Blue Star Ltd — Capital/Financing Update 2023

Feb 20, 2023

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February 20, 2023

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

Dear Sir/Madam,

Sub: Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘ ’ - Listing Regulations ) Incorporation of a Wholly Owned Subsidiary

Pursuant to Regulation 30 of the Listing Regulations read with Part A of Schedule Ill of the Listing Regulations, we hereby inform you that the Company has incorporated a Wholly Owned Subsidiary Company named “Blue Star Innovation Japan LLC”, in Japan.

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, are enclosed herewith as ‘ Annexure – I ’.

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

Kindly take the same on record.

Thanking you, Yours faithfully, For Blue Star Limited

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RAJESH DIGAMBAR PARTE Digitally signed by RAJESH DIGAMBAR PARTE DN: c=IN, postalCode=400037, st=MAHARASHTRA, l=MUMBAI, o=Personal, serialNumber=f61ea3be0521495570c9c7936a63d125c2a0069839e393780a58fc3b33921632, pseudonym=146d1bcb488b49b2b9a8e13a042354d4, 2.5.4.20=34b7ed256fda6cfc6a2105278ca9562b264314f4c73a57abf2a2f7ffe1e67c1b, email=RAJESH.PARTE13@GMAIL.COM, cn=RAJESH DIGAMBAR PARTE Date: 2023.02.20 18:48:46 +05'30'

Rajesh Parte Company Secretary & Compliance Officer Encl.: a/a

\172.16.31.16\Legal and Secretarial Documents(01) Blue Star Limited\2022-23\Stock Exchange Compliances\Reg 30 Information and Update\Incorporation of subsidiary

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Annexure - I

Details required under the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015

Incorporation of a Wholly Owned Subsidiary Company named “Blue Star Innovation Japan LLC” on February 20, 2023.

Sr. No.	Particulars		Description
1	Name of the Target Company,		Blue Star Innovation Japan LLC is
	details in brief such as size,		incorporatedasaWhollyOwned
	turnover, etc.		Subsidiary of the Company on February
			20, 2023.
			Size/Turnover: Not applicable (yet to
			commence operations)
2	Whether the acquisition would	fall	Blue Star Innovation Japan LLC is
	within related party transaction(s)		promoted by Blue Star Limited	(the
	andwhether	the	‘Company’) and being a Wholly Owned
	promoter/promoter group/ group		Subsidiary, is a related party of	the
	companies have any interest in		Company.
	the entity being acquired? If yes,
	nature of interest and details		Thepromoter/promotergroup/group
	thereof and whether the same is		companies are not interested in	the
	done at “arms length”		transaction.
3	Industry to which the entity being		ResearchandDevelopment	of
	acquired belongs		refrigeration cycles, control algorithms,
			and control boards for residential	and
			commercial air conditioners and cold/hot
			water chillers.
4	Objects and effects of acquisition		ResearchandDevelopment	of
	(including but not limited	to,	refrigeration cycles, control algorithms,
	disclosureofreasons	for	and control boards for residential	and
	acquisition of target entity, if	its	commercialairconditioners	and
	business is outside the main line		cold/hot water chillers;
	of business of the listed entity)
			OperationoftheResearch	and
			Development centre related to	the
			preceding item;
			Any business incidental or related to
			theprecedingitem.

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5	Brief details of any governmentalor regulatory approvals requiredforthe acquisition	Not Applicable
6	Indicativetimeperiodforcompletion of the acquisition	Not Applicable
7	Nature of consideration – whethercash consideration or share swapand details of the same	Cash consideration
8	Cost of acquisition or the price atwhich the shares are acquired	Proposed Initial investment uptoJPY40million.
9	Percentage of shareholding/control acquired and/or number ofshares acquired	100%
10	Brief background about the entityacquired in terms of products/lineof business acquired, date ofincorporation, history of last 3years turnover, country in whichthe acquired entity has presenceandanyothersignificantinformation (in brief)	Product/line of Business: Research andDevelopment of refrigeration cycles,control algorithms, and control boards forresidentialandcommercialairconditioners and cold/hot water chillers.Date of Incorporation: February 20, 2023History/Turnover – Not ApplicableBlue Star Innovation Japan LLC isincorporated in Japan and is yet tocommence its operations.

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