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Tata Technologies Limited — Capital/Financing Update 2024
Jul 31, 2024
60382_rns_2024-07-31_0b57b8bd-2c51-407d-9591-1c0858673a42.pdf
Capital/Financing Update
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Ref. No.: TTL/COSEC/SE/2024-25/43
July 31, 2024
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001, India Scrip Code: 544028
National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051, India Trading symbol: TATATECH
Dear Sir / Madam,
Subject: Incorporation of Wholly Owned Subsidiary of the Company
Further to our letter no. TTL/COSEC/SE/2024-25/01 dated April 2, 2024, and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that Tata Technologies Limited (‘the Company’) has incorporated a wholly owned subsidiary, ‘ BMW TechWorks India Private Limited ’. The Ministry of Corporate Affairs, Government of India has issued the Certificate of Incorporation on July 31, 2024.
The disclosure as required under Schedule III Part A of the SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 is attached herewith as Annexure A.
This is for the information of the Exchange and the members.
Thanking you.
For Tata Technologies Limited
VIKRANT Digitally signed by VIKRANT CHANDRASHE CHANDRASHEKHAR GANDHE Date: 2024.07.31 19:52:09 +05'30' KHAR GANDHE
Vikrant Gandhe Company Secretary
Encl: as above
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Tata Technologies Limited Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035 CIN L72200PN1994PLC013313 Email: [email protected] Website: www.tatatechnologies.com
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Annexure A
| Annexure A | ||
|---|---|---|
| Sr. No. | Particulars | Details |
| a) | Name of the target entity, details in brief such as size, turnover etc. |
Name: BMW TechWorks India Private Limited (‘BTIPL’) Authorised Share Capital:₹10,00,000 (Rupees Ten Lakh Only) Size/Turnover: Not Applicable as the Company was incorporated on July31,2024 |
| 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 “arm’s length” |
Tata Technologies Limited (‘the Company’/’TTL’) is the promotor of BTIPL, a wholly owned subsidiary. BTIPL is a related party. Upon allotment of shares by BTIPL, TTL would hold 100% share capital in BTIPL. |
| c) | Industry to which the entity being acquired belongs |
Providing software support and maintenance to the clients, Other information technology and computer service activities |
| d) | Objects and impact 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) |
BTIPL will aid BMW Group in engineering premium products, delivering great digital experiences for its customers and propelling its digital transformation journey. The focus will be on delivering automotive software, including software-defined vehicle (SDV) solutions for its premium vehicles and digital transformation solutions for business IT. |
| e) | Brief details of any governmental or regulatory approvals required for the acquisition |
Not Applicable |
| f) |
Indicative time period for completion of the acquisition; |
Not Applicable |
| g) | Consideration - whether cash consideration or share swap or any other form and details of the same |
BTIPL is incorporated with Authorised Share Capital of₹10,00,000 (Rupees Ten Lakh Only). |
| h) | Cost of acquisition and/or the price at which the shares are acquired |
Not Applicable |
| i) | Percentage of shareholding / control acquired and / or number of shares acquired |
BTIPL is incorporated with Authorised Share Capital of₹10,00,000 (Rupees Ten Lakh Only) divided into 1,00,000 (One Lakh) Equity shares of Rs. 10 (Rupees Ten Only) each. The entirepaid-upshare capital will be held byTTL. |
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Tata Technologies Limited Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035 CIN L72200PN1994PLC013313 Email: [email protected] Website: www.tatatechnologies.com
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| Sr. No. | Particulars | Details |
|---|---|---|
| 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 (in brief) |
Terms of products/line of business: BTIPL will aid BMW Group in engineering premium products, delivering great digital experiences for its customers and propelling its digital transformation journey. The focus will be on delivering automotive software, including software-defined vehicle (SDV) solutions for its premium vehicles and digital transformation solutions for business IT. Date of incorporation: July 31, 2024 History of last 3 years turnover: Not Applicable Country: India |
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Tata Technologies Limited
Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035 CIN L72200PN1994PLC013313 Email: [email protected] Website: www.tatatechnologies.com