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EPL LIMITED Capital/Financing Update 2022
60801_rns_2022-05-27_e3006cff-cc5d-4a85-862f-f28eb62606d0.pdf
Capital/Financing Update
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27 May 2022
| Corporate Service Department | The Listing Department |
|---|---|
| BSE Limited | National Stock Exchange of India Ltd |
| 25 th Floor, Phiroze Jeejeebhoy Towers, | Exchange Plaza, Plot no. C/1, G Block, |
| Dalal Street, Mumbai 400 001 | Bandra-Kurla Complex, Bandra (E) |
| Mumbai 400 051 | |
| Scrip: Equity 500135. NCDs 960308, 960310 & 960311 Trading Symbol: EPL |
Sub.: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
Reg.: Incorporation of a wholly-owned subsidiary in Brazil.
Dear Sirs,
We refer our letter dated 29 March 2022 relating to disclosure of approval for incorporation of a wholly-owned subsidiary of the Company in Brazil.
This is to further inform you that the Company has incorporated a subsidiary namely EPL Brasil Ltda in Brazil (EPL Brazil).
Setting up the factory in Brazil has already been initiated. The objective of the formation of the subsidiary in Brazil is to set up a greenfield project for the packaging tube business, which will help to leverage the growth opportunities in the attractive and fast-growing market. Having footprint in Brazil will also help the Company to become more agile, customer focused and strengthening our long relationships with marquee customers.
EPL Brazil is a wholly-owned subsidiary of EPL Limited.
Disclosure containing the details pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed herewith.
The above is pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, applicable statutory provisions and for your information.
Thanking You
Yours faithfully For EPL Limited
Suresh Savaliya SVP - Legal & Company Secretary
Encl.: As above
Registered Office P.O. Vasind, Taluka Shahapur, Dist. Thane 421604, Maharashtra Tel: +91 9673333971/9882 CIN: L74950MH1982PLC028947 [email protected]
(Formerly known as Essel Propack Limited) Corporate Office : Top Floor, Times Tower, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai 400 013. India www.eplglobal.com | T: +91 22 2481 9000/9200 | F: +91 22 2496 3137
FPL LIMITED
| a) | Name of the target entity, details inbrief such as size, turnover etc | The Company has incorporated a whollyowned subsidiary namely EPL Brasil Ltda inBrazil wef 25 May 2022 (EPL Brazil). |
|---|---|---|
| Registration No.: CC85-AB 1 A-53B 1-0080 | ||
| 's initial corporate capital is BRLEPL Brazil1000000 (one million reais). | ||
| Size/Turnover: N .A. | ||
| b) | Whether the acquisition would fallwithin related party transaction(s)and whether the promoter/promotergroup/group companies have anyinterest in the entity being acquired?If yes, nature of interest and detai Isthereof and whether the same is doneat "arm's length" | EPL Brazil is promoted by the Company andanewlyincorporatedentity IlimitedISliability company registered and governed asper the laws of Brazil. |
| Being a subsidiary, it would be considered asa related party of the Company. | ||
| The promoter/promoter group does not haveany direct interest in the newly formed entity. | ||
| c) | Industry to which the entity beingacquired belongs. | Packaging Industry. |
| d) | Objects and effects of acquisition(including but not limited to, disclosureof reasons for acquisition of targetentity, if its business is outside the mainline of business of the listed entity). | Same as above |
| e) | Brief details of any governmental orregulatory approvals required for theacquisition. | Not applicable. |
| f) | Indicative time period for completionof the acquisition. | Not applicable. |
| g) | Nature of consideration -whethercash consideration or share swap anddetai Is of the same. | I 00% subscription to the paid-up share capitalin cash. |
| h) | Cost of acquisition or the price atwhich the shares are acquired. | Subscription to the share capital in EPL Brazilinitially would be at face value. |
| i) | Percentage of shareholding/control/ acquiredand I or number of shares acquired. | I 00% stake and interest |
| j) | Brief background about the entityacquired in terms of products/line ofbusiness acquired, date of incorporation,history of last 3 years turnover, countryin which the acquired entity haspresence and any other significantinformation (in brief). | Business:EPLBrazil willcarryonthebusiness of, inter alia, manufacturing, sale,supply of packaging tubes and materials. |
| Dote of incorporation: 25 May 2022 | ||
| History of Turnover: Not Applicable | ||
| Country: Brazil |
