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Servotech Renewable Power System Limited — Capital/Financing Update 2023
Jul 27, 2023
62223_rns_2023-07-27_1db3792a-d699-452e-9048-2d8f4b850b1a.pdf
Capital/Financing Update
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27[th] July, 2023
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To,
National Stock Exchange of India Limited Exchange Plaza, NSE Building, Bandra Kurla Complex, Bandra East, Mumbai-400 051
Trading Symbol: SERVOTECH
Sub.: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for Incorporation of a wholly owned Subsidiary of the Company
Dear Sir/Madam,
In accordance with the provisions of Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we would like to inform you that a wholly-owned subsidiary under name and style " Techbec Green Energy Private Limited " vide CIN: U27201DL2023PTC417728 has been incorporated as a wholly-owned subsidiary of Servotech Power Systems Limited on 27[th] July, 2023.
In this connection, the details required under Regulation 30 read with Schedule III, Para A, Clause (7B) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, are given in Annexure-A.
Kindly take the above information on record and oblige.
Thanking You,
FOR SERVOTECH POWER SYSTEMS LIMITED
RAMAN BHATIA Digitally signed by RAMAN BHATIA DN: c=IN, st=Delhi, 2.5.4.20=400095bb5f9cb07819642223b31345eaf26be73724cf831908ac2f70a1f9a6bc, postalCode=110085, street=PLOT NO G-8/31 2ND,3RD FLOOR SECTOR-11 ROHINI BLK G PKT 8 Rohini Sec-11 Rohini Sector-7, pseudonym=ad81318e77de64dca312554bdccbdf35, serialNumber=2712cd863db2482c834a81335afec5aa9058b225d3c1d2f5f29ba5116327a90d, o=Personal, cn=RAMAN BHATIA Date: 2023.07.27 17:29:43 +05'30'
RAMAN BHATIA MANAGING DIRECTOR DIN: 00153827
Servotech Power Systems Limited
CIN : L31200DL2004PLC129379 REGISTERED OFFICE: 806, 8[th] Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085 PLANT AND R&D :76A ,Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028 Tel No : 011-41183117,• Sales: +91 9717691800,• Email : [email protected] , •Website: www.servotech.in
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ANNEXURE-A
Details of Company, as required under Regulation 30 read with Schedule III, Para A, Clause (7B) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015
| Sl. No. | Particulars | Details |
|---|---|---|
| 1. | Name of the Target Company, details in brief such as size, turnover, etc. |
Name: Techbec Green Energy Private Limited (“TGEPL”) is incorporated as wholly-owned subsidiary on 27thJuly, 2023. CIN: U27201DL2023PTC417728 Authorised Share Capital: Rs. 10,00,000 (Rupees Ten Lakhs Only) Paid-up Capital: Rs. 10,00,000 (Rupees Ten Lakhs Only) Size/Turnover: Not Applicable (Incorporated on 27thJuly, 2023 as the Company is yet to commence its operations) |
| 2. | Whether the acquisition would fall within the 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" |
Techbec Green Energy Private Limited is promoted by Servotech Power Systems Limited (the ‘Company’) and being a Wholly Owned Subsidiary, is a related party of the Company. The promoter/promoter group/group companies are not interested in the transaction. |
| 3. | Industry to which the entity being acquired belongs |
Manufacturing and trading of batteries |
| 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) |
1. To carry on the business in India or abroad as manufacturers, assemblers, processors, producers, suppliers, repairers, purchasers, sellers, importers, exporters, makers, fabricators and dealers in all batteries, primary cells and primary batteries and rechargeable batteries, cells containing manganese oxide, mercuric oxide silver oxide or other material, lithium batteries, cells, lead acid batteries, stationary batteries, starting batteries, storage batteries, traction batteries, alkaline batteries, dry batteries, button batteries, solar power batteries, mini batteries, emergency lights, dry cells and other batteries used in or required for industrial, transport, commercialand consumptive purpose, their |
Servotech Power Systems Limited
CIN : L31200DL2004PLC129379 REGISTERED OFFICE: 806, 8[th] Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085 PLANT AND R&D :76A ,Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028 Tel No : 011-41183117,• Sales: +91 9717691800,• Email : [email protected] , •Website: www.servotech.in
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| components, parts, ingredients, substances, systems, consumable accessories or fittings including battery plates, cases, wires, knobs, accessories, distilled water, armature and armature winding, electrical wires and accessories, electrical motors, generators, accumulators, battery chargers, relays, transformers, auto transformers, electrical switches, plugs, sockets, circuit breakers, actuators, connectors, measuring instruments, millimeters and multi testers, electrical connectors and automobile parts including power packs, power supplies; generators, solar panels, chargers and sub-assemblies, components, parts and accessories thereof. 2. To carry on the business as manufacturer, Trader, distributors, indenters, selling and buying agents manufacturers, representatives and dealers of components of EV Chargers used or required for Electric Vehicle. 3. To carry on the business as manufacturer, Trader, Fleet operator, leasing and renting of all spare parts thereof inclusive of any equipment (like motors, controllers, power trains, batteries or any advanced energy storage device like lithium-ion battery, super capacitors, fly wheel, GPS systems and its variants which can store energy in form of Electrical, Chemical and Mechanical from battery, capacitor, fly wheel & its variants |
||
|---|---|---|
| 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. |
Subscription to the Paid-up Share Capital in Cash |
| 8. | Cost of acquisition or the price at which shares are acquired |
Initial subscription amount of Rs. 9,99,900/- (Rupees Nine Lakh Ninety Nine Thousand Nine Hundred only) towards subscribing to 99,990 (Ninety Nine Thousand Nine Hundred Ninety) equity shares at face value of 10/- (Rupees Ten only) each. |
| 9. | Percentage of shareholding/control acquired and/or number of shares acquired |
The Company has an authorised share Capital of Rs.10,00,000 (Rupees Ten Lakh only) comprising of 1,00,000 (One Lakh) Equity Shares of Rs. 10/- (RupeesTenonly) each. |
Servotech Power Systems Limited
CIN : L31200DL2004PLC129379 REGISTERED OFFICE: 806, 8[th] Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085 PLANT AND R&D :76A ,Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028 Tel No : 011-41183117,• Sales: +91 9717691800,• Email : [email protected] , •Website: www.servotech.in
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Servotech Power Systems Limited holds 99.99% shareholding in TGEPL.
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Brief background about the entity acquired in terms of product/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)
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TGEPL has been incorporated on 27[th ] July, 2023 for Manufacturing and trading of batteries
The Registered office of the Company is situated at 810, 8[th] Floor, Crown Heights, Hotel Crown Plaza, Sector 10, Rohini, Delhi -110085 and is yet to commence its business operations.
Thanking You,
FOR SERVOTECH POWER SYSTEMS LIMITED
RAMAN BHATIA Digitally signed by RAMAN BHATIA DN: c=IN, st=Delhi, 2.5.4.20=400095bb5f9cb07819642223b31345eaf26be73724cf831908ac2f70a1f9a6bc, postalCode=110085, street=PLOT NO G-8/31 2ND,3RD FLOOR SECTOR-11 ROHINI BLK G PKT 8 Rohini Sec-11 Rohini Sector-7, pseudonym=ad81318e77de64dca312554bdccbdf35, serialNumber=2712cd863db2482c834a81335afec5aa9058b225d3c1d2f5f29ba5116327a90d, o=Personal, cn=RAMAN BHATIA Date: 2023.07.27 17:31:42 +05'30'
RAMAN BHATIA MANAGING DIRECTOR DIN: 00153827
Servotech Power Systems Limited
CIN : L31200DL2004PLC129379
REGISTERED OFFICE: 806, 8[th] Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085 PLANT AND R&D :76A ,Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028 Tel No : 011-41183117,• Sales: +91 9717691800,• Email : [email protected] , •Website: www.servotech.in