Exide Industries Ltd. — Capital/Financing Update 2024

Jun 26, 2024

Ref No: EIL/SEC/2024-25/29

Date: 26th June 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 26th June 2024, "Exide Industries Limited" ('Company/EIL') has invested Rs. 49,99,99,968/- (Rupees Forty-nine crores ninety-nine lakhs ninety-nine thousand nine hundred and sixty-eight 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. 2,502.24 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: 2024.06.26 16:59:57 +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 brief sue! Exide Energy Solutions Limited (EESL), an existing
	size, turnover etc.	wholly owned subsidiary of Exide Industries Limited
		(EIL) was incorporated on 24th March 2022 and is engaged
		in 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. 898.66crore
		Net worth as on 31.03.2024: Rs. 1,981.56 crore
		Turnover as on 31.03.2024: Rs. 239.14 crore
		Loss after Tax for the year ended 31.03.2024: Rs.
		149.45 crore
		As on date, the total investment by Exide Industries
		Limited in the equity share capital of EESL including
		share premium stands to Rs. 2,502.24 crore including
		investment made in erstwhile merged subsidiary Exide
		Energy Private Limited ('EEPL').
b.	Whether the acquisition would fall within	Yes, since EESL is a wholly owned subsidiary of EIL.
	related party transaction(s) and whether the	EESL has allotted 1,38,88,888 nos. equity shares of Rs.
	promoter/promotergroup/group	10/-each at a premium of Rs. 26/- per share aggregating
	companies have any interest in the entity	to Rs. 49,99,99,968/-(Rupees Forty-nine crores ninety
	being acquired?	nine lakhs ninety-nine thousand nine hundred and sixty
		eight only) on rights basis to EIL.
	If yes, nature of interest and details thereof
	and whether the same is done at "arm's	Save&exceptwhatismentionedabove,the
	length"	Promoter/promotergroup/group companies have no
		interest 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 batterymodules,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 l 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 wereallotted on 26th June 2024.
g.	Natureofconsiderationwhethercashconsideration or share swap and details ofthe same	Cash
h.	Cost of acquisition or the price at which theshares are acquired	I ,38,88,888 nos. equity shares of Rs. 10/-each at apremium of Rs. 26/-on rights basis to EIL.
I.	Percentageofshareholding/controlacquired and/ or number of shares acquired	With the current investment, EIL shareholding in EESLremains unchanged at I 00%
J.	Briefbackground abouttheentityacquiredterms of products/line of111business 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 thebusiness 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 EEPL with EESL