Ashok Leyland Ltd. — Capital/Financing Update 2021

Jun 15, 2021

June 15, 2021

National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai - 400 051

Scrip Code: ASHOKLEY

Through: NEAPS

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

Scrip Code: 500477

Through: BSE Listing Centre

Dear Sir/Madam,

Sub: Regulation 30 (Disclosure of events or information) - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 of SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Switch Mobility Limited, UK, subsidiary of the Company has acquired the entire shareholding in Switch Mobility Automotive Limited, India on June 14, 2021. In view of the same, Switch Mobility Automotive Limited, India has become a step-down subsidiary of the Company.

The details required under Regulation 30 of SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015 are given as an annexure.

We request you to kindly note and take the above information on record.

Thanking you,

Yours faithfully, for ASHOK LEYLAND LIMITED

N Ramanathan Company Secretary

Encl: a/a

Annexure

S.No.	Details of the Event	Information of such events
1.	Name of the Target entity, details in	Switch Mobility Automotive Limited,
	brief such as size, turnover etc.	("SMAL")
		AuthorisedShare Capital:Rs 1 Crore
		Paid up Share Capital: Rs.3.50Lakhs
		Revenue as on March 31, 2021: NIL
2.	a.whether the acquisition would fall	No
	within related party transaction(s)
	b.whether the promoter/ promoter
	group/ group companies have any	Yes, being promoter of Switch Mobility
	interest in the entity being acquired	Limited,UK.
	c.If yes, nature of interest and details
	thereof and whether the same is	Yes, the investment in the equity shares of
	done at "arm's length"	SMALis at arm's length.
3.	Industry to which the entity being	Electric Vehicles
	acquired belongs
4.	Objectsandeffectsofacquisition(includingbutnotlimitedto,	SMAL is incorporated to carry on the businessof manufacture and sale of electric vehicles.
	disclosure of reasons for acquisition
	of target entity, if its business is
	outside the main line of business of
	the listed entity)
5.	Brief details of any governmental or	The approval of the Reserve Bank of Indiais
	regulatory approvals required forthe	obtained.
	acquisition
6.	Indicative time period for completion	Not applicable.
	of the acquisition
7.	Nature of consideration –whether	Cash
	cash consideration or share swap and
	details of the same
8.	Cost of acquisition or the price at	Rs.10/-per share each.
	which the shares are acquired
9.	Percentage of shareholding/ control	100%
	acquired and /or number of shares
	acquired

S.No. Details of the Event	Information of such events
10 Brief background about the entity	SMAL is incorporated to carry on the
	acquired in terms of products/line of $\vert$ business of manufacture and sale of electric
acquired, datebusiness	of automobiles on December 28,2020.
	incorporation, history of last 3 years The Registered Office of the Company is at
	turnover, country in which the No.1, Sardar Patel Road, Guindy, Chennai -
acquired entity has presence and any	600 032.
other significant information (in brief);	History of last 3 years turnover - Not
	Applicable

ASHOK LEYLAND LIMITED

Registered & Corporate Office: No.1, Sardar Patel Road, Guindy, Chennai - 600 032, India | T : +91 44 2220 6000 | F : +91 44 2220 6001 CIN - L34101TN1948PLC000105 | www.ashokleyland.com