Exide Industries Ltd. — Capital/Financing Update 2023

Dec 14, 2023

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RefNo: EIL/SEC/2023-24/68

Date: 14[th ] December 2023

The Secretary The Secretary The Calcutta Stock Exchange Limited BSE Limited 7 Lyons Range Phiroze Jeejeebhoy Towers, Dalal Street, Kolkata - 700 001 Mumbai - 400 001 CSE Scrip Code: 15060 &10015060 BSE Scrip Code: 500086 ~~-~~ 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 05 I 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 14[th ] December 2023, "Exide Industries Limited" ('Company/EIL') has invested Rs. 100,00,00,015/- (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. With this investment, the total investment made by the Company in EESL stands to Rs. 1,780.01 crore. 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 MOHAN LAL LAL Date: 2023.12.14 16:43:54 +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, 2283-2171, 2283-2118 e-mail : exideindustrieslimited@exide.co.in, www.exideindustries.com GIN: 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, Exide Energy Solutions Limited (EESL), an existing turover etc. wholly owned subsidiary of Exide Industries	Name of the target entity details in brief such as size, Exide Energy Solutions Limited (EESL), an existing turover etc. wholly owned subsidiary of Exide Industries
		Limited (EIL) was incorporated on 24thMarch 2022
		and will be engaged m the business of
		manufcturing & selling lithium-ion battery cells,
		modules and packs for 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.
		637.30 crore
		Net worth as on 31.03.2023: Rs. 655.20 crore
		Turover as on 31.03.2023: Nil
		Loss after Tax for the year ended 31.03.2023:
		Rs. 59.8 l crore
		As on date, the total investment by Exide Industries
		Limited in the equity share capital of EESL
		including share premium stands to Rs 1,780.01
		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 allotted3,22,58,065equity shares
	promoter group/ group companies have any interest in the entity being acquired?	of Rs. 10/- each at a premium of Rs. 21/- per share aggregating to Rs. 100,00,00,015/- on rights basis to EIL.
	If yes, nature of interest and details thereof and whether the same is done at "arm's length"	Save & except what is mentioned above, the 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	Manufcturing battery cells of advanced chemistry and 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 not limited to, disclosure of reasons fr acquisition of	EESL is in the process of setting up a plant fr manufacturing & selling lithium-ion battery cells,
	target entity, if its business is outside the main line	modules and pack business.
	of business of the listed entity)
	Exide Industries Limited,Exide House, 5 E Chowrin hee Road, Kolkata-700 020
	Phone : (033) 2302-3400, 2283-2171, 2283-2118
	e-mail : exideindustrieslimited@exide.co.in, www.exideindustries.com
	CIN : L31402WB1947PLC014919

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			The Company hasmadeftther investment by subscribing to equity shares ofered by EESL on a rights basis to fnd its green field project and meet various fnding requirements.
			With the current investment, EIL shareholding in
			EESL remains unchanged at 100%
e.	Brief details of any governmental or regulatory		None
	approvals required for the acquisition
f	Indicativetimeperiodfor completionof	the	The equity shares against the currentinvestment
	acquisition		were allotted on 14thDecember 2023
a o·	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		3,22,58,065 equity shares of Rs.10/- each at a
	are acquired		premium of Rs. 21/- per share aggregating to Rs.
			100,00,00,015/-.
I.	Percentage of shareholding/control acquired and/		With the current investment, EIL shareholding in
	or number of shares acquired		EESL remains unchanged at 100%
J.	Briefbackground about the entityacquired	In	EESL was incorporated on 24thMarch 2022 and the
	terms of products/line of business acquired, date of incorporation,historyof last3yearsturover,		business objects of it are explained in point no. c above
	country in which the acquired entity has presence and any other significant infrmation (in brief		Turnover for last 3 years are: NIL

Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone: (033) 2302-3400, 2283-2171, 2283-2118 e-mail : exideindustrieslimited@exide.co.in, www.exideindustries.com CIN: L31402WB1947PLC014919