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MPS Limited — Capital/Financing Update 2024
Nov 5, 2024
62623_rns_2024-11-05_99ef7569-e0b8-401a-b743-e4156cab4004.pdf
Capital/Financing Update
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Ref: MPSL/SE/55/2024-25 Date: 05 November 2024
| National Stock Exchange of India LimitedExchange Plaza, 5th Floor, Plot no. C/1,G Block, Bandra – Kurla Complex, Bandra (East),Mumbai - 400 051, India**Symbol:**MPSLTD**ISIN:**INE943D01017 | BSE LimitedDepartment of Corporate ServicesPhiroze Jeejeebhoy TowersDalal Street, Mumbai- 400001, India**Scrip Code:**532440**ISIN:**INE943D01017 |
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Dear Sirs
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)
Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we are pleased to inform you of the establishment of a new branch office, “MPS Limited (Singapore Branch),” in Singapore. The branch was incorporated on 04 November 2024, under Registration No. T24FC0077L.
The details required to be furnished in compliance with Regulation 30 read with Para A of Part A of Schedule III of SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13 July 2023 is enclosed as “ Annexure-A ”. Additionally, a Press Release on the same is enclosed herewith as “ Annexure-B ”.
This is for your kind information and record.
Thanking you,
Yours Faithfully, For MPS Limited
Digitally signed by RAMAN SAPRA DN: c=IN, o=PERSONAL, title=9408, pseudonym=43dbd303263049bf818a0 RAMAN 76f6d838560, 2.5.4.20=18cf30a1544184712dd62ca16 6b9893ae39be03b72c0f4a44c907cf6e8 f25d25, postalCode=201014, st=Uttar Pradesh, SAPRA serialNumber=15cbe9dded45c032a01894d72a7cb7af4313fb2366016cd2de1 45cfc530838fc, cn=RAMAN SAPRA
Raman Sapra Company Secretary and Compliance Officer
Encl: As Above
Registered Office: RR Towers IV, Super A, 16/17, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai-600032-India, Tel: +91 44 49162222 Email: [email protected] Corporate Identification Number: L22122TN1970PLC005795
Annexure – A
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Details as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13 July 2023
- a. Name of the target entity, details in brief such as size, turnover, etc.;
MPS Limited (Singapore Branch)
Turnover: Not Applicable.
- b. 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”;
The Singapore Branch is an extension of MPS Limited. The Promoter/Promoter Group/Group Companies have an interest as promoters/shareholders.
Any transaction between MPS and its Singapore Branch will be on an arm's length basis.
- c. Industry to which the entity being acquired belongs;
Same as the existing business of MPS Limited viz. Platform, Content, and eLearning.
d. Objects and effects of acquisition (including but not limited to, disclosure of reasons for the acquisition of target entity, if its business is outside the main line of business of the listed entity);
As part of MPS Limited's Vision 2027 strategy, the company is committed to strengthening its presence in the Asia-Pacific (APAC) region. Establishing a branch office in Singapore plays a critical role in enhancing our client service capabilities and driving revenue growth, with the APAC region currently contributing over 25% of our revenue.
Key Reasons for Expansion:
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Strategic Growth in APAC : Following our successful expansion into Australia, New Zealand, and China in 2023 through strategic investments in Liberate Learning and AJE, our new branch in Singapore marks the next phase of our diversification and global presence enhancement. This strategic location allows us to better service our clients and seize emerging opportunities in the APAC market.
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Diversification of eLearning Business : Singapore serves as a regional headquarters for many large corporates, making it an ideal location for MPS to expand its Corporate Learning and Development business. The new branch will enable us to develop and nurture relationships, thereby growing our eLearning business and meeting the needs of a diverse corporate clientele.
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Enhanced Delivery Capabilities : Establishing a presence in Singapore will boost our nearshore delivery capabilities, particularly in project management and customer success fields. Clients seeking to centralize service delivery with vendor partners who have robust customer-facing processes will significantly benefit from our increased ability to provide localized support and expertise.
Registered Office: RR Towers IV, Super A, 16/17, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai-600032-India, Tel: +91 44 49162222 Email: [email protected] Corporate Identification Number: L22122TN1970PLC005795
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The decision to open a branch office in Singapore aligns with MPS Limited's long-term growth objectives and strengthens our market presence in the APAC region. This move will support our vision to expand strategically, enhance our service offerings, and reinforce our commitment to meeting the evolving needs of our clients.
- e. Brief details of any governmental or regulatory approvals required for the acquisition;
Not Applicable
- f. Indicative time period for completion of the acquisition;
Not Applicable
- g. Consideration - whether cash consideration or share swap or any other form and details of the same;
Not Applicable
- h. Cost of acquisition or the price at which the shares are acquired;
Not Applicable
- i. Percentage of shareholding/control acquired and/or number of shares acquired;
Not Applicable
- j. 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 Singapore branch of MPS Limited is aimed at bolstering the comprehensive business across all segments, including content, eLearning, and platform solutions.
Registered Office: RR Towers IV, Super A, 16/17, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai-600032-India, Tel: +91 44 49162222 Email: [email protected] Corporate Identification Number: L22122TN1970PLC005795
Annexure – B
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Press Release
MPS Expands Global Footprint with New Branch in Singapore
Noida, India, November 4, 2024 : MPS Limited proudly announces the opening of a new branch office in Singapore, representing a pivotal step in strengthening service delivery and our expanding client base in the thriving Asia-Pacific (APAC) region. This strategic initiative highlights MPS' dedication to delivering rapid and effective services that align with the increasing demands of our APAC clients.
Rahul Arora, Chairman and CEO of MPS Limited, remarked:
"We are thrilled to establish our new branch in Singapore. While the U.S. continues to be our largest market, the APAC region stands out as our most dynamic growth segment. This expansion allows us to meet the growing needs of our clients with timely, high-quality services, particularly given that many of our key clients have regional headquarters in Singapore.
Positioning our Singapore branch as a center of excellence enables us to assemble a dedicated team of experts focused on optimizing efficiency, enhancing client partnerships, and fostering a collaborative environment. With this increased presence, we aim to drive innovation and improve service delivery speed, contributing significantly to our clients' success.
Aligned with our growth strategy 'Supercharging Gestalt,' the Singapore expansion advances the realization of Vision 2027. It exemplifies our market-centric approach, commitment to our strategic customers, and ambition to expand into new markets while developing new capabilities, setting the stage for achieving even greater milestones."
About MPS Limited
MPS was established as the Indian subsidiary of Macmillan (Holdings) Limited in 1970. MPS leveraged its multi-decade service history as a captive business and built unique capabilities through strategic partner programs. Following a change in ownership and management in 201112, MPS set itself on a growth path by consistently reinvesting in expanding the scale and scope of the business. MPS provides platform, learning, and content solutions and is a global partner to the world's leading enterprises, publishers, learning companies, and content aggregators. MPS is listed on major Indian stock exchanges. Over 3,000 associates power MPS across seven development centers in India, three subsidiaries in Europe, three in Australia, one in China, and an office in the US. MPS has a vision to surpass USD 200 million in revenue by 2027. As part of its vision, MPS intends to be the number one partner of choice to all its clients.
For more information, please contact:
Investor Relations Desk MPS Limited
Email: [email protected] Telephone: +91-120-4599750
Registered Office: RR Towers IV, Super A, 16/17, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai-600032-India, Tel: +91 44 49162222 Email: [email protected] Corporate Identification Number: L22122TN1970PLC005795