Ashima Ltd — Capital/Financing Update 2022

Dec 20, 2022

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20[th] December, 2022

To,

To,

BSE Limited National Stock Exchange of India Ltd Corporate Relationship Department, Exchange Plaza 5[th] Floor, Plot no. C/1, 25[th] Floor, P J Towers, Dalal Street, G Block, Bandra Kurla Complex, Fort, Mumbai – 400001 Bandra (East), Mumbai – 400051 SECURITY CODE NO. 514286 SECURITY CODE NO. ASHIMASYN

Dear Sir/ Madam,

Sub: Outcome of Board Meeting held on 20[th] December, 2022

With reference to the captioned subject matter and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at its meeting held today i.e. 20[th] December, 2022, inter-alia have considered and approved the raising of funds through issuance of Non-Convertible Debentures on private placement basis in one or more tranches, up to an amount not exceeding Rs. 50 Crores (Rupees Fifty Crores only), in accordance with the applicable laws including the provisions of the Companies Act, 2013 and the rules framed thereunder, as amended from time to time (“Issue of NCDs”) . These Debentures will have zero coupon rate and will be redeemable at a premium. Apart from the above Issue of NCDs, the Project will also be funded from the Company’s Own Funds.

The aforesaid Issue of NCDs is for financing the Company’s project for development of High Rise Residential Apartments. The revenues from the project are likely to be approx. Rs. 400 Crores (Rupees Four Hundred Crores).

Further, the Board of Directors have delegated the powers to the Committee of Directors in respect of Issue of NCDs including powers to decide all the terms and conditions for Issue of NCDs and the matters connected and incidental thereto.

The Issue of NCDs will be within the current borrowing limits applicable to the Company under Section 180(1)(c) of the Companies Act, 2013.

The meeting of Board of Directors commenced at 11:35 a.m. and concluded at 12:20 p.m.

Yours faithfully, For Ashima Limited

SHWETA SULTANIA Digitally signed by SHWETA SULTANIA DN: c=IN, o=Personal, pseudonym=15E92D174FBF210DD1525EB2B4B54047AAE6E221, 2.5.4.20=3773c076ef0163b5656e1803e4086aa591e270c11fb2ca81ccbc10ce9cc0b102, postalCode=380055, st=Gujarat, serialNumber=5988C6AC8A761CA9A45C62B8D07A0E8CCD50129BC3A36104135D915AEB1FF57A, cn=SHWETA SULTANIA Date: 2022.12.20 12:39:54 +05'30' Shweta Sultania Company Secretary & Compliance Officer

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