Exide Industries Ltd. — Capital/Financing Update 2024

Nov 12, 2024

Ref No: EIL/SEC/2024-25/64

12th November 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

This is to inform you that on 12th November 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. 2,952.24 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 13th July 2023 is enclosed herewith.

You are requested to kindly take the above on record.

Thanking you.

For Exide Industries Limited

JITENDRA KUMAR MOHAN LAL Digitally signed by JITENDRA KUMAR MOHAN LAL Date: 2024.11.12 15:58:53 +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 CIN: L31402WB1947PLC014919

Annexure-1

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

a.	Name of the target entity details in briefsuch as size, turnover etc.	Exide Energy Solutions Limited (EESL), an existingwholly owned subsidiary of Exide Industries Limited(EIL) was incorporated on 24th March 2022 and is engagedin the business of manufacturing & selling lithium-ionbattery cells, modules and packs for India's electricvehicle market and stationary applications. Some of therelevant details ofEESL are given below:-Paid up equity share capital as on date: Rs. 1023.66croreNet wo11h as on 31.03.2024: Rs. 1,981.56 croreTurnover as on 31.03.2024: Rs. 239. 14 croreLoss after Tax for the year ended 31.03.2024: Rs.149.45 croreAs on date, the total investment by Exide IndustriesLimited in the equity share capital of EESL includingshare premium stands to Rs. 2,952.24 crore includinginvestment made in erstwhile merged subsidiary Exide
b.	Whether the acquisition would fall withinrelated party transaction(s) and whether thepromoter/promotergroup/groupcompanies have any interest in the entitybeing acquired?If yes, nature of interest and detai Is thereofand whether the same is done at "arm'slength"	Energy Private Limited ('EEPL').Yes, since EESL is a wholly owned subsidiary of EIL.EESL has allotted 2,77,77,777 nos. equity shares of Rs.I 0/-each at a premium of Rs. 26/-per share aggregatingto Rs. 99,99,99,972/-(Rupees Ninety-Nine crores ninetynme lakhsninety-ninethousand ninehundred andseventy-two only) on rights basis to EIL.Save&exceptwhat1smentionedabove,thePromoter/promotergroup/groupcompanies 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 chemistry andform factor, including but not limited to cylindrical,pouch, prismatic, (the "Battery Cells"), as well asmanufacturing, assembling, selling battery modules,battery packs and other related activities thereto.

d.	Objects and effects of acquisition (includingbut not limited to, disclosure of reasons foracquisition of target entity, if its business isoutside the main line of business of thelisted entity)	EESL is in the process of setting up a green field plant atBengaluru for manufacturing & selling lithium-ion batterycells, modules and pack business. The equity investmentin EESL on a rights basis is to fund the above green fieldproject and meet its various funding requirements.With the current investment, EIL shareholding in EESLremains unchanged at I 00%
e.	Brief details of any governmental orregulatory approvals required for theacquisition	None
f.	Indicative time period for completion of theacquisition	The equity shares against the current investment wereal lotted on 12th November 2024
g.	Natureof considerationwhethercashconsideration or share swap and details ofthe same	Cash
h.	Cost of acquisition or the price at which theshares are acquired	2,77,77,777 nos. equity shares of Rs. I 0/-each at apremium of Rs. 26/-on rights basis to EIL
I.	IPercentageofshareholdingcontrolacquired and/ or number of shares acquired	With the current investment, EIL shareholding in EESLremains unchanged at 100%
J	Briefbackgroundaboutthe entityacquired111business acquired, date of incorporation,history of last 3 years' turnover, country inwhich the acquired entity has presence andany other significant information (in brief)	EESL was incorporated on 24th March 2022 and theterms of products/line of business objects of it are explained in point no. c aboveTurnover for last 3 years are as underFY 2023-24 -Rs. 239.14 crore*FY 2022-23 -Rs. 112.05 crore*FY 2021-22- NIL* Subsequent to merger of EEP L with EESL