This is the Mukesh Ambani-led company's second entry into the dairy segment and it will directly compete with Amul and Mother Dairy.
Cooler weather meant that demand for milk products and value-added items like buttermilk and ice-cream did not show the usual rise.
Besides the dairy business, the transaction also involves sale of 100 per cent shareholding in Sunfresh Agro Industries, a step-downsubsidiary of Prabhat, via a share purchase agreement, the company said.
The Rs 1-trillion organised dairy market is dominated by co-operatives in almost every state.
'Make in India' will be central to Mr Modi's visit to Europe and Canada. It is difficult to predict what will happen with the Rafale deal, but if it goes through, it will undoubtedly become the 'Mother' of all 'Make in India' projects,' says Claude Arpi.
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