Excell Industries Ltd. — Capital/Financing Update 2023

Feb 10, 2023

IS/ISO9001:2015 IS/ISO14001:2015 IS18001:2007 Certifiedby BIS.

Excel Industries Ltd.

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10[th] February, 2023

BSE Ltd. National Stock Exchange of Listing Department, India Ltd. Pheeroze Jeejeebhoy Towers, Listing Department, Dalal Street, Exchange Plaza, Fort, Mumbai-400 001 Bandra-Kurla Complex, Bandra (E), Mumbai-400 051

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Ref: BSE Scrip Code: 500650; NSE Scrip Code: EXCELINDUS

Dear Sir / Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at its meeting held today has approved the proposal to enter into a Joint Venture agreement with Reliable Infra.

The disclosure as required under Schedule III of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September, 2015 is attached as Annexure I to this letter.

Kindly take this on record.

Thanking you

For Excel Industries Limited

Surendra Digitally signed by Surendra Kumar Kumar Singhvi Date: 2023.02.10 Singhvi 18:55:06 +05'30' S K Singhvi Company Secretary

Annexure: As above

Chemicals Business / Environment & Biotech Division Polymer Inputs / Pharmaceuticals Intermediaries/Veterinary API’s

Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai-400102, Maharashtra, India. CIN: L24200MH1960PLC011807

E: excelmumbai@excelind.com T: 91-22-66464200

F: +91-22-2678 3657

W: http://www.excelind.co.in

IS/ISO9001:2015 IS/ISO14001:2015 IS18001:2007 Certifiedby BIS.

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Excel Industries Ltd.

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ANNEXURE 1

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Sr. No. Particulars
1 Name(s) of parties with whom the The Joint Venture Agreement will be entered
agreement is entered : into between Excel Industries Limited and
M/s Reliable Infra.
2 Purpose of entering into the agreement : 1. Excel Industries Limited and Reliable Infra
( hereinafter jointly referred to as the "
parties " ) have jointly received an Award
from Rajkot Municipal Corporation to
Design, Build, Own, Operate & Maintain the
Construction & Demolition (C&D) waste
management system for treatment of
Construction & Demolition Waste in Rajkot
on Public Private Partnership basis for a
period of 20 Years ( Project ). The parties are
required to incorporate a Special Purpose
Vehicle (SPV) for execution of the Project.
For incorporation of the SPV in the form of a
Company and operation thereof, a Joint
Venture Agreement is to be entered between
the parties.
3 Shareholding, if any, in the entity with : Excel Industries Limited does not hold any
whom the agreement is executed shares in Reliable Infra.
4 Significant terms of the agreement (in : a. Excel Industries Limited has the exclusive
brief) special rights like right to right to nominate Directors on the Board of
appoint directors, first right to share the SPV;
subscription in case of issuance of
shares, right to restrict any change in
b. The SPV may issue securities like equity
capital structure etc.
shares, preference shares, debentures etc. in
line with the applicable laws;
c. Standard clauses on restrictions on transfer
of shares, conditions for termination of the
agreement have been incorporated in the
Joint Venture Agreement.
5 Whether the said parties are related to : No
promoter/promoter group/ group
companies in any manner. If yes,
nature of relationship
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Chemicals Business / Environment & Biotech Division Polymer Inputs / Pharmaceuticals Intermediaries/Veterinary API’s

Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai-400102, Maharashtra, India. CIN: L24200MH1960PLC011807

E: excelmumbai@excelind.com T: 91-22-66464200

F: +91-22-2678 3657 W: http://www.excelind.co.in

IS/ISO9001:2015 IS/ISO14001:2015 IS18001:2007 Certifiedby BIS.

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Excel Industries Ltd.

Certifiedby BIS. Excel Industries Ltd.	Certifiedby BIS. Excel Industries Ltd.	Certifiedby BIS. Excel Industries Ltd.	Certifiedby BIS. Excel Industries Ltd.
6 Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms length : No
7 In case of issuance of shares to the parties, details of issue price, class of shares issued : The SPV Company shall be incorporated with an initial equity share capital of Rs. 10,00,000 ( Rupees Ten Lakhs ) divided into 1,00,000 ( One Lakh ) equity shares of Rs. 10 ( Ten ) each. Excel Industries Limited shall subscribe to 80,000 ( Eighty Thousand ) equity shares of Rs. 10 ( Ten ) each. Reliable Infra shall subscribe to 20,000 ( Twenty Thousand ) equity shares of Rs. 10 ( Ten)each.
8 Any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements, etc. : a. Nominee Directors on the Board of Directors of SPV Company shall be as stated in point no. 4 above. b. No potential conflict of interest is arising out of this agreement.
9	In case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange(s): a) name of parties to the agreement; b) nature of the agreement; c) date of execution of the agreement; d) details of amendment and impact thereof or reasons of termination and impact thereof.	:	N.A

For Excel Industries Limited

Surendra Digitally signed by Surendra Kumar Kumar Singhvi Date: 2023.02.10 Singhvi 18:55:28 +05'30' S K Singhvi

Company Secretary

Chemicals Business / Environment & Biotech Division Polymer Inputs / Pharmaceuticals Intermediaries/Veterinary API’s

Excel Industries Limited 184-87, S. V. Road, Jogeshwari (West), Mumbai-400102, Maharashtra, India. CIN: L24200MH1960PLC011807

E: excelmumbai@excelind.com T: 91-22-66464200

F: +91-22-2678 3657

W: http://www.excelind.co.in