Isharya, a pioneering force in contemporary jewelry, introduces the eagerly awaited sixth edition of its cherished Modern Maharani collection. Tailored for joyous occasions, the Modern Maharani VI transcends traditional boundaries, offering jeweled companions that promise enduring memories. This collection serves as a tribute to the spirit of celebration, adding a touch of opulence to joyous moments at weddings or welcoming the new year in style.
In this edition, Isharya's signature Polki-cut mirrors take center stage, showcasing abstract geometric designs and unexpected motifs like snakes, turtles, dice, and zips. The collection not only introduces fresh iterations but also revives the age-old Talaf stone-cutting technique, elevating the beauty of Turquoise and Hydro Emerald stones in unexpected ways.
Crafted with meticulous precision, the collection features 18-karat gold plating, hypoallergenic and nickel-free metals, hand-cut Polki mirrors, Talaf stone-cutting, and the exquisite allure of Turquoise and Hydro Emerald stones. Modern Maharani VI's color palette mirrors opulence with shades of gold, deep green, and turquoise, creating a harmonious fusion of timeless elegance and contemporary vibrancy. This release marks a noteworthy presence in the Indian retail jewelry landscape, showcasing Isharya's commitment to preserving heritage through exquisite craftsmanship.
Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.
Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.
Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.”
Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.”
Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.
Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.
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