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Patanjali Foods invests Rs 25 crore in wholly-owned subsidiary 'Contemporary Agro'
According to the Bombay Stock Exchange (BSE) filing, Patanjali acquired 2,50,00,000 equity shares of CAPL on September 23
Patanjali Foods strengthens farming initiatives with Rs 25 crore investment in CAP
Patanjali Food Limited on Monday informed the stock exchanges that the company has invested Rs 25 crore in its wholly-owned subsidiary, Contemporary Agro Private Limited (CAPL), by subscribing to equity share capital on a rights basis. According to the Bombay Stock Exchange (BSE) filing, Patanjali acquired 2,50,00,000 equity shares of CAPL on September 23. CAPL is a wholly-owned subsidiary of Patanjali Foods, backed by Baba Ramdev and Balkrishna.
"The main objective of the subsidiary Company is to provide training to farmers, to use other human resources in the field of farming, improve all type of farming and innovate in the area of farming, agriculture and plantation, to produce high quality of seed of fruits, vegetables and grains," Patanjali said.
Patanjali Foods incorporated two wholly-owned subsidiaries, Contemporary Agro and Rishikrishi Farming, in India in April 2024. This year, Patanjali Foods stated that its board of directors received approval from Patanjali Ayurved Limited for the sale of PAL's non-food business undertaking to the company. Patanjali ad case: ‘Supreme Court expresses disappointment over IMA’s ‘Minuscule’ apology
In the past, Patanjali Foods acquired the biscuits business of Patanjali Natural Biscuits Private Limited for Rs 60.03 crore in May 2021. The company also acquired the Noodles and Breakfast cereals business for Rs 3.50 crore in June 2021 and the food business in May 2022 for Rs 690 crore from Patanjali Ayurved Limited.
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