Anik Industries to invest Rs 140 crore in hospitality cum mixed use project of Revera Milk

Anik Industries has decided to invest upto Rs 140 crore in one or more tranches in the proposed hospitality cum mixed use project of ‘Revera Milk and Foods’, a Company registered under the Indian Companies Act. The said investment will be in the mode of Optionally Convertible Debentures.

The company has also decided to invest upto Rs 30 crore in one or more tranches by purchase of majority equity stake of Sri Lanka based Company ‘Taras Industries’ from a foreign stakeholder under a strategic decision to augment international trading activities of the company.

Anik Industries is a part of the Indore based Ruchi group and is engaged in the processing of milk and milk products (78% of its total operating income in FY15) and commodity trading (22%).