Bikaji Foods International has officially announced the complete acquisition of the remaining 48.78% equity stake in its subsidiary, Petunt Food Processors. This transaction elevates the target entity to the status of a wholly owned subsidiary under the Bikaji corporate umbrella.
In a regulatory filing, the company stated that it acquired 35,98,998 equity shares at a face value of Rs 10 each for a total cash consideration of Rs 8 crore. By increasing its previous holding of 51.22% to a full 100% stake, Bikaji aims to consolidate its investments and exercise complete ownership and control over the operations of the subsidiary.
This strategic consolidation is designed to strengthen the operational footprint of Bikaji within the southern territory of India, where Petunt Food Processors plays an integral business role. The acquisition was conducted on a strict arm’s length basis, noting that Bikaji promoter Deepak Agarwal also serves as a director within the newly wholly-owned subsidiary.
Incorporated in September 2017, Petunt Food Processors operates within the fast-moving consumer goods sector. The company is primarily engaged in the manufacturing, processing, packaging, and selling of various food products, with a specific focus on traditional Indian sweets and namkeen.
The subsidiary has demonstrated consistent revenue growth over the past three fiscal years leading up to this full acquisition. In the 2022 to 2023 financial year, the company recorded a turnover of Rs 36.36 crore, which increased to Rs 42.70 crore in the 2023 to 2024 financial year, and further rose to Rs 52.07 crore in the 2024 to 2025 financial year.
