Ashok Leyland Ltd. — Capital/Financing Update 2021

Feb 25, 2021

February 25, 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 the Company has entered into a Share Purchase Agreement with Nissan International Holding BV to acquire 58,500,000 shares for a total consideration of Rs.70,20,00,000/- constituting 38% in the paid-up share capital of Hinduja Tech Limited ("HTL"). Consequent to the aforesaid acquisition, HTL will become a wholly owned 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 inbrief such as size, turnover etc.	Hinduja Tech Limited("HTL")Consolidated revenue as on March 31, 2020:Rs.226 Crores
2.	a.whether the acquisition would fallwithin related party transaction(s)	Not applicable
	b.whether the promoter/ promotergroup/ group companies have anyinterest in the entity being acquired	Yes, being promoter and shareholder of HTL
	c.If yes, nature of interest and detailsthereof and whether the same isdone at "arm's length"	The acquisition of shares is at arm's lengthbasis.
3.	Industry to which the entity beingacquired belongs	Technology(IT & ITeS)
4.	Objects and effects of acquisition(includingbutnotlimitedto,disclosure of reasons for acquisitionof target entity, if its business isoutside the main line of business ofthe listed entity)	The Company owns 62% inthe paid-up sharecapital of HTL and the remaining is held byNissan International Holding B.V. TheCompany proposes to acquire 58,500,000shares held by Nissan International HoldingB.Vto make it as a wholly owned subsidiaryof the Company.
5.	Brief details of any governmental orregulatory approvals required fortheacquisition	Not applicable
6.	Indicative time period for completionof the acquisition	OneBusiness Day from the issuance of the lastoftheConditionsPrecedentSatisfactionCertificateasmentionedintheSharePurchase Agreement.
7.	Nature of consideration –whethercash consideration or share swap anddetails of the same	Cash
8.	Cost of acquisition or the price atwhich the shares are acquired	Rs.70,20,00,000/-
9.	Percentage of shareholding/ controlacquired and /or number of sharesacquired	38%ofthe total paid-up capital of HTL.

S.No.	Details of the Event	Information of such events
	10 Brief background about the entity	HTL is engaged in the business of IT & ITeS
	acquired in terms of products/line of	industry. The audited Consolidated financials
	acquired,dateofbusiness	of the last three years are given below:
	incorporation, history of last 3 years	Rs. in Lakhs
	turnover, country in whichthe	Particulars	FY 2017-	FY 2018-	FY 2019-
	acquired entity has presence and any		18	19	20
	significant informationother(in	Revenue	15738.70	21019.02	22616.65
	brief);
		Profit/(Loss)	116.83	1430.02	1595.43
		after tax

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