Raymond Limited is informing these regulatory bodies about certain business decisions made by the company.
Here’s a simplified explanation:
- Raymond Limited is a company in India, and they are writing this letter to inform the stock exchanges about two important decisions they’ve made.
- The first decision is about a company called Ring Plus Aqua Limited (RPAL), which is a subsidiary of Raymond Limited. RPAL is going to buy another company called Maini Precision Products Limited (MPPL) for a total price of INR 682 Crores (Indian currency). This means RPAL will own 59.25% of MPPL.
- The second decision involves three companies: JK Files & Engineering Limited (JKFEL), RPAL, and MPPL. They are planning to combine their engineering businesses into a new company, and this process is called a “Composite Scheme of Arrangement.” It requires certain approvals.
- The letter provides details about the acquisition of MPPL in Annexure-1, including information about MPPL’s financials and the reasons for the acquisition.
- Annexure-2 provides details about the Composite Scheme, including the entities involved, the division to be demerged, and the reasons for this restructuring.
In simple terms, that Raymond Limited is making some big changes in its business by acquiring another company and restructuring its engineering business.
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