ffee2ecf-c67f-4edd-9c58-76e429f4ebe6.pdf (bseindia.com)
Per this clarification, the MNC promoter Conagra is looking to possibly sell their stake in company. This will be a interesting development to watch out for, might result in re-rating based on the quality of brands they have. The sales performance has been disappointing for the time being.
Latest Update:
Overall not good for non promoter, since there is no favorable exit price. Is the price incorrect? Maybe experts can weigh in on this.
Open offers take time to complete, and think this one might have some twists and turns 
Link - Open Offer Announcement
This entire sale and purchase looks very very quick and strange to meâŚgenerally these things take long time after first news in public but this time it was lightening fast!
Secondly do not understand why only PE was involved and no intereset either came or not taken/entertained from other FMCG firms
The sale valuation looks like throw away proce considering the Sales as well as some brands of Agro tech food
Also not sure about the COnagra brands, its royalty etc. which Agro tech holds
Any idea what Rare enterprise is doing with its big stake?
Overall I am not concerned much about open offer price as its mandatory one and need not be successfulâŚbut the valuation of sale and hence the low open offer price is very strange to me.
Any idea on credentials of buyersâŚdo they have any experience on running and turn around of any business in India or elsewhere?
Just shows froth in valuations in India
Sharing a few articles post the change of management
This looks like an interesting special situation where the Current valuations donât seem to factor in much optimism of mgt change and the possibilities which could arise in an under-utilised franchise
Disclaimer
