Exide Industries Ltd. — Capital/Financing Update 2023

Oct 17, 2023

G ■XIN

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RefNo: EIL/SEC/2023-24/60

Date: 17[th ] October 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 of India 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 17[1h ] October 2023, "Exide Industries Limited" ('Company/EIL') has invested Rs. l ,00,00,00,015/- (Rupees One hundred Crore and Fifteen 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-1/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 MOHAN LAL Date: 2023.10.17 17:17:38 +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 CIN: L31402WB1947PLC014919

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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, turnover etc.	Exide Energy Solutions Limited (EESL), an existing wholly owned subsidiary of Exide Industries
		Limited (EIL) was incorporated on 24111March 2022
		and will be engaged m the business of
		manufacturing & selling lithium-ion battery cells,
		modules and packs for India's electric vehicle
		market and stationary applications. Some of the
		relevant details ofEESL are given below:
		Paid up equity share capital as on date: Rs.
		556.65 crore
		Net worth as on 31.03.2023: Rs. 655.20 crore
		Turnover as on 31.03.2023: Nil Loss after Tax for the year ended 31.03.2023:
		Rs. 59.81 crore
b.	Whether the acquisition would fall within related	Yes, since EESL is a wholly owned subsidiary of
	party transaction(s) and whether the promoter/	EIL. EESL has allotted 3,22,58,065 equity shares of
	promoter group/ group companies have any interest	Rs. 10/- each at a premium of Rs. 21/- per share
	in the entity being acquired?	aggregating to Rs. 1,00,00,00,015/- on rights basis to EIL.
	If yes, nature of interest and details thereof and	Save & except what is mentioned above, the
	whether the same is done at "arm's length"	Promoter/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 chemistry
		and form factor, including but not limited to
		cylindrical, pouch, prismatic, (the "Battery Cells"),
		as well as manufacturing, assembling, selling
		battery modules, battery packs and other related
		activities thereto.
d.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of	EESL is in the process of setting up a plant for manufacturing & selling lithium-ion battery cells,
	target entity, if its business is outside the main line of business of the listed entity)	modules and pack business. The Company has made further investment by subscribing to equity shares offered by EESL on a rights basis to fund its green field project and meet various funding requirements.
		With the current investment, EIL shareholding in
		EESL remains unchan°ed at 100%
	ustries 1m1
	Phone : (033) 2302-34
	e-mail : exideindustrie

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& EXIDE

e.	Brief details of any governmental or regulatory approvals required for the acquisition	None
f.	Indicative timeperiodforcompletionofthe	The equity shares against the currentinvestment
	acquisition	were allotted on 17thOctober 2023
(1 ,:,·	Nature of consideration whether cash consideration	Cash
	or share swap and details of the same
h.	Cost of acquisition or the price at which the shares	3,22,58,065equityshares of Rs.I 0/- each at a
	are acquired	premium of Rs. 21/- per share aggregating to Rs.
		1,00,00,00,015 /-
I.	Percentage of shareholding/control acquired and/	With the current investment, EIL shareholdingm
	or number of shares acquired	EESL remains unchanged at I 00%
J.	Briefbackground about the entityacquiredm	EESL was incorporated on 24thMarch 2022 and the
	terms of products/line of business acquired, date of incorporation,historyof last,, _.)_yearsturnover,	business objects of it are explainedin point no. c above
	country in which the acquired entity has presence and any other significant information (in brief)	Turnover 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