Elitecon approves overseas acquisition and ₹700 cr capital raise

Elitecon International announced a ₹700 crore acquisition of Prime Place Spices Trading LLC, a Dubai-based spice and food trader. This strategic move aims to boost Elitecon's global presence and product range. The acquisition involves cash payment of ₹300 crore and ₹400 crore share swap. Elitecon also plans to raise ₹300 crore through QIP and ₹400 crore via a preferential issue.