AI assistant
SRF Ltd. — Capital/Financing Update 2023
Dec 13, 2023
61903_rns_2023-12-13_fbf1cf13-ef22-40c2-b971-3f8364fe0010.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [98 x 48] intentionally omitted <==
The Corporate Relationship Department, BSE Limited Ist Floor, New Trading Ring Rotunda Building, P.J. Towers Dalal Street, Mumbai 400 001 Scrip Code- 503806
National Stock Exchange of India Limited “Exchange Plaza” Bandra-Kurla Complex Bandra (E) Mumbai 400 051 Scrip Code-SRF
SRF/SEC/BSE/NSE 13.12.2023
Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) " " – Regulations, 2015 ( SEBI Listing Regulations ) Infusion of Additional Equity Share Capital by SRF Limited (“the Company”) in SRF Altech Limited (“the Wholly Owned Subsidiary”)
In Continuation of our earlier intimation dated 17.03.2022 and pursuant to Regulation 30 of the SEBI Listing by Regulations read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11[th] July, 2023, we wish to inform that the Company has infused additional Equity Share Capital in the Wholly Owned Subsidiary, the details whereof is set out in Annexure A.
This is for your information and record.
Thanking you,
Yours faithfully,
For SRF LIMITED
Rajat Digitally signed by Rajat Lakhanpal Lakhanpal Date: 2023.12.13 14:19:06 +05'30'
Rajat Lakhanpal Sr. VP (Corporate Compliance) & Company Secretary
SRF LIMITED Block-C Sector 45 Gurugram 122 003 Haryana India Tel: +91-124—4354400 Fax: +91-124—4354500 E-mail: [email protected] Website: www.srf.com Regd. Office: Unit No. 236 & 237, 2nd Floor DLF Galleria, Mayur Place Noida Link Road Mayur Vihar Phase 1 Extension Delhi 110091
Corporate identity No. L181010L1970PLC005197
==> picture [98 x 48] intentionally omitted <==
Annexure A
Equity Share Capital Infusion in wholly owned subsidiary of the Company
| S. No. | Particulars | Details |
|---|---|---|
| a) | Name of the target entity, details in briefsuch as size, turnover etc | SRF Altech Limited has been incorporated as awholly owned subsidiary of the Company.CorporateIdentityNumber:U27204DL2022PLC395117Authorized Share Capital: Rs. 10,00,00,00,000/(Rupees One Thousand Crores only).Paid-up Share Capital: Rs. 360,00,00,000/-(Rupees three hundred and Sixty Crores only).Size/Turnover: Company yet to commencebusiness. |
| b) | whether the acquisition would fall withinrelated party transaction(s) and whetherthe promoter/ promoter group/ groupcompanies have any interest in the entitybeing acquired? If yes, nature of interestand details thereof and whether the sameis done at “arms length”; | Not Applicable |
| c) | industry to which the entity being acquiredbelongs; | The Wholly Owned Subsidiary is engaged in thebusiness of manufacture of Aluminum foil. |
| d) | objects and effects of acquisition (includingbut not limited to, disclosure of reasons foracquisition of target entity, if its business isoutside the main line of business of thelisted entity); | The Wholly Owned Subsidiary is engaged in thebusiness of manufacture of Aluminum foil. |
| e) | brief details of any governmental orregulatory approvals required for theacquisition; | Not Applicable |
| f) | indicative time period for completion of theacquisition; | December 13, 2023 |
| g) | nature of consideration - whether cashconsideration or share swap and details ofthe same; | Pursuant to a Rights Issue made by SRF AltechLtd.,theCompanyhadsubscribedto35,50,00,000 fully paid up equity shares of Rs. 10eachincash for an aggregate consideration of Rs.355,00,00,000 (Rupees Three Hundred and FiftyFive Crores Only). This represents 100% of theissue size. |
SRF LIMITED Block-C Sector 45 Gurugram 122 003 Haryana India Tel: +91-124—4354400 Fax: +91-124—4354500 E-mail: [email protected] Website: www.srf.com Regd. Office: Unit No. 236 & 237, 2nd Floor DLF Galleria, Mayur Place Noida Link Road Mayur Vihar Phase 1 Extension Delhi 110091
Corporate identity No. L181010L1970PLC005197
==> picture [98 x 48] intentionally omitted <==
| The infusion of funds by way of equity shall beutilized to repay the existing debt of the WhollyOwned Subsidiary without impacting overallprojected debt levels for SRF on a consolidatedbasis. | ||
|---|---|---|
| h) | cost of acquisition or the price at which theshares are acquired; | Rs. 355,00,00,000 (Rupees Three Hundred andFifty Five Crores Only). |
| i) | percentage of shareholding / controlacquired and / or number of sharesacquired; | 35,50,00,000 fully paid up equity shares of Rs. 10each were subscribed by the Company. SRFAltech Ltd. is a wholly owned subsidiary of theCompany. |
| j) | brief background about the entity acquiredin terms of products/line of businessacquired, date of incorporation, history oflast 3 years turnover, country in which theacquired entity has presence and anyother significant information | Line of Business:The Wholly Owned Subsidiary is engaged in thebusiness of manufacture of Aluminum foil.Date of Incorporation: Date of incorporation ofwholly owned subsidiary is 15thMarch, 2022.**History/turnover:**Not applicable**Country:**India |
SRF LIMITED Block-C Sector 45 Gurugram 122 003 Haryana India Tel: +91-124—4354400 Fax: +91-124—4354500 E-mail: [email protected] Website: www.srf.com Regd. Office: Unit No. 236 & 237, 2nd Floor DLF Galleria, Mayur Place Noida Link Road Mayur Vihar Phase 1 Extension Delhi 110091
Corporate identity No. L181010L1970PLC005197