Exide Industries Ltd. — Capital/Financing Update 2024

Jan 25, 2024

RefNo: EIL/SEC/2023-24/78

Date: 25th January 2024

The Secretary
BSE Limited
Phiroze Jeejeebhoy Towers, Dalal Street,
Mumbai - 400 001
BSE Scrip Code: 500086
-

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 25thJanuary 2024, "Exide Industries Limited" ('Company/EIL') has invested Rs.50,00,00,023/- (Rupees fifty crores and twenty-three 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. 1,870.01 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. SEBVHO/CFD/CFD-PoD-1/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 Company Secretary & President (Legal & Corporate Affairs) ACS No.11159 JITENDRA KUMAR MOHAN LAL Digitally signed by JITENDRA KUMAR MOHAN LAL Date: 2024.01.25 17:31:41 +05'30'

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

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

a.	turnover etc.	Name of the target entity details in brief such as size, Exide Energy Solutions Limited (EESL), an existingwhollyownedsubsidiaryof ExideIndustriesLimited (EIL) was incorporated on 24th March2022andwillbeengagedthebusinessofmmanufacturing & selling lithium-ion battery cells,modules and packs for India's electric vehiclemarket and stationary applications. Some of therelevant details ofEESL are given below:
		Paid up equity share capital as on date: Rs.666.33 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. 59.81 crore
		As on date, the total investment by Exide IndustriesLimited in the equity share capital of EESLincluding share premium stands to Rs 1,870.01crore.
b.	Whether the acquisition would fall within relatedparty transaction(s) and whether the promoter/promoter group/ group companies have any interestin the entity being acquired?	Yes, since EESL is a wholly owned subsidiary ofEIL. EESL has allotted 161,29,033 equity shares ofRs. 10/- eachat a premium of Rs. 21/- per shareaggregating to Rs. 50,00,00,023/- on rights basis toEIL.
	If yes, nature of interest and details thereof andwhether the same is done at "arm's length"	Save & except what is mentioned above, thePromoter/promoter group/group companies have nointerest in the transaction.The said transaction is at arm's length.
c.	Industry to which the entity being acquired belongs	Manufacturing battery cells of advanced chemistryand form factor, including but not limited tocylindrical, pouch, prismatic, (the "Battery Cells"),as well as manufacturing, assembling, sellingbattery modules, battery packs and other relatedactivities thereto.
d.	Objects and effects of acquisition (including but notlimited to, disclosure of reasons for acquisition of manufacturing & selling lithium-ion battery cells,target entity, if its business is outside the main lineof business of the listed entity)	EESL is in the process of setting up a plant formodules and pack business.

		The Company has made further investment bysubscribing to equity shares offered by EESL on arights basis to fund its green field project and meetvarious funding requirements.With the current investment, EIL shareholding in
		EESL remains unchanged at 100%
e.	Brief details of any governmental or regulatoryapprovals required for the acquisition	None
f.	Indicativetime periodforcompletionof theacquisition	The equity shares against the current investmentwere allotted on 25th January 2024
b0 "	Nature of consideration whether cash considerationor share swap and details of the same	Cash
h.	Cost of acquisition or the price at which the sharesare acquired	1,61,29,033 equity shares of Rs. 10/-each at apremium of Rs. 21/- per share aggregating to Rs.50,00,00,023/-.
I.	Percentage of shareholding I control acquired and /or number of shares acquired	With the current investment, EIL shareholding inEESL remains unchanged at 100%
J	Briefbackground about the entityacquiredmterms of products/line of business acquired, date ofincorporation, history of last 3 years turnover,country in which the acquired entity has presenceand any other significant information (in brief)	EESL was incorporated on 24th March 2022 and thebusiness objects of it are explained in point no. caboveTurnover for last 3 years are: NIL