Tata Consumer to consider fundraising via debt issue. Details here

livemint.com:

exchange filings on Friday at Indian stock market's bourses, Tata Consumer said, "In accordance with Regulation 29(1)(d) of the Listing Regulations, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 19, 2024, to consider, inter-alia, the proposal for fund raising by debt issue in the form of commercial papers/debentures and equity issue through Rights Issue or any other appropriate mode, as may be decided by the Board, subject to requisite approvals." This is the second major corporate announcement made by Tata Consumer Products Ltd on Friday. Earlier, the company had announced the acquisition of Organic India, a ‘better for you’ organic brand spanning Food & Beverages and Nutraceutical categories.

Tata Consumer Products announced on Friday that it has signed definitive agreements to acquire up to 100% of the issued equity share capital of Organic India, one of the strongest ‘better for you’ organic brands spanning Food & Beverages and Herbal & Traditional Supplements. This move is consistent with Tata Consumer’s strategic intent to expand its product portfolio and its target addressable market in fastgrowing/high margin categories.

This acquisition will create a Health & Wellness platform for Tata Consumer Products. The total addressable market for the categories that Organic India is present in is ₹7,000 crores in India and ₹75,000 crores in international markets where Tata Consumer has a strong presence.

This acquisition will provide significant synergy benefits in distribution, logistics, and overheads apart from driving portfolio premiumization and unlocking additional channels and new markets. Structural growth drivers for this portfolio include