Ahead of IPO, FMCG Company Mitra Announces INR 787 Cr Merger with Tierra Agrotech

Delhi NCR-based FMCG company Mitra has announced a merger with BSE-listed Tierra Agrotech in a transaction valued at INR 787 crore. The merger is expected to create an integrated food and agri-processing company and pave the way for a stock market listing by the end of the 2026 calendar year, subject to regulatory approvals.

The deal brings together Mitra's branded packaged food business and Tierra Agrotech's upstream agricultural capabilities. The combined entity will operate across the full food value chain, including seed development, crop sourcing, processing, manufacturing and sale of branded FMCG and agricultural products.

Mitra, operated by Nishpra Community Solutions Pvt. Ltd., has expanded rapidly across North India since its founding in 2023. Its product portfolio includes flour, pulses, rice, spices, edible oils, millets, oats and instant mixes. The company currently claims to serve more than 40,000 retail outlets through a network of over 500 distributors across 38 cities.

Tierra Agrotech, headquartered in Hyderabad, focuses on agri-infrastructure, crop science and supply chain management. Established in 2012 following the acquisition of Monsanto's cotton business and Xylem, a subsidiary of US-based Pioneer, Tierra has built capabilities in seed development and agricultural research. Its crop portfolio spans multiple cultivation zones, allowing it to serve farmers across different regions and seasons.

The merger is expected to improve efficiency by reducing reliance on third-party suppliers and enabling tighter quality control. The combined business will operate with two divisions agriculture and FMCG designed to work in coordination while addressing distinct market needs.

Mitra founder Abhishek Kaushik will become Promoter and Managing Director of the merged entity. Financial projections indicate consolidated revenues of around INR 400 crore by FY27, supported by scale benefits and operational integration. The shareholding structure will be realigned to balance the interests of existing shareholders of both companies.

Regulatory approvals from SEBI and the National Company Law Tribunal are currently in progress, with operational integration expected to be completed during FY27.