Scrip Code: 530117
Symbol: PRIVISCt
A) ln light of the improved performance of the Company and the availability of sufficient cash accruals to meet capital expenditure requirements , the Board has decided not to proceed with capital raising by way of a qualified institutions placement of equity shares aggregating up to {1,000 crores as approved by the board and the shareholders of the Company pursuant to their resolutions dated May 2, 2024 and August 12, 2024, respectively.
b) in supersession of the stock exchange announcement and the resolution passed by the Board, each dated June 24,2024, approval has been granted by the Board to a scheme of amalgamation of Privi Fine Sciences Private Limited, a related party of the Company ('PFSPL') and Privi Biotechnologies Private Limited, a wholly owned subsidiary of the Company ('PBPL') (PFSPL together with PBPI. 'Transferor Companies'), with Privi Speciality Chemicals Limited ('PSCL' or the 'Transferee Company'), as per Section 230 to 233 and other applicable provisions of the Companies Act, 2013, as amended (the 'Act', and such scheme of merger/amalgamation, the 'Proposed Scheme').
The Proposed Scheme will be in compliance with applicable law including the provisions of the SEBI Master Circular No. SEBI/HO/CID/POD-2/P/ClR/2023/93 dated June 20,2023 and is further subject to compliance with the minimum public shareholding requirements under rule 19(2Xb) and 19A of the Securities Contracts (Regulation) Rules, 1957 read with Regulation 38 of the SEBI Listing Regulations.
The Proposed Scheme envisages, among other things, the merger and related consolidation synergies of the business of the Transferor Companies into the Transferee Company on a going concern basis and thereby preserving and creating value for its shareholders, creditors and other stakeholders.
The Proposed Scheme is also a material related party transaction in accordance with the provisions of Regulation 23 of the SEBI Listing Regulations and, accordingly, is subject to approval of the shareholders of the Company.
Additionally, the Proposed Scheme is subject to the receipt of approval from the shareholders and creditors of pSCl. PFSPL and PBPL, the National Company Law Tribunal (the 'NCLT'), the Securities and Exchange Board of lndia ('SEB;'), BSE Limited and National Stock Exchange of lndia Limited (together, the 'Stock Exchanges'), as applicable and such other approvals, permissions and sanctions of regulatory and other authorities, as may be necessary.
The relevant disclosures, as required under Regulation 30 read with Para A of Part A of Schedule lll of the SEBI Listing Regulations and the SEBI Circular SEBI/HO/CFD/PoDz/CIR/P/0155 dated November LI,2Q24, are enclosed in Annexure I hereto. |
Scrip Code: 530117
Symbol: PRIVISCt
A) ln light of the improved performance of the Company and the availability of sufficient cash accruals to meet capital expenditure requirements , the Board has decided not to proceed with capital raising by way of a qualified institutions placement of equity shares aggregating up to {1,000 crores as approved by the board and the shareholders of the Company pursuant to their resolutions dated May 2, 2024 and August 12, 2024, respectively.
b) in supersession of the stock exchange announcement and the resolution passed by the Board, each dated June 24,2024, approval has been granted by the Board to a scheme of amalgamation of Privi Fine Sciences Private Limited, a related party of the Company ('PFSPL') and Privi Biotechnologies Private Limited, a wholly owned subsidiary of the Company ('PBPL') (PFSPL together with PBPI. 'Transferor Companies'), with Privi Speciality Chemicals Limited ('PSCL' or the 'Transferee Company'), as per Section 230 to 233 and other applicable provisions of the Companies Act, 2013, as amended (the 'Act', and such scheme of merger/amalgamation, the 'Proposed Scheme').
The Proposed Scheme will be in compliance with applicable law including the provisions of the SEBI Master Circular No. SEBI/HO/CID/POD-2/P/ClR/2023/93 dated June 20,2023 and is further subject to compliance with the minimum public shareholding requirements under rule 19(2Xb) and 19A of the Securities Contracts (Regulation) Rules, 1957 read with Regulation 38 of the SEBI Listing Regulations.
The Proposed Scheme envisages, among other things, the merger and related consolidation synergies of the business of the Transferor Companies into the Transferee Company on a going concern basis and thereby preserving and creating value for its shareholders, creditors and other stakeholders.
The Proposed Scheme is also a material related party transaction in accordance with the provisions of Regulation 23 of the SEBI Listing Regulations and, accordingly, is subject to approval of the shareholders of the Company.
Additionally, the Proposed Scheme is subject to the receipt of approval from the shareholders and creditors of pSCl. PFSPL and PBPL, the National Company Law Tribunal (the 'NCLT'), the Securities and Exchange Board of lndia ('SEB;'), BSE Limited and National Stock Exchange of lndia Limited (together, the 'Stock Exchanges'), as applicable and such other approvals, permissions and sanctions of regulatory and other authorities, as may be necessary.
The relevant disclosures, as required under Regulation 30 read with Para A of Part A of Schedule lll of the SEBI Listing Regulations and the SEBI Circular SEBI/HO/CFD/PoDz/CIR/P/0155 dated November LI,2Q24, are enclosed in Annexure I hereto. |
Kindly find attached herewith Outcome of Board Meeting held on today i.e. 30th May, 2025.
The Board of Directors of the Company in their meeting held on 30th May, 2025, subject to the requisite approvals/ consents have considered and approved the draft Scheme of Merger by Absorption of Pakka Impact Limited ('PIL'), a wholly owned subsidiary of the Company by Pakka Limited ('PL') and their respective shareholders ('Scheme' or 'Draft Scheme') under Section 230 to 233 and applicable provisions of the Companies Act, 2013. The Appointed Date of the Scheme is 1st April, 2025
Kindly find attached herewith Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
(As Per BSE Announcement dated on 30.05.2025) |