Popees Baby Care To Acquire 99.31% Stake In PBCPL For ₹511.32 Crore

Mumbai: Popees Baby Care India Limited (formerly Hari Govind International Ltd) announced on Thursday, 8 October 2026, that it will acquire a 99.31% stake in Popees Baby Care Products Limited (PBCPL) for an aggregate consideration of ₹511.32 crore. The acquisition will be executed through a share swap arrangement.

Share Capital Increase

The company's board approved an increase in its authorised share capital from ₹10.25 crore to ₹47 crore. This will involve converting 1,02,50,000 equity shares of ₹10 each to 4,70,00,000 equity shares of ₹10 each, subject to shareholder approval.

Acquisition Details

The acquisition of PBCPL shares will be from existing investors via a share subscription and share purchase agreement. Popees Baby Care India will issue up to 2,60,44,323 fully paid-up equity shares and 98,53,471 fully convertible warrants, both at an issue price of ₹142.44 per share/warrant, on a preferential basis.

Financial Impact

The acquisition is expected to allow PBCIL shareholders to benefit from PBCPL's financial strength, and PBCPL shareholders will gain access to the capital market. The listed company will expand its objects and grow revenue under the same management, consolidating promoter holdings to 69.63% post-swap.

Target Company Profile

PBCPL, incorporated on 8 June 2016, specialises in baby products, garment items, and fashion apparels, including manufacturing, trading, wholesale, and retail. Its turnover for the quarter ended 30 June 2026 was ₹45.81 crore. The common promoters are Shaju Thomas and Linta Purayidathil Jose.

Preferential Issue

The relevant date for the preferential issue is 19 October 2026. The warrants will be converted into equity shares within 18 months of allotment.

EGM and E-Voting

An Extra-ordinary General Meeting (EGM) for the financial year 2026-27 is scheduled for Wednesday, 18 November 2026, at 12:00 P.M. via video conferencing. The board approved remote e-voting and OAVM facilities through National Securities Depository Limited (NSDL) for the EGM. Liya Antony of M/s. Liya & Associates has been appointed as the scrutiniser for the e-voting process.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.