Prime Fresh Limited has invested ₹14.00 lakh in its subsidiary company Florens Farming Private Limited through a private placement of equity shares. The investment was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Investment Details

The company acquired 7,00,000 partly paid-up equity shares in Florens Farming Private Limited with the following structure:

The transaction represents a related party transaction as Florens Farming is a subsidiary of Prime Fresh Limited. The acquisition was conducted at arm's length based on an independent valuation report.

About Florens Farming Private Limited

Florens Farming Private Limited, incorporated on December 27, 2016, operates in the agriculture sector with a comprehensive business model covering multiple aspects of farming and agro-based activities. The subsidiary engages in farming, agriculture, and horticulture activities, including cultivation, production, processing, and trading of various agro-based products.

The company's operations encompass:

• Cultivation and production of crops, seeds, plants, fruits, and vegetables
• Processing and trading (import/export) of agro-based products
• Land acquisition through lease, contract farming, and ownership arrangements
• Related agricultural produce activities

Financial Performance

Florens Farming has demonstrated growth over the past three financial years:

Strategic Objectives

The investment aims to finance the development and expansion of Florens Farming's business operations. This capital infusion aligns with Prime Fresh Limited's strategy to strengthen its presence in the agriculture sector through its subsidiary operations. The cash consideration approach provides immediate liquidity support for the subsidiary's growth initiatives.

The transaction was completed with cash consideration, and Prime Fresh Limited has received the allotment letter confirming the share acquisition.

Prime Fresh Limited has announced a comprehensive land acquisition strategy to strengthen its agri-supply chain ecosystem across Maharashtra. The company has secured three strategic locations through a combination of ownership and lease arrangements, marking a significant expansion in its operational footprint.

Land Acquisition Portfolio

The company's expansion includes one owned property and two leased parcels across Nashik district. Prime Fresh executed a sale deed for 6 acres of owned land and secured long-term lease agreements for additional acreage to support its growth strategy.

Financial Investment Details

The owned land acquisition in Shrirampurvillage involved a total consideration of ₹1.33 crores. The company completed the transaction with five individual sellers, ensuring compliance with regulatory requirements under SEBI Regulation 30.

Strategic Development Plan

Prime Fresh Limited aims to build a new Sinnar Agro Park cluster through these acquisitions. The expansion strategy focuses on multiple operational enhancements including backward integration with farmers, direct sourcing partnerships at farm level, and addition of new product categories for portfolio diversification.

Management Commentary

Mr. Hiren Ghelani, Founder and Whole Time Director, emphasized the strategic importance of the expansion: "The successful execution of the sale deed for the 6-acre land acquisition in Nashik marks a meaningful stride in PFL's growth journey. This strategic investment lays the groundwork for deeper farmer integration, expansion into new product categories and enhanced scale and visibility across our existing portfolio within the F&V supply chain."

Company Operations Overview

Established in 2007 and listed on BSE since March 2017, Prime Fresh Limited operates as a fully integrated agri-value chain company. The company maintains a network of over 1,20,000 farmers across 18 states and handles more than 450 tonnes of fresh fruits and vegetables from 16+ locations with annual sourcing capacity exceeding 2,00,000 tonnes.