Elgi Equipments Ltd. — Capital/Financing Update 2019

May 24, 2019

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BOMBAY STOCK EXCHANGE LIMITED NATIONAL STOCK EXCHANGE OF PHIROZE JEEJEEBHOY TOWERS INDIA LIMITED DALAL STREET "EXCHANGE PLAZA" MUMBAI - 400001 BANDRA KURLA COMPLEX BANDRA (E) MUMBAI - 400051 Scrip Code: 522074 Scrip Code: ELGIEQUIP E:SEC: 1024 DATE: 24/05/2019

E:SEC: 1024

Dear Sirs

Sub: Intimation of Investment in the capital of Evergreen Compressed Air and Vacuum LLC by Elgi Compressors USA Inc, wholly owned subsidiary of the Company.

This is to inform you that Elgi Compressors USA Inc, a wholly owned subsidiary of the Company, has subscribed and invested in, an extent of $1,34,000, which is 50% of the total capital of, Evergreen Compressed Air and Vacuum LLC, having its registered office at 3217, 44th Ave, SW, Seattle, WA 98116.

The details as required under SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 are given in Annexure-A.

Kindly acknowledge the receipt of this letter and update your records.

Thanking you,

Yours faithfully For ELGI EQIBPMENTS LIMITED

VAIS�M

COMPANY SECRETARY

ELGI EQUIPMENTS LIMITED

Trichy Rood, Singonallur, Coimbatore - 641005, Tamilnadu, India T: +91 422 2589 555, W :www.elgi.com, Toll - free No: 1800-425-3544, CIN: L29120TZ1960PLC000351

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AnnexureA

Name of the Company details in brief such assie, turnover etc.,	Name of the Company details in brief such assie, turnover etc.,	EVERGREEN COMPRESSED AIR AND VACUUM LLCShare capital:$ 268,000Holding Structure:MemberHoldingCapitalType ofpercentage contributionInterestMichael Keim50%$134,000Managing3420 59th AvenueMemberSWSeattle WA 9811ELGi Compressors50%$134,000MemberUSA, Inc.1500-N ContinentalBlvdCharlotte,NC 28217Turnover: NIL
Whether the acquisition would fal witinrelated party transaction and whether thepromoter / promoter group / groupcompanies have any interest in the entity beingacquired		NO.The promoter / promoter group / group companies do not have anyinterest in the equity being acquired.
Industry to which the entity being acquiredbelongs		Distibutor and service provider of Air Compressors and its spares.
Objects and effects of acquisiton (icludingbut not limited to, disclosure of reasons foracquisiton of target entity, if its business isoutside the main line of business of the listedentty)		Evergreen Compressed Air and Vacuum LLC will functon as anexclusive dealer / distibutor for Elgi Compressors USA Inc, (whollyowned subsidiary of Company) for the ELGi rotary screw (oil-floodedor oil-free) compressors. The object of acquiring 50% ownership stakeis for creatng a model distributorship in USA that can be the referencepoint for creatingmore such channel arrangements in USA.
Brief details of any governmental or regulatoryapprovals required for the acquisiton		None23/04/2019
Indicatve tme period for completon of theacquisiton
Nature of consideration - whether cashconsideraton or share swap and details of thesame		Cash
Cost of acquisition or the price at which theshares are acquired		$134,000
Percentage of shareholding / control acquiredand/or number of shares acquired		50%
Brief background- about the entty acquired interms of products/line of business acquired,date of incorporation, history of last 3 yearsturnover, country in whch the acquired entityhas presence and any other signcantinormation		Evergreen Compressed Air and Vacuum LLC was formed as a limitedliability company under the Washington Act, effectve10/22/2018.Evergreen Compressed Air and Vacuum LLC will beManager-Managed, wit Member Michael Keim serving as theManaging Member.

ELGI EQUIPMENTS LIMITED

� VAISH� -1 For ELGI EQUIPMENTS E ffi,��� � COMPANY SECRE1rvtY

' II f T : +91 422 2589 555 W · I ' Trichy Rood, Singonollur, Coimbatore - 641005, Tomilnodu Indio , .www.eQI.com, To - ree No: 1800-425-3544, CIN: L29120TZ1960PLC000351