TCC Concept Ltd to acquire Natural Environment Solutions Pvt Ltd through share swap

The Board of directors of TCC Concept Limited have decided to take over the businesses and management of Natural Environment Solutions Private Limited (NES) at a valuation of Rs. 461,03,12,960 (Rupees Four Hundred Sixty One Crore Three Lakh Twelve Thousand Nine Hundred and Sixty) 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 Company is acquiring 15,895 equity share at Rs. 2,90,048/- per shares (including premium of Rs. 2,90,038 per equity share) by way of swap of share.

NES is creating its niche position in the fastest growing India data center industry and setting up 5 MW capacity Data center at Hinjewadi, Pune and over next 3 years, NES plans to set up and/ or operate more than 100 MW Data center capacity in India. NES has developed their skill set over couple of years of experience in building data center related infrastructure. NES has also developed certain unique designs which could create Mini Data centers to meet the demands of Edge Computing and making those data centers closer to the source so that to provide best data experiences to the consumers.

The Net worth of NES as on 13.07.2024: Rs. 170.95 Cr.

The Board has considered and take on record the Valuation Report of the Company dated July 13, 2024 received from Mr. Bhavesh M Rathod, IBB Valuer for the Company along with Valuation Report of Natural Environment Solutions Private Limited ('NES').

Shares of AASWA TRADING & EXPORTS LTD. was last trading in BSE at Rs. 695.85 as compared to the previous close of Rs. 719.30. The total number of shares traded during the day was 17343 in over 238 trades.

The stock hit an intraday high of Rs. 724.80 and intraday low of 683.35. The net turnover during the day was Rs. 11995312.00.

Source : Equity Bulls

Keywords

TCCConcept INE887D01016 Acquisition NaturalEnvironmentSolutions ShareSwap DataCenter 5MW Hinjewadi Pune