9th April, 2024 | ||
Corporate Relationship | The Manager, | Corporate Relationship |
Department, | Listing department, | Department, |
BSE Limited. | National Stock Exchange of | Metropolitan Stock |
25th Floor, P.J. Towers, | India Ltd. | Exchange of India Ltd. |
Dalal Street, | 'Exchange Plaza', C- 1 Block | Building A, Unit 205A, 2nd |
Mumbai-400 001 | G, Bandra Kurla complex, | Floor, Piramal Agastya |
Bandra (East) | Corporate Park, | |
Mumbai - 400051 | L.B.S Road, Kurla West, | |
Mumbai - 400070 | ||
BSE Scrip Code: 534600 | NSE Scrip Code: JTLIND | MSEI Symbol: JTLIND |
Sub:Disclosure pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations").
Dear Sir/Ma'am,
With reference to captioned subject matter, we would like to inform that the Company has acquired 67% Stake in Nabha Steels & Metals, a partnership firm located at Mandi Gobindgarh, Punjab.
The details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI /HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023 are enclosed as Annexure-I.
You are requested to kindly take the above information on record.
Yours Sincerely
For JTL Industries Limited
(erstwhile JTL Infra Limited)
Amrender Kumar Yadav
Company Secretary & Compliance Of icer
M. No. A41946
ANNEXURE-I
The details as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI /HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13,2023 is as under:
Sr. Details of Events that need to be no. provide
- Name of target entity, details in brief such as size, turnover etc.
- 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
- Industry to which the entity being acquiredbelongs
Information about such events
- Name of the Target:
Nabha Steels & Metals ("Target")
- Business of the Target:
Target is, inter alia, engaged in the manufacturing of Steel Products such as coils and long steel products such as billets having a manufacturing capacity of 2,00,000 Tonnes. It has its unit situated at Mandi Gobindgarh, Punjab.
- Turnover for the FY 2023-24: Rs. 225.27 Crores (Provisional)
No
Manufacturing of Steel Products such as coils and billets
- Objects and effects of acquisition This acquisition will increase Company's total
(including but not limited to, | backward integration capacity from 150,000 | |
disclosure of reasons foracquisition of | tonnes of coils to 2,50,000 tonnes of coils and | |
target entity, if its business is outside | 1,00,000 tonnes of long products. | |
the main line of business of the | ||
Company); | ||
e) Brief details of any governmental or | No governmental or regulatory approvals | |
regulatoryapprovals required for the | required for this acquisition. | |
acquisition; | ||
f) | Indicative time period for | Subject to satisfactory completion of all |
completion of theacquisition | condition's precedent, the acquisition | |
process will complete within 1 month. | ||
g) | Nature of consideration - whether | Cash |
cash consideration or share swap and | ||
details of the same | ||
h) | Cost of acquisition or the price at | Rs. 70 crores/- (Rupees Seventy Crores Only) |
which the shares are acquired | for acquisition of 67% stake |
i) Percentage of shareholding / control acquired and / or number of shares acquired
j) Brief | background | about | the entity | a) | Main Line of Business: - | |||
acquired in terms of products/line of | Manufacturing of Steel products such | |||||||
business | acquired, | date | of | as coils and billets | ||||
incorporation, history of last 3 years | b) | Date of Incorporation of the Target: | ||||||
turnover, country in which the | 02nd December, 2020 | |||||||
acquired entity has presence and | c) | Audited turnover of the last three | ||||||
other | significant | information | (in | financial years: | ||||
brief) | FY 2022-Nil | |||||||
FY 2023- | 112.90 Crores | |||||||
FY 2024- | 225.27 Crores(provisional) |
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JTL Industries Ltd. published this content on 09 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 April 2024 03:29:01 UTC.