FMCG company Dabur India Ltd has announced completion of acquiring 51% stake in spices maker Badshah Masala for Rs 587.52 crore.
Dabur India said today in a stock exchange filing that the share purchase agreement (SPA) and shareholders agreement (SHA) executed by Dabur India Ltd with the existing promoters and shareholders of Badshah, Dabur has acquired 51% equity shareholding of Badshah from its shareholders upon fulfilment of terms and conditions as per SPA and SNA and the said transaction has been completed on 2nd January 2023. Consequent to the above transaction, Badshah Masala Pvt Ltd has become a subsidiary of Dabur India Limited w.e.f. today i.e. 2 January 2023.
On Wednesday of the last week, Dabur India informed the stock exchanges that “Pursuant to provisions of Regulations 29 and 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, the 2nd February 2023 to inter alia, consider and approve the unaudited financial results of the Company for the quarter/nine months ending on 31 December 2022."
The shares of Dabur India Ltd closed today at ₹562.90 apiece level, up by 0.26% from the previous close of ₹561.45. The stock recorded a total volume of 564,453 shares compared to the 20-Day average volume of 2,157,171 shares. In the last 1 year the stock has fallen 3.14%. The stock had touched a 52-week-high of ₹610.75 on (07-December-2022) and a 52-week-low of ₹482.25 on (17-June-2022), indicating that at the current market price the stock is trading 7.83% below the 1 year high and 16.72% above the 1 year low.
