Tinna Trade Limited (BSE:541741) agreed to acquire 96.96% stake in Fratelli Wines Private Limited for INR 2.4 billion on March 1, 2024. Tinna Trade currently holds 3.04% stake in Fratelli Wines. Fratelli Wines reported turnover of INR 2.1 billion on March 31, 2023.

The board of Tinna Trade approved the transaction. The transaction is subject to approval of shareholders of Tinna Trade. The acquisition is expected to close in the next 2-3 months.