Updates on Acquisition of SNA Milk and Milk Products Limited and DFSU Farmer Connect Private Limited.
M&A
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 09 Jul 2026, 09:07 PM IST · BSE ID: 112d7163-f2a8-4e0b-b202-1da9dbe310d9
View Original BSE Filing (PDF)
💡
In Simple Terms
The company issued new shares and convertible instruments to fully acquire two dairy and food product businesses.
🤖 AI Summary
- Desi Farms India Limited allotted 3,18,24,590 Equity Shares for the acquisition of target entities.
- The allotment also includes 34,54,600 3% Compulsorily Convertible Non-Cumulative Preference Shares.
- Additionally, 49,59,956 5% Compulsorily Convertible Debentures were issued as part of the share swap.
- Desi Farms acquired 96.91% stake in SNA Milk and Milk Products Limited and 99.95% in DFSU Farmer Connect Private Limited.
- SNA Milk and Milk Products Limited reported a turnover of ₹33,74,44,514/- for its most recent financial year.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Equity Shares Allotted
3,18,24,590
3% Compulsorily Convertible Non-Cumulative Preference Shares Allotted
34,54,600
5% Compulsorily Convertible Debentures Allotted
49,59,956
SNA Milk & Milk Products Limited Stake Acquired
96.91%
DFSU Farmer Connect Private Limited Stake Acquired
99.95%
SNA Milk Turnover (Most Recent Financial Year)
₹33,74,44,514/-
🏢 How This Affects the Company
The acquisition enables Desi Farms India to enter the milk and milk products and ice cream manufacturing sectors, diversifying its business operations from logistics.
The transaction uses a share swap, resulting in equity dilution and an increase in preference shares and debentures on the balance sheet for the acquisitions.
The company will integrate SNA Milk's established production facilities and supply chain, along with DFSU's product development and distribution capabilities, into its operations.
The acquisition is a related party transaction, as Mr. Sunil Kumar Shahi, a Promoter/Promoter Group member, is a Director/Shareholder of the target entities. The transaction was executed at "arm’s length" based on a Registered Valuer's report.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this acquisition update.
👤
Who Is Affected
Existing shareholders will experience dilution due to the issuance of 3,18,24,590 new Equity Shares, 34,54,600 3% Compulsorily Convertible Non-Cumulative Preference Shares, and 49,59,956 5% Compulsorily Convertible Debentures to the shareholders of SNA and DFSU.
🔍
Management Signal
Management intends to strategically expand and diversify the company's business operations beyond logistics into the milk, milk products, and ice cream manufacturing sectors.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q1 FY27 results — review consolidated revenue and profitability post-acquisition.
Future disclosures on integration progress and operational synergies from acquired entities.
Review annual report for detailed financial performance of SNA and DFSU post-acquisition.
MEDIUM RISK
Integration risk for new acquisitions, especially with one target being recently incorporated, and the related party nature of the transaction.
💡 Investor Takeaway
Desi Farms India Limited completed the acquisition of 96.91% of SNA Milk and Milk Products Limited and 99.95% of DFSU Farmer Connect Private Limited. This was achieved via a share swap involving 3,18,24,590 Equity Shares, 34,54,600 3% Compulsorily Convertible Non-Cumulative Preference Shares, and 49,59,956 5% Compulsorily Convertible Debentures. SNA Milk reported a turnover of ₹33,74,44,514/- for the most recent financial year.
⚖️ Strengths & Concerns
✅ Positives
- Acquisition provides diversification into the stable, consumption-driven dairy sector, enhancing business portfolio.
- The acquisition of 96.91% of SNA and 99.95% of DFSU provides significant control over the acquired entities' operations.
⚠️ Concerns
- DFSU Farmer Connect Private Limited was incorporated on 27th August, 2025, indicating a limited operational history for one of the acquired entities.
- The acquisition involves a related party transaction, though stated to be at "arm's length" based on a valuation report.
📅 Company Track Record
Desi Farms India has been actively pursuing these acquisitions, with previous intimations on July 4, 2026, and July 7, 2026, detailing earlier acquisition stages of 71.09% and 73.66% stakes in SNA Milk respectively, and initial acquisition of DFSU. DFSU Farmer Connect Private Limited was incorporated on August 27, 2025, indicating a limited operating history.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What stake did Desi Farms India Limited acquire in SNA Milk and Milk Products Limited?
Desi Farms India Limited acquired a 96.91% stake in SNA Milk and Milk Products Limited on a fully diluted basis through a share swap.
What stake did Desi Farms India Limited acquire in DFSU Farmer Connect Private Limited?
Desi Farms India Limited acquired a 99.95% stake in DFSU Farmer Connect Private Limited through a share swap.
What was the turnover of SNA Milk and Milk Products Limited for the most recent financial year?
SNA Milk and Milk Products Limited recorded a turnover of ₹33,74,44,514/- for its most recent financial year.
What type of consideration was used for the acquisition of SNA Milk and DFSU by Desi Farms India Limited?
The acquisition was undertaken for consideration other than cash, primarily through a share swap involving Equity Shares, Compulsorily Convertible Non-Cumulative Preference Shares, and Compulsorily Convertible Debentures.
Is the acquisition of SNA Milk and DFSU by Desi Farms India Limited a related party transaction?
Yes, the acquisition is a related party transaction, with Mr. Sunil Kumar Shahi, a Promoter/Promoter Group member, being a Director/Shareholder of the target entities. The transaction was executed at "arm’s length" based on a Registered Valuer's report.
Questions based on this BSE filing only. For information purposes.