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IFB Agro Industries gets nod to invest upto Rs 40 crore in IFB Refrigeration

18 Jan 2022 Evaluate

IFB Agro Industries has received approval from board of directors for an investment of up to Rs 40 crore in Equity Shares and/or Compulsorily Convertible Preference Shares (CCPS) of IFB Refrigeration (IRL) in one or more tranches for a minority stake.

The Company keeps evaluating proposals for equity investment in diverse business as an alternative to investment in mutual funds. Refrigerator’s business being a necessity for every household in the pandemic situation looks promising. Further IRL has an experienced project team in place. 

The total investment shall be in two tranches. The first tranche of investment will be in equity Shares and Compulsorily Convertible Preference Shares respectively, whereas the second tranche will be in CCPS only. The audit committee in its meeting held on January 17, 2022, has approved the same.

IFB Agro Industries is primarily engaged in the business of manufacturing alcohol, bottling of branded alcoholic beverages as well as processed marine foods both for domestic and export markets.  

IFB Agro Inds Share Price

901.85 3.20 (0.36%)
24-Apr-2026 09:25 View Price Chart
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