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BASF India Ltd — Capital/Financing Update 2020
Jul 1, 2020
61168_rns_2020-07-01_13b6944e-8b48-4623-8e24-e7bcca022b18.pdf
Capital/Financing Update
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BASF India Limited, Mumbai - 400 051, India
July 1, 2020
The Market Operations Department BSE Limited P.J. Towers, Dalal Street, Mumbai 400 001.
Name of the Company : BASF INDIA LIMITED Security Code No : 500042
Dear Sir/Madam,
Sub: BASF India Limited completes divestiture of Construction Chemicals business to Master Builders Solutions India Private Limited
We refer to our earlier letter dated 11[th] February, 2020 wherein the Board of Directors of the Company had approved divestiture of construction chemicals business of the Company to Master Builders Solutions India Private Limited, subject to the approval of the shareholders of the Company, with closing expected in the second quarter of the financial year 2020-2021.
The shareholders of the Company have approved the said divestiture at their general meeting held through postal ballot on 21[st] April, 2020.
We now wish to inform you that the closing of the transaction has taken place and consequently, the Company’s construction chemicals business stands transferred to Master Builders Solutions India Private Limited with effect from 1[st] July, 2020.
The Company has received an overall consideration of Rs. 595.16 crores (Rupees Five Hundred Ninety-Five Crore and Sixteen Lakhs) towards the said divestiture.
Please treat the above information as intimation under Regulation 30 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Thanking You.
Yours faithfully,
For BASF India Limited
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Pradeep Chandan Director – Legal, General Counsel (South Asia) & Company Secretary
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Pankaj Bahl Manager- Company Secretarial
Cc: The Assistant Manager Listing
The National Stock Exchange of India Ltd. Exchange Plaza, 5[th] floor Plot No.C/1, G Block
Bandra Kurla Complex, Bandra (East), Mumbai – 400 051.
Registered Office BASF India Limited
The Capital, ‘A’ Wing, 1204-C, 12th Floor, Plot No. C-70, ‘G’ Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051, India
Tel +91 22 6278 5600
CIN - L33112MH1943FLC003972