Acquisition Details
The Company has acquired 100% equity shares of SEVA BY TARA FOUNDATION, which is incorporated as a Section 8 Company. The acquisition makes SEVA BY TARA FOUNDATION a wholly owned subsidiary of M Ludlow Jute & Specialities Limited.
Target Company Details
- Name: SEVA BY TARA FOUNDATION
- Company Type: Section 8 Company (non-profit)
- Authorized & Paid-up Capital: ₹10,00,000
- Turnover: Not Applicable
- Business Activities: Veterinary activities, educational support services, other social work activities without accommodation
Transaction Structure
- Percentage Acquired: 100% (Wholly Owned Subsidiary)
- Consideration Type: Cash consideration
- Number of Shares: 100,000 shares of ₹10 per share
- Total Acquisition Cost: ₹10,00,000
Regulatory Approvals
The incorporation of the wholly owned subsidiary was approved by the Ministry of Corporate Affairs.
Related Party Status
SEVA BY TARA FOUNDATION is incorporated as a wholly owned subsidiary company and is therefore a related party of the Company.
Additional Information
- Background information about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country presence: Not applicable
- The disclosure is made with reference to SEBI circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Filing Submitted By
Neha Jain, Company Secretary, on behalf of M Ludlow Jute & Specialities Limited