Hatsun Agro Product (HAP) has further completed the acquisition of 2418 equity shares of Rs. 10 each of Milk Mantra Dairy (Target Company) from a shareholder of the Target Company by discharging the Gross Purchase Consideration of Rs. 10 lakh to the concerned shareholder of the Target Company, in the manner as specified in the SPA.
Till date HAP has purchased 30,92,964 equity shares of Rs. 10/- each and 16,06,372 compulsorily convertible preference shares of Rs. 10/- each of the Target Company by discharging the Purchase Consideration of Rs. 231.54 crore cumulatively.
This acquisition together with the earlier acquisition represents 98.40% of the current issued and paidup equity and preference share capital of the Target Company.