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Mukand Ltd. Capital/Financing Update 2023
60966_rns_2023-12-15_e290a81b-47cc-48a5-bf2e-c120d1d35c35.pdf
Capital/Financing Update
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December 15, 2023
Department of Corporate Services Listing Department Dalal Street, Mumbai — 400001 Bandra-Kurla Complex BSE Scrip Code : 500460 Bandra (E), Mumbai — 400051
BSE Limited, National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, NSE Scrip Name : MUKAND LTD.
ISIN CODE: INE304A01026
Dear Sirs,
Sub. : Update on earlier disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 with respect to incorporation of a subsidiary of the Company
Further to our disclosure dated November 09, 2023, regarding the incorporation of a subsidiary of the Company, this is to update that the Company has incorporated a subsidiary named "Mukand Heavy Engineering Limited" on December 15, 2023 under Corporate Identification Number U28162MH2023PLC415488
The details required under regulation 30 of SEBI Listing Regulations, 2015 read with SEBI Master Circular No. SEBVHO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 as modified by SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are enclosed in Annexure.
Kindly take the above on your record.
Thanking you,
Yours Faithfully, For Mukand Limited RAJENDRA DATTARAM SAWANT Rajendra Sawant Company Secretary
ANNEXURE
| SL | Particulars | Details |
|---|---|---|
| Name of the target entity, details in brief such as size, turnover etc. |
Mukand Heavy Engineering Limited ("MHEL") |
|
| Authorized Equity Share Capital: ¥ 10,00,000 (Rupees Ten Lakhs only) divided into 1,00,000 shares of ¥ 10 each. |
||
| Subscribed and Paid up Equity Share Capital: 10,00,000 (Rupees ten lakhs only) divided into 1,00,000 shares of X 10 each. |
||
| The Company subscribed 99.90% equity shares in MHEL along with its nominees. |
||
| Turnover not applicable as the subsidiary is yet to commence its business. |
||
| would 'Whether acquisition within the fall whether transaction(s) and related party the promoter/promoter companies group group/ |
MHEL is a related party of the Company. The shares of MHEL are subscribed at 'arm's |
|
| have any interest in the entity being acquired? If | length' price i.e. face value. | |
| yes, nature of interest and details thereof and whether the same is done at 'arm's length" |
promoter/promoter The group group/ companies does not have any interest in MHEL. |
|
| which acquired Industry being the entity to belongs |
Industrial Machinery Business | |
| Object and effect of acquisition (including but | MHEL is incorporated to carry out business in |
|
| limited disclosure reasons not of for to, acquisition of target if its business entity, is outside the main line of business of listed entity) |
the field of Industrial Machinery and Gear Box Manufacturing. |
|
| Brief details of any governmental or regulatory approvals required for the acquisition |
Not Applicable | |
| completion of the Indicative time period for acquisition |
MHEL completed Incorporation on of December 15, 2023 |
|
| Nature consideration whether cash of - consideration or share swap and details of the |
The Company has subscribed to 99.90% equity share capital along with its nominees of MHEL |
|
| same Cost of acquisition or the price at which the shares are acquired |
by payment of cash consideration of % 9,99,000. Company nominees The along with has its subscribed to 99,900 equity shares of MHEL at |
| aggregating value I10 face each, of to I |
||
|---|---|---|
| 9,99,000. | ||
| 9. | Percentage of shareholding / control acquired 99,900 | equity shares representing 99.90% of |
| and / or number of shares acquired | MHEL Company been acquired by has the |
|
| along with its nominees. | ||
| 10. Brief background about the entity acquired in MHEL | is incorporated on December 15, 2023 | |
| terms of products/line of business acquired, date | and is yet to commence its business operations. | |
| incorporation, history years of of last 3 |
||
| turnover, country in which the acquired entity | ||
| presence and any other significant has |
||
| information (in brief) |