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Vakrangee Limited — Capital/Financing Update 2024
Jun 4, 2024
59251_rns_2024-06-04_4bce5cc5-2d4a-4ba8-bd91-5aa929b2c977.pdf
Capital/Financing Update
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Vakrangee Limited “Vakrangee Corporate House”, Plot No.93, Road No.16, M.I.D.C. Marol, Andheri (East), Mumbai - 400093. Maharashtra, W: www.vakrangee.in | L:+91 22 6776 5100 CIN: L65990MH1990PLC056669
June 04, 2024
To, To, Corporate Relationship Department Corporate Relationship Department BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange plaza, C-1, Block G, Dalal Street, Fort, Bandra Kurla complex, Mumbai - 400 001 Bandra (E), Mumbai – 400051
Sub: Update on acquisition of 48.5% equity stake in Vortex Engineering Private Limited from Aavishkaar India Investors.
Ref: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR) dated September 8, 2023.
Dear Sir/Madam,
Pursuant to SEBI LODR and in furtherance to Company’s intimation dated September 8, 2023, we inform that the Vakrangee Limited has entered into a Share Purchase Agreement today i.e. June 4, 2024 for acquisition of 48.5% equity share capital of Vortex Engineering Private Limited from the AAVISHKAAR INDIA MICRO VENTURE CAPITAL FUND, AAVISHKAAR INDIA II COMPANY LIMITED and AAVISHKAAR VENTURE MANAGEMENT SERVICES PRIVATE LIMITED Collectively, referred to as “Aavishkaar India Investors” (“Seller”). Earlier the Company had signed Binding term sheet with Aavishkaar India Investors in relation to acquisition of 48.5% stake in Vortex Engineering Private Limited.
Consequent to the acquisition, Vakrangee Limited shareholding in Vortex Engineering Private Limited has increased from 27.3% to 75.8%.
Pursuant to the said acquisition, Vortex Engineering Private Limited shall become a Material Subsidiary Company of Vakrangee Limited.
You are requested to take the same on your records.
Thanking you,
Yours Faithfully,
For Vakrangee Limited
Sachin Tukaram Khandekar Digitally signed by Sachin Tukaram Khandekar DN: c=IN, o=Personal, postalCode=400081, l=Mumbai Suburban, st=Maharashtra, street=Flat No.1003, 5 B Wing, Destiny Paradise CHSL , Mumbai, Maharashtra India- 400081-, title=9332, 2.5.4.20=9b8c16b6d2ea4521ca3fc63913c039dabc80651029f00c28ea4ca75e666ec3c2, serialNumber=d0ee1a6f46e34aa2c42edac2de47e7873c65431b6bfe84a88768657f9458d264, [email protected], cn=Sachin Tukaram Khandekar Date: 2024.06.04 14:22:58 +05'30'
Sachin Khandekar Company Secretary (Mem. No. A50577)