Exclusive | Advent-owned DFM Foods may look to delist from exchanges: Sources

Private equity firm Advent International, the owner and promoter of CNAX brand company-DFM Foods, plans to delist the firm from the exchanges, sources with direct knowledge told Moneycontrol on March 31.

Snacks company DFM Foods stock has been languishing close to the price at which private equity Advent International acquired it in 2019. Advent International acquired a majority stake in DFM Foods at Rs 249.50 a share and owns a 73.70 percent stake.

Advent International did not respond to Moneycontrol’s query on the delisting plan.

Sources said Advent is deliberating on delisting DFM Foods so that it can take "bold, strategic decisions" for an overhaul of the company to improve performance. PE firms may be able to take aggressive decisions better in a private company than a listed entity, a source told Moneycontrol.