Ester Industries Ltd. — Major Shareholding Notification 2021

Apr 22, 2021

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

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 oftheTargetCompany(TC)	Ester Industries Limited
Name(s)oftheacquirerand Persons Actingin Concert(PAC) withthe acquirer		Mr. Jai Vardhan Singhania
	M/s. MOVI	Persons acting in Concert (PAC)M/s Wilemina Finance Corp.LimitedMr. Arvind SinghaniaMr. Ayush Vardhan SinghaniaMrs. Uma Devi SinghaniaM/s. Fenton Investments Private Limited
Whetherthe acquirerbelongs toPromoter/Promotergroup	Yes
Name(s)ofthe StockExchange(s)wherethesharesofTCare Listed	BSELimited	National Stock Exchangeof India Ltd.
Details ofthe acquisition / disposal asfollows	Number	%w.r.t.totalshare/votingcapitalwhereverapplicable(*)	%w.r.t. totaldilutedshare/votingcapitaloftheTC (**)
Beforetheacquisitionunder consideration,
holding of:(Acquirer and PAC)
a)Shares carryingvotingrights	53408203	64.04	64.04
b)Shares in the nature ofencumbrance (pledge/ lien/ nondisposalundertaking/others)	_	--	--
c)Votingrights (VR)otherwise than byshares	--	--	--
d)Warrants/convertiblesecurities/anyotherinstrument thatentitlestheacquirertoreceivesharescarryingvotingrightsintheTC(specifyholding in each category)	--	--	--
e)Total(a+b+c+d)	53408203	64.04	64.04
Details ofacquisition/sale
a)Shares carryingvotingrightsacquired/sold	As per annexure	As per annexure	As per annexure
b)VRs acquired/soldotherwise than byshares	--	--	--
c)Warrants/convertible securities/anyother instrument that entitles theacquirer to receive shares carryingvoting rights in the TC (specify	--	--	--

holding in each category)acquired/sold
d)Shares encumbered /
invoked/released bytheacquirer	--	--	--
e)Total(a+b+c+/-d)
	As per annexure	As per annexure	As per annexure
After theacquisition/sale, holding of:(Acquirer
and PAC)
a)Shares carrying voting rights	53408203	64.04	64.04
b)Shares encumbered with the acquirer	--	--	--
c)VRs otherwise than by shares	--	--	--
d)Warrants/convertiblesecurities/any	--	--	--
other instrument that entitles the
acquirer to receive shares carrying
voting rightsin the TC (specify
holdingineach category) after
acquisition
e)Total (a+b+c+d)	53408203	64.04	64.04
Modeofacquisition/sale(e.g.openmarket	As per Annexure
/off-market/ publicissue/rightsissue/
preferentialallotment/inter-se transferetc).
Dateofacquisition/saleofshares/VRor
dateofreceiptof intimation ofallotmentof	20th April, 2021
shares, whicheveris applicable
Equitysharecapital/totalvotingcapitalof	83393759Equity Shares of Rs. 5 eachaggregating to Rs. 41,69,68,795/-
theTCbeforethe saidacquisition/sale
Equitysharecapital/totalvotingcapitalof	83393759 Equity Shares	of Rs. 5 each
theTCafterthe saidacquisition/sale	aggregating to Rs. 41,69,68,795/-
83393759 Equity Shares of Rs. 5 eachTotal diluted share/voting capital of the
TC after the said acquisition	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.

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 andPACs	Pre-acquisitionShareholdingalong with % ofSharesw.r.ttotalsharecapital	Acquisition along with% of Shares w.r.t totalshare capital	Post-acquisitionShareholding along with% of Shares w.r.t totalshare 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 PrivateLimited	490000(0.59%)	--	490000(0.59%)
TOTAL	53408203(64.04%)	--	53408203(64.04%)

Jai Vardhan Singhania

Place – Dubai Date – 22/04/2021