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PTC Industries Ltd. — Capital/Financing Update 2024
May 7, 2024
61771_rns_2024-05-07_d81d1ab6-48a9-4382-9223-5e9bee4cf98d.pdf
Capital/Financing Update
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PTC INDUSTRIES LIMITED Advanced Manufacturing & Technology Centre NH 25A, Sarai Shahjadi, Lucknow 227 101 Uttar Pradesh, India
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To, To National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Bandra Kurla Phiroze Jeejeebhoy Towers, Dalal Street, Complex, Bandra (E), Mumbai-400051 Mumbai – 400001
SYMBOL: PTCIL
BSE Code: 539006
Dear Sir/ Madam,
Subject: Intimation under Regulation 30 of Securities & Exchange Board of India (Listing Obligations & Disclosure Requirement) Regulations, 2015- Signing of Agreement for the incorporation of Special Purpose Vehicle (SPV) Company as per Section 8 under the Companies Act of 2013
With reference to our intimation dated February 13, 2024, regarding approval of investment in a Special Purpose Vehicle (SPV) (i e. Section 8 Company under Companies Act, 2013) along with five other members namely Mishra Dhatu Nigam Limited (MIDHANI), Yantra India Limited, Hindustan Aeronautics Limited, Bharat Dynamics Limited and Uttar Pradesh Expressways Industrial Development Authority, we wish to inform you that the Company has signed an agreement on 6th May 2024 to incorporate SPV under Section 8 of the Companies Act of 2013. Further UPEIDA will provide 2 acres of land to the proposed Section 8 Company for the Defence Testing Infrastructure (DTI) at the Lucknow node of the Uttar Pradesh Defence Corridor.
The SPV will be responsible for the development, operation, and management of the proposed Defence Testing Infrastructure (DTI). The upcoming facility is set to welcome industries from both within and outside the state. This state-of-the-art testing lab is poised to play a pivotal role in advancing the defence and aerospace manufacturing ecosystem. Envisioned as a world-class testing lab, this facility is poised to become a cornerstone in the development of the defence and aerospace manufacturing ecosystem. Its significance lies in facilitating research and providing cutting-edge testing capabilities to contribute to the growth and advancement of these crucial industries.
This is for your information and record.
Thanking you
For PTC Industries Limited
PRAGATI GUPTA Digitally signed by PRAGATI GUPTA AGRAWAL AGRAWAL Date: 2024.05.07 15:03:09 +05'30' Pragati Gupta Agrawal Company Secretary and Compliance Officer
Date: May 7, 2024
CIN: L27109UP1963PLC002931 Tel: +91 522 7111017 | Fax: +91 522 7111020 | Email: [email protected] | Website: www.ptcil.com
PTC INDUSTRIES LIMITED Advanced Manufacturing & Technology Centre NH 25A, Sarai Shahjadi, Lucknow 227 101 Uttar Pradesh, India
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Information required pursuant to Regulation 30 of SEBI LOOR read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
| Name of the target entity, details in brief suchas size, turnover etc.; | Company is yet to be registered as Section 8Company as per the provision of the CompaniesAct,2013. |
|---|---|
| Whether the acquisition would fall withinrelated party transaction(s) and whether thepromoter/ promoter group/ Group companieshave any interest in the entity being acquired?If yes, nature of interest and details thereof andwhether the same is done at “arm’s length”; | Not Applicable |
| Industry to which the entity being acquiredbelongs; | Materials and Mechanical Facility. |
| Objects and impact of acquisition (including butnot limited to, disclosure of reasons foracquisition of target entity, if its business isoutside the main line of business of the listedentity); | The main object of incorporation of Companyunder Defence Testing and InfrastructureScheme promulgated by Ministry of Defence is toprovide focused, structured, and significantthrust to indigenous Research, Development andManufacturing in the Defence Sector, withspecial focus on participation of MSMEs andStartups, by providing state of the art testingfacilities. And also provide easy access and meetthe testing needs that will address the qualityand certification requirement of the domesticdefence industry. |
| Brief details of any governmental or regulatoryapprovals required for the acquisition; | Not Applicable |
| Indicative time period for completion of theacquisition; | Not Applicable |
| Consideration - whether cash consideration orshare swap or any other form and details of thesame; | By way of subscribing to 20% of paid-up sharecapital |
| Cost of acquisition and/or the price at which theshares are acquired | Cost of subscribing to 20% of paid-up sharecapital would be approx. Rs. 2.99 Cr. |
| Percentage of shareholding / control acquiredand/or number of shares acquired | 20% |
| Brief background about the entity acquired interms of products/line of business acquired,date of incorporation, history of last 3 yearsturnover, country in which the acquired entityhas presence and any other significantinformation | Not Applicable |
CIN: L27109UP1963PLC002931 Tel: +91 522 7111017 | Fax: +91 522 7111020 | Email: [email protected] | Website: www.ptcil.com