Ester Industries Ltd. — Major Shareholding Notification 2021

Apr 22, 2021

To BSE Limited Department of Corporate Services, Phirojee Jeejeebhoy Towers, Dalal Street, Mumbai – 400 023	To National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex Bandra (E), Mumbai - 400 051	To Ester Industries Limited Sohan Nagar, P. O. Charubeta, Khatima- 262308, Distt. Udham Singh Nagar, Uttarakhand

Dear Sir

Sub – Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011

Target Company – ESTER INDUSTRIES LIMITED

Please find enclosed Disclosure pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for acquisition of indirect control over 4.99% Equity Shares of Target Company.

After this transaction, there is no change in aggregate shareholding of Promoters/Promoters group.

This is for your information and record.

Regards

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Jai Vardhan Singhania

Place – Dubai Date – 22/04/2021

Disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Name of the Target Company (TC)	Ester Industries Limited	Ester Industries Limited	Ester Industries Limited
Name(s) of the acquirer and Persons Acting in Concert (PAC) with the acquirer	Mr. Jai Vardhan Singhania Persons acting in Concert (PAC) M/s Wilemina Finance Corp. M/s. MOVI Limited Mr. Arvind Singhania Mr. Ayush Vardhan Singhania Mrs. Uma Devi Singhania M/s. Fenton Investments PrivateLimited
Whether the acquirer belongs to Promoter/Promotergroup	Yes
Name(s) of the Stock Exchange(s) where the shares of TC areListed	National Stock Exchange of India Ltd. BSE Limited
Detailsofthe acquisition / disposal as follows	Number	% w.r.t. total share/voting capital wherever applicable(*)	% w.r.t. total diluted share/voting capital of the TC(**)
Before the acquisition under consideration, holding of : (Acquirer and PAC) a) Shares carrying voting rights b) Shares in the nature of encumbrance (pledge/ lien/ non- disposal undertaking/ others) c) Voting rights (VR) otherwise than by shares d) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) e) Total(a+b+c+d)	53408203 _ -- -- 53408203	64.04 -- -- -- 64.04	64.04 -- -- -- 64.04
Details of acquisition/sale a) Shares carrying voting rights acquired/sold b) VRs acquired /sold otherwise than by shares c) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying votingrights in the TC(specify	As per annexure -- --	As per annexure -- --	As per annexure -- --

holding in each category) acquired/sold d) Shares encumbered / invoked/released by the acquirer e) Total (a+b+c+/-d)	-- As per annexure	-- As per annexure	-- As per annexure
After the acquisition/sale, holding of: (Acquirer and PAC) a) Shares carrying voting rights b) Shares encumbered with the acquirer c) VRs otherwise than by shares d) Warrants/convertible securities/any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) after acquisition e) Total (a+b+c+d)	53408203 -- -- -- 53408203	64.04 -- -- -- 64.04	64.04 -- -- -- 64.04
Mode of acquisition / sale (e.g. open market / off-market / public issue / rights issue / preferential allotment/inter-se transfer etc).	As per Annexure
Date of acquisition / sale of shares / VR or date of receipt of intimation of allotment of shares, whichever is applicable	20thApril, 2021
Equity share capital / total voting capital of the TC before the said acquisition / sale	83393759 Equity Shares of Rs. 5 each aggregating to Rs. 41,69,68,795/-
Equity share capital/ total voting capital of the TC after the said acquisition / sale	83393759 Equity Shares of Rs. 5 each aggregating to Rs. 41,69,68,795/-
Total diluted share/voting capital of the TC after the said acquisition	83393759 Equity Shares of Rs. 5 each aggregating to Rs. 41,69,68,795/-

(*) Total share capital/ voting capital to be taken as per the latest filing done by the company to the Stock Exchange under Clause 35 of the listing Agreement.

(**) Diluted share/voting capital means the total number of shares in the TC assuming full conversion of the outstanding convertible securities/warrants into equity shares of the TC.

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Jai Vardhan Singhania

Place : Dubai Date: 22/04/2021

Annexure

Ester Industries Limited (TC) is a listed Public limited company incorporated under the Companies Act, 1956. Movi Limited is Promoter Group Company of TC and holds 41,60,000 Equity Shares (4.99%) of TC. Mr. Vinay Kumar Modi holds 100% shares of Movi Limited. Mr. Vinay Kumar Modi has transferred through gift his 100% shareholding in Movi Limited to his daughter’s son Mr. Jai Vardhan Singhania. Pursuant to this transaction, Mr. Jai Vardhan Singhania has acquired 100% shares of Movi Limited and thus indirectly acquired control of 4.99% Equity in TC.

This transaction has no impact in direct shareholding of any Promoter/Promoter Group entity. Details of pre-post transaction shareholding of Promoters/Promoter Group entities are as stated below –

Name of Acquirer and PACs	Pre-acquisition Shareholding along with % of Shares w.r.t total share capital	Acquisition along with % of Shares w.r.t total share capital	Post-acquisition Shareholding along with % of Shares w.r.t total share capital
Mr. Arvind Singhania	150 (--)	-	150 (--)
Mrs. Uma Devi Singhania	150 (--)	--	150 (--)
Mr. Ayush Vardhan Singhania	178033 (0.21%)	--	178033 (0.21%)
Mr. Jai Vardhan Singhania	124858 (0.15%)	--	124858 (0.15%)
M/s. Wilemina Finance Corp.	48455012 (58.10%)	--	48455012 (58.10%)
M/s. MOVI Limited	4160000 (4.99%)	--	4160000 (4.99%)
M/s Fenton Investments Private Limited	490000 (0.59%)	--	490000 (0.59%)
TOTAL	53408203 (64.04%)	--	53408203 (64.04%)

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Jai Vardhan Singhania

Place – Dubai Date – 22/04/2021