Technocraft Industries (India) Limited - Reply to Clarification Sought

24 Aug 2022 , 12:00 AM

The Exchange had sought clarification from Technocraft Industries (India) Limited with respect to announcement dated 11-Apr-2022 informing about Incorporation of a subsidiary company. On the basis of aforesaid announcement, the Company was required to provide/clarify the following: Acquisition / agreement to acquire1. Percentage of shareholding / control acquired and / or number of shares acquired;2. 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 presence and any other significant information (in brief).3. Whether the acquisition would fall within related party transactions 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;4. Name of the target entity, details in brief such as size, turnover etc;5. Industry to which the entity being acquired belongs;6. Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);7. Brief details of any governmental or regulatory approvals required for the acquisition;8. Indicative time period for completion of the acquisition;9. Cost of acquisition or the price at which the shares are acquired;10. Nature of consideration – whether cash consideration or share swap and details of the same The response of the company is attached.