HMA Agro Industries has received board approval to sell its entire 100% stake in subsidiary FNS Agro Foods for Rs 5.01 crore. The transaction involves offloading 8.95 lakh shares at Rs 55.92 apiece to promoter-affiliated individuals. FNS Agro Foods currently reports nil turnover and the divestment is expected to be completed by September 30, 2026.
HMA Agro Industries to Divest 100% Stake in FNS Agro Foods for Rs 5.01 Crore
Divestment Consideration: Rs 5.01 Crore
Share Price: Rs 55.92 per share
Reader Takeaway: HMA Agro is streamlining operations by shedding a dormant subsidiary, though the buyer group includes promoter-affiliated individuals.
What just happened
HMA Agro Industries Ltd has announced the total divestment of its 100% stake in FNS Agro Foods Limited. The board approved the sale of 8,95,593 equity shares at a valuation of Rs 55.92 per share. The total deal value stands at approximately Rs 5.01 crore, based on an independent registered valuer's report.
Why this matters
FNS Agro Foods is currently inactive and does not contribute to the parent company's revenue. As of March 31, 2026, the subsidiary recorded a net worth of Rs 4.88 crore with zero turnover. By offloading this entity, HMA Agro is removing a dormant asset from its corporate structure.
The Related Party Element
The divestment is being executed with several buyers identified as promoters or relatives of promoters of HMA Agro Industries. This includes individuals such as Gulzar Ahmad and Mohammad Ashraf Qureshi. The company maintains that the transaction is being conducted on an arm's length basis.
Timeline and Completion
The board approved the divestment on September 8, 2026, with the agreement officially executed on September 9, 2026. The company expects to finalize the transfer of shares and complete the divestment process by September 30, 2026. Once completed, FNS Agro Foods Limited will no longer be classified as a subsidiary of HMA Agro Industries Ltd.