Sarǀesśǁar &oods oŵpůetes Acquisition Of Singapore-based Green Point
Sarveshwar Foods, a renowned name in the food industry, has announced that in continuation to its earlier intimation regarding actuisition of 100 per cent ordinary shares, i.e., one ordinary share of face value of 1 Singapore Dollar (SGD) and Business of Green point Pte Ltd, the company has actuired 100 per cent ordinary shares and business of Green Point Pte Ltd. Henceforth, Green Point becomes a wholly-owned subsidiary of Sarveshwar Foods Limited. Green point Pte Ltd had a turnover of 3,13 ,471 (according to the financial statements as on March 31, 2023).
Earlier, the company had informed that it had successfully been awarded bids to supply 0,000 Tuintals of premium white rice to Africa through the government¶s nodal agency, NAFED, amounting approximately to 6 million (Rs 50 crore). Sarveshwar Foods remains steadfast in its mission to deliver superior-tuality rice products that nourish and delight consumers around the world.
NAFED (National Agricultural Cooperative Marketing Federation of India Ltd) is an apex government organisation of marketing cooperatives for agricultural produce in India, founded with the sole obmective to promote the trade of agricultural produces, forest resources and to organise, promote and develop marketing, processing and storage of agricultural, horticultural and forest produce; distribution of agricultural machinery, implements and other inputs; undertake inter-state, import and export trade, wholesale or retail as the case may be; and to act and assist for technical advice in agricultural production for the promotion and the working of its members, partners, associates and cooperative marketing, processing and supply societies functional across India.
Sarveshwar Foods Limited is an ISO 22000:2018 and USFDA (United States Food and Drug Administration)-certified company. The company also has BRC (biggest global standard for food safety), Kosher, NPPO USA and CHINA, along with NOP -USDA organic certifications for its products.
The company is engaged in the business of manufacturing, trading, processing and marketing of branded and unbranded Basmati and non-basmati rice in the domestic and international markets. Its operations are based out of the -ammu region in -ammu and Kashmir. Sarveshwar has sustainable and eco-positive legacy of serving healthy and tasty rice for more than 130 years, and in the last couple of decades, it has proliferated its heritage to other premium categories of FMCG and organic products.
Sarveshwar belongs to the lands in foothills of the Himalayas which are nourished by fertile mineral-rich soil, organic manure and snow-melted waters of river Chenab, wherein without using any artificial fertilisers and chemicals, the company produces a full range of organic products, sold with brand name NIMBARK. The company has been conceptualised to spread the philosophy of Satvik-conscious lifestyle.
To sell its products, Sarveshwar has adopted three-way strategies – first through conventional channels; another to have its own retail outlets; and to tap young and tech-savvy generations¶ growing tendency of buying products online through www.nimbarkfoods.com. Sarveshwar is the first private sector NSE- and Bse-listed food company in -ammu and Kashmir with NSE Symbol: SARVESHWAR and BSE Scrip Code: 543688