iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Britannia Industries, BDPL, and Bel SA form JV for sale of cheese products; stock rises ~2%

29 Nov 2022 , 04:02 PM

Britannia

Britannia Industries Limited informed that it has entered into a Joint Venture Agreement (JVA) with Bel SA, France, and Britannia Dairy Private Limited (BDPL) on November 29, 2022, for the development, manufacturing, marketing, distribution, trading, and selling, etc., of cheese products. The JV will target the Indian markets along with some other countries.

As per the terms of the JV, Britannia plans to sell and transfer 49% of its stake in its wholly-owned subsidiary, BDPL, to Bel SA. The transfer will be in compliance with the terms of the Share Purchase Agreement entered between Britannia and Bel on November 29, 2022.

Upon completion of the agreement, Bel SA will become the legal and beneficial owner of 49% equity share capital of the BDPL. Britannia Industries shall continue to hold the remaining 51% stake in BDPL.

Britannia highlighted that resultantly, BDPL will become a Joint Venture company of Britannia and Bel SA in India. The JV intends to carry on the cheese business in India.

BDPL will allot the shares to both companies as per the agreement. The consideration has been fixed at Rs214.90 crore for Britannia, and Rs206.50 crore for Bel SA.

Currently, BDPL only engages in the Cheese business which includes marketing, trading, and selling of cheese products. During FY 2021-22, BDPL has a turnover of Rs340 crore, equalling about 2.4% of the consolidated sales of Britannia Industries.

At around 2.41 PM, Britannia Industries was trading at Rs4,278.60 per piece, 1.58% from its previous closing of Rs4,212.15 on the BSE. The scrip touched intraday high and low of Rs4,300.80 and Rs4,224.30 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Britannia Industries
  • Britannia Industries BDPL
  • Britannia Industries Bel SA JV
  • Britannia Industries JV
  • Britannia Industries news
  • Britannia Industries Updates
  • Joint Venture
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.