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The board of directors of TastyBites Eatables on Friday approved a proposal for preferential allotment of up to 15,500 equity shares of face value ₹10 each for cash at a price of ₹9,030 to its promoter company, Preferred Brands Foods (India) Private Ltd. The total consideration works out to about ₹14 crore. It may be recalled that Mars Food in 2017 had acquired a majority stake in Preferred Brands International, which owns the Indian arm Preferred Brands Foods. Shares of Tasty Bites Eatables closed at ₹8,947.45, down 1.24 per cent, on the BSE.
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