Dodla Dairy stock skyrockets over 13% on acquisition of Sri Krishna Milks

21 Mar 2022 , 11:08 AM

Dodla Dairy Ltd stocks skyrocketed 13% after the company announced that it has executed a Business Transfer Agreement (“Agreement”) with Sri Krishna Milks Private Limited (“SKMPL”) for acquisition of Business as a “going concern” and on a slump Purchase basis for consideration of Rs50 crore on the terms and conditions more specifically defined in the Agreement.

As per regulatory filing, SKMPL belongs to dairy products while it is incorporated on March 23, 1989 and  was emerged on the horizons of Indian Dairy Industry in 1989 being first Private Sector Dairy Company in the State of Karnataka.

SKMPL is mainly into procuring milk, manufacturing, and selling Dairy Products (Milk and Milk Products).

On Monday trade, at around 11:10 AM, Dodla Dairy was trading at Rs520.05 per share higher by 13.15% on Sensex.