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PI Industries Ltd. — Capital/Financing Update 2024
Jun 27, 2024
14931_rns_2024-06-27_25ea559f-7cff-40a0-9aab-c23e0cf853d6.pdf
Capital/Financing Update
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Drafte Intimation
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Date: June 27, 2024
BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebjoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Mumbai Bandra Kurla Complex, Mumbai - 51 Ph: 2272 1233/34 Ph: 26598112/26598113 / 26598114 Fax: 2272 3121/2037/2041/2061/2039 Fax: 26598120 Scrip code: 523642 Scrip code: PIIND Email: [email protected]
Dear Sir/ Madam,
Subject : Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015, this is to inform you that the Company has got incorporated a wholly-owned subsidiary in the name and style of ‘ PI INDUSTRIES MANAGEMENT CONSULTANCIES LLC ’ in the Emirate of Dubai, United Arab Emirates on June 27, 2024.
The details required to be furnished under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular CIR/CFD/CMD/4/2015 dated 9 September 2015 are enclosed as ‘Annexure A’.
Kindly take the above stated information on record.
For PI Industries Limited
SONAL Digitally signed by SONAL RAMANAND RAMANAND TIWARI Date: 2024.06.27 TIWARI 18:04:41 +05'30' Sonal Tiwari Company Secretary
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PI Industries Ltd.
Corporate Off.: Vipul Square, 5th Floor, B-Block, Sushant Lok, Phase I, Gurgaon – 122009, Haryana, India. Tel.: +91-124-679000 aa Regd. Off.: Post Box No.20, Udaisagar Road, Udaipur – 313001, Rajasthan, India. Tel.: +91-294-2491451-5, 6651100, Fax: +91-294-2491946 Email: [email protected], www.piindustries.com, CIN: L24211RJ1946PLC000469
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Drafte Intimation
Annexure-A
| **S. No. ** | Particulars | Details |
|---|---|---|
| 1. | Name of the target entity, details in brief such as size, turnover etc. |
Name:PI Industries Management Consultancies LLC Share Capital:AED 100,000 (UAE Dirhams one hundred thousand) divided in to 100 (hundred) shares of AED 1,000 (UAE Dirhams one thousand) each. Size/ Turnover: Not Applicable, since it is a newly incorporated entity which is yet to commence business operations. |
| 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”. |
PI Industries Management Consultancies LLC being a wholly owned subsidiary is a related party of the Company. Save and except what is mentioned above, the promoters/promoter group/ group companies do not have any interest in PI Industries Management Consultancies LLC. |
| 3. | Industry to which the entity being acquired belongs. |
Management consultancies |
| 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 object is to expand the global footprint of the Company’s Agri business. The business of the new wholly-owned subsidiary is in line with the business of the Company. |
| 5. | Brief details of any governmental or regulatory approvals required for the acquisition. |
Not applicable |
| 6. | Indicative time period for completion of the acquisition. |
Not applicable |
| 7. | Nature of consideration- whether cash consideration or share swap and details of the same. |
100% subscription to the share capital in cash |
| 8. | Cost of acquisition or the price at which the shares are acquired. |
At the par value of AED 1,000 per share |
| 9. | Percentage of shareholding / control acquired and / or number of shares acquired. |
100% shareholding owning 100 shares |
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PI Industries Ltd.
Corporate Off.: Vipul Square, 5th Floor, B-Block, Sushant Lok, Phase I, Gurgaon – 122009, Haryana, India. Tel.: +91-124-679000 aa Regd. Off.: Post Box No.20, Udaisagar Road, Udaipur – 313001, Rajasthan, India. Tel.: +91-294-2491451-5, 6651100, Fax: +91-294-2491946 Email: [email protected], www.piindustries.com, CIN: L24211RJ1946PLC000469
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| **S. No. ** | Particulars | Details |
|---|---|---|
| 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). |
Brief background: PI Industries Management Consultancies LLC would be engaged in holding investment, providing Management consultancies and such other activities incidental to or conducive to the attainment of its main object. Date of incorporation: June 27, 2024 Last 3 years’ turnover:Not Applicable, since it is a newly incorporated entity which is yet to commence business operations. Country of incorporation:Emirate of Dubai, United Arab Emirates |
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PI Industries Ltd.
Corporate Off.: Vipul Square, 5th Floor, B-Block, Sushant Lok, Phase I, Gurgaon – 122009, Haryana, India. Tel.: +91-124-679000 aa Regd. Off.: Post Box No.20, Udaisagar Road, Udaipur – 313001, Rajasthan, India. Tel.: +91-294-2491451-5, 6651100, Fax: +91-294-2491946 Email: [email protected], www.piindustries.com, CIN: L24211RJ1946PLC000469