MITCON Consultancy & Engineering Services : Disclosure of other UPSI/material event

1

Name of the target entity, details in

Mahogany Vishwa Agro Private Limited (Target Entity). Brief financial details of

brief such as size, turnover etc.;

Target entity:

For financial details, refer point no. 10

2.

Whether the acquisition would fall

No

within related party transaction(s) and

whether

the promoter/

promoter

group/ group companies have any

interest in the entity being acquired? If

yes, nature of interest and details

thereof and whether the same is done

at "arm's length";

3

Industry to which the entity being

Agro and allied forestry

acquired belongs;

4

Objects and effects of acquisition

MITCON Nature Based Solution Pvt Ltd shall acquire 100% equity stakes held by

(including but not limited to,

Mr. Bhagatsing Manohar Shelke, Ms. Sonali Bhagatsing Shelke and Mr. Ganesh

disclosure of reasons for acquisition of

Madhav Haral at an aggregate consideration of Rs. 2 Crores.

target entity, if its business is outside

The Target Company is engaged in the business of Green chemistry, Agro-forestry,

the main line of business of the listed

entity);

Agro-products and other allied forestry. Providing E2E i.e. concept to

commissioning sustainable, environmental friendly solutions which will include Pre-

investment consulting services, Basic & detailed Engineering Services, Project

management consulting services, Technical audits, and EPCM / EPC solutions. The

proposed acquisition shall enable Investee Company to promotes sustainability and

acquiring stake in the Investee entity will not only provide platform for diversified

business activity but also it is aligned to the object of the company thereby working

for the protection of the environment and leaving the same for the upcoming

generations too.

5

Brief details of any governmental or

None

regulatory approvals required for the

acquisition;

6

Indicative time period for completion

Within 10 business days, subject to completion of closing conditions.

of the acquisition;

7

Nature of consideration - whether

Cash

cash consideration or share swap and

details of the same;

9

Percentage of shareholding / control

100%

acquired and / or number of shares

acquired;

10

Brief background about the entity

The Target Company was established on 25th January, 2019.

acquired in terms of products/line of

The Target Company is engaged in the business of Green chemistry, Agro-forestry,

business

acquired,

date

of

Agro-products and other allied forestry. Providing E2E i.e. concept to

incorporation, history of last 3 years

commissioning sustainable, environmental friendly solutions which will include Pre-

turnover, country in which the

investment consulting services, Basic & detailed Engineering Services, Project

acquired entity has presence and any

management consulting services, Technical audits, and EPCM / EPC solutions.

other significant information

(in

brief);

Last 3 years' turnover:

2021-22: Rs. 563.92 lacs

2020-21: Rs. 224.21 lacs

2019-20: Rs. NIL

The Target Company has presence in India only.