Exide Industries Ltd. — Capital/Financing Update 2023

Sep 20, 2023

&EXIDE

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RefNo: EIL/SEC/2023-24/49

Date: 20[th ] September 2023

The Secretary The Secretary The Calcutta Stock Exchange Limited BSE Limited 7 Lyons Range Phiroze Jeejeebhoy Towers Dalal Street, Kolkata - 700 00 I Mumbai - 400 001 BSE Scrip Code: 500086 CSE Scrip Code: 15060 &10015060 - The Secretary National Stock Exchange oflndia Limited Exchange Plaza, 5th Floor, Plot no. C/1, G Block Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 NSE Symbol: EXIDEIND

Dear Sir/Madam,

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) " " - Regulations, 2015 ( LODR Regulations ) Further investment in Wholly Owned Subsidiary through Rights Issue

This is to inform you that on 20[th ] September 2023, "Exide Industries Limited" ('Company/EIL') has invested Rs. 124,99,99,980/- (Rupees One hundred twenty four crore ninety-nine lakh ninety-nine thousand nine hundred and eighty only) by way of subscription in the equity share capital of its wholly owned subsidiary, "Exide Energy Solutions Limited" (hereinafter referred as 'EESL'), on rights basis. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.

The detailed disclosure required under Regulation 30 read with para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations") and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-l/P/CIR/2023/123 dated 13[th ] July 2023 is enclosed herewith.

You are requested to kindly take the above on record.

Thanking you.

For Exide Industries Limited

JITENDRA Digitally signed by JITENDRA KUMAR MOHAN KUMAR LAL Date: 2023.09.20 17:07:50 MOHAN LAL +05'30' Jitendra Kumar Company Secretary & President (Legal & Corporate Affairs) ACS No.11159

Encl: as above

Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone : (033) 2302-3400, Fax : (033) 2283-2642/37 e-mail:exideindustrieslimited@exide.co.in,www.exideindustries.com GIN: L31402WB1947PLC014919

GIXIDE

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Annexure

Detailed disclosures under para A of Part A of Schedule III required under Regulation 30 of LODR Regulations:

a.	Name of the target entity details in brief such as size,turover etc.	Exide Energy Solutions Limited (EESL), an existingwholly owned subsidiary of Exide Industries
		Limited (EIL) was incorporated on 24thMarch 2022
		andwillbeengagedmthebusinessof
		manufcturing & selling lithium-ion battery cells,modules and packs fr India's electric vehicle
		market and stationary applications. Some of the
		relevant details of EESL are given below:
		Paid up equity share capital as on date: Rs.
		4 I 4. 72 crore
		Net worth as on 31.03.2023: Rs. 655.20 crore
		Turnover as on 31.03.2023: Nil
		Loss after Tax fr the year ended 31.03.2023:
		Rs. 59.81 crore
b.	Whether the acquisition would fll within related	Yes, since EESL is a wholly owned subsidiary of
	party transaction(s) and whether the promoter/	EIL. EESL has allotted4,03,22,580equity
	promoter group/ group companies have any interest	shares of Rs.10/- each at a premium of Rs. 21/­
	in the entity being acquired?	per share aggregating to Rs.124,99,99,980/- on
		rights basis to EIL.
	If yes, nature of interest and details thereof andwhether the same is done at "arm's length"	Save & except what 1s mentioned above, thePromoter/promoter group/group companies have no
		interest in the transaction.
		The said transaction is at arm's length.
C.	Industry to which the entity being acquired belongs	Manufacturing battery cells of advanced chemistryand frm fctor, including but not limited to
		cylindrical, pouch, prismatic, (the "Battery Cells"),as well as manufcturing, assembling, selling
		battery modules, battery packs and other related
		activities thereto.
d.	Objects and efects of acquisition (including but notlimited to, disclosure of reasons for acquisition of	EESL is in the process of setting up a plant formanufcturing & selling lithium-ion battery cells,
	target entity, if its business is outside the main lineof business of the listed entity)	modules and pack business. The Company has madefrther investment by subscribing to equity sharesofered by EESL on a rights basis to fnd its greenfeld project and meet various fnding requirements.
		With the current investment, EIL shareholding in
		EESL remains unchanged at 100%

Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone : (033) 2302-3400, Fax : (033) 2283-2642/37 e-mail : exideindustrieslimited@exide.co.in, www.exideindustries.com CIN: L31402W81947PLC014919

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&EXIDE

e.f0o·	Brief details of any governmental or regulatoryNoneapprovals required for the acquisitionIndicativetimeperiodforcompletionoftheTheequity shares against the cutTent investmentacquisitionwere allotted on 20thSeptember 2023	Brief details of any governmental or regulatoryNoneapprovals required for the acquisitionIndicativetimeperiodforcompletionoftheTheequity shares against the cutTent investmentacquisitionwere allotted on 20thSeptember 2023	Brief details of any governmental or regulatoryNoneapprovals required for the acquisitionIndicativetimeperiodforcompletionoftheTheequity shares against the cutTent investmentacquisitionwere allotted on 20thSeptember 2023
		Natuor sh	re of consideration whether cash considerationCashare swap and details of the same
h.	Costare a		of acquisition or the price at which the shares4,03,22,580equity shares of Rs.10/- each at acquiredpremium of Rs.21/-per share aggregating to Rs.124,99,99,980/-
I.	Percor nu		entage of shareholding/control acquired and/With the current investment, EIL shareholding inmber of shares acquiredEESL remains unchanged at I 00%
J-		Brieftermsincorcounand a	backgound about the entityacquiredinEESL was incorporated on 24th March 2022 and theof products/line of business acquired, date ofbusiness objects of it are explained in point no. cporation,historyof last3yearsturover,abovetry in which the acquired entity has presenceny other sigifcant information (in briefTurover for last 3 years are: NIL

Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone: (033) 2302-3400, Fax : (033) 2283-2642/37 e-mail : exideindustrieslimited@exide.co.in, www.exideindustries.com CIN: L31402WB1947PLC014919