Grindwell Norton Ltd. — M&A Activity 2022

Jul 29, 2022

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July 29, 2022

National Stock Exchange of India Limited BSE Limited “Exchange Plaza” Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street Bandra (East) Fort Mumbai 400 051 Mumbai 400 001 Symbol: GRINDWELL Scrip Code No. 506076

Dear Sir/Madam,

Sub: Disclosure under Regulation 30 of SEBI (LODR) Regulations 2015

Further to our letter dated July 29, 2022 on outcome of Board Meeting; please find enclosed disclosures under Regulation 30 and other relevant provisions of the SEBI Listing Regulations.

The said informations are also available on the website of the Company, www.grindwellnorton.co.in.

Kindly take the same on record.

Thanking you,

Yours faithfully, For Grindwell Norton Limited

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K. Visweswaran Company Secretary Membership No. A16123

Encl: as above

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Pursuant to Regulation 30 of the SEBI Listing Regulations, read with Schedule III thereto and the SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 (“SEBI Circular”) detailed information are as under:

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Sr. Particular Remark
No.
1 Name of the entity(ies) The details of entities are as under:
forming part of the
amalgamation/merger, PRS Permacel Private Limited (“Transferor Company”)
details in brief such as,
size, turnover etc.; Grindwell Norton Limited (“Transferee Company”)
Particulars As on March 31, 2022 (Rs. in lacs)
Permacel Grindwell
Net Worth 26,63 156,304.17
] Turnover 147,68 200,562.16
Provisional Figs
2 Whether the Wholly Owned Subsidiary
transaction would fall
within related party
transactions? If yes,
whether the same is
done at “arms length”;
3 Area of business of the PRS Permacel Private Limited is an unlisted company engaged in
entity(ies); manufacture of aesthetic decals and other adhesive tapes etc. in
India.
Grindwell Norton Limited is a listed Company engaged in
business of abrasives, refractories, performance plastics.
4 Rationale for Consolidation of business, effective management, unified control
amalgamation/ of operations and economies of operations.
merger;
5 In case of cash N.A.
consideration – amount
or otherwise share
exchange ratio;
6 Brief details of change Its of Merger of 100% Wholly Owned Subsidiary there will be no
in shareholding pattern change in shareholding the Company
(if any)of listed entity.
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