Elitecon International Appoints Deloitte as Strategic Advisor; Evaluates Merger of Group Companies

New Delhi [India], January 8: Elitecon International Limited (BSE: 539533) has taken a significant strategic step towards strengthening its long-term growth trajectory and enhancing shareholder value by appointing Deloitte Touche Tohmatsu India LLP as its strategic tax and regulatory advisor and transaction program manager. The appointment underscores the Company's focus on adopting best-in-class governance practices, robust compliance frameworks, and transparent execution of strategic initiatives.

Under this mandate, Deloitte will assist Elitecon International in evaluating, structuring, and implementing a proposed scheme of merger, along with managing related regulatory compliances. The engagement of a globally reputed professional services firm reflects the Company's intent to ensure a well-structured, compliant, and value-accretive transaction process.

In parallel, the Board of Directors of Elitecon International Limited is in the process of evaluating a scheme of merger of three group companies—Sunbridge Agro Private Limited, Landsmill Agro Private Limited, and Golden Cryo Private Limited—into the Company. The proposed merger is based on strong business synergies, operational complementarities, and a unified long-term growth vision, and will be subject to requisite statutory, regulatory, and approvals from the Hon'ble National Company Law Tribunal (NCLT).

The envisaged scheme of merger is expected to be a transformational milestone for Elitecon International. It aims to consolidate diversified yet synergistic business verticals, enhance operational scale, improve efficiencies, and optimize resource utilization across the group. Additionally, the proposed transaction is expected to strengthen the Company's balance sheet, improve long-term earnings visibility, and enhance competitiveness and market positioning.

Commenting on the development, the Company stated that the proposed transaction, once implemented, would place Elitecon International on a stronger strategic platform aligned with its long-term vision of expansion, diversification, and responsible growth. The initiative is expected to create sustainable value for shareholders and other stakeholders over the long term.

The Company clarified that the current disclosure is for information purposes only and does not constitute a binding commitment. Further disclosures will be made in accordance with applicable laws and regulations as and when material developments occur.

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