Electricity Wire Company Receives LoI From Hong Kong-Based FII Luminary Crown for 24 per cent Stake at Rs 2 Per Share, Board Meet Scheduled on 26 December

Auri Grow India Ltd has received a Letter of Intent (LoI) from Hong Kong-based Foreign Institutional Investor Luminary Crown Ltd to explore the acquisition of up to a 24 per cent equity stake in the company. The indicative offer price is Rs 2 per equity share, compared with the company’s market price of Rs 0.84 as on 16 December 2025.

The proposed investment is planned through a primary issuance by way of preferential allotment on a fully diluted basis and will be subject to applicable regulatory, statutory and shareholder approvals. Auri Grow has scheduled a meeting of its board of directors on 26 December 2025 to consider and evaluate the non-binding LoI, in line with SEBI LODR Regulations.

Luminary Crown has also indicated interest in strategic business collaboration alongside the investment. This includes participation at the board level through the nomination of one director, with governance rights limited to customary minority investor protections and no change in management control.

As per the LoI, the collaboration may focus on expanding Auri Grow’s rice aggregation, processing and export operations, targeting GCC and select European markets. The objective is to build a scalable, export-oriented agri platform leveraging India’s export capabilities.

The LoI further proposes the development of hydroponics and aeroponics-based farming projects aligned with sustainable and technology-driven agricultural practices. The estimated project cost is around Rs 55 crore, with indicative annual revenue potential of Rs 180–200 crore and expected net margins of about 13 per cent, subject to execution and market conditions.

In addition, Luminary Crown has proposed organic farming operations on Auri Grow’s identified land Bank for a minimum tenure of five years, with commercial terms to be mutually finalised.

Commenting on the development, Pratik Kumar Patel, Director of Auri Grow India Ltd, said the LoI is indicative and non-binding, and no definitive agreements have been executed so far. He added that the proposal reflects growing external confidence in the company’s long-term vision and its transformation into a high-growth agriculture, agri-technology and export-oriented enterprise.

On the financial front, Auri Grow reported strong growth in FY24–25, with sales rising to Rs 175.55 crore from Rs 16.76 crore in FY23–24, reflecting nearly ten-fold growth. Net profit increased to Rs 7.17 crore in FY25, compared with Rs 0.51 crore in the previous year.

Disclaimer: The article is for informational purposes only and not investment advice.