AI assistant
Kolte-Patil Developers Ltd — Capital/Financing Update 2024
Dec 5, 2024
59438_rns_2024-12-05_4eb9c251-ea05-4155-93ae-aed0ddae94ac.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [79 x 76] intentionally omitted <==
To, To, The Assistant Manager, The General Manager, National Stock Exchange of India Limited BSE Limited, Listing Department, ‘Exchange Plaza’, Bandra Corporate Relationship Department, Kurla Complex, 1[st] floor, Phiroze Jeejeebhoy Towers, Bandra (East), Dalal Street, Mumbai – 400051 Mumbai – 400001
Date: 05 December 2024
Sub: Disclosure pursuant to Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
ISIN: Equity: INE094I01018 and Debt: INE094I07049, INE094I07064 and INE094I07072.
Ref: NSE Symbol and Series: KOLTEPATIL and EQ BSE Code and Scrip Code - Equity: 9624 and 532924 BSE Security Code and Security Name – Debt: 1. 974771 and KPDLZC33;
2. 975276 and KPDL221223; 3.976030 and 0KPDL34
Dear Sir/Madam,
Pursuant to Regulation 30, 51 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with corresponding circulars and notifications issued thereunder, we wish to inform you that Kolte-Patil Developers Limited (“the Company”) on 05 December 2024 has entered into an agreement for Sale of 17% Equity Stake held by the Company in Kolte-Patil Planet Kiwale Project Private Limited, an Associate Company. Through this Share Purchase Agreement, Kolte-Patil Planet Real Estate Private Limited (Buyer) is purchasing 17% Equity stake held by the Company in Kolte-Patil Planet Kiwale Project Private Limited.
The details of sale of shares held in Associate Company pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosures Requirement) Regulations, 2015 and SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13 July 2023 is annexed as Annexure A .
This is for your information and record.
Thanking you,
For Kolte-Patil Developers Limited
VINOD Digitally signed by VINOD EKNATH EKNATH PATIL PATIL Date: 2024.12.05 17:49:10 +05'30' Vinod Patil Company Secretary and Compliance Officer Membership No. A13258
Encl: As above
KOLTE-PATIL DEVELOPERS LTD.
CIN : L45200PN1991PLC129428
Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune - 411001, Maharashtra, India. Tel.: + 91 20 6742 9200 / 6742 9201 Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]
==> picture [79 x 76] intentionally omitted <==
Annexure A
| Sr. **No. ** |
Particulars | Details | |
|---|---|---|---|
| 1 | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year; |
The Company holds 17% Equity Stake in Kolte- Patil Planet Kiwale Project Private Limited (“KP Kiwale”), an Associate Company. The amount and percentage of the turnover or revenue or income and net worth contributed by KP Kiwale during the financial year 2023-24 are as under: Amount and Percentage of the turnover or revenue or income NA Amount and percentage of the net worth Rs. 41 Lakhs and Equity Stake 17% KP Kiwale, being associate company is consolidated using net equity method & under net equity method KP Kiwale’s turnover is not consolidated. **The Company's investment in KP Kiwale is considered as contribution to the group's net worth. Company’s Equity stake in KP Kiwale |
|
| 2 | Date on which the agreement for sale has been entered into |
05 December 2024 | |
| 3 | The expected date of completion of sale/disposal; |
06 December 2024 | |
| 4 | Consideration received from such sale/disposal |
Rs. 3.79 Crores | |
| 5 | Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof; |
Kolte-Patil Planet Real Estate Private Limited (“Buyer”) is purchasing 17% Equity Shares held by the Company in Kolte-Patil Planet Kiwale Project Private Limited, an Associate Company. The Buyer is an Associate Company of one of thewholly owned subsidiary ofthe Company. |
KOLTE-PATIL DEVELOPERS LTD.
CIN : L45200PN1991PLC129428
Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune - 411001, Maharashtra, India. Tel.: + 91 20 6742 9200 / 6742 9201 Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]
==> picture [79 x 76] intentionally omitted <==
| 6 | Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length”; |
Since, the Buyer is an Associate Company of one of the wholly owned subsidiary of the Company, it is a related party transaction. The transaction executed at the price arrived as per the Valuation report obtained from Independent Valuer, hence the transaction is at arms’ length. |
|---|---|---|
| 7 | Whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations |
No |
| 8 | Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale. |
Not applicable |
KOLTE-PATIL DEVELOPERS LTD.
CIN : L45200PN1991PLC129428
Pune Regd. Office: 8th Floor, City Bay, CTS NO. 14 (P), 17 Boat Club Road, Pune - 411001, Maharashtra, India. Tel.: + 91 20 6742 9200 / 6742 9201 Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India. Tel.: 080- 4662 4444 / 2224 3135/ 2224 2803 Web.: www.koltepatil.com Email id: [email protected]