Business
DIC India : Acquisition
DIC India :
About this update from Dic India Limited
June 23, 2022 The Corporate Relationship Department The Calcutta Stock Exchange Ltd. BSE Limited, 71 Lyons Range, P.J. Towers, Dalal Street, Kolkata- 700001 Mumbai- 400001 Scrip Code: 10013217 Scrip Code: 500089 National Stock Exchange of India Limited, Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051 Scrip Code: DICIND Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/ Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform your good office that DIC India Limited (the Company) on June 23, 2022 have entered into an agreement with M/s. Solarstream Renewable Services Pvt. Ltd (Target Company) to acquire 5.1% issued and paid-up equity share capital of the Target Company, in our capacity as the captive consumer. The Target Company is engaged in the business of solar power generated and is developing a Solar Power Plant in the State of Uttar Pradesh. In order to meet the electricity requirement for the Company's manufacturing plants located at Noida, Uttar Pradesh in terms of the (Indian) Electricity Act, 2013, we will be procuring power as captive consumer from the Solar Power Plant. In this regard, please find attached details of proposed acquisition as per SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015 as Annexure-A. This is for your information and record. Thanking You, Yours Faithfully, For DIC India Limited (Raghav Shukla) Corp. GM -Legal & Company Secretary M. No F5252 Date: June ___, 2022 Place: Noida DIC INDIA LIMITED Fusion square, 5th Floor, Plot no. 5A & 5B, Sector-126, Noida - 201303 Tel: +91-120-6361414 I Fax: +91-120-6361443 CIN No. L24223WB1947PLC015202 Website: www.dic.co.in I Email id: [email protected] Registered office: Transport Depot Road, Kolkata - 700088 Annexure-A Details as per SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015 Name of the target entity, details in brief Name: Solar Stream Renewable Services such as size, turnover etc.; Private Limited Size: Equity Share Capital of Rs. 1,65,40,000/- . Turnover: The turnover of the entity as on March 31, 2022 is Nil. Whether the acquisition would fall within No. The acquisition would not fall within related party transaction(s) and whether the related party transaction(s) and the promoter/ promoter group/ group companies promoter/ promoter group/ group companies have any interest in the entity being do not have any interest in the entity being acquired? acquired. If yes, nature of interest and details thereof and whether the same is done at "arm's length"; Industry to which the entity being acquired Renewable Energy belongs; Objects and effects of acquisition (including To purchase 1.03 MWac / 1.55 MWp Solar but not limited to, disclosure of reasons for Power generated at the Solar Power Plant to acquisition of target entity, if its business is meet the electricity requirement for the outside the main line of business of the listed Company's manufacturing plants located at entity); Greater Noida, Uttar Pradesh in terms of the (Indian) Electricity Act, 2013. Consequent to the acquisition, the Company shall hold 10.1% equity in the target Company. Brief details of any governmental or No governmental or regulatory approval regulatory approvals required for the required. acquisition; Indicative time period for completion of the July 30, 2022 acquisition; Nature of consideration - whether cash Cash Consideration. consideration or share swap and details of the same; Cost of acquisition or the price at which the At face value i.e. Rs. 10/- aggregating to Rs. shares are acquired; 49,60,000 /- . DIC INDIA LIMITED Fusion square, 5th Floor, Plot no. 5A & 5B, Sector-126, Noida - 201303 Tel: +91-120-6361414 I Fax: +91-120-6361443 CIN No. L24223WB1947PLC015202 Website: www.dic.co.in I Email id: [email protected] Registered office: Transport Depot Road, Kolkata - 700088 Percentage of shareholding / control to be 5.1% shareholding consisting of 4,96,000 acquired and / or number of shares to be equity shares of Rs. 10/- each. acquired; Brief background about the entity acquired in Brief Background: The entity is into the terms of products/line of business acquired, business of Renewable Energy and a Special date of incorporation, history of last 3 years Purpose Vehicle to own and operate a captive turnover, country in which the acquired power plant. entity has presence and any other significant Last 3 year's turnover: information (in brief); FY 2019-20: NIL FY 2020-21: NIL FY 2021-22: NIL Line of business: Renewables Energy Incorporation date: February 02, 2019 Country of Presence: India Other significant information: Entity is a subsidiary of Radiance Renewables Private Limited and is developing a Captive Solar Power Plant in Uttar Pradesh. DIC INDIA LIMITED Fusion square, 5th Floor, Plot no. 5A & 5B, Sector-126, Noida - 201303 Tel: +91-120-6361414 I Fax: +91-120-6361443 CIN No. L24223WB1947PLC015202 Website: www.dic.co.in I Email id: [email protected] Registered office: Transport Depot Road, Kolkata - 700088