Aurum PropTech to Host ‘India PropTech Summit - 2024’ in Mumbai

Key Takeaways from the Announcement

• The India PropTech Summit will be held on December 2, 2024, in Mumbai, aimed at driving tech-led innovation across Rentals, Distribution, and Capital sectors in real estate.
• Aurum PropTech will showcase its digital advancements, including NestAway, Sell.do, and Aurum WiseX, to enhance consumer and enterprise experiences.
• Analysts and industry leaders from top firms will join Aurum PropTech for a day of insightful discussions, case studies, and networking.

The summit will showcase Aurum PropTech’s innovative approaches, scalable business models, and digital-led solutions aimed at disrupting the Indian real estate sector. Key industry leaders will delve into case studies across these areas, with exclusive insights on the brand’s offerings, including NestAway for rentals, Sell.do for real estate sales automation, and Aurum WiseX for fractional ownership. The event, which requires pre-registration, is expected to foster meaningful dialogue on the future of PropTech in India.

Onkar Shetye, Executive Director of Aurum PropTech, remarked, “The real estate landscape is evolving rapidly, and PropTech solutions are essential in enhancing efficiency and consumer experience. Our brands like NestAway, Sell.do, and Aurum WiseX bring digital-led solutions to both C2C and B2C markets, and the India PropTech Summit provides an excellent platform to discuss the USD 100 billion opportunity that PropTech offers in India.”

About Aurum PropTech Limited

Aurum PropTech Limited (NSE: AURUM; BSE: 539289) is a leading publicly listed company dedicated to transforming India’s real estate landscape through a robust PropTech ecosystem. With major PropTech brands such as NestAway (a C2C rental marketplace), Sell.do (a real estate sales automation tool), and Aurum WiseX (a fractional ownership platform), Aurum PropTech leverages technology to drive growth and innovation across the sector.

About Aurum Ventures

Aurum Ventures is a visionary real estate organisation, keen on digital transformation to unlock efficiency and redefine the real estate experience for consumers and enterprises.

Key Takeaways from the Announcement

• Agro Tech Foods rebrands as Sundrop Brands, enhancing its portfolio through the acquisition of Del Monte Foods India, a joint venture of Bharti Enterprises and DMPL.
• Bharti and DMPL become significant shareholders in Sundrop Brands, which now holds exclusive rights to the Del Monte brand in India.
• Acquisition includes Del Monte’s state-of-the-art facilities in Tamil Nadu and Punjab, supporting Sundrop Brands’ innovation and market expansion.

The acquisition includes an exclusive, perpetual license for the Del Monte brand in India, allowing Sundrop Brands to leverage Del Monte's established presence in processed foods like sauces, ketchups, and olive oils across key markets in India and abroad. Sundrop Brands also gains control of Del Monte’s manufacturing and R&D facilities in Hosur, Tamil Nadu, and Ludhiana, Punjab. 

Commenting on the announcement, Asheesh Kumar Sharma, CEO and Executive Director of Agro Tech Foods Limited, said, “We are thrilled to welcome Del Monte Foods into the Sundrop Brands family. This partnership aligns perfectly with our enhanced vision of bringing joyful food experiences to the modern consumer. Working closely with Nitish Bajaj, we intend to deliver maximum value to all stakeholders through our enhanced mission of creating innovative, delicious and convenient food solutions for the modern consumer.”

Speaking on the announcement, Harjeet Kohli, Joint Managing Director of Bharti Enterprises said, “Bharti is excited to announce the combination of ATFL and Del Monte Foods Private Limited, making Bharti the second largest shareholder in the combined platform. Leveraging significant synergies on the back of a profitable business model, trusted brands and a loyal consumer base, this transaction is set to bolster the scale and margin profile of the platform, potentially accelerating shareholder returns and offering a more diverse portfolio of high quality products to consumers. We look forward to the exciting journey ahead, with all engines fired up for accelerated growth.” 

As part of this development, Sundrop Brands appointed Nitish Bajaj as Group Managing Director, who brings extensive experience in brand management and consumer products. The company’s rebranding reflects its broader mission of delivering convenient and quality-driven food experiences to consumers.

About Agro Tech Foods Limited (Sundrop Brands)

Agro Tech Foods Limited, soon to be Sundrop Brands, is a public company operating under the umbrella with brands like ACT II popcorn and Sundrop edible oils. Sundrop Brands promise consumers innovative, high-quality food solutions by revolutionizing the food industry through novel technologies and diverse product lines .

About Bharti Enterprises

Bharti Enterprises is a leading business group in India, with a presence in telecom, digital infrastructure, financial services, and branded food products. Its flagship company, Bharti Airtel, operates in 17 countries, making it one of the top mobile operators globally.

About Del Monte Foods Private Limited

Specializing in premium quality food products, Del Monte Foods India is a company that is a joint venture between Bharti Enterprises and Del Monte Pacific Limited. The Del Monte Foods India business has set itself the vision of enjoying a wide range of sauces, ketchups, dips, and beverages for delightful culinary experiences in Indian kitchens.

Key Takeaways from the Acquisition

• AT Foods acquires Del Monte India as a consolidation of its portfolio that shall strengthen the offerings in the broad spectrum of processed food and other divisions of its diversified portfolio.
• Del Monte operates in 18 countries, so an acquisition of Del Monte India creates an expanded international footprint of AT Foods.
• The turnover of Del Monte India amounts to Rs. 546.68 crore for FY24 with steady growth of Rs. 448.12 crore in FY22.

The acquisition aligns with AT Foods’ strategic goal of expanding its processed food portfolio across various categories, reinforcing its commitment to building a sustainable, diversified, and profitable business.

Under the agreement, AT Foods will purchase 100% equity share capital of Del Monte. This deal will be paid in the form of issuing equity shares in AT Foods in favor of existing shareholders of Del Monte through preferential allotment rather than cash. Acquisition is awaiting nod from Competition Commission of India and expected to be completed in the next nine months.

Del Monte India, incorporated in 2004, reported revenues of Rs. 546.68 crore for the financial year ending in March 2024, marking consistent growth over the past three years.

About Agro Tech Foods Limited

Agro Tech Foods Ltd is a company engaged in producing and trading edible oils and food products. It handles voluminous food products, which include popcorn, extruded snacks, cereal snacks, chocolate products, and sweet corn among other mass-market and premium edible oils. The company, however, enjoys a strong market in the edible oils and food products market.

Key Takeaways from SJS Enterprises Subscription:

• The company has successfully subscribed to 10,50,000 Class A Equity Shares of Suryaurja One Private Limited (SOPL) as part of its solar power acquisition plan.
• This follows the Share Subscription and Shareholders' Agreement (SSSHA) and Power Supply & Offtake Agreement (PSOA) signed with Sunsource Energy Private Limited (SEPL) and SOPL in August 2024.
• The acquisition is a key step in securing the supply of up to 3MWp of solar power, supporting the company’s renewable energy goals.
• The move is part of SJS Enterprises' ongoing efforts to enhance sustainability and meet its energy needs through renewable sources.

This follows the company's earlier communication in August 2024, where it had informed stakeholders about entering into a Share Subscription and Shareholders' Agreement (SSSHA) and a Power Supply & Offtake Agreement (PSOA) with Sunsource Energy Private Limited (SEPL) and Suryaurja One Private Limited.

The acquisition of these shares is a key step in the arrangement to secure the supply of up to 3MWp of solar power for SJS Enterprises. 

The move is in line with the company’s commitment to enhancing its sustainability efforts and meeting its energy requirements through renewable sources.

About SJS Enterprises Limited:

SJS Enterprises Limited is a leading player in India’s decorative aesthetics industry, specialising in design-to-delivery solutions for the automotive and consumer appliance sectors. Founded in 1987, the company manufactures a wide range of products, including decals, 3D appliques, aluminium badges, and chrome-plated plastic parts. With a strong focus on new product development and quality, SJS serves global giants like Motorola, Whirlpool, and Hewlett Packard. The company operates state-of-the-art facilities in Bengaluru and Pune and has a growing international presence. SJS’s commitment to innovation, quality, and customer relationships has made it a preferred partner for top OEMs worldwide.