LT Foods acquires stake of Daawat Foods from United Farmers Investment Company

Upon completion of transaction, Daawat Foods become a wholly owned subsidiary of the Company LT Foods has completed the acquisition of 5,655,341 equity shares of Daawat Foods from United Farmers Investment Company. Upon completion of transaction, Daawat Foods become a wholly owned subsidiary of the Company. Earlier in November 2022, the company had received approval to execute Share Purchase Agreement with United Farmers Investment Company and Daawat Foods for the acquisition of 5,655,341 stake in Daawat Foods. LT Foods is a branded specialty foods company. It is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market.