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| Exchange Received Time 03-04-2018 00:15:12 Exchange Disseminated Time 03-04-2018 00:15:17 Time Taken 00:00:05 | Madam/Dear Sir,
We wish to inform you that, the Board of Directors of the Company in their Meeting held on April 02, 2018, has granted approval for the sale of all the equity shares held by the Company through Centrum Retail Services Limited (Subsidiary), together with the shareholders of Centrum Retail Services Limited in CentrumDirect Limited (a step-down subsidiary of the Company), subject to shareholder approvals and all concerned statutory and regulatory approvals, if and to the extent necessary, having been first obtained.
The details as required pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/ IR/CFD/CMD/4/2015 dated September 09, 2015, is as under:
Sr No Particulars Details
1 The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during the last financial year
For Financial Year 2016-17
Consolidated Turnover: Rs. 69,950,182,619/-
Contributed Turnover: Rs. 67,461,281,983/-
Contributed Networth: Rs. 2,596,033,254/-
Percentage - 96.44%
2 Date on which the agreement for sale has been
entered into
Share Purchase Agreement - April 02, 2018
3 The expected date of completion of sale/disposal 60 days from date of
execution unless extended by agreement of parties
4 Consideration received from such sale/disposal in the range of USD
175,000,000/- to USD
180,000,000/-
5 Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof
1.Ebix Inc.,USA
2.Ebix Fincorp Exchange Pte
Ltd., Singapore
The Buyers do not
belong to the
promoter/promoter group/group
companies.
6 Whether the transaction would fall within No
related party transactions? If yes, whether
the same is done at 'arms length'
The aforesaid information will also be disclosed on the website of the Company www.centrum.co.in.
Kindly take the same on record.
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