Desi Farms India Completes Preferential Allotment of CCPS Shares in Share Swap Deal
Desi Farms India Ltd, formerly known as SER Industries Limited, has completed the allotment of 3% Compulsorily Convertible Non-Cumulative Preference Shares (CCPS) through a preferential basis. The shares were allotted to promoters and non-promoters for a total consideration of Rs. 37,88,37,000.The company issued 28,06,200 CCPS at an issue price of Rs. 135/- per share. This pricing included a premium of Rs. 125/-, while the face value of each CCPS was Rs. 10/-.
The preferential allotment was executed for non-cash consideration and involved a share swap, which facilitated the acquisition of SNA Milk and Milk Products Limited (SNA) on a fully diluted basis by Desi Farms India Ltd.
Subscription details for the CCPS are as follows:
| Metric | Detail |
|---|---|
| Type of Security Issued | 3% Compulsorably Convertible Non-Cumulative Preference Shares ('CCPS') |
| Issuance Type | Preferential Allotment |
| Total Securities Issued | 28,06,200 CCPS |
| Issue Price per CCPS | Rs. 135/- |
| Total Aggregate Value | Rs. 37,88,37,000 |
| Number of Investors | 152 |
The allotment included persons belonging to the promoter/promoter group, as well as various non-promoters. The comprehensive list of allottees and the number of CCPS allotted to each party has been recorded.
Stock Price Movement
Desi Farms India Ltd shares settled at ₹640.95 on Monday, finishing completely unchanged for the session. The stock moved within a substantial intraday range, hitting a low of ₹608.95 but peaking at ₹640.95 before closing.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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