DSM Fresh Foods Ltd. Approves 100% Stake Acquisition in Avyom Foodtech, Appoints New Secretarial Auditor
DSM Fresh Foods Ltd. announced material corporate decisions following its Board meeting held on June 02, 2026. The Board approved the appointment of Harish Kumar & Associates as the Secretarial Auditor and ratified a strategic investment aimed at increasing its stake in Avyom Foodtech Private Limited to 100%.The board meeting reviewed the company's structure and future strategic direction, solidifying its presence within the food processing and allied sector through the proposed acquisition.
Governance and Compliance Update
During the meeting, the Board of Directors also approved the appointment of Harish Kumar & Associates, Company Secretaries, Greater Noida West, to serve as the Secretarial Auditors of the Company for the financial year ended on March 31, 2026. Harish Kumar & Associates are a firm of Practicing Company Secretaries that has been peer reviewed by the Institute of Company Secretaries of India (ICSI).Key details regarding the appointment are as follows:
| Particulars | Details |
|---|---|
| Auditor Appointed | Harish Kumar & Associates |
| Scope | Secretarial Audit |
| Financial Year Covered | Ended on March 31, 2026 |
| Nature of Appointment | Appointment |
Strategic Acquisition of Avyom Foodtech Private Limited
The most significant approval was the enhancement of the company's investment in Avyom Foodtech Private Limited. Previously communicating an investment for 76% of the equity shares, the Board approved increasing its stake to 100% of the equity shares of Avyom Foodtech Private Limited.The investment is a strategic acquisition by way of participating in a preferential issue, designed to strengthen DSM Fresh Foods Limited's standing in the food processing and allied sector. Avyom Foodtech Private Limited, which was formerly known as IEY Education Private Limited, operates in the business of manufacturing, processing, and distributing various food products, including ready-to-eat, frozen, and ambient food items.
The acquisition is intended to help Avyom Foodtech Private Limited facilitate a proposed slump sale of its operational food processing business from Ambrozia Frozen Foods.
| Aspect | Details |
|---|---|
| Target Company | Avyom Foodtech Private Limited |
| Previous Stake | 75% |
| Approved Stake | 100% (Full Acquisition) |
| Transaction Method | Preferential Issue |
| Cost of Acquisition | Up to 10.00 crores (Rupees Ten Crore only) |
| Transaction Consideration | Cash Consideration through banking channels |
| Investment Timeline | Within 3-9 months from the date of Board approval |
The board notes that the transaction is classified as a related party transaction, as the promoters and directors are common across both DSM Fresh Foods Limited and Avyom Foodtech Private Limited, and the deal is proposed to be executed on an arm's length basis.
Financial Profile and Expected Impact
Avyom Foodtech Private Limited was incorporated on July 22, 2022. The company's turnover history shows the following figures:| Financial Year | Turnover (INR) |
|---|---|
| FY 2022-23 | Rs. 7,17,880 |
| FY 2023-24 | Rs. 19,55,955 |
| FY 2024-25 | Rs. 14,90,284 |
The acquisition is expected to deliver significant operational synergies, facilitate product portfolio expansion, and enhance the market reach of DSM Fresh Foods Limited. Upon completion, Avyom Foodtech Private Limited will become a wholly owned subsidiary of DSM Fresh Foods Limited.
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