Ashima Ltd — Capital/Financing Update 2023

Dec 1, 2023

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01[st] December, 2023

To, BSE Limited

Corporate Relationship Department, 25[th] Floor, P J Towers, Dalal Street, Fort, Mumbai – 400001 SECURITY CODE NO. 514286

To,

National Stock Exchange of India Ltd Exchange Plaza 5[th] Floor, Plot no. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 SECURITY CODE NO. ASHIMASYN

Dear Sir/ Madam,

Sub: Allotment of Unlisted, Secured, Unrated, Redeemable, Rupee Denominated, Non-Convertible Debentures on Private Placement basis (“NCDs”) – Tranche- V

With reference to the captioned subject and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance to our letter dated 26[th] July, 2023, intimating the approval of fund raising by the Company through issuance of Non-Convertible Debentures on private placement basis in one or more tranches up to an amount not exceeding Rs.30 Crores (Rupees Thirty Crores only) and read with Shareholders approval accorded to the Material Related Party Transaction at the Annual General Meeting of the Company held on 25[th] August, 2023, this is to inform you that the Sub-Committee of Directors (“Committee”) of the Company has, at its meeting held today i.e. 01[st] December, 2023, approved the allotment of 500 (Five Hundred) Unlisted, Secured, Unrated, Redeemable, Rupee Denominated, NonConvertible Debentures of face value of Rs.1,00,000/- (Rupees One Lakh only) each aggregating to Rs.5,00,00,000/- (Rupees Five Crores only) on Private Placement basis (“NCDs”) – Tranche-V.

The brief terms and conditions of the Issue of NCDs- Tranche-V, approved by the Committee is annexed herewith and marked as Annexure-I.

The meeting commenced at 3:30 p.m. and concluded at 3:55 p.m.

This is for your information and records.

Yours faithfully, For Ashima Limited

Digitally signed by SHWETA SULTANIA DN: c=IN, o=Personal, SHWETA pseudonym=15E92D174FBF210DD1525EB2B4B54047AAE6E221, 2.5.4.20=3773c076ef0163b5656e1803e4086aa591e27 0c11fb2ca81ccbc10ce9cc0b102, postalCode=380055, st=Gujarat, serialNumber=5988C6AC8A761CA9A45C62B8D07A0E SULTANIA 8CCD50129BC3A36104135D915AEB1FF57A, cn=SHWETA SULTANIA Date: 2023.12.01 16:01:54 +05'30' Shweta Sultania Company Secretary & Compliance Officer

Encl: As above

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Annexure-I

Terms and Conditions of the Issue of NCDs

Size of the issue		500 (Five Hundred) unlisted, secured, unrated,redeemable, rupee denominated, non-convertibledebentures of a face value of Rs.1,00,000/- (RupeesOneLakhonly)eachaggregatingtoRs.5,00,00,000/- (Rupees Five Crores only).(Tranche-V)
Type of securities		Unlisted, Secured, Unrated, Redeemable, RupeeDenominated,Non-ConvertibleDebentures.(“ NCDs”)
Type of Issuance		Issue of NCDs on Private Placement Basis.
Whether proposed to be listed? If yes, name of thestock exchange(s)		No
Tenure of the instrument - date of allotment anddate of maturity		5 years from the date of allotment ofNCDswithCall Option.Date of Allotment: 01stDecember, 2023
Coupon/interest offered, schedule of payment ofcoupon/interest and principal		Coupon/Interest Offered:12% per annumDue date of Interest Payment:On 31stMarch everyyear or if 31stMarch is not a Business Day then onthe immediately succeeding Business Day.Principal Repayment:5 years from the date ofallotment of NCDs with Call Option.The Company at all times shall have an option tocall the debenture holder by sending them a noticein writing ("Call Option Notice'') to make an offerfor redemption of NCDs in Part or Full.
Charge/security, if any, created over the assets		The principal amount of NCDs shall be secured bycreation of first charge on Non – Agricultural Landby entering into a Deed of Mortgage in compliancewith the provisions of applicable laws.SHWETADigitally signed by SHWETA SUDN: c=IN, o=Personal,pseudonym=15E92D174FBF2154047AAE6E221

SHWETA SULTANI A

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: 2023.12.01 16:02:25 +05'30'

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Special right/interest/privileges attached to theinstrument and changes thereof;	None
Delay in payment of interest/principal amount for aperiod of more than three months from the due dateor default in payment of interest/principal;	Not Applicable
Default Interest Rate	In case of default in the payment of interest and/ orprincipal amount on the due dates, an additionalInterest @ 2% per annum will be payable by theIssuer for the defaulting period.
Details of any letter or comments regardingpayment/non-payment of interest, principal on duedates, or any other matter concerning the securityand/or the assets along with its comments thereon,if any;	None
Details of redemption of debentures	5 years from the date of allotment of NCDs withCall Option. Company at all times shall have anoption to call the debenture holder by sending anotice in writing ("Call Option Notice'') to make anoffer for redemption of NCDs in Part or Full.NCDs will be redeemed at par along with accruedinterest on the maturity date.

For Ashima Limited

SHWETA Digitally signed by SHWETA SULTANIA DN: c=IN, o=Personal, pseudonym=15E92D174FBF210DD1525EB2B4B54047AAE6E221, 2.5.4.20=3773c076ef0163b5656e1803e4086aa591e270c11fb2ca81ccbc10ce9cc0b102, postalCode=380055, st=Gujarat, serialNumber=5988C6AC8A761CA9A45C62B8D07A0 SULTANIA E8CCD50129BC3A36104135D915AEB1FF57A, cn=SHWETA SULTANIA Date: 2023.12.01 16:02:52 +05'30'

SHWETA SULTANIA Shweta Sultania

Company Secretary & Compliance Officer

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