Blue Star Ltd — Capital/Financing Update 2021

May 18, 2021

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May 18, 2021

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

Dear Sir/Madam,

Sub: Incorporation of a Wholly Owned Subsidiary Company

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) we hereby inform that the Company has incorporated a Wholly Owned Subsidiary Company named “BLUE STAR CLIMATECH LIMITED” on May 17, 2021.

The details as required under Regulation 30 of the Listing Regulations read with SEBI circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is attached herewith as Annexure.

The aforesaid information is being made available on the Company’s website i.e. www.bluestarindia.com

Kindly take the same on record.

Thanking you, Yours faithfully, For Blue Star Limited Vijay Devadiga Company Secretary

Encl.: a/a

Z:(01) Blue Star Limited\2020-21\Stock Exchange Compliances\Regulation 30 -Information and Updates\18.05.2021

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Annexure

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Sr No Particulars Description
1 Name of the Target Company, Blue Star Climatech Limited is incorporated as
details in brief such as size, a wholly owned subsidiary of the Company on
turnover, etc. May 17, 2021.
Authorised Capital : Rs 5,00,00,000
Size/Turnover : Not applicable (yet to
commence business operations)
2 Whether the acquisition would fall Blue Star Climatech Limited is promoted by
within related party transaction(s) Blue Star Limited (the ‘Company’) and being a
and whether the promoter/ Wholly Owned Subsidiary, is a related party of
promoter group/ group companies the Company.
have any interest in the entity
being acquired? If yes, nature of The promoter / promoter group / group
interest and details thereof and companies are not interested in the
whether the same is done at “arms transaction.
length”
3 Industry to which the entity being Manufacturing and dealing in all kinds of
acquired belongs residential and commercial air conditioners,
refrigerators, cooling appliances and other
related electrical machinery.
4 Objects and effects of acquisition The Wholly Owned Subsidiary is incorporated
(including but not limited to, to carry on the business as manufacturers and
disclosure of reasons for dealers in all kinds of residential and
acquisition of target entity, if its commercial air conditioners, refrigerators,
business is outside the main line of cooling appliances and other related electrical
business of the listed entity) machinery.
The business of Wholly owned subsidiary is in
line with the main line of business of the
Company.
5 Brief details of any governmental Not applicable
or regulatory approvals required
for the acquisition
6 Indicative time period for Not applicable
completion 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 The Company has subscribed to 30,00,000
which the shares are acquired Equity Shares of Rs 10 each aggregating to Rs
3,00,00,000.
9 Percentage of shareholding / 100%
control acquired and/ or number of
shares acquired
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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)	Product / line of Business: Manufacture / Sale /dealer of air conditioners, refrigerators, cooling appliances and other related electrical machinery. Date of Incorporation : May 17, 2021 History / Turnover – Not applicable Blue Star Climatech is incorporated in India and is yet to commence its business operations.

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