Sub: - Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015
This is to inform you that Redserv Global Solutions Limited ("RGSL"), a wholly-owned subsidiary of the Company has acquired Redserv Business Solutions Private Limited ("RBSPL").
Before the above-said transaction, RBSPL was a wholly-owned subsidiary of Redington Gulf FZE which is, in turn a step-downwholly-owned subsidiary of the Company.
Accordingly, RBSPL has become a wholly-owned subsidiary of RGSL and a step-down wholly- owned subsidiary of the Company.
We are enclosing the Annexure describing more details. Thanking you.
Name of the target entity, details in brief such as
Redserv Business Solutions Private Limited
size, turnover etc.
Authorized share capital - Rs. 10,00,000.
Paid-up share capital - Rs. 10,00,000.
2
Whether the acquisition would fall within
related
The acquisition does not fall under the
party transaction and whether the promoter/
related party transactions since the
promoter group/ group companies have any
transactions are between two wholly-owned
interest in the entity being acquired? If yes, nature
subsidiaries.
of interest and details thereof and whether the
same is done at "arms-length"
3
Industry to which the entity being acquired belong
IT-enabled shared services
4
Objects and effects of acquisition (including but
The investment will strengthen the presence
not limited
to, disclosure
of reasons for
of the acquirer in the field of IT-enabled
acquisition of target entity, if its business is outside
shared services and efficiency in operations.
the main line of business of the listed entity)
5
Brief details of any governmental or regulatory
No governmental or regulatory
approvals required for the acquisition;
approvals are required.
6
indicative time period for completion of the
Completed on May 26, 2022
acquisition
7
Nature of
consideration -
whether
cash
Cash considerations.
consideration
or share swap
and details of the
same
8
Cost of acquisition or the price at which the shares
100,000 equity shares at the value of Rs. 8.62
are acquired
per share.
9
Percentage of shareholding / Control acquired
100% acquired by RGSL
and / or number of shares acquired
10
Brief background about the entity acquired in
RBSPL was incorporated on March 27, 2017,
terms of products/line of business acquired, date
currently engaged in business of IT-enabled
of incorporation, history of last 3 years turnover,
enabled services.
country in which the acquired entity has
presence and any other significant
Turnover of the last 3 financial year.
information (in brief)
(Rs in thousands)
2019-20 - Rs. 226.
2020-21 - Rs. 9,152
2021-22 - Rs. 29,756.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Redington (India) Limited published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 13:42:20 UTC.
Redington Limited is an India-based technology solution provider company. The Company is engaged in the business of distribution of information technology, mobility, and other technology products besides supply chain solutions. The Company provides information technology solutions across cloud, technology, digital printing, and solar. Further, it is engaged in offering technology services, logistics services, business process solutions, and financial services. The principal activity of the Company is wholesale distribution of machinery, equipment, and supplies (Wholesale of computers, computer peripheral equipment, software, electronic and telecommunications equipment and parts). Its solution offerings include hyperconverged infrastructure, enterprise storage, storage visualization, fault tolerant solutions, and software-defined storage. It has a footprint in approximately 38 markets with over 290 international brand associations. The Company operates approximately 70 sales locations.
REDINGTON LIMITED 
