JHS Svendgaard Retail Ventures Subscribes 50 Lakh Optionally Convertible Debentures from Purple Rock Infra Private Limited
JHS Svendgaard Retail Ventures Limited has subscribed 50,00,000 Optionally Convertible Debentures (OCD) issued by Purple Rock Infra Private Limited. The investment represents a strategic foray into the infrastructure sector for JHS Svendgaard Retail Ventures Limited.The company completed the subscription of these OCDs, with the face value set at Rs. 10/- per unit. The total value of debentures subscribed amounts to INR 5,00,00,000/- through cash consideration via a normal banking channel.
This investment involves Purple Rock Infra Private Limited, which operates in the infrastructure industry. Although the transaction is described as strategic investment and does not qualify as an acquisition at present, it falls under the purview of related party transactions under Section 177 of the Companies Act, 2013, and has been carried out at arm's length.
A summary of the entities and the financial details of the transaction is presented in the table below:
| Particular | Details |
|---|---|
| Target Entity Name | Purple Rock Infra Private Limited |
| Industry | Infrastructure |
| Target Incorporation Date | March 10, 2024 |
| JHS Investment | 50,00,000 7%, Optionally Convertible Debentures (OCD) |
| Subscription Cost | INR 5,00,00,000/- |
| Purchase Consideration Type | Cash Consideration by way of remittance through normal banking channel |
| Status of Acquisition | The current investment does not qualify as acquisition. |
Transaction and Company Background
The subscription is part of a strategic decision to strengthen long-term business relations within the infrastructure sector. As of today, JHS Svendgaard Retail Ventures Limited holds no shareholding in Purple Rock Infra Private Limited. Future shareholding will depend on the conversion of existing 85,00,000 OCDs.Purple Rock Infra Private Limited was incorporated in Delhi and is involved in infrastructure projects. The company’s authorized share capital stands at Rs. 10,00,000 with a paid-up capital of Rs. 10,00,000. Due to the target company's recent incorporation on March 10, 2024, its turnover for the last three financial years is not applicable.
The indicative time period set for the completion of this subscription remains within 60 days.
RETAIL Stock Price Movement
Today, JHS Svendgaard Retail Ventures Limited shares edged higher to close at ₹18.25 after rallying 4.56%. The stock traded within a session range of ₹16.68 to ₹18.36, with 1,805 shares accounted for in the trading volume.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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