Borosil Limited — Capital/Financing Update 2024

Jun 24, 2024

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June 24, 2024

	BSE Limited	National Stock Exchange of India Limited Exchange Plaza, C-1, Block - G, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 Symbol: BOROLTD
	Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Scrip Code: 543212

Ref: Qualified institutions placement of equity shares of face value of ₹ 1 each (the “Equity Shares”) to qualified institutional buyers by Borosil Limited (the “Company”) under the provisions of Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”), and Sections 42 and 62 of the Companies Act, 2013 (including the rules made thereunder), each as amended (the “Issue”)

Sub: Outcome of the meeting of Management Committee of the Board

Dear Sirs,

We wish to inform that pursuant to the approval accorded by the Board of Directors of the Company at their meeting held on January 24, 2024 and special resolution passed by the Shareholders of the Company at the Extra-ordinary General Meeting held on February 20, 2024, the Management Committee of the Board has at its meeting held today, i.e., June 24, 2024, inter-alia , considered the following:

1. Approved and authorised the opening of the Issue today, i.e. June 24, 2024;

2. Approved and adopted the preliminary placement document dated June 24, 2024 and the application form in connection with the Issue; and

3. Approved the floor price for the Issue, being Rs. 331.75 per equity share (“Floor Price”) based on the pricing formula as prescribed under SEBI ICDR Regulations.

We further wish to inform you that the Management Committee has fixed the ‘Relevant Date’ for the purpose of the Issue, in terms of Regulation 171(b) of the SEBI ICDR Regulations, as June 24, 2024, and accordingly the Floor Price in respect of the Issue based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs. 331.75 per Equity Share.

Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and in accordance with the approval of the shareholders of the Company accorded through a special resolution on February 20, 2024, the Company at its discretion may offer a discount of not more than 5% on the Floor Price so calculated for the Issue. The Issue price will be determined by the Company in consultation with the lead manager appointed for the Issue.

In this relation, we will file the preliminary placement document dated June 24, 2024 with BSE Limited and National Stock Exchange of India Limited today.

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The meeting of the Management Committee commenced at 05:20 p.m. and concluded at 05:35 p.m.

Further, as per the Company’s Code of Conduct to regulate, monitor and report trading by Designated Persons for Prevention of Insider Trading (“Code”), the trading window for dealing in the securities of the Company continues to remain closed for Designated Persons (including their immediate relatives) /Connected persons until 48 hours after determination of the Issue Price.

We request you to take the above on record and the same be treated as compliance under the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Thanking you.

For Borosil Limited

Digitally signed ANSHU by ANSHU ARVIND ARVIND AGARWAL AGARWAL Date: 2024.06.24 17:40:19 +05'30'

Anshu Agarwal Company Secretary & Compliance Officer FCS – 9921