Cipla Ltd. — Capital/Financing Update 2019

May 23, 2019

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Cipla	Cipla	Cipla
Annexure-I
Sr.**No. **a)	Particulars	Details
	Nameofthe target entity, detailsinbriefsuchassize,turnover etc.;	AMPSolar PowerSystemsPrivate Limited ("AMPSolar")isa wholly owned subsidiaryofAMPSolar TechnologyPrivate Limited ("AMP") andisaSpecialPurpose Vehicleformedforpurposeofsetting up captive solar powerprojectinMaharashtra.Turnoverofthe Companyas on3PtMarch2019is NIL.
b)	Whether the acquisition would fallwithin related party transaction(s)andwhetherthepromoter/promotergroup/groupcompanies haveanyinterest inthe entity being acquired?Ifyes,natureofinterest and detailsthereof and whether thesameisdone at"arm's length";	Acquisition doesn't fall within the purviewofrelatedparty transactions.
c)	Industrytowhich the entity beingacquired belongs;	Generationandtransmissionofsolar energyandothersourcesofrenewable energy.
d)	Objectsandeffectsofacquisition(including but not limited to,disclosureofreasonsforacquisitionoftarget entity,ifitsbusinessisoutside the main lineofbusinessofthe listed entity);	Inline with Cipla's commitmenttoenhance theproportionofrenewable(solar)basedpowerconsumptionandtocomplywithregulatoryrequirementforcaptive power consumption underelectricity laws,Ciplawill acquireandmaintain26%stakeona fully dilutedbasisin AMPSolar throughoutthe termofthe Power Purchase Agreement,SharePurchase, Subscription andShareHolders Agreementandother transaction documents.PostAcquisition, AMPSolar will becomeanassociateofCiplaLimited.
e)	Brief detailsofany governmentalor regulatory approvals requiredfor the acquisition;	Not Applicable
f)	Indicativetime-periodforcompletionofthe acquisition;	Sharepurchase- 12thJune2019.Subscriptionofequity sharesandcompulsorilyconvertible debentures in oneormore tranches uptothe actual commercial operation date whichistentatively 30thMay 2020.
g)	Natureofconsideration - whethercashconsiderationorshare swapanddetailsofthe same;	CashconsiderationJ

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h)	Costofacquisition or the price atwhich the shares are acquired	UptoRs.12,90,00,000(IndianRupeestwelve croreandninety lakh)foracquisitionof26%stakeona fullydilutedbasisinone or more tranches.
i)	Percentageofshareholding_I_control acquiredand_I_ornumberofsharesacquired;	(i)Share Purchase-2600(two thousandsixhundred) equity sharesofface valueRs.10(IndianRupeesten only) constituting tobe26%ofthe paid-up capital upon first stage closing.(ii)Subscriptionofequity- upto1,26,400(one lakhtwenty-six thousandfourhundred) equitysharesofface valueRs.10(IndianRupeesten only) atparinoneormore tranchesonor before theactual commercial operation date whichistentatively30thMay2020.(iii)SubscriptionofCompulsorilyConvertibleDebentures(CCDS}- upto1,27,710(one lakhtwentyseventhousand seven hundredandten)compulsorily convertible debenturesoffacevalueRs.1000(IndianRupeesone thousand only)eachinoneormore tranchesonor before theactual commercial operation date whichistentatively30thMay2020.Provided that Cipla's stakeinAMPSolarisalways26%ona fullydilutedbasis.
j)	Brief background about the entity AMPSolarwasincorporated on7thFebruary,2019inacquiredintermsofproducts/lineIndiaandwillbeengaged in businessofgenerating,ofbusiness acquired, dateofproducing, accumulating, storing, improving, buying,incorporation, historyoflast 3 selling,reselling,transmitting,distributingandyears' turnover, countryinwhichsupplying electrical power generated using solar energythe acquired entityhaspresenceandother sourcesofrenewable energyanddevelopingandanyothersignificant infrastructure projectsbasedonsolar energy.information (in brief)Sincethe companyisrecently incorporated,ithasnoturnoverason date.

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