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Bosch Ltd Capital/Financing Update 2022
61019_rns_2022-04-01_fdd393a3-9965-43c7-ac7e-0bfca6234a80.pdf
Capital/Financing Update
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Corporate Relationship Department BSE Limited !51Floor, New Trading Ring Rotunda Building Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai - 400 001 Scrip code:500530
The Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G Bandra-Kurla Complex Bandra (E) Mumbai - 400 051 Scrip code: BOSCHL TD
Bosch Limited Post Box No:3000 Hosur Road, Adugodi Bangalore-560030 Karnataka, India Tel +91 80 6752-4938 www.bosch.in L85110KA1951PLC000761
01.04.2022
Dear Sir/Madam,
Sub: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Press Release
Attention is kindly drawn to Corporate Announcement filed on February 09, 2022, in pursuance of Regulation 30 of the SEBI (LODR) Regulations, 2015, informing the Exchange that the Board of Directors has in its meeting held on the said date accorded its approval for investing in Zeliot Connected Services Private Limited ("Zeliot") up to 14% of its paid-up capital.
Further, details pursuant to the SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 were also furnished inter-alia, indicating the time period for completion of the acquisition by April 2022. For easy reference, we once again append details furnished in pursuance of aforesaid SEBI Circular as Annexure - 'A' to letter dated February 09, 2022.
In pursuance of the aforementioned approval of the Board of Directors of the Company, Bosch Limited has acquired 14% stake in Zeliot. In view of the above, please find copy of press release enclosed as Annexure - 'B'.
Thanking you.
Yours Sincerely, for Bosch Limited,
~r Company Secretary & Compliance Officer
Encl: A/a
Annexure A
Details required in terms of SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015 Investment in Zeliot Connected Services Private Limited
| s. No. |
Particulars | Details | |
|---|---|---|---|
| 1. | Name of the target entity, details in brief such as size, turnover etc.; |
Zeliot Connected Services Private Limited, is a 828 start-up established in 2018 Bangalore based offering connected mobility solutions for vehicle tracking, fleet management, and telematics offerings to enterprises, urban, school, employee transport & logistics sectors. As on March 31, 2021, Zeliot's Net worth amounted to Rs.(13) mn and Operating revenues stood at Rs.21 mn. |
|
| 2. | Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "arms length"; |
This acquisition does not fall within related party transaction. The Promoter/Promoter Group/ Group companies do not have any interest in Zeliot. |
|
| 3. | Industry to which the entity being acquired belongs; |
Zeliot is a 828 start-up offering connected mobility solutions for vehicle tracking, fleet management, and telematics offerings. |
|
| 4. | Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity); |
Bosch has been working extensively in the connected mobility environment and is creating a digital mobility ecosystem that has safety and sustainability at its core. The investment will enhance Bosch Limited's role in the mobility landscape through offerings on digital platforms in the personalized and connected mobility As digitization takes shape in the commercial vehicle industry, Vehicles running on road will be connected with a regulated device and will lead us towards several use cases, where we can leverage Digital enablement for improvement of the use case - cost, efficiency, traffic regulation etc. This Transaction will enable both the organisations improving customer experience with • Integration of micro services platform for transacting digital assets • Zeliot would be hosted on Bosch Mobility Cloud Platform • Partnerships in strategic modules on mobility specific Saas portfolio |
| § BOSCH |
|||
|---|---|---|---|
| 5. | of Brief details any governmental or regulatory approvals required for the acquisition; |
Nil | |
| 6. | Indicative time period for completion of the acquisition; |
On or before April 2022 | |
| 7. | - of Nature consideration whether cash consideration or share swap and details of the same; |
Cash Consideration | |
| 8. | Cost of acquisition or the price which the shares are at acquired; |
The total investment is around mlNR 40. | |
| 9. | Percentage of shareholding / I or control acquired and number of shares acquired; |
Upto 14% of the paid-up capital of Zeliot. | |
| 10. | Brief background about the entity acquired in terms of of products/line business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); |
sectors. | Established in 2018, Zeliot is a Bangalore based B2B start-up offering connected mobility solutions for vehicle tracking, fleet management, and telematics offerings to enterprises, urban, school, employee transport & logistics Turnover (Amount in Rs.) |
| March 31,2021 | 21.0 mn | ||
| March 31,2020 | 37.2 mn | ||
| March 31,2019 | 8.8mn |
Li "-
Press Release
Bosch has acquired 14 percent stake in Zeliot Connected Services Private Limited
- ► Zeliot Connected Services Private limited is a Bangalore based deep tech B2B start-up established in 2018 offering connected mobility solutions for enterprises and automobile OEMs
- ► Zeliot offers solutions based on the Zeliot platform that improves vehicle ownership experience for all stakeholders
- ► Zeliot offers Microservices as APls with a wide customer base offering device agnostic solutions deployed in India
Bengaluru, India - Bosch Limited, a leading provider of technology and services in the mobility ecosystem, has acquired a minority stake of 14 percent in Zeliot Connected Services Private Limited, a Bengaluru·based B2B start-up. This investment will enhance Bosch Limited's role in the mobility landscape through offerings on digital platforms in the personalized and connected mobility.
As the automotive industry undergoes rapid technology transformation, Bosch has been working extensively in the connected mobility environment and is creating a digital mobility ecosystem that has safety and sustainability at its core. Bosch Limited has been consciously foraying into new business models, which is reflected through its recent acquisitions and the launch of Mobility Could Platform and Mobility Marketplace, a platform to transact digital assets.
The combination of Bosch's Mobility Marketplace and Zeliot Micro services platform will create a one-stop-shop for the new age mobility players while improving vehicle ownership experience for all stakeholders. Zeliot will leverage the Saas portfolio of Bosch's mobility platform to augment its digital product lifecycle from development to customer experience. The investment, supplemented with Bosch Mobility Marketplace will additionally enhance Zeliot's ability to offer microservices as AP ls to offering device-agnostic solutions deployed for a wide range of customers in India.
Contact person for press inquiries:
Mr. Uday Philip Phone: +91 9972975291
Bosch Limited Uday Philip Bengaluru • 560030
Hosur Road, Adugodi E-mail [email protected]
Corporate Communications/India Media Relations www.boschindia.com
April 01, 2022 Corp/C/CGR·IN CIN: L85110KA1951PLC000761
[email protected]
About Bosch in India
In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Additionally, Bosch has in India the largest development center outside Germany, for end·to·end engineering and technology solutions. The Bosch Group operates in India through fifteen companies, viz, Bosch Limited, Bosch Chassis Systems India Private Limited, Bosch Rexroth (India) Private Limited, Robert Bosch Engineering and Business Solutions Private Limited, Bosch Automotive Electronics India Private Limited, Bosch Electrical Drives India Private Limited, BSH Home Appliances Private Limited, ETAS Automotive India Private Limited, Robert Bosch Automotive Steering Private Limited, Automobility Services and Solutions Private Limited, Newtech Filter India Private Limited, Mivin Engg. Technologies Private Limited, Robert Bosch India Manufacturing and Technology Private Limited, PreBo Automotive Private Limited and Precision Seals. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 16 manufacturing sites, and seven development and application centers. Bosch Group in India employs over 31,530 associates and generated consolidated revenue of about f.17,354 crores• (2.05 billion euros) in 2020 of which f. 10,942 crores• (1.29 billion euros) from third party. The Bosch Group in India has close to 15,650 research and development associates. In India, Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over f. 8,386 crores (0.99 billion euros) in 2020. Additional information can be accessed at www.bosch.in
The Bosch Group is a leading global supplier of technology and services. It employs roughly 395,000 associates worldwide (as of December 31, 2020). The company generated sales of 71.5 billion euros in 2020. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading lo T provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own lo T cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group's strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (Al) or have been developed or (T)anufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is "Invented for life." The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in some 60 countries. Including sales and service partners, Bosch's global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company's future growth is its innovative strength. At 129 locations across the globe, Bosch employs some 73,000 associates in research and development, of which nearly 34,000 are software engineers.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch· press.com, https://twitter.com/BoschPress
About Zeliot
Zeliot is a new age deep tech company founded in 2018 with the vision of offering lo T platform· based solutions to enterprises and Automotive OEMs. Since 2018, Zeliot has successfully developed the platform and has hosted more than 100,000 devices. The current platform is used by the likes of Royal Enfield, Ashok Leyland, Indian Oil Corporation, Here Maps, and many other marquee customers.
Zeliot is striving hard to create an ecosystem for the partners by allowing more control over what they would want to sell in turn to their customers. This can be achieved by developing modules on the fundamental level of software platform, if we could reimagine how the platform modules like data processing pipelines, Telematics Hub, Microservices are monetized, then the partners will eventually have more control over how and what they want to sell to their customers, who could be either large enterprises or Auto OEMs.
With this vision in place, we are productizing each component of the software platform, we are investing a good amount of time & money to create a data computation package for the lo T device, this package will eventually run on the edge devices and will also us to control a lot of data parameters before sending it the cloud. The combination of platform products and the edge package will bring in a lot more efficiency in the way the loT data especially telematics data is
Bengaluru · 560030
Bosch Limited E-mail [email protected] Hosur Road, Adugodi Phone +91 9972975291
Corporate Communications/India Media Relaltions www.boschindia.com
handled, this will lead to huge amounts of savings for our partners/customers in terms of cloud expenses.
The GTM for Zeliot is by offering the above-detailed solution set as a deep tech product for lo T to all the partners across the globe.
Bengaluru · 560030
Bosch Limited E·mail [email protected] Hosur Road, Adugodi Phone +91 9972975291
Corporate Communications/India Media Relaltions www.boschindia.com