The company is in talks with 2-3 companies in north and south India for a possible acquisition this year.
Said K K Kumar, chairman and managing director, SBFL, "We are in an advanced talks with a north Indian company and 2-3 companies in south India for an acquisition. We are ready to spend upto Rs 200 crore for an acquisition of one or more companies engaged in the production and marketing of value added products."
The company expects to close the deal in the next two months. The money required for acquisition will be partly arranged from internal accruals and bank finance, he said adding that it is in talks with a couple of foreign and Indian banks for arranging funds.
The company, which is currently expanding its footprint, today announced an entry into south Indian market with the launch of three out of 15 products, here. It has launched wheat flour, gram flour and rice.
The company is planning to invest Rs 50 crore for its south India expansion, Kumar said.
He said the company is aiming to achieve a turnover of Rs 2,000 crore during the current financial year, a growth of over 40 per cent compared to last financial year.
Shakti Bhog's products will be available across the country by end of March 2009, he said adding that it would set up wheat atta production units in Bangalore this year.
Kumar said the company will also launch three more types of wheat atta that will help control diabetes, obesity and cholesterol. It also aims to launch health biscuits this year, he added.
