Vintage Coffee & Beverages Ltd

Vintage Foods & Industries Limited, formerly known as Spaceage Products Limited was incorporated on 25 April 1980. The Company changed the name from Spaceage Products Limited to Vintage Coffee & Beverages Limited w.e.f 15 July 2021. Company is engaged in the business of instant trading and exporting of coffee and beverages related products. The Company is a retail store setup solution based at Hosur ,Tamil Nadu. The Instant Coffee plant was commissioned in a record 12-month time. The factory commissioned in a record 14 months with latest technology in manufacture of Instant Coffee with a capacity to produce 7200MTs of Spray dried and Agglomerated Instant Coffee. During the Financial Year 2021, the Company entered into the Share Swap Agreement with the Shareholder of Vintage Coffee Private Limited and Delecto Foods Private Limited on 10 March, 2021. In continuation of the same, Mr. Balakrishna Tati along with Person Acting in Concert i.e. Mr. Tati Padma (PAC 1), Ms. Tati Shurti (PAC 2), Mr. Tati Sai Taeja (PAC 3) Mr. Tati Ventakeshwarlu (PAC 4), Mr. TatiTulsi Dalakshi (PAC 5), M/s Valbe Foods (India) Pvt. Ltd. (PAC 6), M/s ChinCorp Holding Pte. Limited (PAC 7), Mr. Mohit Rathi (PAC 8) and Mr. VishalJethalia (PAC 9) made a Public Announcement in respect of Open Offer for Acquisition of upto 8,12,422 fully paid-up Equity Shares of the Company. Pursuant to the Open Offer, Management or Control of the Company is changed. The aforesaid acquirers and person acting in concert will become the Promoters and Promoter Group of the Company. The Board of Directors at their meeting held on Wednesday, 10 March, 2021 have inter alia approved issue of shares, the details of which is as under:- 1) Issue and allot, in one or more tranches, up to 4,00,30,518 Equity Shares of Rs.10/- each at a premium of Rs. 10/-fully paid-up on preferential allotment basis to the Promoters and Non Promoters by virtue of Share Swap Agreement. 2) 73,00,000 Equity Shares of Rs.10/- each at a premium of Rs. 10/-each fully paid-up on preferential allotment basis to the Non Promoters (Public Category) for cash. Pursuant to the Open Offer and Acquisition of Business of Delecto Foods Private Limited and Vintage Coffee Private Limited, the Board considered that the Main Object Clause of the Company is desired to be changed to reflect the true nature of business. Accordingly the Main Objects were amended to carry the business of food products, beverages etc., on 29 April 2021. Vintage Coffee Private Limited and Delecto Foods Private Limited became the subsidiaries of the Company w.e.f. 12 July 2021. As per the Swap Agreement the proposed allottee (Chin Corp Holding Pte Ltd) along with the other acquirers (the present promoters of the Company) namely, Mr. Tati Balakrishna , Ms. Tati Padma, Ms. Tati Shurti, Mr. Tati Sai Taeja, Mr. Tati Ventakeshwarlu, Ms. Tati Tulsi Dalakshi, M/s Valbe Foods (India) Pvt. Ltd., Mr. Mohit Rathi and Mr. Vishal Jethalia did the open offer to the public vide Offer Letter dated 25.05.2021 and completed the process under SEBI (SAST) Regulations, 2011 and they took over the control and management of the Company in 2021.