ASI Industries Acquires 5.56% Stake in Target Company Through Merger

Thacker has recently expanded its portfolio through a strategic acquisition, marking a significant corporate action in the market. The company has acquired a 5.56% stake in an unnamed target company as part of a merger process involving Deejay Mining and Exports Private Limited.

Acquisition Details

The transaction, which was completed on July 12, 2021, involved the transfer of 60,495 shares to ASI Industries Limited. This acquisition was executed as part of the amalgamation of Deejay Mining and Exports Private Limited with the target company.

Stake and Voting Capital

Following the acquisition, ASI Industries' holding in the target company stands as follows:

Aspect	Details
Shares Acquired	60,495
Stake Percentage	5.56%
Total Voting Capital of Target Company	1,087,719

Regulatory Compliance

The disclosure of this acquisition was made in compliance with the Securities and Exchange Board of India (SEBI) regulations concerning substantial acquisition of shares and takeovers. This adherence to regulatory requirements underscores ASI Industries' commitment to transparency in its corporate actions.

Market Implications

This acquisition represents a strategic move by ASI Industries to potentially strengthen its position in the sector. The merger and subsequent stake acquisition could lead to synergies between ASI Industries and the target company, possibly enhancing operational efficiencies or market reach.

Investors and market analysts may be watching to see how this acquisition fits into ASI Industries' broader growth strategy and what potential benefits it may bring to the company's overall performance.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.05%	+7.26%	+2.06%	+19.46%	+40.33%	+767.82%

Thacker and Company Limited (TCL) has announced a significant corporate action, seeking shareholder approval for a material related party transaction with Biodegradable Products India Limited (BPIL). The proposed transaction, involving inter-corporate deposits and resource transfers, underscores the intricate financial relationships within the corporate landscape.

Transaction Details

The proposed arrangement includes:

Aspect	Details
Transaction Type	Inter-corporate deposits and resource transfers
Maximum Transaction Value	Rs 2,000 lakhs per financial year
Interest Rate	7.00% to 9.00% per annum
Nature	Repayable on demand, continuous arrangement
Percentage of TCL's Annual Consolidated Turnover	Approximately 652.23%

Corporate Relationship

The transaction highlights the close ties between TCL and BPIL:

Common Directors: Mr. Arunkumar Jatia and Mr. Surendrakumar Bansal serve on both companies' boards.
Significant Shareholding: Mr. Arunkumar Jatia holds 45.74% of BPIL's share capital.

Approval Process and Voting

The Board of Directors and Audit Committee of TCL approved the transaction on October 27, subject to shareholder approval. Shareholders can cast their votes through remote e-voting:

Commencement: October 31 (09:00 a.m. IST)
Conclusion: November 29 (05:00 p.m. IST)

Strategic Implications

While BPIL is currently loss-making with a negative net worth, it holds approximately 25 acres of land near Hinjewadi, Pune. This land asset presents potential for future growth and value creation, possibly influencing TCL's decision to engage in this substantial transaction.

Regulatory Compliance

The transaction falls under the purview of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, necessitating shareholder approval due to its material nature. TCL asserts that the transaction is at arm's length and in the ordinary course of business.

This proposed transaction represents a significant financial commitment for Thacker and Company Limited, potentially impacting its liquidity and financial position. Shareholders will need to carefully consider the terms and potential benefits of this arrangement before casting their votes.