Hindustan Foods shines on executing BTA for acquisition of manufacturing facility of Reckitt

Hindustan Foods is currently trading at Rs. 730.60, up by 34.75 points or 4.99% from its previous closing of Rs. 695.85 on the BSE.

Hindustan Foods
Hindustan Foods

The scrip opened at Rs. 721.00 and has touched a high and low of Rs. 730.60 and Rs. 711.40 respectively. So far 730 shares were traded on the counter.

The BSE group ‘T’ stock of face value Rs. 2 has touched a 52 week high of Rs. 749.15 on 05-Dec-2022 and a 52 week low of Rs. 328.73 on 21-Jun-2022.

Last one week high and low of the scrip stood at Rs. 730.60 and Rs. 650.00 respectively. The current market cap of the company is Rs. 7845.20 crore.

The promoters holding in the company stood at 64.85%, while Institutions and Non-Institutions held 12.59% and 22.56% respectively.

Hindustan Foods (HFL) has executed Business Transfer Agreement (BTA) for acquisition of Reckitt Benckiser Health India’s (Reckitt) manufacturing facility in village Sandholi, Baddi, Himachal Pradesh (Undertaking) as a move to further expand its Health Care & Wellness division.

Subject to fulfilment of the conditions precedent set out under BTA, the transfer of the Undertaking is expected to be completed by H2 of calendar year 2023.

Upon completion, this acquisition will further enhance the company’s offerings in the OTC Healthcare and Wellness segment.

The manufacturing facility is into manufacturing of vast variety of OTC health and wellness products and skin creams including some of Reckitt’s key products. It is a state‐of‐the‐art facility with modern equipment and machinery and at par with global standards and adheres to the US FDA & MHRA, Russia GMP norms.

HFL specializes in setting up one-stop contract manufacturing solutions and the ability to consistently deliver quality products.

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