Sub.: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")
Dear Sir/ Madam,
We refer to our letter dated August 4, 2022 bearing Ref. No.: GMM/SEC/2022-23/29 and subsequent communications regarding the proposed acquisition by GMM Pfaudler Limited ("Company") of balance 46% shareholding of its existing overseas subsidiary, GMM International S.à.r.l. from Pfaudler International S.à.r.l. (a promoter group company and part of the private equity firm Deutsche Beteiligungs AG Fund VI) and Millars Concrete Technologies Private Limited (a promoter group company and part of the Patel family) which would result in the Company consolidating 100% of the Pfaudler International business ("Proposed Acquisition").
In this regard, please note that on September 29, 2022:
The Company has completed the payment of INR 149,46,61,094 to Pfaudler International S.à.r.l.
The Company has completed the payment of INR 23,91,05,456 to Millars Concrete Technologies Private Limited.
The Board of Directors of the Company have on September 29, 2022, approved the allotment of 11,04,724 fully paid-up equity shares of the Company having face value of INR 2 each, at a price of INR 1,542.43 each to Millars Concrete Technologies Private Limited.
Consequent to the aforesaid allotment, the issued, subscribed, and paid-up share capital of the Company has increased as under:
In furtherance to the above, we would like to inform you that the acquisition of 46% of the share capital of GMM International S.à.r.l by the Company from Pfaudler International S.à.r.l and from Millars Concrete Technologies Private Limited is now complete, pursuant to which, the Company now holds, directly and indirectly, 100% of the share capital of GMM International S.à.r.l.
Kindly take the same on record and disseminate the information.
GMM Pfaudler Ltd. published this content on 29 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2022 13:33:35 UTC.
GMM Pfaudler Limited is an India-based company that is engaged in manufacturing of corrosion resistant glass-lined equipment used primarily in the chemical, pharmaceutical and allied industries. The Company also manufactures flouro-polymer products and other chemical process equipment such as agitated nutsche filters, filter driers, wiped film evaporators and mixing systems. The Company's segments include India and Overseas. It provides solutions for a myriad of applications, such as reaction, evaporation, acid recovery, distillation, filtration and drying. Its services include glass-lined technology, lab, and process glass, mixing technology, sealing technology, alloy process equipment, fluoropolymers, and membrane separation systems. The Companyâs manufacturing unit is located at Karamsad and Vatva, Gujarat and Hyderabad, Telangana It serves various industries, including chemical, pharmaceutical, food and beverage, and oil and gas. It has 16 manufacturing facilities.