Exide Industries Ltd. — Capital/Financing Update 2024

Feb 6, 2024

JITENDRA Digitally signed by JITENDRA KUMAR KUMAR MOHAN LAL MOHAN LAL Date: 2024.02.06 16:06:52 +05'30'

a.	Nameofthe target entity detailsinbrief sue	Nameofthe target entity detailsinbrief sue	Exide Energy Solutions Limited (EESL), an existing wholly
	size, turnover etc.		owned subsidiaryofExide Industries Limited (EIL) was
			incorporated on24thMarch 2022 and will be engagedinthe
			businessofmanufacturing & selling lithium-ion battery
			cells, modules and packs for India's electric vehicle market
			and stationary applications. Someofthe relevant detailsof
			EESL are given below:
			Paidupequity share capitalason date: Rs. 676.01 crore
			Networthason 31.03.2023: Rs. 655.20 crore
			Turnoverason 31.03.2023: Nil
			Loss after Tax for the year ended 31.03.2023: Rs. 59.81
			crore
			As on date, the total investment by Exide Industries Limited
			inthe equity share capitalofEESLincluding share premium
			stands to Rs. 1900.01 crore.
b.	Whether the acquisition	would fall within	Yes, since EESLisa wholly owned subsidiaryofEIL. EESL
	related patiy transaction(s) and whether the		has allotted96, 77,419 equity sharesofRs. 10/- each at a
	promoter/promotergroup/groupcompanies have any interestinthe entity		premiumofRs.21/-per share aggregating toRs.29,99,99,989/- on rights basis to EIL.
	being acquired?		Save&exceptwhatismentionedabove,the
			Promoter/promoter group/group companies have no interest
	Ifyes, natureofinterest	and detailsthereof	inthe transaction.
	and whether the same	isdone at "arm's
	length"		The said transactionisatarm'slength.
c.	Industry to which the entity being acquired		Manufacturing battery cellsofadvanced chemistry and form
	belongs		factor, 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.
d.	Objects and effectsofacquisition (including		EESL is in the processofsetting up a plant for manufacturing
	but not I imited to, disclosureofreasons for		& selling lithium-ion battery cells, modules and pack
	acquisitionoftarget entity, rfitsbusinessis		business.
	outside the main lineofbusinessofthe
	listed entity)		The Company has made further investment by subscribing to
			equity shares offered by EESL on a rights basis to fund its
			green field project and meet various funding requirements.
			With the current investment, EIL shareholding in EESL
			remains unchanged at 100%

e.	BriefdetaiIsofany governmental or	None
	regulatory approvals required for the
	acquisition
f.	Indicative time period for completionofthe	The equity shares against the current investment were
	acquisition	allotted on 6thFebruary 2024
g.	Natureofconsideration whether cash	Cash
	considerationorshareswap and detailsof
	the same
h.	Costofacquisitionorthe price at which the	96, 77,419 equity sharesofRs.10/- each at a premiumofRs.
	shares are acquired	21/- per share aggregating to Rs.29,99,99,989/- on rights
		basis to EIL.
I.	Percentageofshareholding_I_control	With the current investment, EIL shareholding111EESL
	acquiredand/or numberofshares acquired	remains unchanged at 100%
J.	Briefbackground about the entity	EESL was incorporated on 24thMarch 2022 and the business
	acquired111termsofproducts/lineof	objectsofit are explainedinpoint no. c above
	business acquired, dateofincorporation,
	historyoflast 3 years turnover, countryin	Turnover for last 3 years are:NIL
	which the acquired entity has presence and
	any other significant information (in brief)