Elgi Equipments Ltd. — Capital/Financing Update 2023

Mar 3, 2023

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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

Through : NEAPS

Through : BSE Listing Centre

Dear Sir/Madam,

Subject: Intimation of incorporation of wholly owned subsidiary NSE Scrip Code: ELGIEQUIP / BSE Scrip Code: 522074

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has formed a wholly owned subsidiary company in the name “Elgi Compressors Vietnam LLC”, in Vietnam and has received the Enterprise Registration Certificate dated March 1, 2023 on March 3, 2023.

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 enclosed.

Kindly acknowledge receipt of this letter and update your records.

Thanking you,

Yours truly,

For Elgi Equipments Limited

PRAKASH SIVASAM Digitally signed by PRAKASH SIVASAMY Date: 2023.03.03 Y 15:25:43 +05'30'

S Prakash Company Secretary Encl.: a/a

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Annexure

Annexure
Name of the target entity, details in brief such as size, turnover etc.,	Name: “Elgi Compressors Vietnam LLC” Authorised and Paid-up charter capital: VND 621,500,000 equivalent to 25,000 USD. Turnover: Not applicable
Whether the acquisition would fall within related party transactions and whether the promoter / promoter group / group companies have any interest in the entity beingacquired	NA
Industry to which the entity being acquired belongs	Air Compressors
Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	Elgi Compressors Vietnam LLC is incorporated to undertake the business of import, export, wholesaling, distribution, retailing, and providing service on installation, maintenance, and repair of compressors/spares/accessories
Brief details of any governmental or regulatory approvals required for the acquisition	Registering and obtaining Investment Registration Certificate, Enterprise Registration Certificate and engravinga seal of the Company
Indicative time period for completion of the acquisition	Not applicable
Nature of consideration – whether cash consideration or share swap and details of the same	Cash
Cost of acquisition or the price at which the shares are acquired	USD 25,000
Percentage of shareholding / control acquired and / or number of shares acquired	100%
Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)	Elgi Compressors Vietnam LLC is incorporated to undertake the business of import, distribution and retail sale and service of compressors / spares / accessories in all types of air compressors. It is yet to commence operations. Turnover for the last threeyears – Not Applicable

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