Nature of Disclosure: Regulatory filing pursuant to Regulation 30 read with Part A of Schedule III of SEBI Listing Regulations regarding acquisition of partnership interest.
Transaction Details: 20 Microns Limited has acquired 99.99% partnership interest in M/s Shree Shrest Minerals, a partnership firm registered under the Indian Partnership Act, 1932. The acquisition includes the firm's business, assets, and mining rights, specifically the mining lease.
Target Entity: M/s Shree Shrest Minerals, registered office at Laxmi Bazar, Amet, Tehsil Amet, District Rajsamand, Rajasthan - 313332. The firm holds mining rights near Village Khakharmala, Tehsil Raipur, District Bhilwara, Rajasthan - 311803.
Industry Classification: Mining and extraction of industrial minerals, specifically Quartz and Feldspar.
Related Party Status: The acquisition does not constitute a related party transaction under Companies Act, 2013 or SEBI Listing Regulations. The existing partners/transferors are not part of the promoter or promoter group of 20 Microns Limited, and no promoter/promoter group/group companies have any interest in the target firm. The transaction is being undertaken on an arm's length basis.
Strategic Rationale: The acquisition is intended to strengthen and expand the Company's captive and strategic sourcing of industrial minerals and its mining operations. The mining rights for Quartz and Feldspar are aligned with and complementary to 20 Microns' existing business of manufacturing, processing, and trading in industrial minerals and specialty mineral products.
Regulatory Approvals: The Company has received requisite approval from the Registrar of Firms, Rajasthan, for the reconstitution of M/s Shree Shrest Minerals and change in its partners.
Completion Timeline: The acquisition is expected to be completed shortly, subject to execution/completion of necessary documentation and other customary closing formalities.
Consideration: Cash consideration (amount not disclosed).
Ownership Structure: 20 Microns Limited holds 99.99% partnership interest. The acquisition does not involve acquisition of equity shares as the target is a partnership firm.
Target Financial Performance:
- FY 2022-23: Turnover ₹16,98,966, Profit ₹1,94,364
- FY 2023-24: Turnover ₹1,50,235, Loss ₹(2,50,585)
- FY 2024-25: Turnover ₹19,54,702, Loss ₹(3,01,205)
Company Background: M/s Shree Shrest Minerals was registered on December 18, 2008, and is engaged in mining activities with a mining lease for Quartz and Feldspar. The firm operates exclusively in India.
Additional Information: This disclosure will be available on the company website at www.20microns.com.
Filing Authority: Komal Pandey, Company Secretary & Compliance Officer (ACS 37092)