AI assistant
Cyient Limited M&A Activity 2019
60361_rns_2019-07-18_34d25142-4654-4e40-aaf1-1076cc08e499.pdf
M&A Activity
Open in viewerOpens in your device viewer
18 July 2019
The Listing Department The National Stock Exchange of India Ltd. Exchange Plaza, Bandra- Kurla Complex, Bandra (E), Mumbai - 400051 Code: Cyient Code:532175
The Listing Department The BSE Limited PJ Towers.25th Floor, Dalal Street Mumbai-400001
Dear Sir,
Sub:- Announcement of merger under Reg. 30 of SEBI (LODR) Regulations, 2015
This Is to inform that that the board of directors of the company at its meeting held today, has approved the merger of Cyient DLM Private Limited and Cyient Insight Private Limited, Wholly Owned Subsidiaries (WOS) with the company (i.e. Two WOS will be merged into the company).
Following are the details of the transaction, as required under Regulation 30 of SEBI (LODR) Regulations, 2015
| S.No. | Items for Disclosure | Cyient OLM Private Limited | Cyient Insights Private Limited |
|---|---|---|---|
| 1. | Nameoftheentity(ies)formingpartoftheamalgamation/merger,details in brief such as, size,turnover etc.; | Cyient Limited acquired 74% stake inCyient OLM Private Limited ("CyientOLM") in February 2015. Subsequently,Cyient Limited acquired remaining 26%stake from the erstwhile promoters ofCyient OLM in January 2019. With this,CyientOLMbecame whollyownedsubsidiary of Cyient Limited with 100%ownership.Currently,bothareoperating as part of same managementteam and strategy is towards integratingdesign and manufacturing.Turnover for FY 19 -Rs. 4,804 Mn. | Cyient Limited acquired 51% stakein Cyient Insights Private Limited("Cyient Insights") in October 2014.Subsequently,CyientLimitedacquired remaining 49% stake fromthe erstwhile promoters in FY 19.With this, Cyient Insights becamethe wholly owned subsidiary ofCyientLimitedwith100%ownership.Currently,bothareoperatingaspartofsamemanagement team.Turnover for FY 19 -Rs. 118 Mn. |
| 2. | Whetherthetransactionwould fall within related partytransactions? If yes, whetherthe same is done at "arm'slength"; | Yes, This is wholly owned subsidiary, it ison arm's length basis only. | Yes, This is wholly ownedsubsidiary, it is on arm's lengthbasis only. |
| 3. | Areaofbusinessoftheentity(ies); | Electronics Manufacturing Solutions | Analytics Solutions |
Cyientltd.
4 "' Floor, A Wing, 11 So�ware Units Layout, Madhapur Hyderabad - 500 081 India
CIN: L72200TG1991PLC013134 www.cyient.com Company.Secretary®cylent.com T +9140 6764 1000 F +91402311 0352
F orn1edy, lnfoteeh E.nte.-pr,se� limHcrd
| 4. | Rationale foramalgamation/ merger; | Integrate business and get benefits ofsynergy in administration, compliancesand processes. | Integrate business and get benefits ofsynergy in administration, compliancesand processes. |
|---|---|---|---|
| 5 | In case of cashconsideration - amountor otherwise shareexchange ratio. | NA, since this is a wholly ownedsubsidiary | NA, since this is a wholly ownedsubsidiary |
| 6 | Brief details of change inshareholding pattern (ifany) of listed entity. | NA, since this is a wholly ownedsubsidiary, there is no effect on theshare capital of t he Company. | NA, since this is a wholly ownedsubsidiary, there is no effect on theshare capital of the Company. |
This is for your information and records.
Thanking You, For Cyient Limited
tYlc~Jl---- N Ravi Kumar
Dy. Company Secretary
Cyientltd.
4~ Floor, A Wing. 11 Software Units Layout, Madhapur Hyderabad · 500081 India
CIN:L72200TG1991PLC013134 www.cyient.com Company.Secretary®cylent.com T +91 40 6764 1000 F +9140 23110352
•