Sanwaria Agro Oils Ltd is making a preferential allotment of shares to media house BCCL, that picks minority stakes in ad-for-equity deals, for up to Rs 35 crore. Although the company is yet to disclose details as per current marklet price, it would lead to equity dilution of 3.3%, as per VCCircle estimates.
Bhopal-based Sanwaria Agro Oils is into soyabean based edible oil business and sells under brands such as Sulabh, Narmada and Sanwaria. While Sulabh and Sanwaria are economy end brands, Narmada is positioned as a premium product. It commands a market cap of a little
over Rs 1,000 crore.
For the year ending March'09 its consolidated net sales rose over 20% to Rs 1,163 crore with net profit of Rs 38 crore.
Some of the other agri related businesses where BCCL has invested in the past include Bajaj Hindusthan and L T Foods.