One more listing company is shifted its base from Telangana to Andhra Pradesh. Avanti Feeds Limited has informed to BSE that the proposal of the Company to shift the Registered office from existing Hyderabad to Visakhapatnam. This has been approved by the majority of share holders in a special resolution through Postal Ballot.
Avanti Feeds is the leading manufacturer of Prawn and Fish feeds from India. It has long list of loyal customers in foreign countries like in USA, Europe, Japan, Australia and Middle East. Hereafter, Hyderabad is remains only as corporate office for Avanti Feeds. The company altered the provisions of Memorandum of Association with respect of change of Registered Office.
Vizag will become fastest growing city that attracts the companies of different sectors. By shifting Avanti to AP, Telangana lost the revenue for next FY. If Union Government has announced any package to AP many new companies will run to AP to start their operations.
