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J.K. CEMENT LTD Capital/Financing Update 2023
62333_rns_2023-01-06_cd4bf875-471e-48b9-8845-f16daac346c2.pdf
Capital/Financing Update
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JK Cement Ltd. CIN: 117229UP1 994P1C01 7199 Registered Otfice
A Kamta Tower, Kanpur-208001, U.P., lndia s +91-512-2371478to 85 €! +91 -512-2399854 A [email protected] (! www.jkcement.com
JKC L/C S / S E I 2023 (Anno uncement) Date:6th January,2023
| The Bombay Stock Exchange Ltd. | National Stock Exchange of India Ltd., |
|---|---|
| Corporate Relationship Department, | Exchange Plaza, Bandra Kurla Complex, |
| Phiroze Jeej eebhoy Towers, | Bandra (E), Mumbai-400051 |
| Dalal Street, Fort, Mumbai-400001 | Scrip Code: JKCEMENT (ISIN.INE |
| Scrip Code:532644 (ISIN.INE 823c01014) | 823G01014) |
| Through BSE Listing Centre | Through: NEAPS |
Sub: timation u of the Board of (Listing Oblieations and Disclosure Requirements) Reeulations 2015 - Acquisition of a step down Subsidiarv. Acro Paints Ltd.
Dear Sirs,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, this is to inform you that JK Paints & Coatings Limited ('JKPCL'), wholly owned subsidiary of the Company, has initially/at first tranche invested an amount of INR 153 Crores (Rupees One Hundred and Fifty Three Crore Only) and completed the acquisition of 600/o equity shares of Acro Paints Ltd. (APL) (CIN: U24ll9DL1989PLC03630S)
Accordingly, APL has become a subsidiary of JKPCL and a step down subsidiary of the Company with immediate effect,
The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/FCD/CMD1412}L1 dated 9tr' September, 2015 are enclosed as "Annexure-At'.
This is for your information and record.
Thanking you,
Yours faithfully, For J.K. Cement Ltd.
$Xa^-4s $*"f q
^v#i, SHAMBH U SINGH by SHAMBHU SINGH Date: 2023.01.06 16:35:51 +05'30'
Shambhu Singh Vice President (Legal) & Company Secretary FCS:5836
Enclo: As above.
- Corporate Office
- O Padam Tower, 19 DDA Community Centre Okhla, Phase - 1, New Dethi - 110020, lndia
- Q +011-49220000
- I [email protected]
- (9 www.jkcement.com
I
Nimbahera, Mangrot, Gotan (Rajasthan) | Muddapur (Karnataka) Jharti (Haryana) | Katni (M.P.) | Atigarh (U.P.) | Batasinor (Gujarat)
Digitally signed
Manufacturing Units at :
JK Cement Ltd. CIN: 117229UP1 994P1C01 7199 Registered Office
A Kamla Tower, Kanpur-208001, U.P., lndia q +91-512-2371478to 85 6 +91-512-2399854 R [email protected] (9 www.jkcement,com
| ANNEXURE - A | |||
|---|---|---|---|
| S.N | Particulars | Details | |
| 1 | Name of the target entity, details inbriefsuch as size, turnover etc. | Name of the Target Co.: Acro Paints Limited("APL") | |
| Authorized Share Capital: < 1,00,00,000/-(Rupees One Crore only) | |||
| Paid up share Capital: { 93,69,600/- (RupeesNinety three lakhs sixfy nine thousand sixhundred only) | |||
| Turnover: Net Revenue t 72.05 Crore (for theended 3l'tfinancial | |||
| 2. | Whether the acquisition would fallwithin related party transaction(s) andwhether the promoter / promotergroup / group companies have anyinterest in the entity being acquired? | The initial acquisition of shares of APL does notfall under related party transactions as per theprovisions of Companies Act, 2013. | |
| If yes, nature of interest and detailsthereof and whether the same is doneatttarmts | The promoter/promoter group of the Companyhave no interest in the said acquisition | ||
| 1J | Industry to which the entity beingacquired belongs | Paint Manufacturer & construction chemicalsmanufacturer with wide range of decorative& water | |
| 4. | Objects and effects of acquisition(including but not limited to,disclosure of reasons for acquisition oftarget entity, if its business is outsidethe main line of business of the listed | This acquisition would give commercialpresence of the Company in the Paint businesssegment | |
| 5 | Brief details of any governmental orregulatory approvals required for the | Not Applicable. | |
| 6 | Indicative time period for completionof the | 1(One) year | |
| 7 | Nature of consideration - whether cashconsideration or share swap anddetails of the same. | Cash Consideration - payment made throughonline banking system. | |
| S/"^^"P |
- I Padam Tower, 19 DDA Community Centre Okhta, Phasb - 1, New Dethi - 1 10020, lndia
- re +011-49220000
- € admin. [email protected]
- (9 www,jkcement.com
CEM ENT BUILD SAFE
Manufacturing Units at :
Nimbahera, Mangrol, Gotan (Rajasthan) | Muddapur (Karnataka) Jharti (Haryana) | Katni (M.P.) | Atigarh (U.P.) | Batasinor (Gujarat)
JK Cement Ltd. CI N: 11 7229U P1 994P1C01 71 99 Registered Office
A Kamla Tower, Kanpur-208001, U.P., lndia rl +91-512-2371478to 85 €r +91-512-2399854 A [email protected] d www,jkcement.com
| 8. | Cost of acquisition or the price atwhich the shares are acquired; | { 153 Crore towards acquisition of 60% equityshareholding subject to closing adjustments. |
|---|---|---|
| 9 | Percentage of shareholding / controlacquired and I or number of sharesacquired; | 60% equity shares acquired by JK Paints andCoatings Ltd. |
| 10 | Brief background about the entityacquired in terms of products / line ofbusiness acquired, dateofincorporation, history of last 3 yearsturnover, country in which theacquired entity has presence and anyother significant information (inbrief); | APL was incorporated on 18th May, 1989 and iscurrently engaged in the business of Paints andconstruction chemicals manufacturing.Turnover (Net Revenue) of last three financialyears:2019-20: < 62.65 Crore2020-21: { 61.98 Crore2021-22: < 72.05 Crore |
Sincerely,
$X"^-*P I Shambhu Singh
Corporate Office
- 9 Padam Tower, 19 DDA Community Centre Okhta, Phase - 1, New Dethi - 1 10020, lndia
- rS +01 1-49220000
- € [email protected]
G9 www,jkcement.com
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