Wardwizard Foods & Beverages Ltd Company Summary

Wardwizard Foods & Beverages Ltd Summary

Wardwizard Foods & Beverages Limited (formerly known Vegetable Products Limited) was established & started working on June 13, 1953 with manufacturing of vegetable edible oil products. The Company changed its name from Vegetable Products Limited to Wardwizard Foods and Beverages Limited on August 03, 2022. The Company is one of the manufacturers of ready-to-eat products and frozen food items, and beverages along with a segment of top-quality sauces, dressings, mayonnaise, and condiments.The Companys production was discontinued effective from the financial year 2011. However, due to non clearance by the Pollution Control Board, the Company could not restart its production. Hence, the Board at its meeting held on 22nd January, 2015 approved the proposed project viz; Responce City for building Housing Complex on the Land of the Company.In 2022-23, there has been change in the control & management of the Company. Mrs. Sheetal Mandar Bhalerao, Mr. Yatin Sanjay Gupte and Wardwizard Solutions India Private Limited, acquired 2,70,57,520 equity shares of Re. 1/- each representing 24.78% of the paid-up capital of the Company by way of Share Purchase Agreement dated 5th February, 2022 between the existing promoters & Acquirers. The Acquirers made Open Offer of 3,88,46,692 equity shares of Rs. 1/- each at an offer price of Rs. 5/- per share representing 35.57% of the paid-up capital of the Company. The open offer process got completed on April 22, 2022 and entire Board of the Company was changed on 21st May, 2022. Resulting the open offer process, the Company changed its main object in the Board meeting held on 17th June, 2022 and shareholders approval taken through resolution was passed on 30th July, 2022 to carry out the business activities of frozen foods, ready to eat foods, aerated drinks, soft drinks, drinking water and other foods and beverages items. The Company acquired the Business of Yeppy foods and Safpro Industries Pvt. Ltd on 24th September, 2022.