Ester Industries Ltd. — Major Shareholding Notification 2022

Oct 19, 2022

MOVI Limited

C/o Nexus Global Financial Services Limited 5 th Floor, The Core Building, No.62, ICT Avenue Ebene, Mauritius

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-262308,
Towers, Dalal Street,	Block, Bandra-Kurla Complex	Distt. Udham Singh Nagar,
Mumbai – 400 023	Bandra (E), Mumbai - 400051	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 6,00,000 Equity Shares of Ester Industries Limited (Target Company) to Wilemina Finance Corp. (Acquirer) as inter-se transfer between Promoters/Promoter Group 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

Parwiz Jugoo Authorised Signatory Place – Mauritius Date – 19th October, 2022

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

Name of the Target Company (TC)	Ester Industries Limited
Name(s) of the acquirer and PersonsActing in Concert (PAC) with the acquirer	M/s MOVI Limited
	Persons acting in Concert (PAC)M/s. Wilemina Finance Corp.Mr. Arvind SinghaniaMr. Jai Vardhan Singhania
	Mr. Ayush Vardhan SinghaniaMrs. Uma Devi SinghaniaM/s. Fenton Investments Private Limited
Whether the acquirer belongs toPromoter/Promoter group	Yes
Name(s) of the Stock Exchange(s) wherethesharesofTCare Listed	National Stock Exchangeof India Ltd.BSE Limited
Details of the acquisition / disposal asfollows	Number	% w.r.t. totalshare/votingcapitalwhereverapplicable(*)	% w.r.t. totaldilutedshare/votingcapital of theTC (**)
Beforetheacquisitionunder consideration,
holding of : (Seller and PAC)
a)Shares carrying voting rights	53408228	64.04	64.04
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 theacquirer to receive shares carrying
voting rights in the TC (specify
holding in each category)
e)Total (a+b+c+d)	53408228	64.04	64.04
Details ofacquisition/sale
a)Shares carrying voting rightsacquired/sold	As per Annexure	As per Annexure	As per Annexure
b)VRs acquired /sold otherwise 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 by the acquirer
e)Total (a+b+c+/-d)	As per Annexure	As per Annexure	As per Annexure
After the acquisition/sale, holding of:(Seller and PAC)
a)Shares carrying voting rightsb)Shares encumbered with the acquirerc)VRs otherwise than by sharesd)Warrants/convertible securities/anyother instrument that entitles theacquirer to receive shares carryingvoting rightsin the TC (specifyholdingineach category) afteracquisitione)Total (a+b+c+d)	53408228------53408228	64.04------64.04	64.04------64.04
Modeofacquisition/sale(e.g.openmarket / off-market / public issue / rightsissue / preferential allotment / inter-setransfer etc).	Off market Inter-se transfer between Promoters/Promoter Group
Date of acquisition / sale of shares / VR ordate of receipt of intimation of allotment ofshares, whicheveris applicable	17th October, 2022
Equity share capital / total voting capital ofthe TC before the said acquisition / sale	83393759 Equity Shares of Rs. 5 each aggregatingto Rs. 41,69,68,795/-
Equity share capital/ total voting capital ofthe TC after the said acquisition / 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 MOVI Limited

Parwiz Jugoo Authorised Signatory Place : Ebene, Mauritius Date: 19 October 2022

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	175(--)	--	175(--)
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%)	600000 (acquisition)(0.72%)	49055012(58.82%)
M/s. MOVI Limited	4160000(4.99%)	(600000) (sale)(0.72%)	3560000(4.27%)
M/s Fenton Investments PrivateLimited	490000(0.59%)	--	490000(0.59%)
TOTAL	53408228(64.04%)	--	53408228(64.04%)

For MOVI Limited

Parwiz Jugoo Authorised Signatory Place : Ebene, Mauritius Date: 19 October 2022