GAIL (India) Limited — Capital/Financing Update 2021

Feb 19, 2021

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S.No.	OBSERVATION	COMPLIANCE STATUS
1	Whether the acquisition would Acquisition would not fall within related partyfallwithinrelatedparty transactions and the promoter/ promoter group/transactions and whether the group companiesdonot have any interestinpromoter/ promoter group/ group Indian Gas Exchange Limited (IGX). 90%ofthecompanies have any interest in shareholdingoflGXisheld by M/s Indian Energythe entity being acquired?Ifyes, Exchange Limited**(IEX)**and the remaining10%natureofinterest and detailsofits shareholdingisheld by others.thereof and whether the sameisdone at "arm's length";Proposed transaction1.e.,acquisitionof5%equity in IGX (outof90%shareholdingoflEXinIGX) by GAIL shall be made at arm's length.
2	Objects and effectsofacquisition Proposed acquisitionof5% equity stake in IGXis(including but not limitedto, within mainline businessofthe Company.disclosureofreasonsforacquisitionoftarget entity,ifitsbusinessisoutside the main lineofbusinessofthe listed entity);

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3	Briefdetailsofany governmentalor regulatory approvals requiredforthe acquisition	Nogovernmentalorregulatoryapprovalsrequired for the proposed acquisition.
4	Indicativetimeperiodforcompletionofthe acquisition	Share Purchase and Shareholders Agreement(SP SHA) was signed on 09.02.2021. Completionofthe acquisition is expected by19.02.2021.
5	Costofacquisition or the price atwhich the shares are acquired	GAIL is acquiring 5% equity sharesofIGX fromIEX (36,93,750 equity sharesofRs. 10/- each) atpar value with a Purchase ConsiderationofRs.3,69,37,500/-only.
6	Natureofconsideration - whethercash consideration or share swapand detailsofthe same;	The natureofconsideration wouldbecashconsideration.