HMA Agro Industries Completes Share Purchase Agreement for Laal Agro Food Divestment

HMA Agro Industries has executed a Share Purchase Agreement (SPA) on May 02, 2026 to divest its entire equity stake in wholly owned subsidiary Laal Agro Food Private Limited. The transaction involves the sale of 10,000 equity shares to promoter group buyers Mr. Gulzar Ahmad and Mohammad Kamil Qureshi for a total consideration of ₹1,00,000, determined at ₹10 per equity share based on a valuation report dated April 30, 2026 from a Registered Valuer.

Transaction Details

The divestment follows the Board of Directors' approval granted on April 25, 2026. The sale is expected to be completed by May 30, 2026, subject to the fulfillment of closing conditions outlined in the SPA. Upon completion, Laal Agro Food Private Limited will cease to be a wholly owned subsidiary of the company.

Particulars Details Target Company Laal Agro Food Private Limited SPA Execution Date May 02, 2026 Expected Completion May 30, 2026 Shares Sold 10,000 equity shares Consideration ₹1,00,000 Price Per Share ₹10

Buyer Information

The Board has approved the divestment to the following identified buyers, who are part of the promoter/promoter group and classified as related parties:

Buyer Shares Allocated Mr. Gulzar Ahmad 5,000 shares Mohammad Kamil Qureshi 5,000 shares

Financial Position of Subsidiary

As per audited financial statements as on March 31, 2025, Laal Agro Food Private Limited reported the following:

Particulars Amount (in Million) Percentage Turnover Nil 0% Net worth 11.41 0.14%

The subsidiary is presently not engaged in active business operations and does not meet the criteria of a material subsidiary under Regulation 16(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The transaction is being undertaken on an arm's length basis and qualifies as a related party transaction. It has been approved in accordance with Regulation 23 of the SEBI LODR Regulations. Since Laal Agro Food Private Limited is not a material subsidiary, the provisions of Regulation 24 are not applicable. The transaction does not involve any agreement impacting management or control beyond the transfer of shareholding.

HMA Agro Industries Limited has published newspaper advertisements on April 28, 2026, in compliance with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, announcing the completion of postal ballot notice dispatch and providing detailed remote e-voting information to shareholders.

Newspaper Advertisement Publication

The company published advertisements in two newspapers on Tuesday, April 28, 2026, to inform shareholders about the postal ballot process:

Publication Details: Information English Newspaper: Financial Express (New Delhi Edition) Vernacular Newspaper: Hindustan (Agra Edition) Publication Date: April 28, 2026 Regulatory Compliance: Regulation 47 of SEBI LODR

E-Voting Schedule and Resolutions

The company is seeking shareholder approval on eight resolutions through postal ballot via remote e-voting process. The voting schedule remains as previously announced:

E-Voting Timeline: Details Commencement: 9:00 a.m. IST on April 29, 2026 Conclusion: 5:00 p.m. IST on May 28, 2026 Cut-off Date: April 24, 2026 Notice Dispatch: Completed on April 27, 2026

Resolution Details

Shareholders will vote on the following matters:

Resolution Type: Description Special Resolution: Alteration of Articles of Association Ordinary Resolution: Appointment of Mr. Gulzar Ahmad as Chairperson and Managing Director Ordinary Resolution: Appointment of Mr. Viswambharan Parameswaran as Director and Whole-Time Director Ordinary Resolution: Appointment of Mr. Bhabani Sankar Acharya as Director and Whole-Time Director Special Resolution: Re-appointment of Mr. Gaurav Rajendra Luthra as Independent Director Special Resolution: Shifting of Registered Office from Uttar Pradesh to Delhi NCT

Shareholder Information and Access

The postal ballot notice has been made available across multiple platforms for comprehensive shareholder access. Only members whose names appear in the register of members or list of beneficial owners as of the cut-off date are eligible to vote. The company has appointed CS R.C. Sharma as the Scrutinizer to ensure fair and transparent voting process.

Voting rights will be proportional to shareholders' stake in the paid-up equity share capital as determined on April 24, 2026. The results will be announced on or before May 30, 2026, and displayed on the company website and stock exchange platforms.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.