Exide Industries Ltd. — Capital/Financing Update 2024

Mar 6, 2024

Ref No: EIL/SEC/2023-24/87

Date: 6 th March 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 6 **th**March 2024, "Exide Industries Limited" ('Company/EIL') has invested Rs. 39,99,99,975/- (Rupees Thirty-Nine Crore Ninety-Nine Lakh Ninety-Nine Thousand Nine Hundred and Seventy-Five 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.1,965 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 13**th**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) ACS No.11159 JITENDRA KUMAR MOHAN LAL Digitally signed by JITENDRA KUMAR MOHAN LAL Date: 2024.03.06 18:08:46 +05'30'

Encl: as above

Exide Industries Limited, Exide House, 59E Chowringhee Road, Kolkata-700 020 Phone : (033) 2302-3400, Fax: (033) 2283-2642/37 e-mail : exideindustrieslimited@exide.co.in, www.exideindustries.com GIN: L31402WB1947PLC014919

Annexure-1

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

a.	size, turnover etc.	Name of the target entity details in brief such as Exide Energy Solutions Limited (EESL), an existing whollyowned subsidiary of Exide Industries Limited (EIL) wasincorporated on 24th March 2022 and will be engaged in thebusiness of manufacturing & selling lithium-ion battery cells,modules and packs for India's electric vehicle market andstationary applications. Some of the relevant details of EESLare given below:
		Paid up equity share capital as on date: Rs. 696.97 croreNet worth as on 31.03.2023: Rs. 655.20 croreTurnover as on 31.03.2023: NilLoss after Tax for the year ended 31.03.2023: Rs. 59.81crore
		As on date, the total investment by Exide Industries Limitedin the equity share capital of EESL including share premiumstands to Rs. 1,965 Crore
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. EESLhas allotted 1,29,03,225 nos. equity shares of Rs. 10/- each atapremiumofRs.21/-pershareaggregatingtoRs.39,99,99,975/- (Rupees Thirty-Nine Crore Ninety-Nine LakhNinety-Nine Thousand Nine Hundred and Seventy-Five only)on rights basis to EIL.Save&exceptwhatismentionedabove,thePromoter/promoter group/group companies have no interest inthe transaction.
		The said transaction is at arm's length.
c.	Industry to which the entity being acquiredbelongs	Manufacturing battery cells of advanced chemistry and formfactor, including but not limited to cylindrical, pouch,prismatic, (the "Battery Cells"), as well as manufacturing,assembling, selling battery modules, battery packs and otherrelated 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 the listedentity)	EESL is in the process of setting up a plant for manufacturing& selling lithium-ion battery cells, modules and pack business.The Company has made further investment by subscribing toequity shares offered by EESL on a rights basis to fund its••
•:various fun

		With the current investment, EIL shareholding m EESLremains unchanged at 100%
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 were allottedon 61h March 2024
g.	Natureofconsiderationwhethercashconsideration or share swap and details of thesame	Cash
h.	Cost of acquisition or the price at which theshares are acquired	1,29,03,225 nos. equity shares of Rs. 10/-each at a premiumof Rs.21 on rights basis to EIL
1.	Percentage of shareholding / control acquiredand / or number of shares acquired	With the current investment, EIL shareholding m EESLremains unchanged at 100%
J.	Briefbackground about the entityacquiredterms of products/line of business acquired,mdate of incorporation, history of last 3 yearsturnover, country in which the acquired entityhaspresenceandanyothersignificantinformation (in brief)	EESL was incorporated on 24th March 2022 and the businessobjects of it are explained in point no. c aboveTurnover for last 3 years are: NIL