Ester Industries Ltd. — Major Shareholding Notification 2021

Apr 15, 2021

MOVI LIMITED

Floreal Road, No.71, Curepipe, Mauritius _____________________________________________________________________________________

Date 14 April 2021

To	To	To
BSE Limited	National Stock Exchange of	Ester Industries Limited
DepartmentofCorporate	India Ltd.	Sohan Nagar, P. O. Charubeta,
Services,PhirojeeJeejeebhoy	Exchange Plaza, Plot no. C/1, G	Khatima-262308,
Towers, Dalal Street,	Block,Bandra-Kurla Complex	Distt.UdhamSinghNagar,
Mumbai –400 023	Bandra (E), Mumbai -400 051	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 sale of 21,00,000 Equity Shares of Ester Industries Limited (Target Company) to Wilemina Finance Corp. (Acquirer) as inter-se transfer between Promoters through off-market transaction.

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

This is for your information and record.

Regards

For MOVI Limited

Mr Ashvin Mawven Authorised Signatory Place – Mauritius Date – 14/04/2021

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

Name oftheTargetCompany(TC)	Ester Industries Limited
Name(s)oftheacquirerand PersonsActingin Concert(PAC) withthe acquirer	M/s Wilemina Finance Corp.Persons acting in Concert (PAC)
	M/s. MOVILimited
	Mr. Arvind SinghaniaMr. Jai Vardhan Singhania
	Mr. Ayush Vardhan Singhania
	Mrs. Uma Devi Singhania
	M/s. Fenton Investments Private Limited
Whetherthe acquirerbelongs toPromoter/Promotergroup	Yes
Name(s)ofthe StockExchange(s)where	National Stock Exchangeof India Ltd.
thesharesofTCare Listed	BSELimited
Details ofthe acquisition / disposalas	Number	%w.r.t.total	%w.r.t. total
follows		share/voting	diluted
		capital	share/voting
		wherever	capitalofthe
Beforetheacquisitionunder consideration,		applicable(*)	TC (**)
holding of:(Acquirer and PAC)
a)Shares carryingvotingrights	53408203	64.04	64.04
b)Shares in the nature of	_	--	--
encumbrance (pledge/ lien/non
disposalundertaking/others)
c)Votingrights (VR)otherwise than by	--	--	--
sharesd)	--	--	--
Warrants/convertiblesecurities/anyotherinstrument thatentitlesthe
acquirertoreceivesharescarrying
voting rights in the TC (specify
holding in eachcategory)
e)Total(a+b+c+d)	53408203	64.04	64.04
Details ofacquisition/sale
a)Shares carryingvotingrights	As per annexure	As per annexure	As per annexure
acquired/soldb)VRs acquired/soldotherwise than by	--	--	--
shares
c)Warrants/convertible	--	--	--
securities/any other instrument
that entitles the acquirer to
receive shares carrying
voting rights in the TC (specifyholding in each category)
acquired/sold
d)Shares encumbered /	--	--	--

invoked/released bytheacquirere)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	53408203	64.04	64.04
b)Shares encumbered with the acquirer	--	--	--
c)VRs otherwise than by shares	--	--	--
d)Warrants/convertible securities/anyother instrument that entitles theacquirer to receive shares carryingvoting rightsin the TC (specifyholdingineach category) afteracquisition	--	--	--
e)Total (a+b+c+d)	53408203	64.04	64.04
Modeofacquisition/sale(e.g.openmarket/off-market/ publicissue/rightsissue/preferentialallotment/inter-setransferetc).	Inter-se transfer between promoters
Dateofacquisition/saleofshares/VRordateofreceiptof intimation ofallotmentofshares, whicheveris applicable	10th April, 2021
Equitysharecapital/totalvotingcapitaloftheTCbeforethe saidacquisition/sale	83393759Equity Shares of Rs. 5 each aggregatingto Rs. 41,69,68,795/-
Equitysharecapital/totalvotingcapitaloftheTCafterthe saidacquisition/sale	83393759 Equity Shares of Rs. 5 each aggregatingto Rs. 41,69,68,795/-
Total diluted share/voting capital of theTC after the said acquisition	83393759 Equity Shares of Rs. 5 each aggregatingto 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.

For Wilemina Finance Corp.

Mr Ashvin Mawven Authorised Signatory Place : Mauritius Date: 14 April 2021

Annexure

Details of Shareholding of Acquirer and Person Acting in Concert (Pre & Post Acquisition)

Name of Acquirer andPACs	Pre-acquisitionShareholding alongwith % of Sharesw.r.ttotalsharecapital	Acquisition along with% of Shares w.r.t totalshare capital	Post-acquisitionShareholdingalong with % ofShares 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.	46355012(55.58%)	2100000 (acquisition)(2.52%)	48455012(58.10%)
M/s. MOVI Limited	6260000(7.51%)	(2100000) (sale)(2.52%)	4160000(4.99%)
M/s Fenton Investments PrivateLimited	490000(0.59%)	--	490000(0.59%)
TOTAL	53408203(64.04%)	--	53408203(64.04%)

For Wilemina Finance Corp.

Authorised Signatory

Place : Date: