Exide Industries Ltd. — M&A Activity 2023

Feb 28, 2023

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JITENDRA Digitally signed by JITENDRA KUMAR KUMAR MOHAN LAL Date: 2023.02.28 MOHAN LAL 14:37:17 +05'30'

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a.b.	Nameofthe target entity, details inbriefsuchassize, turnover	Targetcompany:UlricRenewablesPrivate LimitedDetails in brief such as size, turnoverofthe target company:ThetargetcompanyISanewlyincorporated company formed on17thJanuary 2023and yet to start anycommercial operations.	Targetcompany:UlricRenewablesPrivate LimitedDetails in brief such as size, turnoverofthe target company:ThetargetcompanyISanewlyincorporated company formed on17thJanuary 2023and yet to start anycommercial operations.
	Whether the acquisition would fall withinrelated party transaction(s) and whetherthe promoter/ promoter group/ groupcompanies have any interest in the entitybeing acquired?Ifyes, natureofinterestand details thereof and whether the sameis done at"arm'slength"	The proposed transaction does not fallwithin Related Party Transaction.Noneofthe promoter/ promoter group/group companies have any interest in theproposedtransactioninvolvingsubscription in the equity share capitalofthe Target company.
C.	Industry to which the entity beingacquired belongs	Generationofelectricityusmgnon-conventional and renewable sourcesofenergy
d.	Objects and effectsofacquisition	In order to qualify as a captive consumer,the CompanyISrequired to subscribeatleast 26%ofthe total equity capitaloftheTarget company.Accordingly,theobjectiveofthisinvestment is to promote renewable energym the operationsofthe Company byqualifyingilf;ucu_µti vwc01wu111w1.Fu1tl1w1,the current arrangement will also optimiseoverall power cost at the Maharashtra andTamil Nadu basedplants..
e.	Briefdetailsofany governmental orregulatory approvals required for theacquisition	None
f.	Indicative time period for completionofthe AcquisitionNalureofeunsiueraliun	Before31 stMarch 2023Cash
g.
h.	Costofacquisition or the price at whichthe shares are acquired	The Company has agreed to invest amo'untupto Rs. 19.85 crore in the equity sharecapitalofthe Target company, in one ormore tranches.
	Percentageofshareholding / controlacquired and / or numberofsharesacquiredExide Industries Limited	The proposed investment would constitutearound 39.08%ofthe total paid-up equityshare capitalofthe Target company.
EXIDEExide House 59EChowringheeRoad Kolkata 700 020

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JITENDRA Digitally signed by JITENDRA KUMAR MOHAN KUMAR MOHAN LAL Date: 2023.02.28 14:38:16 LAL +05'30'

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