Cyient Limited — Capital/Financing Update 2024

Oct 24, 2024

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24 October 2024 BSE Limited PJ Towers, 25[th] Floor, Dalal Street, Mumbai 400001.

National Stock Exchange of India Ltd Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai-400 051.

Dear Sir/Madam,

Sub: Information of a transaction, as required under Regulation 30 of SEBI (LODR) Regulations, 2015:

	Sl. No	Items for disclosure	Items for disclosure	Descrip�on
	1	Brief background of the en�ty acquired in terms of products/line of business acquired, date of incorpora�on, and history of last 3 years turnover, country in which the acquired en�ty has presence and any other signifcant informa�on (in brief);		Name of the target en�ty and year of incorpora�on: Azimuth AI, Inc., incorporated in 2023 Brief Descrip�on: A U.S. based Embedded Silicon Product company developing highly diferen�ated ASICs for Edge Compu�ng Applica�ons Turnover: USD 2.7 Mn in CY25(Projected)
	2	Percentage acquired; of shareholding/ control acquired and/or number of shares acquired;		27.3%
	3	Nature of considera�on-whether cash considera�on or share swap and details of the same;		Cash
	4	Cost of acquisi�on or the price at which the control is acquired;		Purchase considera�on for acquiring the 27.3% stake is USD 7.25 Mn
	5	Indica�ve �me period for comple�on of the investment;		November 30, 2024
	6	Brief details of any governmental or regulatory approvals required for the acquisi�on;		Not applicable
	7	Objects and efects of acquisi�on (including but not limited to disclosure of reasons of acquisi�on of target en�ty, if its business is outside the main line of business of the listed en�ty);		This strategic investment marks a signifcant milestone in Cyient’s Semiconductor journey and aligns perfectly with our strategic growth objec�ves for the sector. While further augmen�ng our turnkey ASIC capabili�es, it also strengthens our presence in the promising Indian semiconductor market.
	8
	Cyient

			Semiconductor – Applica�on Specifc Integrated Chips(ASICs) No Azimuth AI, Inc., founded in 2023, is a fabless custom ASIC company known for its exper�se in Energy and Industrial applica�ons and with focus across global markets including India. Turnover: USD 2.7 Mn in CY25(Projected) The Company will route this investment through its step-down subsidiary_viz._ Cyient Semiconductors Inc, which is a wholly owned subsidiary of Cyient Semiconductors Private Limited.
		Industry to which the en�ty being acquired belongs;	Semiconductor – Applica�on Specifc Integrated Chips(ASICs)
	9	Whether the acquisi�on would fall within related party transac�ons and whether the promoter/promoter group/group companies have any interest in the en�ty being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”;	No
	10	Nature of the target en�ty, details in brief such as size, turnover etc.;	Azimuth AI, Inc., founded in 2023, is a fabless custom ASIC company known for its exper�se in Energy and Industrial applica�ons and with focus across global markets including India. Turnover: USD 2.7 Mn in CY25(Projected)
	11	Any other informa�on	The Company will route this investment through its step-down subsidiary_viz._ Cyient Semiconductors Inc, which is a wholly owned subsidiary of Cyient Semiconductors Private Limited.

Thanking you

For Cyient Limited

Sudheendhra Digitally signed by Sudheendhra Putty Date: 2024.10.24 16:49:18 Putty +05'30' Sudheendhra Putty Company Secretary

Cyient Ltd. 4[th ] Floor, A Wing, 11 Software CIN: L72200TG1991PLC013134 Units Layout, Madhapur www.cyient.com Hyderabad -500 081 Company.secretary@cyient.com India T +91 40 6764 1000 F +91 40 2311 0352