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Exide Industries Ltd. Capital/Financing Update 2024
60960_rns_2024-12-17_94b6019b-9f20-4ff8-9382-1649e3f1ed2b.pdf
Capital/Financing Update
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Ref No: EIL/SEC/2024-25/74
| 1 7th December 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 Oh.ligations and Disclosure Requirements) Regulations. 2015 ("LODR Regulations") - Further investment in Whollv Owned Subsidiary
This is to inform you that on 17th December 2024, "Exide Industries Limited" ('Company/EIL') has invested Rs. 99, 99,99,972/- (Rupees Ninety-Nine crores ninety-nine lakhs ninety-nine thousand nine hundred and seventy-two 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. 3152.24 crores. 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 13th July 2023 is enclosed herewith.
You are requested to kindly take the above on record.
Thanking you.
For Exide Industries Limited
Jitendra Kumar Company Secretary & President (Legal & Corporate Affairs) JITENDRA KUMAR MOHAN LAL Digitally signed by JITENDRA KUMAR MOHAN LAL Date: 2024.12.17 15:05:32 +05'30'
ACS No.11159
Encl: as above
Exide Industries Limited Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone: (033) 2302-3400, 2283 2120/2171/2118, Fax: (033) 2283-2175 e-mail : [email protected], www.exideindustries.com CIN: L31402WB1947PLC014919
Annexure-1
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 suchas size, turnover etc. | Exide Energy Solutions Limited (EESL), an existingwholly owned subsidiary of Exide Industries Limited(EIL) was incorporated on 24th March 2022 and isengaged in the business of manufacturing & sellinglithium-ion battery cells, modules and packs forIndia'selectricvehiclemarketandstationaryapplications. Some of the relevant details ofEESL aregiven below: |
|---|---|---|
| Paid up equity share capital as on date: Rs.I 079.22 croreNet worth as on 31.03.2024: Rs. I, 981.56 croreTurnover as on 31.03.2024: Rs. 239.14 croreLoss after Tax for the year ended 31.03.2024: Rs.149.45 crore | ||
| As on date, the total investment by Exide IndustriesLimited in the equity share capital ofEESL includingshare premium stands to Rs. 3,152.24 crore includinginvestment made in erstwhile merged subsidiaryExide Energy Private Limited ('EEPL'). | ||
| b. | Whether the acquisition would fall withinrelated party transaction(s) and whether thepromoter/ promoter group/ group companieshave any interest in the entity being acquired?If yes, nature of interest and details thereof andwhether the same is done at "arm's length" | Yes, since EESL is a wholly owned subsidiary of EIL.EESL has allotted 2, 77, 77,777 nos. equity shares ofRs. I 0/-each at a premium of Rs. 26/-per shareaggregating to Rs. 99,99,99,972/-(Rupees NinetyNine crores ninety-nine lakhs ninety-nine thousandnine hundred and seventy-two only) on rights basis toEIL.Save &except what ismentioned 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 acquiredbelongs | Manufacturing battery cells of advanced chemistryand form factor, including but not limited tocylindrical, pouch, prismatic, (the "Battery Cells"), aswell as manufacturing, assembling, selling batterymodules, battery packs and other related activitiesthereto. |
EXIDE Exide Industries Limited
Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone: (033) 2302-3400, 2283 2120/2171/2118, Fax: (033) 2283-2175 e-mail : [email protected], www.exideindustries.com CIN: L31402WB1947PLC014919
| d. | Objects and effects of acquisition (including butlimitedto, disclosure of reasons fornotacquisition of target entity, if its business isoutside the main line of business of the listedentity) | EESL is in the process of setting up a green field plantat Bengaluru for manufacturing & selling lithium-ionbattery cells, modules and pack business. The equityinvestment in EESL on a rights basis is to fund theabove green field project and meet its various fundingrequirements.With the current investment, EfL shareholding inEESL remains unchanged at I 00% |
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| e. | Brief details of any governmental or regulatoryapprovals required for the acquisition | None |
| f. | Indicative time period for completion of theacquisition | The equity shares against the current investment wereallotted on 17th December 2024 |
| g. | Natureofconsiderationwhethercashconsideration or share swap and details of thesame | Cash |
| h. | Cost of acquisition or the price at which theshares are acquired | 2, 77, 77,777 nos. equity shares of Rs. 10/-each at apremium of Rs. 26/-on rights basis to EIL |
| I. | Percentage of shareholding I control acquiredand / or number of shares acquired | With the current investment, EIL shareholding inEESL remains unchanged at 100% |
| J. | Briefbackground about the entityacquiredin terms of products/line of business acquired,date of incorporation, history of last 3 years' | EESL was incorporated on 24th March 2022 and thebusiness objects of it are explained in point no. c above |
| turnover, country in which the acquired entityhaspresenceandanyothersignificant | Turnover for last 3 years are as underFY 2023-24 -Rs. 239.14 crore* | |
| information (in brief) | FY 2022-23 -Rs. 112.05 crore*FY 202 I -22 -NIL | |
| *Subsequent to merger of EEPL with EESL |
EXIDE Exide Industries Limited 75 Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone : (033) 2302-3400, 2283 2120/2171 /2118, Fax : (033) 2283-2175 e-mail : [email protected], www.exideindustries.com GIN: L31402WB1947PLC014919