White Organic Agro to expand business in Maharashtra

MUMBAI, 8 June 2020: Considering the highest sales growth for organic vegetables and fruits due to coronavirus pandemic, Mumbai based company working in organic farming space, White Organic Agro Limited (BSE: 513713) has decided to expand its business of organic vegetables and fruits in Maharashtra.

The company in a filing to Bombay Stock Exchange (BSE) said,“The Board of Directors of the Company will be held on Monday 15 June, 2020, inter alia to discuss and give a nod for addition of lease farming pacts with various organic farmers in Otur, Nashik and Pune district of Maharashtra.”

The company said that the management is committed for organic farming including real or perceived advantages in sustainability, openness, self-sufficiency, independence, health, food security and food safety.  

“Considering that the management believes growing and buying organically grown food, free of harmful chemicals, bursting with more nutrition, taste, and sustainable, sustenance is a direct vote for immediate health and building the immune system of everyone,” the filing added.

White Organic Agro currently manages 4160 acres of farmland serving over 300 domestic and international clients. The company is also associated with over 530 farmers. It cater to each phase of supply chain including seed research, land acquisition, farming and cultivations, distribution, retails including exports.

White Organic Retail issues bonus equity shares

The company’s subsidiary, White Organic Retail (BSE: 542667) has announced the issuance of bonus equity shares to existing equity shareholders.

The company in a filing to the exchange said, “the Board of Directors of the Company at its meeting held on 8 June, 2020 has inter alia considered and approved in the ratio of 1:1 i.e; 1 (One) bonus equity share of INR 10/- (Rupees Ten Only), fully paid up for every 1 (One) existing fully paid-up equity share, held by the shareholders on a record date, subject to statutory and other required approvals.

The company has also made a proposal for migration of equity shares from SME platform of BSE Limited to its main board platform subject to statutory and other required approvals, the filing added.