Elgi Equipments Ltd. — Capital/Financing Update 2020

Sep 30, 2020

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BSE LIMITEDPHIROZE JEEJEEBHOY TOWERSDALAL STREETMUMBAI - 400001	NATIONAL STOCK EXCHANGE OFINDIA LIMITED“EXCHANGE PLAZA”BANDRA KURLA COMPLEXBANDRA (E)MUMBAI - 400051
ScripCode: 522074	ScripCode: ELGIEQUIP

Dear Sirs, DATE: 30/09/2020

Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Company’s Wholly Owned Subsidiary in Belgium “Elgi Compressors Europe SRL” has formed a Subsidiary Company in Sweden by name “Elgi Compressors Nordics”.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Elgi Compressors Europe SRL has invested 50,000 SEK (Swedish Krona) in the share capital of Elgi Compressors Nordics, Sweden. The newly formed entity will host the sales force for the Nordic region with an objective of promoting ELGi’s EPSAC (Electric Powered Screw Air Compressors) products.

The disclosures as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9[th] September, 2015, is given in Annexure enclosed.

Kindly acknowledge receipt of this letter and update your records.

Thanking you,

Yours faithfully,

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Annexure

	Annexure
Name of the Company details in briefsuch as size, turnover etc.,Whether the acquisition would fallwithin related party transactions andwhether the promoter / promoter group/ group companies have any interest inthe entitybeingacquiredIndustry to which the entity beingacquired belongsObjects and effects of acquisition(including but not limited to, disclosureof reasons for acquisition of targetentity, if its business is outside the mainline of business of the listed entity)	Name**:**Elgi Compressors NordicsAuthorized & Paid up Share capital: 50,000 SEK(Swedish Krona)Turnover: NILNADistribution & Trading of Compressors.EPSAC Europe (100% owned by ELGi CompressorsEurope SRL)Elgi Compressors Nordics, will host the sales force forthe Nordic region with an objective of promotingELGi’s EPSAC products.
Brief details of any governmental orregulatory approvals required for theacquisition	Filing of Articles of Association and VAT Registration.
Indicative time period for completion ofthe acquisition	NA – Entity formed and share capital investment hasbeen completed on 30/09/2020
Nature of consideration – whether cashconsideration or share swap and detailsof the same	Cash
Cost of acquisition or the price at whichthe shares are acquired	500 shares of 1000 SEK per share. 50,000 SEK
Percentage of shareholding / controlacquired and / or number of sharesacquired	100% held by Elgi Equipments Ltd’s wholly ownedsubsidiary Elgi Compressors Europe SRL.

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Brief background about the entityacquired in terms of products/line ofbusiness acquired, date ofincorporation, history of last 3 yearsturnover, country in which the acquiredentity has presence and any othersignificant information	Trade, import, export, buy and sell at wholesale orretail level, distribution, representation and brokerage,and manufacture, processing and transportation ofrotary and compressors as well as demolitionhammers, hydraulic hammers, any other operating orhandling machinery, machines.Date of formation and investment in share capital –30/09/2020

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