Adani Enterprises will soon sell chocolate: Will buy 74% stake in Cococart Ventures, deal may be done for Rs 200 crore

Adani Group’s flagship company Adani Enterprises will buy 74% stake in the joint venture Cococart Ventures Private Limited (CVPL). The company gave this information on Friday (September 27). April Moon Retail Private Limited (AMRPL), a joint venture of Adani Airport Holdings Limited (AAHL), a step-down subsidiary of Adani Enterprises, will buy this stake.

This purchase of Rs 200 crore will be done through share purchase and subscription agreements. For this acquisition, Share Purchase Agreement (SPA), Share Subscription Agreement (SSA) and Joint Venture Agreement (JVA) have been signed on 27 September 2024.

Will buy 36.96% equity stake under share purchase agreement Under the share purchase agreement, April Moon Retail will purchase 14,73,518 shares which is 36.96% equity stake of Cococart Ventures. Under the share subscription agreement, April Moon Retail will subscribe 14,76,471 shares, which is equivalent to 37.04% equity stake of Cococart Ventures. This deal is expected to be completed by October 31.

Cocokart Ventures was started by Karan and Arjun Ahuja in September 2020. This company imports chocolate from abroad and sells it here.

Adani Group’s retail business will expand through purchase Adani Group’s retail business will expand through this purchase. Through this, Adani Enterprises will enter the retail and food and beverage sectors. Cococart Ventures was started by Karan and Arjun Ahuja in September 2020.

Cococart Ventures imports chocolate from abroad and sells it here. This company imports chocolate from abroad and sells it here. It has cafes across the country. Its turnover has increased rapidly. Its turnover was Rs 6.89 crore in FY 2021, which reached Rs 51.61 crore in FY 2022 and then Rs 99.63 crore in FY 2023.