Elgi Equipments Ltd. — Capital/Financing Update 2021

Sep 17, 2021

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National Stock Exchange of lndia Ltd. Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E) Mumbai - 400 051

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

Scrip Code : ELGIEQUIP

Scrip Code : 522074

Through : NEAPS Dear Sir/Madam,

Through : BSE Listing Centre

Sub: Intimation of incorporation of wholly owned subsidiary under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Company has formed a wholly owned subsidiary company in the name “ELGI COMPRESSORS (M) SDN. BHD.” in Malaysia, and invested an amount of 10,00,000 MYR in the share capital of ELGI COMPRESSORS (M) SDN. BHD on September 17, 2021.

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 September 9, 2015, is given in Annexure.

For Elgi Equipments Limited

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S Prakash Company Secretary Encl.: a/a

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Annexure

Annexure
Name of the Company details in brief such assize, turnover etc.,	Name**:**ELGI COMPRESSORS (M) SDN. BHD (“ECMSB”)Authorised and Paid up Share capital : 10,00,000 MYRdivided into 10,000 ordinary shares of MYR 100/- each.Turnover: NIL
Whether the acquisition would fall withinrelated party transactions and whether thepromoter / promoter group / group companieshave anyinterest in the entitybeingacquired	Not Applicable
Industry to which the entity being acquiredbelongs	Air Compressors
Objects and effects of acquisition (including butnot limited to, disclosure of reasons foracquisition of target entity, if its business isoutside the main line of business of the listedentity)	ECMSB is incorporated to undertake the business of sale,buy, repair, service, let out on hire, import, export anddeal in all types of air compressors, spare parts, fittingsand accessories in Malaysia.
Brief details of any governmental or regulatoryapprovals required for the acquisition	Filing of charter documents/bye laws, Registration of thebeneficial owners and VAT Registration.
Indicative time period for completion of theacquisition	Not Applicable
Nature of consideration –whether cashconsideration or share swap and details of thesame	Cash
Cost of acquisition or the price at which theshares are acquired	10,00,000 MYR
Percentage of shareholding / control acquiredand / or number of shares acquired	100%
Brief background about the entity acquired interms of products/line of business acquired,date of incorporation, history of last 3 yearsturnover, country in which the acquired entityhas presence and any other significantinformation	ECMSB is incorporated to undertake the business of sale,buy, repair, service, let out on hire, import, export and dealin all types of air compressors, spare parts, fittings andaccessories in Malaysia. ECMSB is yet to commenceoperations.

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