Nagarjuna Agri-Tech Limited has successfully completed its acquisition of Allenby Food & Beverages Private Limited through a comprehensive share swap arrangement worth Rs. 144.74 crore. The board of directors approved the transaction during their meeting held on March 20, 2026, marking a significant expansion into the food and beverages sector.

Board Meeting Outcomes and Regulatory Compliance

The company filed its board meeting outcome with BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction received in-principle approval from BSE Limited on March 6, 2025, and was executed in accordance with the special resolution passed by shareholders in the Extra-ordinary General Meeting held on December 22, 2025.

Acquisition Structure and Financial Details

The acquisition was executed through the allotment of 2,12,86,020 equity shares of Nagarjuna Agri-Tech Limited at an issue price of Rs. 68 per share on a preferential basis. These shares were issued in exchange for 14,19,068 equity shares of Allenby Food & Beverages Private Limited at a ratio of 15:1 to the 31 equity shareholders of the target company.

Target Company Profile and Financial Performance

Allenby Food & Beverages Private Limited, incorporated on June 26, 2012, operates as a specialized food and beverages company with headquarters in Kolkata and multiple production units across West Bengal and North East zones. The company focuses on ready-to-eat products and maintains an extensive portfolio of snacking, bakery items, and instant noodles.

Strategic Impact and Related Party Transaction

The acquisition represents a related party transaction, with promoters and promoter group companies participating in the preferential issue through the share swap mechanism. The deal was executed at arm's length pricing based on a registered valuer's valuation report, ensuring compliance with regulatory requirements.

The transaction aligns with Nagarjuna Agri-Tech's strategic expansion plans in the food industry sector. The acquisition provides access to Allenby's established distribution network and product portfolio, particularly in the ready-to-eat segment and instant noodles market. With Allenby's remarkable revenue growth from Rs. 66 lacs in FY 2023-24 to Rs. 5,295.77 lacs in FY 2024-25, the acquisition brings substantial business scale to the combined entity.

Leadership Changes

In a separate development, the board cancelled the appointment of Mr. Biswanath Bhattacharya as Chief Executive Officer due to medical grounds. Mr. Bhattacharya was initially considered and appointed as CEO during the February 5, 2026 board meeting, but the position now remains vacant.

Transaction Completion

Following the completion of the share transfer, Allenby Food & Beverages Private Limited has become a 100% subsidiary of Nagarjuna Agri-Tech Limited. The transaction complies with Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and all necessary regulatory approvals have been obtained.

Nagarjuna Agri Tech Limited has successfully completed its strategic expansion into the food and beverages sector after shareholders overwhelmingly approved all resolutions at the Extraordinary General Meeting held on December 22, 2025. The company's three strategic acquisitions totaling Rs. 151.49 crores received requisite majority approval through electronic voting, marking a pivotal move to diversify its business portfolio.

EGM Voting Results

The EGM was conducted through Video Conferencing from 5:00 PM to 5:40 PM IST, with CS Mohit Vanawat serving as the scrutinizer. All eight resolutions were passed with overwhelming shareholder support:

Key Acquisitions Approved

Shareholders approved three strategic acquisitions that will establish the company's presence in the food and beverages sector:

Management Changes Approved

The EGM also approved significant management appointments to support the expanded operations:

Share Capital Enhancement

To facilitate the acquisitions, shareholders approved increasing the authorized share capital from Rs. 30.00 crores to Rs. 35.00 crores. The company will issue up to 2.13 crore equity shares at Rs. 68.00 per share through preferential allotment for the Allenby acquisition.

Strategic Business Focus

The approved acquisitions will establish Nagarjuna Agri-Tech's presence in:

• Allenby Food & Beverages: Comprehensive food and beverage operations
• Rafflesia Confectionary: Manufacturing of various bread products
• Aarini Gourmet LLP: Artisanal bread and custom cake specialization

Shareholding Impact

Post-acquisition, the promoter holding in Nagarjuna Agri-Tech will decrease from 63.11% to 35.09%, while introducing new non-promoter shareholders through the share swap arrangement with Allenby Food & Beverages.

Implementation Timeline

The cash acquisitions of Rafflesia Confectionary and Aarini Gourmet LLP are scheduled for completion on or before March 31, 2026, allowing for phased integration of the new business operations.

This strategic expansion positions Nagarjuna Agri-Tech to capitalize on the growing demand for ready-to-eat and artisanal food products while diversifying its revenue streams beyond its traditional agricultural technology focus.