India, May 16 -- Sumuka Agro Industries Limited, a publicly listed Indian company, announced today that it has received approval from the Securities and Exchange Board of India (SEBI) for the proposed merger of Gujjubhai Foods into its operations through absorption. Gujjubhai Foods, a privately held company owned by the promoters of Sumuka, is well known for its range of Gujarati namkeens such as khakhra, bhakhri, and other ready-to-eat savoury snacks. The merger is now pending final approval from the National Company Law Tribunal (NCLT).
This strategic merger aims to enhance Sumuka Agro's footprint in the fast-moving consumer goods (FMCG) segment by leveraging the operational efficiencies and market reach of Gujjubhai Foods. Notably, the ...