Spright Agro Ltd announced that its board will meet on September 18 to consider a strategic entry into agri-tech businesses, including digital market infrastructure, precision agriculture, farm automation, and unmanned aerial systems (drones).
The company, engaged in contract farming and greenhouse technology, said in a stock exchange filing that the move is aimed at complementing and strengthening its existing agri value-chain operations. The board will also evaluate options such as in-house builds, strategic alliances, technology licensing, or the formation of subsidiaries and special purpose vehicles.
In addition to its agri-tech plans, the board will consider a 10:1 bonus issue, offering shareholders 10 bonus equity shares for every one held, and a 100% dividend on equity share capital for the current financial year.