As part of the transaction, the company has acquired 32.75% stake in Satiya Nutraceuticals on a fully diluted basis and requisite majority control over its board composition and total voting rights. Accordingly, it has become a subsidiary of the company and the acquisition of remaining stake of 25.25% on a fully diluted basis will be completed in tranches by May 2025, subject to terms and conditions of the definitive agreements.
Marico, owner of the Parachute oil brand, has so far bought a 32.75% stake in Satiya Nutraceuticals and will complete the acquisition of the remaining stake in tranches by May 2025
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The acquisition of 32.75% of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, through primary infusion and secondary buyouts, was completed on 26 July 2023.