HMA Agro Industries Ltd

HMA Agro Divests Two Non-Operating Subsidiaries 🏢➡️👥

- HMA Agro approved divestment of its entire equity stake in two wholly owned subsidiaries: FNS Agro Foods Limited (895,593 shares) and Laal Agro Food Private Limited (9,999 shares).

- Both subsidiaries are not engaged in active business operations and contributed 0% to turnover as of March 31, 2025.

- Net worth of FNS Agro Foods Limited was ₹50.71 million (0.64% of total) and Laal Agro Food Private Limited was ₹11.41 million (0.14% of total).

- Buyers include individuals from the promoter/promoter group: Gulzar Ahmad, Mohammad Ashraf Qureshi, Mohammad Mehmood Qureshi, Mohammad Kamil Qureshi, Wajid Ahmed or Gulzeb Ahmed, Parvez Alam, and Zulfiqar Ahmad Qureshi.

- The transaction is a related party transaction but conducted at arm's length.

- Expected completion date is May 30, 2025; consideration to be based on a valuation report from a registered valuer.

- Post-divestment, FNS and Laal will cease to be subsidiaries of HMA Agro.