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 as sie, turnover etc.,	Name of the Company details in brief such as sie, turnover etc.,	EVERGREEN COMPRESSED AIR AND VACUUM LLC Share capital:$ 268,000 Holding Structure: Member Holding Capital Type of percentage contribution Interest Michael Keim 50% $134,000 Managing 3420 59th Avenue Member SW Seattle WA 9811 ELGi Compressors 50% $134,000 Member USA, Inc. 1500-N Continental Blvd Charlotte,NC 28217 Turnover: NIL
Whether the acquisition would fal witin related party transaction and whether the promoter / promoter group / group companies have any interest in the entity being acquired		NO. The promoter / promoter group / group companies do not have any interest in the equity being acquired.
Industry to which the entity being acquired belongs		Distibutor and service provider of Air Compressors and its spares.
Objects and effects of acquisiton (icluding but not limited to, disclosure of reasons for acquisiton of target entity, if its business is outside the main line of business of the listed entty)		Evergreen Compressed Air and Vacuum LLC will functon as an exclusive dealer / distibutor for Elgi Compressors USA Inc, (wholly owned subsidiary of Company) for the ELGi rotary screw (oil-flooded or oil-free) compressors. The object of acquiring 50% ownership stake is for creatng a model distributorship in USA that can be the reference point for creatingmore such channel arrangements in USA.
Brief details of any governmental or regulatory approvals required for the acquisiton		None 23/04/2019
Indicatve tme period for completon of the acquisiton
Nature of consideration - whether cash consideraton or share swap and details of the same		Cash
Cost of acquisition or the price at which the shares are acquired		$134,000
Percentage of shareholding / control acquired and/or number of shares acquired		50%
Brief background- about the entty acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in whch the acquired entity has presence and any other signcant inormation		Evergreen Compressed Air and Vacuum LLC was formed as a limited liability company under the Washington Act, effectve 10/22/2018.Evergreen Compressed Air and Vacuum LLC will be Manager-Managed, wit Member Michael Keim serving as the Managing 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