Exide Industries Ltd. — Capital/Financing Update 2023

Sep 20, 2023

RefNo: EIL/SEC/2023-24/49

Date: 20th 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
CSE Scrip Code: 15060 &10015060	BSE Scrip Code: 500086
The Secretary	-
National Stock Exchange oflndia Limited
Exchange Plaza, 5th Floor, Plotno. C/1, G BlockBandra-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 20th 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 13th July 2023 is enclosed herewith.

You are requested to kindly take the above on record.

Thanking you.

For Exide Industries Limited Jitendra Kumar JITENDRA KUMAR MOHAN LAL Digitally signed by JITENDRA KUMAR MOHAN LAL Date: 2023.09.20 17:07:50 +05'30'

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

Annexure

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

a.	turnover etc.	Name of the target entity details in brief such as size, Exide Energy Solutions Limited (EESL), an existingwhollyownedsubsidiaryof ExideIndustries
		Limited (EIL) was incorporated on 24th March 2022andwillbeengagedmthebusinessofmanufacturing & selling lithium-ion battery cells,modules and packs for India's electric vehiclemarket and stationary applications. Some of therelevant details of EESL are given below:Paid up equity share capital as on date: Rs.4 I 4. 72 croreNet worth as on 31.03.2023: Rs. 655.20 croreTurnover as on 31.03.2023: NilLoss after Tax for the year ended 31.03.2023:Rs. 59.81 crore
b.	Whether the acquisition would fall within relatedparty transaction(s) and whether the promoter/promoter group/ group companies have any interestin the entity being acquired?	Yes, since EESL is a wholly owned subsidiary ofEIL. EESL has allotted 4,03,22,580 equityshares of Rs. 10/-each at a premium of Rs. 21/­per share aggregating to Rs. 124,99,99,980/-onrights 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 nointerest 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 form factor, including but not limited tocylindrical, pouch, prismatic, (the "Battery Cells"),as well as manufacturing, assembling,sellingbattery modules, battery packs and other relatedactivities thereto.
d.	Objects and effects of acquisition (including but notlimited to, disclosure of reasons for acquisition oftarget entity, if its business is outside the main lineof business of the listed entity)	EESL is in the process of setting up a plant formanufacturing & selling lithium-ion battery cells,modules and pack business. The Company has madefurther investment by subscribing to equity sharesoffered by EESL on a rights basis to fund its greenfield project and meet various funding requirements.With the current investment, EIL shareholding inEESL 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

e.	Brief details of any governmental or regulatoryapprovals required for the acquisition	None
f.	Indicativetimeperiodforcompletionof theacquisition	The equity shares against the cutTent investmentwere allotted on 20th September 2023
0 o·	Nature of consideration whether cash considerationor share swap and details of the same	Cash
h.	Cost of acquisition or the price at which the sharesare acquired	4,03,22,580 equity shares of Rs. 10/-each at apremium of Rs. 21/-per share aggregating to Rs.124,99,99,980/-
I.	Percentage of shareholding / control acquired and /or number of shares acquired	With the current investment, EIL shareholding inEESL remains unchanged at I 00%
J-	Briefbackground about the entityacquiredinterms of products/line of business acquired, date ofincorporation, history of last 3 years turnover,country in which the acquired entity has presenceand any other significant information (in brief)	EESL was incorporated on 24th March 2022 and thebusiness objects of it are explained in point no. caboveTurnover for last 3 years are: NIL