Agro Tech Foods’ shares soared more than 3% following the announcement that the Competition Commission of India (CCI) has approved the company’s acquisition of Del Monte Foods Private Limited (DMFPL). As of 11:39 AM, Agro Tech Foods shares were trading 2.92% higher at Rs 896.35.
Key Highlights:
- CCI Approval: The Competition Commission of India gave the green light to Agro Tech’s acquisition of 100% of DMFPL’s equity shares.
- Acquisition Method: The acquisition will be executed through a preferential allotment of Agro Tech Foods’ equity shares to DMFPL’s current shareholders.
- Timeline: The approval, granted on January 22, 2025, is a crucial step in the finalization of the deal. Agro Tech had initially announced its intent to acquire DMFPL on November 14, 2024.
Agro Tech Foods shares opened at ₹876.00, reaching a high of ₹906.75 and a low of ₹867.75. The stock’s 52-week high stands at ₹1,152.00, while the 52-week low is ₹644.45.
