The board of LT Foods has approved proposed investment by Rabobank’s India Agri Business Fund II. The company board approved the infusion of equity capital into Nature Bio Foods (NBFL), which is a wholly owned subsidiary of the company.
This facilitates investment of up to Rs 140 crore in the global organic foods business in one or multiple stages, subject to concerned parties meeting predefined conditions in the joint agreement.
Ashwani Arora, Managing Director & CEO of LT Foods said, “The board approval for capital infusion will help us carry out our strategic vision for this business, which is to develop an extensive branded portfolio with a continuous growth in ingredient business as well.”
The company’s annual general meeting (AGM) is scheduled to be held on September 24, 2018.
The register of member and share transfer books of the company will remain closed from September 19 to 24 (both days inclusive) for the purpose of AGM and dividend.