Max Ventures and Industries : Acquisition

	June 5, 2022
Listing Department	Listing Department
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	Exchange Plaza, Bandra Kurla Complex,
Dalal Street	Bandra (East)
Mumbai - 400 001	Mumbai - 400051
Scrip Code: 539940	Name of Scrip: MAXVIL

Sub.: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") - Acquisition

Dear Sir/ Madam,

Pursuant to Regulation 30 of the Listing Regulation, we wish to inform that Max Estates Limited, wholly owned subsidiary of the Company has executed a Share Purchase Agreement on June 4, 2022 for acquisition of the 100% equity share capital of Accord Hotels and Resorts Private Limited.

In this respect, information as required under Annexure I of the Circular no. CIR/CFD/CMD/4/2015 issued by SEBI on September 09, 2015 is furnished as under:

S.	Particulars					Details
No.
1.	Name of the target entity.		Accord Hotels and Resorts Private Limited
	Details	in	brief	such as	size,
	Revenue from Operations*		Total Assets (INR
	turnover	etc.	based	on	the
2.	(INR in Lakhs)		in Lakhs)
Financial	Statements	as on
	NIL		2279.03
	March 31, 2021
	Whether the acquisition would
	fall within	related	party
	transaction(s) and whether the	Acquisition doesn't fall within related party transaction(s)
	promoter/	promoter	group/	and further the Promoter/	Promoter Group/ Group
2.	group	companies have	any	companies doesn't have any interest in Accord Hotels and
interest	in the	entity	being
	acquired? If yes, nature of	Resorts Private Limited.
	interest	and	details	thereof
	and whether the same is done
	at "arm's length.

3. Industry to which the entity Real Estate being acquired belongs.

	Objects	and	effects	of	The reason to acquire Accord Hotels and Resorts Private
	Limited is to use its only asset i.e. a ~10 acre land parcel
	acquisition (including but	not	located in Sector 128, Noida for the purpose of developing
4.	limited	to,	disclosure	of	a mixed use residential	community with an estimated
reasons	for	acquisition	of	saleable area of ~1 Mn Sq. Ft..
	target entity, if its business is
	outside the main line of	Post-acquisition, Accord	Hotels and Resorts Private
	business of the listed entity).	Limited will become a wholly owned subsidiary of Max

S.	Particulars						Details
No.
								Estates Limited.
	Brief	details		of	any	Obtain necessary statutory approvals as may be required
5.	governmental	or	regulatory	from development authorities i.e. from the Noida Authority
	approvals	required for	the	/ YEIDA.
	acquisition.
6.	Indicative	time	period	for	Within 45 (Forty Five) days from the date of Execution of
completion of the acquisition.		Share Purchase Agreement.
	Nature	of	consideration	-
7.	whether cash consideration or	Cash Consideration
share swap and details of the
	same.
	Cost of acquisition or the price
8.	at which	the		shares	are	INR 293 cr. (Enterprise value of INR 306 cr.)
	acquired.
	Percentage	of	shareholding	/

9. control acquired and / or 100% number of shares acquired.

Details of Accord Hotels and Resorts Private Limited

Brief

background

about

the

Brief background about the

The

company

was

entity

acquired

in terms

of

entity acquired in terms of

incorporated

with

the

products/line

of

business

products/line

of business

object

to

conduct

and

acquired,

date

of

acquired

carry

on

the

real estate

incorporation, history of last 3

and real

estate enabled

years

turnover,

country

in

10.

business

which the acquired entity has

Date of incorporation

29/07/2006

presence and

any other

History of last 3 years

FY 2020-21:0.05 lakhs

significant information (in brief)

turnover

FY 2019-20: 0.32 lakhs

FY 2018-19: 0.73 lakhs

Country in

which

the

India

acquired

entity

has

presence

You are requested to take the same on records.

Thanking you,

Yours faithfully

For Max Ventures and Industries Limited

Ankit Jain

Company Secretary and Compliance Officer