M&A
Reliance to acquire 51% in Lotus Chocolate for Rs.74-Cr
Press Release BSE Announcement
Publicly listed Reliance Industries (RIL), via Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Retail Ventures Ltd, has agreed to acquire a 51% stake in Hyderabad-headquartered, publicly listed Lotus Chocolate Company Ltd at a price per share of INR 113 aggregating to INR 74 crore. RCPL will make an open offer for an additional 26%. Lotus is a manufacturer and supplier of chocolates, cocoa products and cocoa derivatives. For FY22, it reported a turnover of INR 86.97 crore and a Net Profit of INR 6.01 crore.
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