Blue Star Ltd — Capital/Financing Update 2020

Jun 1, 2020

==> picture [557 x 108] intentionally omitted <==

June 1, 2020

BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, C-1, Block G,
Dalal Street, Fort,	Bandra Kurla Complex, Bandra (East),
Mumbai - 400 001	Mumbai - 400 051
BSE Scrip Code: 500067	NSE Symbol: BLUESTARCO

Dear Sir/Madam,

Sub: Press Release

We are enclosing herewith a copy of the Press Release issued by the Company titled “Blue Star raises Rs 350 crores through issuance of unsecured Non-Convertible Debentures” .

The aforesaid information is also being placed at the website of the Company, i.e. www.bluestarindia.com

Kindly take the same on record.

==> picture [117 x 92] intentionally omitted <==

----- Start of picture text ----- Thanking you,Yours faithfully,For Blue Star LimitedVijay DevadigaCompany Secretary----- End of picture text -----

==> picture [76 x 75] intentionally omitted <==

==> picture [54 x 10] intentionally omitted <==

----- Start of picture text ----- Encl: a/a----- End of picture text -----

Z:(01) Blue Star Limited\2020-21\Stock Exchange Compliance\Reg 30 Information and update\Press Release\01.06.2020

==> picture [487 x 41] intentionally omitted <==

Blue Star Limited

==> picture [113 x 24] intentionally omitted <==

PRESS RELEASE

Blue Star raises Rs 350 crores through issuance of unsecured Non-Convertible Debentures

Blue Star Limited, India’s premier air conditioning and commercial refrigeration player has successfully completed the raising of Rs 350 crores through private placement of Non-Convertible Debentures (NCDs). The NCDs will be listed on the Wholesale Debt Market of National Stock Exchange of India Limited (NSE). The NCDs are unsecured and carry a coupon rate of 7.65% with a tenure of three years along with a call option at the end of two years with the Company for half of the NCD amount. The proceeds from the issue shall be primarily utilised for financing working capital, and for repayment of existing short term borrowings and business liabilities.

Mr Vir S Advani, Vice Chairman & Managing Director of Blue Star said, “The business environment has been quite challenging and we are thankful to the NCD investors for reposing trust and confidence in Blue Star despite uncertain times. The NCD funds will infuse sufficient liquidity into the Company and will also provide resilience and necessary financial strength to our Balance Sheet over the long term. We expect that as the Government permits economic activities to resume, consumer demand will revive in due course. It is, therefore, important for us to remain prepared with adequate funding to execute our growth strategy.”

Place: Mumbai Date: June 1, 2020.

For additional information, please contact: R S Priya, General Manager-Corporate Communications & Marketing Services, Blue Star Limited. Email: rspriya@bluestarindia.com Telephone: +91 44 43444009/ +91 98401 99941