Omega Ag-Seeds Punjab has received an approval for acquisition of balance 75% stake in Gayatri Sea Foods and Feeds so as to make it a wholly owned subsidiary (WOS) of Omega Ag Seeds Punjab. This acquisition will make the company a sizeable player in agri and aqua segments which has a good potential for growth. The board of company at its meeting held on March 23, 2013 has approved for the same. The 25% stake having been acquired in terms of the resolution passed at the board meeting held on December 15, 2011.
Besides, the board has also decided to authorize the Managing Director of the company to make negotiations and take all necessary steps for facilitating the proposed acquisition.
Further, the board has also approved investment in the subsidiary of the company for funding the growth plans of the company through this acquisition and diversification programme as assessed by the board of directors from time to time.
Company Name | CMP |
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Venkys India | 1800.25 |
Mangalam Global Ent | 24.73 |
Kaveri Seed | 864.00 |
Harrisons Malayalam | 315.00 |
Simran Farms | 179.95 |
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