Exide Industries Ltd. — Capital/Financing Update 2023

Nov 21, 2023

JITENDRA KUMAR Digitally signed by JITENDRA KUMAR MOHAN LAL MOHAN LAL Date: 2023.11.21 14:55:04 +05'30'

a.	Nameofthe target entity detailsinbriefsuchassize,	Nameofthe target entity detailsinbriefsuchassize,	Exide Energy Solutions Limited (EESL), an existing
	turnover etc.		wholly owned subsidiaryofExide Industries
			Limited (EIL) was incorporatedon24thMarch 2022
			and will be engaged 111 the business of
			manufacturing & sel ling lithium-ion battery cells,
			modules and packs for India'selectric vehicle
			market and stationary applications. Someofthe
			relevant detailsofEESL are given below:
			Paidupequity share capital as on date: Rs.
			605.04 crore
			Netwotih as on 31.03.2023:Rs.655.20 crore
			Turnover as on 31.03.2023: Nil
			Loss afterTaxfor the year ended31.03.2023 :
			Rs. 59.81 crore
			As on date, the total investment by Exide Industries
			Limitedinthe equity share capitalofEESL
			including share premium stands to Rs 1,680.01
			crore.
b.	Whether the acquisition would fall within related		Yes, since EESLisa wholly owned subsidiaryof
	party transaction(s) and whether the promoter/		EIL. EESL has allotted3,22,58,065equity shares
	promoter group/ group companies have any interest		ofRs. 10/- each at a premiumofRs.21/- per share
	in the entity being	acquired?	aggregating to Rs. 100,00,00,015/- on rights basis to EIL.
	Ifyes, natureof	interest and details thereof and	Save & except whatismentioned above, the
	whether the same is done at"arm'slength"		Promoter/promoter group/group companies have no
			interestinthetransaction.
			Thesaid transactionisatarm'slength.
c.	Industry to which the entity being acquired belongs		Manufacturing battery cellsofadvanced 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	ofacquisition (including but not	EESL isinthe processofsettingupa plant for
	limited to, disclosureofreasons for acquisitionof		manufacturing & selling lithium-ion battery cells,
	target entity,ifits businessisoutside the main line		modules and pack business.
	ofbusinessofthelisted entity)
	Exide Industries	Limited,Exide House, 59E Chowringh	e Road, Kolkata-700 020
	Phone : (033) 2302-3400, Fax : (033) 2283-2642/37
	e-mail : exid ind	trieslimited exide.co.in www.exidein	ustries.com
	CIN:L31402WB1947PLC014919

			TheCompany has madefwtherinvestment by
			subscribing to equity shares offeredbyEESLon a
			rights basis to fund its green field project and meet
			various funding requirements.
			With the current investment, EIL shareholdingin
			EESL remains unchanged at l 00%
e.	Briefdetai Isofany governmental or regulatory		None
	approvals required for the acquisition
f.	Indicative time period for completionof	the	Theequity shares against the current investment
	acquisition		were allotted on21stNovember2023
g.	Natureofconsideration whether cash consideration		Cash
	orshare swap and detailsofthe same
h.	Costofacquisition or the price at which the shares		3,22,58,065equity sharesofRs. 10/- each at a
	are acquired		premiumofRs. 21/- per share aggregating to Rs.
			l 00,00,00,0l5/-.
I.	Percentageofshareholding/control acquired and /		With the current investment, EIL shareholding111
	ornumberofshares acquired		EESLremains unchanged at 100%
J.	Briefbackground about the entity acquired	111	EESLwas incorporated on 24thMarch 2022 and the
	termsofproducts/lineofbusiness acquired, date	of	business objectsofit are explained in point no. c
	incorporation, historyoflast3years turnover,		above
	country in which the acquired entity has presence
	and any other significant information (in brief)		Turnoverfor last 3 years are:NIL