In a significant development in India's dairy industry, Sahyadri Agro and Dairy Private Limited (SADPL) has undergone a court-supervised shareholding restructuring as part of a debt resolution process. The Hon’ble High Court of Mumbai has ruled in favor of DB View Infracon Private Limited (DB View), leading to the transfer of 48.65% equity stake in SADPL to DB View after the closing of business hours on March 18, 2025. Subsequently, this stake will be transferred to Horizontal Ventures Private Limited, a step-subsidiary of the acquiring company, raising its ownership to 76.63%, thereby making SADPL a subsidiary.

Acquisition Details & Financials

SADPL, incorporated on October 5, 2010, operates in the dairy business, focusing on fresh milk procurement, handling, and distribution. The company plays a crucial role in bulk milk cooling station operations across Maharashtra, ensuring high-quality dairy supply to the industry.

The financial performance of SADPL over the last three years is as follows:

• FY 2023-24: ₹395.64 crore

• FY 2022-23: ₹424.41 crore

• FY 2021-22: ₹348.69 crore

The Hon’ble High Court of Mumbai has determined the fair value of shares at ₹88 per share. However, no fresh monetary transaction is involved, as the shareholding change is part of a legally mandated debt resolution process to recover outstanding dues.

Not a Related Party Transaction

This transaction does not fall under related party transactions as per regulatory norms. The acquiring entity and its promoter group have no direct interest in SADPL’s operations. The stake transfer is solely meant to enable debt recovery and optimize financial positioning.

Impact of Acquisition

• Financial Consolidation: By acquiring 76.63% of SADPL, Horizontal Ventures gains complete ownership, allowing for a unified disposal strategy.

• No Cash Consideration: The transaction is an enforcement of security rights, avoiding fresh investments.

• Long-Term Market Stability: A structured ownership will enhance the financial restructuring of SADPL, benefiting the broader dairy sector.

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