Exide Industries Ltd. — Capital/Financing Update 2024

Jun 12, 2024

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

Date: 12 [th ] June 2024

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 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 12th June 2024, "Exide Industries Limited" ('Company/EIL') has invested Rs.74,99,99,988/- (Rupees seventy four crore ninety nine lakh ninety nine thousand nine hundred and eighty 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.2,452.24 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-1/P/CIR/2023/123 dated I 3[th ] July 2023 is enclosed herewith.

You are requested to kindly take the above on record.

Thanking you.

For Exide Industries Limited

JITENDRA KUMAR Digitally signed by JITENDRA KUMAR MOHAN LAL MOHAN LAL Date: 2024.06.12 17:08:06 +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

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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 such as Exide Energy Solutions Limited (EESL), an existing wholly	Name of the target entity details in brief such as Exide Energy Solutions Limited (EESL), an existing wholly
	size, turover etc.	owned subsidiary of Exide Industries Limited (EIL) was
		incorporated on 24thMarch 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 of EESL
		are given below:
		Paid up equity share capital as on date: Rs. 884.77 crore
		Net worth as on 31.03.2024: Rs. 1,981.56 crore
		Turover as on 31.03.2024: Rs. 239.14 crore Loss afer 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. 2,452.24 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 ofEJL. EESL
	related party transaction(s) and whether the	has allotted 2,08,33,333 nos. equity shares of Rs. 10/- each at
	promoter/ promoter group/ group companies	a premium of Rs. 26/- per share aggregating to Rs.
	have any interest in the entity being acquired?	74,99,99,988/- (Rupees Seventy Four Crore Ninety-Nine Lakh
		Ninety-Nine Thousand Nine Hundred and Eighty-Eight only)
	If yes, nature of interest and details thereof and	on rights basis to EIL.
	whether the same is done at "arm's length"	Save & except what 1s mentioned above, the
		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	Manufcturing battery cells of advanced chemistry and form fctor, 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.

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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d. e. Objects and effects of acquisition (includingEESL is in the process of setting up a green feld plant at but not limited to, disclosure of reasons forBengaluru for manufcturing & selling lithium-ion battery acquisition of target entity, if its business iscells, modules and pack business. The equity investment in outside the main line of business of the listedEESL on a rights basis is to fund the above green feld project entity) and meet its various fnding requirements. With the current investment,EIL shareholding1EESL remains unchanged at I 00% Brief detai Is of any govermental or None regulatory approvals required for the acquisition '	d. e. Objects and effects of acquisition (includingEESL is in the process of setting up a green feld plant at but not limited to, disclosure of reasons forBengaluru for manufcturing & selling lithium-ion battery acquisition of target entity, if its business iscells, modules and pack business. The equity investment in outside the main line of business of the listedEESL on a rights basis is to fund the above green feld project entity) and meet its various fnding requirements. With the current investment,EIL shareholding1EESL remains unchanged at I 00% Brief detai Is of any govermental or None regulatory approvals required for the acquisition '	d. e. Objects and effects of acquisition (includingEESL is in the process of setting up a green feld plant at but not limited to, disclosure of reasons forBengaluru for manufcturing & selling lithium-ion battery acquisition of target entity, if its business iscells, modules and pack business. The equity investment in outside the main line of business of the listedEESL on a rights basis is to fund the above green feld project entity) and meet its various fnding requirements. With the current investment,EIL shareholding1EESL remains unchanged at I 00% Brief detai Is of any govermental or None regulatory approvals required for the acquisition '
f. g. Indicative timeperiodfr completionof theThe equity shares against the current investment were allotted acquisition on 12thJune 2024. Nature of consideration whether cash Cash
	consideration or share swap and details of the same
h. Cost of acquisition or the price at which the shares are acquired		2,08,33,333 nos. equity shares of Rs.10/- each at a premium of Rs. 26/- on rights basis to EIL.
I. Percentage of shareholding / control acquired With the current investment,EIL shareholdinginEESL and / or number of shares acquired remains unchanged at 100%
J. Briefbackground about the entityacquiredEESL was incorporated on 24thMarch 2022 and the business interms of products/line of business acquired,objects of it are explained in point no. c above date of incorporation, history of last 3 years turnover, country in which the acquired entityTurnover for last 3 years are as under haspresenceandanyothersignifcantFY 2023-24 - Rs. 239.14 crore information (in brief) FY 2022-23 - Rs. 112.05 crore FY 2021-22- NIL *Subsequent to merger of EEP L with EESL

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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