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Jumbo Bag ltd. Capital/Financing Update 2024

Feb 6, 2024

Capital/Financing Update

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JSE-43/2023-2024

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To

The BSE Ltd, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001.

Dear Sirs,

1.	name of the target entity, details in brief such as size, turnover etc.;	M/s . RUDRAANSH POWERS PRIVATE LIMITED. Equity Capital: Rs.3,10,00,000 Turnover: Since company incorporated on 10- 10-2023.
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”;	Acquisition would not fall with in related party transaction and promoter/promoter group does not have any interest in the entity.
3.	industry to which the entity being acquired belongs;	Solar power generation, transmission and distribution
4.	objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	The Company will be purchasing solar power from the target entity and the electricity law requires acquisition of shares of power producer by solar power purchaser in accordance with level of consumption ofpower.
5.	brief details of any governmental or regulatory	Nogovernment or regulatoryapproval required

	approvals required for the acquisition;	for the acquisition.
6.	indicative time period for completion of the acquisition;	15 days
7.	nature of consideration - whether cash consideration or share swap and details of the same;	Cash Consideration
8.	cost of acquisition or the price at which the shares are acquired;	At a face value i.e. Rs. 10/- each
9.	percentage of shareholding / control acquired and/or number of shares acquired;	6.3% shareholding consisting of 6300 equity shares of Rs.10 each.
10.	brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	The target company is mainly into the business of Solar power generation, transmission and distribution and is incorporated in 10/10/2023. The Turnover of the Company: Since the company incorporated on 10-10-2023 the turnover details is yet to be arrived. The Company has acquired shares as per the regulatory requirement for Solar power purchase from target company.