Parvati Sweetners and Power Ltd reported that the process to acquire a 51% equity stake in Vedshree Food Industries Private Limited is progressing smoothly. The company confirmed that all procedural steps and documentation required under the Share Purchase Agreement are advancing as planned.

The transaction, initially disclosed on May 30, 2026, received necessary approvals from the Audit Committee and the Board of Directors. Shareholders subsequently approved the proposal in a General Meeting. Following these internal clearances, the company is currently securing the required approvals from relevant government authorities.

Regulatory and procedural status

The update was filed with the BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the acquisition remains on track for completion within the stipulated timeline. All conditions precedent outlined in the agreement are being addressed actively.

Parvati Sweetners indicated it will continue to inform the stock exchange of any further material developments or the final completion of the deal. The target entity, Vedshree Food Industries Private Limited, represents a strategic expansion for the Bhopal-based sweetener and power manufacturer.

Parvati Sweetners and Power Limited convened its 15th Annual General Meeting (AGM) on September 29, 2026, seeking member approval for a strategic acquisition and executive remuneration updates. The meeting, conducted via video conferencing, focused on the proposed purchase of a 51% equity stake in a related party entity.

The most significant item on the agenda was the special resolution to acquire 51% of the paid-up equity share capital of M/s Vedshree Food Industries Private Limited. The company proposes to purchase or subscribe to 5,100 equity shares with a face value of ₹10 each. The total consideration for this transaction is set at ₹6 crore. This acquisition involves a related party, as indicated by the company's disclosures under SEBI (LODR) Regulations.

Board and Governance Updates

The AGM also addressed the re-appointment of key personnel and auditor remuneration. Members were asked to approve the re-appointment of Ms. Pooja Shree Chouksey as a director, who retired by rotation. Additionally, a special resolution sought approval for the appointment and remuneration of Mrs. Poonam Chouksey as Managing Director for a period of three years.

Under the proposed terms, if the company reports no profits or inadequate profits, the remuneration payable to the Managing Director shall not exceed ₹84 lakh per annum, provided the effective capital is between ₹5 crore and ₹100 crore. This aligns with Schedule V limits of the Companies Act, 2013.

Auditor Remuneration Ratification

Members also ratified the remuneration payable to the Cost Auditors for FY27. The board had appointed M/s Sanjay Kasliwal & Associates as Cost Auditors. The ratified annual fee is ₹30,000, plus applicable taxes and reimbursement of out-of-pocket expenses incurred during the audit process.

Meeting Logistics and Voting

The meeting was held virtually in compliance with MCA circulars permitting AGMs through Video Conferencing (VC) or Other Audio Visual Means (OAVM). A total of 33 members attended the meeting through VC, meeting the quorum requirement. Electronic voting results will be announced separately within two working days following the receipt of the scrutinizer's report.