CREST VENTURES LIMITED — Capital/Financing Update 2020

Jul 3, 2020

Ref: CVL/SE/2020-21 3

rd July, 2020

To,	To,
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, Bandra Kurla Complex,
Dalal Street, Mumbai -	Bandra (East), Mumbai -
400 001.	400 051.
Scrip Code: 511413	Symbol: CREST
ISIN: INE559D01011	Series: EQ

Dear Sir/Madam,

SUB: INTIMATION UNDER REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, please find enclosed herewith disclosure in "Annexure I" for acquisition of approx. 10% stake being 11,55,133 equity shares in CMS IT Services Private Limited .

Kindly take the above information on your records.

Thanking you.

Yours faithfully,

Namita Bapna Company Secretary

Encl: a/a

ANNEXURE I

Sr.No.	Details of Events required to be disclosed	Disclosure
a)	Name of the target entity, details in brief suchas size, turnover etc.;	CMS IT Services Private Limited("CMS IT")is a18thprivatelimitedcompanyincorporatedonSeptember, 2014 under the Companies Act, 2013 andhaving its registered office at 2nd Floor, "61 Radius"Plot No. 61, Road no. 13, MIDC, Andheri (East),Mumbai-400093withantotalturnoverofRs.2,90,50,92,751and a net worthof Rs.77,26,63,812as perlastAudited Financial Statementsfor the year2018-19.
b)	Whethertheacquisitionwouldfallwithinrelated party transaction(s) and whether thepromoter/ promoter group/ group companieshave any interest in the entity being acquired? Ifyes, nature of interest and details thereof andwhether the same is done at "arms length";	No, the acquisition does not fall within Related PartyTransaction.No, the promoter/promoter group/group company doesnot have any interest in the entity being acquiredexcept that Mr. Vijay Choraria, Managing Director andPromoter of Crest Ventures Limited is a Director onthe Board of Directors of CMS IT.
		The said transaction is in the ordinary course ofbusiness and on arm's length basis.
c)	Industry to which the entity being acquiredbelongs;	Information Technology Sector.
d)	Objects and effects of acquisition (including butnotlimitedto,disclosureofreasonsforacquisition of target entity, if its business isoutside the main line of business of the listedentity);	Investment.
e)	Brief details of any governmental or regulatoryapprovals required for the acquisition;	Not Applicable.
f)	Indicative time period for completion of theacquisition;	nd July, 2020 (Investment Date).2
g)	Natureofconsideration-whethercashconsideration or share swap and details of thesame;	Cash consideration by way of fund transfer.
h)	Cost of acquisition or the price at which theshares are acquired;	CrestVenturesLimited("CVL")hasacquired11,55,133 Equity Shares at a total consideration of Rs.6,47,33,653.
i)	Percentageofshareholding/controlacquiredand/ or number of shares acquired;	CVL has acquired approx.10% stake in CMS IT.

j)	Briefbackground about the entity acquired in	Brief background–As one of India's top IT services
	terms of products/line of business acquired, date	firms, CMS IT services has support infrastructure
	ofincorporation,historyoflast3years	spread across 30 branches and 220 direct support
	turnover, country in which the acquired entity	locations in India. CMS IT provides complete solutions
	haspresenceandanyothersignificant	to large corporations across all sectors, including
	information (in brief);	banking, insurance, retail, telecom and manufacturing.
		CMS IT provides new, cost-effective and cutting-edge
		IT infrastructure solutions that are reliable, resilient and
		responsive.
		18th September, 2014.Date of Incorporation–
		Total Turnoverof Last 3 years :
		31st March, 2019 –Rs.2,90,50,92,751
		31st March, 2018 –Rs.4,18,56,20,059
		31st March, 2017 –Rs.3,93,07,43,633