Bigbloc Construction To Acquire Hilltop Concrete
Bigbloc Construction Limited has signed Memorandum of Understanding (MoU) for the acquisition of Hilltop Concrete Private limited as Wholly Owned Subsidiary of the Company.
|Name of the target entity, details in brief such as size, turnover etc.|
Target Entity: Hilltop Concrete Private Limited
The details as on March 31, 2017, as under AAC Block Plant Production Capacity: Two lakhs cubic meter per annum Turnover: 279.02 lakhs
| 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'; ||No|
|Industry to wl-lich the entity being acquired belongs;||Aerated Autoclave Concrete (AAC) Blocks Business|
|Objects and effects of acquisition (including but not limited to, the disclosure of reasons for the acquisition of the target entity, if its business is outside the main line of business of the listed entity);||Hilltop Concrete private Limited is in the same line of business as that of company and purpose of the acquisition is to enhance production capacity of AAC Blocks and to expand the business of the company in North Gujarat, Madhya Pradesh and Rajasthan.|
|Brief details of any governmental or regulatory approvals required for the acquisition;||NA|
|The indicative time period for completion of the acquisition;||Two Months|
|Nature of consideration - whether cash consideration or share swap and details of the same; ||Cash Consideration|
|Cost of acquisition or the price at which the shares are acquired;||Rupees Twenty Crores Only|
|Percentage of shareholding/control acquired and /or number of shares acquired;||49,93,000 (Forty-nine lakhs ninety-three thousand) equity shares constituting 100 % of the total share capital in Hilltop Concrete Private Limited|
|Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, the country in which the acquired entity has the presence and any other significant information (in brief);|
Hilltop Concrete Private Limited is a private Limited company incorporated under Indian Companies Act, 1956 on May 15, 2012, having its registered office at 2009, J.J. A/C Market, 2nd Floor, Ring Road, Sura 395002 Gujarat India.
Product: Manufacturer of Aerated Autoclave, Concrete (AAC) Blocks
(AAC) Blocks Plant of Hilltop Concrete Private Limited is situated at ;
Survey No: - 378-A, Khata No. 33,
Survey No. 380, Khata No. 71,
Survey No. 373-lP, Khata No. 9 & 141
Village: - Savli, Tal: -Kapadwanj,
Dist: - Kheda, Pin: - 387620, Gujarat - India.
Hilltop Concrete private Limited started commercial operation with effect from Feb 2016.
Last 3 years turnover: (in lakhs)
F.Y 2016-17 - 279.02
F.Y 2015-16 - 15.17
F.Y 2014-15 - --