Announcement • Feb 03
DFM Foods Limited to Report Q3, 2023 Results on Feb 10, 2023 DFM Foods Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Announcement • Jan 07
AI Global Investments (Cyprus) PCC Limited completed the acquisition of 21.1% stake in DFM Foods Limited (BSE:519588) from the shareholders. AI Global Investments (Cyprus) PCC Limited expressed an intent to acquire an remaining 26.3% stake in DFM Foods Limited (BSE:519588) from the shareholders for INR 3.5 billion on August 15, 2022. The consideration is yet to be decided. As of December 6, 2022, the floor price is set at INR 263.8 per share. The transaction is subject to approval by the board and shareholders of DFM Foods. The Board of Directors of the Company is required to constitute a committee of independent directors to provide its written reasoned recommendation on the Delisting Offer. The transaction is also subject to regulatory approvals. As of August 25, 2022, the DFM Foods board has approved the transaction. As of October 1, 2022, the DFM shareholders has approved the acquisition. Equity Shares acquired by the Acquirer under the Delisting Offer to be equal to or in excess of such number of Equity Shares constituting 90% (ninety percent) of the equity share capital of the Company (“Minimum Acceptance Condition”). DFM Foods will be delisted upon successful completion of offer. The tender offer will commence on December 13, 2022, and close on December 19, 2022. AI global received bid for 88,43,709 shares at INR 525 per share. As the post Delisting Offer shareholding of the Acquirer, along with the other promoter and promoter group members, has exceeded 90% (92.60%) of total issued number of Equity Shares, the Delisting Offer is deemed successful in terms of Regulation 21 of the Delisting Regulations. The Manager to the Offer, on behalf of the Acquirer and PAC, have rejected the Discovered Price of INR 525 per Equity Share and launched a counter offer at a price of INR 467 per Equity Share for a 26.3% stake. The counter tender offer will open on December 30, 2022, and close on January 5, 2023.
JM Financial Limited (BSE:523405) is acting as a financial advisor to AI Global Investments (Cyprus) PCC Limited. Link Intime India Pvt. Ltd. acted as a registrar to AI Global Investments (Cyprus) PCC Limited.
AI Global Investments (Cyprus) PCC Limited completed the acquisition of 21.1% stake in DFM Foods Limited (BSE:519588) from the shareholders on January 5, 2023. Announcement • Nov 03
DFM Foods Limited to Report Q2, 2023 Results on Nov 14, 2022 DFM Foods Limited announced that they will report Q2, 2023 results on Nov 14, 2022 
