OM Metals Infraprojects To Acquire Remaining Stake In JV
Om Metals Infraprojects Limited has agreed to acquire remaining 50% shareholding in the Company Om Metals- SPML Infraprojects Private limited thereby making it as its wholly owned subsidiary. Detailed information is annexed below:
| 1 | Name of the target entity, details in brief such as size, turnover etc: | Om Metals-Spml Infraprojects Private Limited Paid Up Capital: Rs.100000/-(One Lakhs Rupees Only) |
| 2 | whether the acquisition would fall within related partytransaction (s) and whether the promoter/ Promoter group companies have any interest in the entity being acquired? yes, nature of interest and details thereof and whether the same is done at "arms length"; | The acquisition by the company Does not fall within related party transactions. The promoter/ promoter group of the Company have no interest in the above entity. |
| 3 | Industry to which the entity being acquired belongs; | EPC for complete dam —construction of civil structures and Installation and commissioning of Hydromechanical equipments |
| 4 | objects and effects of acquisition (including but not limited to, the disclosure of reasons for the acquisition of target entity, if its business is outside the main line of business of the company); | To carry on the EPC business ofTurnkey construction contractscomprising of civil structures, Engineering, procurement, manufacture, supply, installation and commissioningcontracts for Hydromechnicalequipments |
| 5 | brief details of any governmental or regulatory approvals required for the acquisition; | Not Applicable |
| 6 | indicative time period for completion of the acquisition | Immediate |
| 7 | nature of consideration — whether cash consideration or share swap and details of the same; | Cash |
| 8 | cost of acquisition or the price at which the shares are acquired | Rs.19000000/- |
| 9 | Percentage of shareholding/control acquired and/or number of shares acquired; | The company is currently holding 50 `)/0 of the shareholding in Om Metals- SPML Infraporjects Private Limited. TheCompany has agreed to acquire remaining 50% of the shareholding of Om Metals- SPML Infraprojects Private Limited, thereby making it wholly owned subsidiary |
| 10 | brief background about the entity acquired In terms of products/line of business acquired, date of incorporation history of last 3 years turnover country in which the acquired entity has a presence and any other significant information (in brief) | The Company has successfullycompleted civil structure andInstallation and commissioning ofHydromechnical equipments for Kalisindh darn in the state of Rajasthan Date of Incorporation : 10111 MAY, 2010 Country of Incorporation : IndiaTotal Revenue of last three years:2015 — Rs. 415855280 /-2016 — Rs. 70967401 /-2017 — Rs. 130757716 /- |
