foods. Additionally, the entity will deal in processed and semi-processed fruits and vegetables, as well as materials required for food preparation.

The promoters and promoter group hold an interest in the LLP to the extent of their shareholding in Magson Retail and Distribution Limited. The company confirmed that the investment was conducted at arm's length. No specific governmental or regulatory approvals were required for this acquisition, and the transaction has already been completed.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.43%	-0.06%	-9.60%	+40.47%	+14.29%	+67.19%

Magson Retail and Distribution Limited’s board has approved a plan to raise ₹4 crore through the preferential allotment of securities to non-promoters, subject to shareholder approval. The decision, taken on June 16, 2026, involves issuing 0% unsecured compulsory convertible debentures (CCDs) and equity shares to strengthen the company's capital base.

Preferential Issue of CCDs

The board approved the issuance of up to 3,00,000 fully paid-up 0% unsecured CCDs with a face value of ₹100 each, aggregating ₹3,00,00,000. These instruments will be allotted to Kirit Jaisingh Maganlal, a non-promoter. The CCDs will be compulsorily convertible into equity shares with a face value of ₹10 each within 18 months from the date of allotment. The conversion price will be determined based on regulations 164 or 166A of the SEBI ICDR Regulations, using the relevant price 30 days prior to the conversion date.

Preferential Issue of Equity Shares

Additionally, the company approved issuing up to 61,200 fully paid-up equity shares to non-promoters, raising ₹1,00,04,976. The shares will be allotted at a price of ₹163.48 per share, including a premium of ₹153.48. The allottees include Atul Hariharbhai Brahmbhatt and Prajapati Dharmendrabhai.

Details of Allottees

S. No.	Name of the Proposed Allottees	Category	Maximum Number of Securities
1.	Kirit Jaisingh Maganlal	Indian Individual Non-Promoter	3,00,000 CCDs
1.	Atul Hariharbhai Brahmbhatt	Indian Individual Non-Promoter	48,960 Equity Shares
2.	Prajapati Dharmendrabhai	Indian Individual Non-Promoter	12,240 Equity Shares

Shareholder Approval and EGM

To facilitate these proposals, the board convened an extraordinary general meeting (EGM) scheduled for July 15, 2026, at 3:00 PM IST via video conferencing. The company fixed June 15, 2026, as the relevant date for determining the issue price of the equity shares. CS Kunal Sharma was appointed as the scrutinizer for the e-voting process. Den Valuation (OPC) Private Limited, an independent registered valuer, submitted the valuation report for calculating the minimum floor price.