Ashok Leyland Ltd. — Capital/Financing Update 2021

Feb 16, 2021

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February 16, 2021

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

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001 Scrip Code : 500477

Through : NEAPS

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 had invested a total amount of Rs.18.66 Crores constituting 26% in the paid-up share capital of Prathama Solarconnect Energy Private Limited.

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

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N Ramanathan Company Secretary Encl: a/a

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Annexure

S.No.	Details of the Event	Information of such events
1.	Name of the Target entity, details in brief such as size, turnover etc.	Prathama Solarconnect Energy Private Limited (“PSEPL”) Revenue as on March 31, 2020: NIL
2.	a. whether the acquisition would fall within related party transaction(s) b. whether the promoter/ promoter group/ group companies have any interest in the entity being acquired c. If yes, nature of interest and details thereof and whether the same is done at "arm's length"	Yes Yes, being shareholder of PSEPL. Yes, the acquisition of equity shares of PSEPL is at arm's length
3.	Industry to which the entity being acquired belongs	Solar Power generation business
4.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	Investment for purchase of solar power at subsidised rate under Group Captive Scheme.
5.	Brief details of any governmental or regulatory approvals required for the acquisition	Not applicable
6.	Indicative time period for completion of the acquisition	Not applicable
7.	Nature of consideration – whether cash consideration or share swap and details of the same	Cash
8.	Cost of acquisition or the price at which the shares are acquired	Rs.10/- per share
9.	Percentage of shareholding/ control acquired and /or number of shares acquired	26%

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S.No.	Details of the Event		Information of such events
10	. Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);		PSEPL is engaged in solar power generation business. The audited financials of the last three years are given below: Rs. in Lakhs Particulars FY 2017- 18 FY 2018- 19 FY 2019- 20 Revenue NA NA - Profit/(Loss) after tax NA NA (76.97) _incorporated on January 15, 2019. First financial_ year isfrom January 15, 2019 to March 31, 2020

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