AI assistant
SRF Ltd. — Capital/Financing Update 2024
Jan 16, 2024
61903_rns_2024-01-16_c22ab14a-6f7a-4fd9-95fc-5496a4d37b49.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 16.01.2024
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 13.12.2023 and pursuant to Regulation 30 of the SEBI Listing 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: 2024.01.16 12:45:31 +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 brief such as size, turnover etc |
SRF Altech Limited has been incorporated as a wholly owned subsidiary of the Company. Corporate Identity Number: U27204DL2022PLC395117 Authorized Share Capital: Rs. 10,00,00,00,000/ (Rupees One Thousand Crores only). Paid-up Share Capital: Rs. 425,00,00,000/- (Rupees Four hundred and twenty five Crores only). Size/Turnover: Plant for manufacture of Aluminium foil has been commissioned on 1st January, 2024. |
| b) | whether the acquisition would fall within 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 “arms length”; |
Not Applicable |
| c) | industry to which the entity being acquired belongs; |
The Wholly Owned Subsidiary is engaged in the business of manufacture of Aluminium foil. |
| d) | 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); |
The Wholly Owned Subsidiary is engaged in the business of manufacture of Aluminium foil. |
| e) | brief details of any governmental or regulatory approvals required for the acquisition; |
Not Applicable |
| f) | indicative time period for completion of the acquisition; |
January 16, 2024 |
| g) | nature of consideration - whether cash consideration or share swap and details of the same; |
Pursuant to a Rights Issue made by SRF Altech Ltd., the Company has subscribed to 6,50,00,000 fully paid up equity shares of Rs. 10 eachincash for an aggregate consideration of Rs. |
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 <==
| 65,00,00,000 (Rupees Sixty Five Crores Only). This represents 100% of the issue size. The infusion of funds by way of equity shall be utilized to repay the existing debt of the Wholly Owned Subsidiary without impacting overall projected debt levels for SRF on a consolidated basis. |
||
|---|---|---|
| h) | cost of acquisition or the price at which the shares are acquired; |
Rs. 65,00,00,000 (Rupees Sixty Five Crores Only). |
| i) | percentage of shareholding / control acquired and / or number of shares acquired; |
6,50,00,000 fully paid up equity shares of Rs. 10 each were subscribed by the Company. SRF Altech Ltd. is a wholly owned subsidiary of the Company. |
| j) | brief background about the entity acquired in terms of products/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 |
Line of Business: The Wholly Owned Subsidiary is engaged in the business of manufacture of Aluminum foil. Date of Incorporation: Date of incorporation of wholly 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