Lotus Chocolate Company Limited (BSE:523475) agreed to acquire Soubhagya Confectionery Private Limited from Prakash Peraje Pai, Ananth Peraje Pai, Abhijeet Pai, Ashwini Pai, Aditya Paiand, and Aman Pai for INR 180 million on December 29, 2022. ln this connection, Lotus Chocolate's Board has approved the execution of the share purchase agreement. Subject to the approval of the shareholders of Lotus Chocolate and such other regulatory / governmental approvals as may be required, the consummation of the share purchase agreement entered into between Reliance Consumer Products and the Promoters of Lotus Chocolate; and investment Agreement entered into between Lotus Chocolate, Reliance Consumer Products Limited, Abhijeet Pai, Ashwini Paiand P.M.F Estates Private Limited. The completion of the acquisition of 100% of the equity shares of SCPL is expected during the first quarter of Fiscal 2023-24.

Lotus Chocolate Company Limited (BSE:523475) completed the acquisition of Soubhagya Confectionery Private Limited on May 25, 2023.