Dodla Dairy Ltd, a listed dairy firm based in Hyderabad, announced the purchase of Sri Krishna Milks Private Ltd, a Karnataka-based company, for Rs 50 crore on March 19.
According to a stock exchange statement, Sri Krishna Milks was the first private sector dairy enterprise in Karnataka when it opened in March 1989.
According to Dodla Dairy, the purchase was made with the purpose of growing the company’s activities. He also stated that the purchase would not be regarded as a related party transaction.
Dodla Dairy announced in a statement to the stock exchanges that it had signed a business transfer agreement with Sri Krishna Milks for the purchase of the company as a going concern on a slump purchase basis. The payment would be in the form of money.
