The Board of directors of Hindustan Foods Ltd at its meeting held today, April 18, 2019 (started at 1:30 p.m. and concluded at 02:30 p.m.) has considered and approved the proposal to subscribe to 8.46% of the paid-up equity share capital of ATC Beverages Private Limited.
ATC Beverages Private Limited ('ATC') was incorporated on 07th June 2004. It was incorporated as a private limited company in Karnataka, engaged in the business of manufacture and distribution of beverages like soft drinks, juices and energy drinks. The company is also carrying on the business of contract manufacturing of carbonated beverages and fruit juices.
The cash consideration for the acquisition of 8.46% of the paid-up equity share capital of ATC will be through conversion of loan amounting to Rs.1.75 crores given to ATC into equity shares of ATC. This transaction is expected to be completed by end of May 2019.
Shares of HINDUSTAN FOODS LTD. was last trading in BSE at Rs.414 as compared to the previous close of Rs. 424.95. The total number of shares traded during the day was 9675 in over 102 trades.
The stock hit an intraday high of Rs. 439 and intraday low of 411.1. The net turnover during the day was Rs. 4083171.