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.

Prime Fresh Limited has announced that its Board of Directors formally acknowledged the resignation of Independent Director Mr. Shekhar Mennon (DIN: 02262964) through a circular resolution dated December 13, 2025. The resignation was submitted with immediate effect on December 12, 2025, due to his other pre-occupations, marking the end of his tenure that began in 2021.

Board Resolution and Regulatory Compliance

The company filed the necessary disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board took formal note of the resignation letter received from Mr. Mennon via letter and email dated December 12, 2025.

Audit Committee Reconstitution

Following Mr. Mennon's resignation from the Audit Committee, Prime Fresh Limited has reconstituted the committee with effect from December 13, 2025. The new composition ensures continued governance oversight and regulatory compliance.

Other Directorships

Mr. Shekhar Mennon continues to hold directorships in other listed entities, demonstrating his experience in corporate governance. He serves as Non-Executive Independent Director at Baba Arts Limited, where he is a member of the Audit Committee and Nomination & Remuneration Committee, and Chairperson of the Stakeholders Relationship Committee. At Rose Merc Limited, he holds similar positions as Non-Executive Independent Director and serves as Chairperson of both the Audit Committee and Stakeholders Relationship Committee.

Corporate Governance Impact

The resignation letter confirmed that there are no material reasons for Mr. Mennon's departure other than his pre-occupations mentioned in the resignation communication. Prime Fresh Limited has maintained full regulatory compliance throughout the transition process, ensuring transparent disclosure to stakeholders and the stock exchange.