Shree Renuka Sugars Limited entered into a into binding agreement to acquire Anamika Sugar Mills Private Limited for INR 2.4 billion.

Shree Renuka Sugars Limited (NSEI:RENUKA) entered into a into binding agreement to acquire Anamika Sugar Mills Private Limited for INR 2.4 billion on September 23, 2023. Shree Renuka Sugars will acquire 50.05 million shares at INR 47.05 per share. The transaction was approved by the Board of Directors of Shree Renuka Sugars.

Anamika Sugar Mills generated turnover of INR 2.9 billion for the FY22-23. The transaction is expected to complete on or before October 15, 2023. Gautam Khaitan, Manish Jain, Praveen Alok of Khaitan & Co.

acted as legal advisor to Shree Renuka Sugars.