| The Board of The Ramco Cements at its meeting held on 12 July 2023 has approved the execution of the Share Subscription and Purchase Agreement (SSPA) for the purpose of sale and transfer of its entire shareholding (i.e. 49,95,16,202 equity shares) in Lynks
Logistics (Lynks) to Bundl Technologies (Bundl, operating under the brand name “Swiggy”) in exchange for Compulsorily Convertible Preference Shares of Bundl to be issued and allotted by Bundl to the
Company.
The company will also be providing representations / warranties / indemnities to Bundl in connection with the proposal, the aggregate indemnification liability of the Company not to exceed Rs.86,56,57,050/- as per the agreed terms under the SSPA, subject to any Closing date adjustments on account of Working Capital and Net Debt of Lynks. |