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Servotech Renewable Power System Limited — Capital/Financing Update 2023
Jul 29, 2023
62223_rns_2023-07-29_2056e5f5-cd67-422e-8b4d-cab083807b2b.pdf
Capital/Financing Update
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29[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 Sale of Shares of the Subsidiary 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 Servotech Power Systems Limited (“the Company”) has entered into a share purchase Agreement on Friday, 28[th ] July 2023 with M/s Tamrag Green Solutions (India) Private Limited to sell and transfer the entire equity shares hold by the Company in Techbec Global Solutions Private Limited (a subsidiary of the Company) on a net consideration of Rs. 63,50,000/- (Rupees Sixty Three Lakh Fifty Thousand only).
Pursuant to the completion and transfer of shares, Techbec Global Solutions Private Limited will ceased to be the subsidiary of the Company.
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: 2023.07.29 15:59:32 +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
ANNEXURE-A
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Details 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. | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during the last financial year i.e. F.Y. 2022-23. |
Amount of Turnover for the F.Y. 2022-23: 454.65 Lacs Percentage of turnover to listed company: 1.63% Net Worth: 10.03 Lacs |
| 2. | Date on which the agreement for sale has been entered into; |
Friday, 28thJuly, 2023 |
| 3. | The expected date of completion of Sale/disposal. |
31stAugust, 2023 |
| 4. | Consideration received from such sale/disposal |
Sum of Rs. 63,50,000 received by the Company |
| 5. | Brief details of buyers and whether any of the buyers belong to the Promoter/ Promoter group/group companies. If yes, details thereof. |
M/s Tamrag Green Solutions (India) Private Limited having its registered office atFlat No. B-01, Swati Apartments, Plot No. 12 Patparganj-110092, New Delhi East Delhi The Buyer does not belongs to any Promoter/Promoter Group/ Group Companies |
| 6. | Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length” |
No, the transaction is not a related party transaction |
| 7. | Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale |
Not Applicable |
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: 2023.07.29 16:00:09 +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