Ceat Ltd. — Capital/Financing Update 2021

Sep 13, 2021

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September 13, 2021

National Stock Exchange of India Limited

BSE Limited

Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai 400 001 Mumbai 400 051 Security Code: 500878 Symbol: CEATLTD

Symbol: CEATLTD NCD symbol: CL23, CL25

CP Listed ISIN: INE482A14AI8, INE482A14AJ6 INE482A14AK4, INE482A14AL2, INE482A14AM0 INE482A14AN8

Sub: Disclosure under Regulation 30 – Investment in Limited Liability Partnership

Dear Sir/Madam,

Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we hereby inform you that the Company has signed Limited Liability Partnership (“LLP”) Agreement with Harshvardhan Ravi Goenka and Yellowstone Clean Energy LLP, for making an investment of upto Rs. 60 lakhs (Rupees Sixty lakhs only), in one or more tranches in Cleanwin Energy Five LLP, on such terms and conditions as prescribed therein to acquire 26% of the capital of the LLP.

Details required as per SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are enclosed as an Annexure to this disclosure.

We request you to kindly take the above on record.

Thanking you,

Yours faithfully,

For CEAT Limited

Vallari Gupte Company Secretary

Encl. A/a

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Annexure

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Name of the target entity, details in brief such as size, turnover etc.	Cleanwin Energy Five LLP (“Cleanwin”), is promoted as a special purpose vehicle, solely to undertake the business of generation of renewable energy from conventional and non- conventional sources of energy and to supply such electricity on captive basis to the Company. The Company proposes to make investment of amount up to Rs. 60 lakhs (Rupees Sixty lakhs only) in one or more tranches, in accordance with the terms of Limited Liability Partnership Agreement(LLP Agreement).
Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	Cleanwin is not a related party of the Company, and hence becoming a partner of Cleanwin does not fall within the category of related party transaction. Promoter/ promoter group/ group companies do not have any interest in Cleanwin.
Industry to which the entity being acquired belongs	Captive power generation projects and development of renewable energy.
Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	The Company has entered into a Power Delivery Agreement with Cleanwin, who is in the business of owning, operating and maintenance of the Captive Power Generating Plant and supply of electricity. In line with the statutory requirements to avail such power / electricity for captive usage, the Company is required to become a partner of Cleanwin with 26% share.
Brief details of any governmental or regulatory approvals required for the acquisition	Not applicable
Indicative time for completion of the acquisition	September 2021
Nature of consideration - whether cash consideration or share swap and details of the same;	Cash Consideration
Cost of acquisition or the price at which the shares are acquired	Up to Rs. 60 lakhs (Rupees Sixty lakhs only), in one or more tranches

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Percentage of shareholding / control acquired and / or number of shares acquired		26% share in Limited Liability Partnership of Cleanwin, in accordance with the terms and conditions specified under the LLP Agreement.
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)		Cleanwin Energy Five LLP (“Cleanwin”), is a Limited Liability Partnership created on 16th September 2020, having LLP Identification No. AAT-8567. The registered office of Cleanwin is situated in Mumbai. Cleanwin is inter alia, engaged in the business of generation of renewable energy from conventional and non-conventional sources of energy and supplying such energy. Turnover: Not applicable since the entity is formed in 2020.

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