TCC Concept has planned to take over the businesses and management of Natural Environment Solutions (NES) at a valuation of Rs 461.03 crore against issue of shares of the company to promoters and non-promoters at an issue price of Rs 352 per share as per the valuation and compliance with Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and in accordance provisions of the Companies Act, 2013 and rules framed there under subject to approval by the members. Following this share allotment (by way of swap of shares), NES will become a 100% subsidiary of the Company.
The object of company is to takeover NES whose business activities are strategically suitable in accordance with Company’s business plan. The impact of this acquisition by issue of new shares, is increasing the wealth of the Shareholders and other stake holders. Reason for acquisition of target entity is to expand/ diversify the business of company in the field of Data Centre Industry.
TCC Concept (Formerly known as Aaswa Trading and Exports) is engaged in cotton fabrics trading business in India. The company is based in Ahmedabad, India.
| Company Name | CMP |
|---|---|
| Redington | 234.90 |
| Adani Enterprises | 2218.35 |
| Amrapali Industries | 17.53 |
| Rashi Peripheral | 455.25 |
| PDS | 301.45 |
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