Sai Capital's material subsidiary acquires Butterfly Ayurveda; Stock down 4.5%

17 Aug 2022 , 03:16 PM

Sai Capital Ltd has informed that Health Care Energy Foods Private Limited, material subsidiary of the company, has acquired 100% equity of Butterfly Ayurveda Private Limited.

Accordingly, Butterfly Ayurveda Private Limited has become a wholly owned subsidiary of Health Care Energy Foods Private Limited and a step down subsidiary of the Company.

As per the filing, the objective of acquisition is for diversification and expansion of business. The Company constantly explores options for growing business and determined that this acquisition is in the best interest of the Company, said Sai Capital on Wednesday.

At around 3:15 PM, Sai Capital was currently trading at Rs64 per share down by Rs3 or 4.48% from its previous closing of Rs67 per share on the BSE.