Exide Industries Ltd. — Capital/Financing Update 2021

Sep 3, 2021

The Secretary	TheSecretary
The Calcutta Stock Exchange Limited	BSE Limited
7 LyonsRange	Phiroze Jeejeebhoy Towers
Kolkata - 700001	Dalal Street, Mumbai -400001
CSE Scrip Code: 15060&10015060	BSE Scrip Code: 500086
The Secretary	-
National Stock ExchangeofIndia Limited
ExchangePlaza,5thFloor,
Plot no. C/1, GBlock
Bandra-Kurla Complex, Barreira (E),
Mumbai -400051
NSE Symbol: EXIDEIND

1.	Theamountandpercentageof	Theamountandpercentageof	Theamountandpercentageof	Theamountandpercentageof	Nameofthe whollyownedsubsidiary:ExideLifeInsurance
	the turnoveror		revenueor		Company Limited (Exide Life)
	incomeandnetworthcontributedbysuchunitor				Ason March 31, 2021I------~ -----~ ----------"-'--'--=-"'-'-__;~ ParticularsRs. Crore%
	divisionofthe		listed	entity	f-------+------1----------~--l
	duringthelast financial year;				Revenue4,937.4632.3%ofConsolidated
					Revenue
					Networth1,481.4220.4%ofConsolidated
					Networth
2.	Dateon	which theagreementfor			3 September 2021
	salehas	beenentered into;
3.	Theexpected dateofcompletion				The dateofcompletionofthe sale dependsonthetime taken
	ofsale/disposal;				for receiving all approvals, including approvals from
					concerned regulators. However,itisestimated that the sale
					willbecompleted before 30 June 2022.
4.	Consideration received			from	Thetotal investmentoftheCompanyinExide Life, a material
	such sale/disposal;				whollyownedsubsidiaryoftheCompany, asondateisINR.
					1679.59 crore (IndianRupeesonethousandsixhundred
					seventy nine crore and fifty nine lakh).Itis proposed to
					divest the entire equity shareholding heldbytheCompanyin
					ExideLifebywayofsaletoHDFCLifeInsuranceCompany
					Limited**(Purchaser),**foranaggregate considerationofINR
					6,687 crore (Indian Rupees six thousand six hundred eighty
					seven crore), whichisproposedtobedischargedbywayof:
					(i)paymentofINR725,97,77,930 (Indian Rupees seven
					hundred twenty five croreninetysevenlakhseventy seven
					thousand nine hundred thirty)ascashconsideration,and(ii)
					issuanceof8,70,22,222(eight crore seventy lakh twenty two
					thousand two hundred twentytwo)equity sharesofthe
					Purchaser to theCompanyatapriceofINR685 (Indian
					Rupeessixhundredeightfive)perequity share.
					The consideration for the Proposed Transaction hasbeen
					determined basedonthe (i) valuation reportinrelation to the
					sharesofthe PurchaserandExideLife preparedbyDeloitte
					Touche Tomhatsu India LLPandDesaiHaribhakti & Co.,
					each independently appointedbythe Purchaserand
					Company, respectively, (ii) valuation reportinrelation to the
					sharesofthe PurchaserandExideLife preparedbyMs
					RashmiShahandMrS Sundararaman, each a Registered
					Valuer independently appointedbythePurchaserand
					Company, respectively, and (iii) fairness opinion issuedby
					_Mis_AmbitPrivateLimited(aSEBIregistered merchant
					banker), appointedbytheCompany.Thevaluation reports
					and the fairnessopinionwere also reviewedbytheAudit
					Committee, andtheAuditCommittee confirmed that the
					consideration fortheProposed Transactionisfair and
					recommended thesametotheBoard.TheBoardreviewed
					and notedtherecommendationoftheAuditCommittee.

		&IXID
5.	Briefdetailsofbuyers and	HDFC Life Insurance Company Limited, a public listed
	whetheranyofthebuyers	company duly registered with the IRDAIasa life insurance
	belongtothepromoter/	company.
	promotergroup/group
	companies.Ifyes,details	The Purchaser doesnotbelong to the promoter groupofthe
	thereof;	Company.
6.	Whether the transaction would	No.
	fallwithinrelatedparty
	transactions?Ifyes, whether the
	same is doneat"arms'length";
7.	Additionally,incaseofa slump	N.A.
	sale,indicativedisclosures
	providedfor
	amalgamation/merger, shallbe
	disclosedbythe listed entity
	withrespect to such slumn sale.