NHC Foods Ltd said in a BSE filing dated October 4, 2026, that its foreign step-down subsidiary, Conquer Enterprises Limited, has signed a non-binding letter of intent for the proposed acquisition of a 75% equity interest in DNR VENTURES PTE LTD, Singapore. The proposed consideration is USD 5.5 million.

The disclosure places the proposed transaction at the letter-of-intent stage. It does not report a completed acquisition: the letter is expressly non-binding, and the purchase remains subject to due diligence, definitive transaction documents, approvals and required consents.

Conquer Enterprises is the proposed acquiring entity named in the filing. NHC Foods disclosed the development through its ownership relationship with the foreign step-down subsidiary, rather than identifying itself as the direct buyer of the Singapore company’s equity interest.

Conditions attached to the proposed acquisition

The filing lists four requirements that must be addressed before the proposed acquisition can proceed:

  • Satisfactory due diligence.
  • Mutually agreed definitive transaction documents.
  • Applicable corporate approvals.
  • All required regulatory or third-party consents.

These conditions distinguish the signed letter of intent from a final transaction agreement. The non-binding letter of intent sets out a proposed equity interest and consideration, while leaving the transaction dependent on the specified requirements.

For readers tracking the acquisition, the stated USD 5.5 million is the proposed consideration for the 75% equity interest. The disclosure does not describe that amount as a completed payment or say that the equity interest has already been transferred.

BSE disclosure details

NHC Foods submitted the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is identified in the filing by BSE scrip code 517554 and ISIN INE141C01036.

The intimation was signed by Satyam Shirishchandra Joshi, Managing Director of NHC Foods. The supplied filing does not specify a completion date or provide further details on the definitive transaction documents. Its disclosed status remains a conditional acquisition proposal supported by a signed, non-binding letter of intent.