DSM Fresh Foods Incorporates Subsidiary Varuna Aquatech for Aquaculture and Fisheries Expansion

DSM Fresh Foods Incorporates Subsidiary Varuna Aquatech for Aquaculture and Fisheries Expansion​

DSM Fresh Foods Ltd has announced the incorporation of a new subsidiary, Varuna Aquatech Private Limited. The formation of Varuna Aquatech marks a key step in the company's expansion strategy within the aquaculture, fisheries, and food processing sectors.

The company confirmed the incorporation of the subsidiary, which has received its Certificate of Incorporation from the Central Processing Centre, Ministry of Corporate Affairs.

The subsidiary is positioned to undertake a comprehensive range of activities across the aquatic resource chain. Its primary objectives include carrying on aquaculture, fisheries, processing, trading, and export, alongside related allied activities.

Investment and Corporate Details​

Details regarding the initial corporate structure and investment in the subsidiary have been provided. The total subscription amount recorded was Rs. 70,960/-. For this investment, DSM Fresh Foods Ltd acquired a 70.96% shareholding in the new entity, utilizing cash consideration.

The key operational and corporate details of the subsidiary are presented below:

Business Objectives of Varuna Aquatech​

Varuna Aquatech Private Limited has defined a broad scope of work focused on maximizing the value chain of aquatic products. Its business objectives encompass multiple facets of the seafood industry:

1. Aquaculture and Fisheries: The subsidiary aims to conduct business in pisciculture, aquaculture, and mariculture, including all activities related to breeding, hatching, rearing, farming, and processing of fish, prawns, shrimps, crabs, lobsters, mollusks, and other aquatic organisms.
2. Production and Hatcheries: It intends to establish, own, operate, and manage various infrastructure, such as fish farms, hatcheries, ponds, and recirculatory aquaculture systems (RAS), for the cultivation of freshwater, brackish water, and marine species.
3. Seed and Fingerling Production: The company will focus on breeding and producing fish seeds, fingerlings, brood stock, and larvae for various species, including carp, tilapia, and pangasius.
4. Feed and Consumables: Varuna Aquatech is set to manufacture, process, and deal in essential inputs such as fish feed, aqua feed, feed supplements, probiotics, and water treatment chemicals.
5. Value Addition and Marketing: Key activities include processing, value addition, cleaning, grading, filleting, freezing, and packaging of fish products for both domestic and international markets.
6. Research and Development: The subsidiary will also carry out research, development, consultancy, and training services in fisheries, aquaculture, and sustainable marine practices.

Stock Price Movement​

As of 11:06, DSM Fresh Foods Ltd shares are ticking up to ₹113.00, representing a gain of 2.56% for the day. The equity has traded within a notable intraday range, hitting a low of ₹112.90 and peaking at a high of ₹115.45.