Ceat Ltd. — Capital/Financing Update 2021

Jun 19, 2021

June 19, 2021

BSE Limited Phiroze Jeejeebhoy Towers,Dalal Street, Mumbai 400 001 Security Code: 500878

National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Symbol: CEATLTD NCD Symbol: CL23, CL25 CP Listed ISIN: INE482A14AD9, INE482A14AE7, INE482A14AF4, INE482A14AG2, INE482A14AH0

Dear Sir/Madam,

Sub: Disclosure under Reg. 30 - Subscription to Shares

Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has signed Share Purchase Agreement ("SPA") and Shareholders' Agreement ("SHA") with TP Akkalkot Renewable Limited (TP Akkalkot) and The Tata Power Company Limited (Tata Power), for subscribing to 26% of total equity share capital of TP Akkalkot, for a value not exceeding Rs. 5 Crores.

Details required as per Circular CIR/CFD/CMD/4/2015 dated September 9, 2015 are enclosed as Annexure to this disclosure.

Thanking You,

Yours faithfully, For CEAT LIMITED

Vallari Gupte Company Secretary & Compliance Officer

Encl. A/a

Annexure

Name of the target entity, details in brief	TPAkkalkotRenewableLimited("TP
such as size, turnover etc.	Akkalkot"), is promoted as a special purpose
	vehicle, solely to undertake the business of
	construction, operation and maintenance of the
	Captive Power Generating Plant and to supply, on
	captive basis, the power generated from the
	Captive Power Generating Plant to the Company.
	The Company proposes to make investment of
	amount up to Rs. 5 Crores (Rupees Five Crores
	only) in one or more tranches, in accordance with
	thetermsandSharePurchaseAgreement("SPA") and Shareholders' Agreement ("SHA").
Whether the acquisition would fall within	TP Akkalkotis not a related party of the
related party transaction(s) and whether	Company, and hence acquisition of shares of TP
the promoter/ promoter group/ group	Akkalkotdoes not fall within the category of
companies have any interest in the entity	related party transaction.
being acquired? If yes, nature of interest
and details thereof and whether the same	Promoter/ promoter group/ group companies do
is done at "arm's length"	not have any interest in TP Akkalkot.
Industry to which the entity being acquired	Captivepowergenerationprojectsand
belongs	development of renewable energy.
Objectsandeffectsofacquisition	The Company has entered into a Power Delivery
(including but not limited to, disclosure of	Agreement with TP Akkalkot, who is in the
reasons for acquisition of target entity, ifits business is outside the main line of	business of owning, operating and maintenanceof the Captive Power Generating Plant and supply
business of the listed entity)	ofelectricity.Inlinewiththestatutory
	requirements to avail such power / electricity for
	captive usage, the Companyis required to
	subscribe to the equity share capital of TP
	Akkalkot.
Briefdetailsofanygovernmentalor	Not applicable
regulatoryapprovalsrequiredforthe
acquisition
Indicative time for completion of the	July 2021
acquisition
Nature of consideration -whether cash	Cash Consideration
consideration or share swap and details of
the same;
Cost of acquisition or the price at which the	Up to Rs. 5 Crores (Rupees Five Crores), in one
shares are acquired	or more tranches

Percentage of shareholding /controlacquired and / or number of sharesacquired	26% of the equity share capital of TP Akkalkot,in accordance with the terms and conditionsspecified under the SPA & SHA.
Brief background about the entity acquiredin terms of products/line of businessacquired, date of incorporation, history oflast 3 years turnover, country in which theacquired entity has presence and any other	TP Akkalkot Renewable Limited ("TP Akkalkot"),is a public limited company incorporated onAugust 11, 2020, under Companies Act, 2013.The registered office of TP Akkalkot is situated inMumbai.
significant information (in brief)	TP Akkalkot is inter alia , engaged in the businessof owning, operating and maintenance of theCaptive Power Generating Plant and supply ofelectricity.Turnover: Not applicable since incorporated in2020.