The shares of Hindustan Foods have done a share subscription agreement (SSA) to buy 25.07 percent share for Rs 5 crore in Asar Green Kabadi Private Limited. This stake will be purchased only after fulfilling the terms and conditions mentioned in the SSA and is expected to be completed by Q2 FY26.
The company will buy 24,643 Series B Compulsary Convertible Preference Share (CCPS) of Asar Green. Out of the total amount, 4 crore rupees have been given in cash, while the remaining 99.99 lakhs will be adjusted by Hindustan Foods in exchange for the outstanding loans given to Asar Green.
The stake does not fall under the related party transaction, and the promoter/promoter group of Hindustan Foods has no stake in Asar Green.
Asar Green Kabadi Private Limited is included in Waste Management, Scrap Collection, Recycling Solution and Circular Economy Service. Established on 24 November 2014, Asar Green is involved in collections, aggregation and recycling of West Material, which provides a waste management and circular economy solution equipped with technology.
Asar Green is present in India.
After the completion of the transactions mentioned under SSA, Hindustan Foods will have 25.07 percent of Asar Green’s total share capital (fully diluted basis).
The stake is expected to be completed by Q2 F 2025-26.