Exide Industries Ltd. — Capital/Financing Update 2024

Jan 25, 2024

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RefNo: EIL/SEC/2023-24/78

Date: 25[th ] January 2024 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 - 400 051 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 25[t][h ] January 2024, "Exide Industries Limited" ('Company/EIL') has invested Rs.50,00,00,023/- (Rupees fifty crores and twenty-three 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. 1,870.01 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. SEBVHO/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 KUMAR MOHAN LAL MOHAN LAL Date: 2024.01.25 17:31:41 +05'30' Jitendra Kumar Company Secretary & President (Legal & Corporate Affairs) ACS No.11159

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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 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 24thMarch 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.
		666.33 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
		As on date, the total investment by Exide Industries
		Limited in the equity share capital of EESL
		including share premium stands to Rs 1,870.01
		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 161,29,033 equity shares of
	promoter group/ group companies have any interest in the entity being acquired?	Rs. 10/- each at a premium of Rs. 21/- per share aggregating to Rs. 50,00,00,023/- on rights basis to EIL.
	If yes, nature of interest anddetails 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	EESL is in the process of setting up a plant for
	limited to, disclosure of reasons for acquisition of	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)

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e.	TheCompany hasmadefrther investmentby subscribing to equity shares offered by EESL on a rights basis to fnd its green feld project and meet various fnding requirements. With the current investment,EILshareholding in EESL remains unchanged at 100% Brief details of any governmental or regulatory None approvals required for the acquisition Indicativetimeperiodfrcompletion oftheTheequity shares against the currentinvestment acquisition were allotted on 25thJanuary 2024	TheCompany hasmadefrther investmentby subscribing to equity shares offered by EESL on a rights basis to fnd its green feld project and meet various fnding requirements. With the current investment,EILshareholding in EESL remains unchanged at 100% Brief details of any governmental or regulatory None approvals required for the acquisition Indicativetimeperiodfrcompletion oftheTheequity shares against the currentinvestment acquisition were allotted on 25thJanuary 2024	TheCompany hasmadefrther investmentby subscribing to equity shares offered by EESL on a rights basis to fnd its green feld project and meet various fnding requirements. With the current investment,EILshareholding in EESL remains unchanged at 100%	TheCompany hasmadefrther investmentby subscribing to equity shares offered by EESL on a rights basis to fnd its green feld project and meet various fnding requirements. With the current investment,EILshareholding in EESL remains unchanged at 100%
f
0 _b" _	Nature of consideration whether cash considerationCash or share swap and details of the same
h.	Cost of acquisition or the price at which the shares 1,61,29,033equityshares of Rs.10/- each at a are acquired premium of Rs.21/- per share aggregating to Rs. 50,00,00,023/-.
I.	Percentage of shareholding_I_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 mEESL was incorporated on 24thMarch 2022 and the terms of products/line of business acquired, date ofbusiness objects of it are explained in point no. c incorporation,historyof last3yearsturnover,above country in which the acquired entity has presence and any other signifcant infrmation (in brief Turnover fr last 3 years are: NIL
		f last3yearsturnover, quired entity has presence infrmation (in brief		above Turnover fr 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