August 14, 2013 Listing Department

National Stock Exchange of India Ltd
5th Floor, Exchange Plaza,
Bandra (East), Bandra-Kurla Complex, Mumbai - 400 051.

Department of Corporate Services-Listing

BSE Limited
Phiroze Jeejeebhoy Towers, 1st Floor, Dalal Street, Mumbai - 400 001.

Sub.: Press release on sale of shares in Digicomp Complete Solutions Limited.

Dear Sir / Madam,
This is to inform you that the Board of Directors of the Company, at its meeting held today, has, inter alia, approved the execution of a share purchase and shareholders agreement with Regenersis Group for the sale of its 52.6% stake held in its subsidiary, Digicomp Complete Solutions Limited. Attached is the press release on the same.
Thanking you
Yours faithfully
For Allied Digital Services Limited

Nitin Shah
Chairman & Managing Director

Mumbai

Allied Digital has entered into a definitive agreement with the UK based Regenersis Group to divest its entire 52.6% stake in its subsidiary, Digicomp Complete Solutions Ltd ('Digicomp'), which is engaged in the business of aftermarket services to global ODMs / OEMs for products in the information, communication and technology sectors. Allied Digital had invested in the company in 2008 as a strategic investor.
Digicomp is India's leading player in the aftermarket services space with a pan India presence across 22 cities and over 100 locations through its network of customer walk-in centres and depot repair centres. The company is engaged in the business of providing L1 to L4 repairs, refurbishment services, onsite support, asset recovery services to do 'take back' / 'buy back' of used IT equipments, meeting service demands of leading brands such as Dell, Asus, Acer, etc and the customers. Digicomp is also accredited to leading global ODMs / OEMs to support the customers, providing in-warranty and out-of-warranty support, RMA services and reverse logistics. Digicomp provides its customers an outstanding technically robust, well entrenched platform and in partnership with the Regenersis group creates a strategic globally focused partnership out of India.
This divestment of stake has been unanimously approved by the Board of Directors of Allied Digital. It is expected that the closing will be achieved after completion of necessary transaction related commitments and customary conditions precedent. As part of the transaction, the Regenersis group will also acquire around 27% stake from other promoter shareholders of Digicomp resulting in an 80% stake purchase on the closing.
The Regenersis group is a global leader inter alia engaged in the business of repairing consumer electronics such as mobile phones, laptops and tablets, set top boxes, televisions and other electronic equipment and offers repair and refurbishment solutions and after market services.
Announcing the transaction, Nitin Shah, Chairman & Managing Director, Allied Digital, said, "The transaction for sale of our investment in one of our most successful subsidiary companies, Digicomp, which is a leading aftermarket services provider for the ICT sectors, is our commitment to continually enhance shareholder value. We have partnered in the growth of a global platform till now and facilitated the growth of this business to the next level through the partnership with Regenersis, a global leader in its business segment".
Suresh KS, Managing Director, Digicomp, said "It has been a great journey with Allied Digital since 2008, who came in at an important juncture to help Digicomp grow its service network and business volumes. We are excited in partnering with Regenersis now who brings in strategic and financial strength on board through repair capabilities in new products such as mobile phones, set top boxes, consumer electronic products, etc along with reach and access to global markets."

BMR Advisors was the exclusive financial advisor lo Allied Digitai and lo Digicomp and BMR Legai was the legai advisor on the transaction.

distributed by