JSA advises Advent International Corporation in its successful delisting of DFM Foods

  • Deal
  • January 18, 2023

JSA advised Advent International Corporation in its offer to delist the equity shares of DFM Foods Limited from BSE Limited and the National Stock Exchange of India Limited. The voluntary delisting was successful through a counter offer made by Advent at INR 467/- per equity share.

This is the first successful delisting in India using the counter offer process which was introduced by SEBI in 2018

DFM Foods Ltd. is in the business of manufacturing, selling and marketing of packaged snack foods and has been a leader in the space for over 25 years. Their products include Corn Rings and Wheat Puffs marketed under the CRAX and NATKHAT brand names, both of which have become extremely popular snacks, especially among children.

Our Transaction Team Comprised of Partner – Vikram Raghani, Partner – Anand Lakra, and, Senior Associate – Ami Shah.