The board of directors of LT Foods took note of and approved the proposed investment of up to Rs 140 crore (Indian rupees one hundred forty crores) by India Agri Business Fund II Limited in the share capital of Nature Bio Foods Limited, a wholly owned subsidiary of the Company, in one or more tranches in terms of the definitive agreements signed amongst the parties and subject to fulfilment of certain conditions as set out in the definitive agreements, the exchange announcement stated. The stake acquired by the fund was not disclosed.