ADF Foods Merger & Restructuring Worth ₹0.22 Cr
ADF Foods Limited is incorporating a wholly owned step-down subsidiary in Ireland for EUR 20,000 to facilitate ease of doing business in Europe.
- Value
- ₹0.22 Cr
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ADF Foods Limited is incorporating a wholly owned step-down subsidiary in Ireland for EUR 20,000 to facilitate ease of doing business in Europe.
ADF Foods approved a ₹10 Crore investment in its subsidiary, Telluric Foods (India) Limited. The funds will support brand building and working capital requirements.
ADF Foods Limited announced the amalgamation of its step-down subsidiaries, ADF Foods (India) Limited and Telluric Foods Limited. The merger aims to simplify the corporate structure and rationalize costs. No shares will be issued as the transferor is a wholly-owned subsidiary of the transferee, resulting in no change to the parent company's shareholding pattern.