Vintage Coffee & Beverages Ltd


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Vintage Coffee & Beverages Ltd Company background

Founded in: 1980
Managing director: Balakrishna Tati
Vintage Foods Industries Limited (Formerly known as Spaceage Products Limited) was incorporated on 25 April 1980. The Company is engaged in hospitality and trading business.The Company is a retail store setup solution based at Hosur ,Tamil Nadu. The main focus is to create costeffective design solutions for the display fixturing needs of the regional retail shops (traditional shops), which will help the display of merchandises in an effective manner, thereby providing the customers an experience that of a branded showroom in malls. The Company have the ability to provide endtoend retail display solutions from Concept to Completion. During the Financial Year 2021, the Company entered into the Share Swap Agreement with the Shareholder of Vintage Coffee Private Limited and Delecto Foods Private Limited on 10 March, 2021. In continuation of the same, Mr. Balakrishna Tati along with Person Acting in Concert i.e. Mr. Tati Padma (PAC 1), Ms. Tati Shurti (PAC 2), Mr. Tati Sai Taeja (PAC 3) Mr. Tati Ventakeshwarlu (PAC 4), Mr. TatiTulsi Dalakshi (PAC 5), M/s Valbe Foods (India) Pvt. Ltd. (PAC 6), M/s ChinCorp Holding Pte. Limited (PAC 7), Mr. Mohit Rathi (PAC 8) and Mr. VishalJethalia (PAC 9) made a Public Announcement in respect of Open Offer for Acquisition of upto 8,12,422 fully paidup Equity Shares of the Company. Pursuant to the Open Offer, Management or Control of the Company is changed. The aforesaid acquirers and person acting in concert will become the Promoters and Promoter Group of the Company. The Board of Directors at their meeting held on Wednesday, 10 March, 2021 have inter alia approved issue of shares, the details of which is as under: 1) Issue and allot, in one or more tranches, up to 4,00,30,518 Equity Shares of Rs.10/ each at a premium of Rs. 10/fully paidup on preferential allotment basis to the Promoters and Non Promoters by virtue of Share Swap Agreement. 2) 73,00,000 Equity Shares of Rs.10/ each at a premium of Rs. 10/each fully paidup on preferential allotment basis to the Non Promoters (Public Category) for cash.Pursuant to the Open Offer and Acquisition of Business of Delecto Foods Private Limited and Vintage Coffee Private Limited, the Board considered that the Main Object Clause of the Company is desired to be changed to reflect the true nature of business. Accordingly the Main Objects were amended to carry the business of food products, beverages etc., on 29 April 2021. Pursuant to the Share Swap Agreement and Change in Object Clause of the Company, the Board of Directors of the Company decided to change the name of the Company as the old name is not in line with the revised objectives of the company. Hence, in order to ensurethat the name of the Company adequately reflects the business being carried on by the Company, Accordingly, the name of the company is changed from Spaceage Products Limited to Vintage Coffee Beverages Limited w.e.f 15 July 2021. However, Vintage Coffee Private Limited and Delecto Foods Private Limited have become the subsidiaries of the Company w.e.f. 12 July 2021.
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