Bikaji Foods International acquires remaining stake in Petunt Food

MUMBAI: Snack maker Bikaji Foods International said on Friday its board has approved the acquisition of the remaining 48.78 per cent equity stake in Petunt Food Processors Private Limited, turning the firm into a wholly owned subsidiary.

The additional investment, valued at about Rs 8 crore, will consolidate Bikaji’s ownership in Petunt Food. The company earlier held a 51.22 per cent stake in the food processor.

Following the transaction, Bikaji acquired 35,98,998 equity shares with a face value of Rs 10 each, representing the balance 48.78 per cent stake, the company said in a regulatory filing.

Petunt Food Processors has an authorised share capital of Rs 8 crore, comprising 80 lakh equity shares with a face value of Rs 10 each. Its paid-up share capital stands at Rs 7.37 crore, divided into 73,78,098 equity shares.

Bikaji said the acquisition aims to consolidate its shareholding and securing full ownership and operational control of Petunt Food, which plays a key role in the company’s operations in southern India.

Petunt Food Processors manufactures and processes a range of food products, including sweets and namkeen, and undertakes packaging, labelling, grading and distribution of food-related items.

The company reported a turnover of Rs 363 crore in FY2023, while its turnover stood at Rs 52.07 crore in FY2025.