Sandhar Technologies Limited — Capital/Financing Update 2020

Oct 9, 2020

Re.f· STL I REG-30 LODR /BSE I NSE I 2020-21 I~

Dated: 09th October, 2020

To, Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400 001

To, Listing Department, National Stock Exchange of India Limited C-1, G-Block, Bandra-Kurla Complex Bandra, (E), Mumbai - 400 051

Sub: Intimatioo nuder Regulation 30 of SE1ll {Listing Obligations and Disclosure Reguircmenl·s) Regulations, 2015

Dear Sir/Madam,

We inform that the Company on 9th October, 2020 divested its entire shareholding in Inda Toolings Private Limited ("ITPL"), a Joint Venture of the Company, in favour of JBM Auto Limited ("JBM") viz., the Joint Venture Partner. Consequent to the above, ITPL has ceased to be the Company's Joint Venture Company.

We further inform that the aforesaid divestment is in pursuance of the parties entering into necessary Share Purchase Agreement dated 09th October, 2020.

Disclosure pursuant to Regulation 30 of the Securities and Exchange Board oflndia (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed.

Thanking you

Sandhar Technologies Limited

Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosm·e Requirements) Regulations, 2015 relating to divestment of the equity shares held by Sandbar Technologies Limited ("the Company") in the joint venture Company viz., lndo Toolings Private Limited ("ITPL")

S.No.	Particulars	Details
1.	The amount and percentage oforortheturnoverrevenueincomeandnetworthcontributedbysuchunitorof thedivisionentitylistedduring the last financial year;	The turnover of the joint venture company viz.,ITPL for the financial year 2019-2020 was Rs.3621.48 Lacs. The proportionate share of profitfrom ITPL in the consolidated financial results ofthe Company for the said financial year was Rs.93.73 Lacs.
2.	Date on which the agreement forsale has been entered into;	The Company has entered into Share Purchase9thAgreementdatedOctober2020forsale/disinvestment of its entire stake i.e 2,00,000fully paid-up equity shares of Rs.l 0/-eachconstituting 50% of the Equity share capital ofITPL in favour of the Joint Venture Partner, viz.,JBM Auto Limited ("JBM"). and redemption of3,32,500 preference shares of Rs. 100/-each heldby the Company.
3.	The expected date of completionof sale/disposal;	The sale/disposal has been completed on 09111October, 2020.
4.	Consideration received fromsuch sale/disposal;	The aggregate consideration received by theof theCompanydivestmentCompany'sforshareholding in ITPL in favour of JBM is Rs.29,30,000/- (Rupees Twenty Nine Lakhs ThirtyThousand Only)
5.	of buyersBrief detailsandwhether any of the buyers belongtothepromoterpromotergroup/group Companies. If yes.details thereof;	The buyer is the Joint Venture Partner of theCompany in ITPL. The buyer does not belong tothe promoter/promoter group/group companies ofthe Company.
6.	Whether the transaction wouldfallwithinrelatedpartytransactions? If yes, whether thesame is done at "arms length";	The transaction will not fall within the meaning ofa 'related party transaction'.
7.	Additionally, in case of a slumpsale,indicativedisclosuresprovidedforamalgamation/merger, shall bedisclosed by the listed entity withrespect to such slump sale.	The transaction is not a slump sale.

Sandhar Technologies Limited