Garuda Construction and Engineering Limited — Capital/Financing Update 2025

Jun 17, 2025

Date: June 17, 2025

To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejebhoy Towers “Exchange Plaza” Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400051 Scrip Code (BSE): 544271 Symbol: GARUDA

Sub.: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) – Regulations, 2015 Incorporation of a wholly owned subsidiary Company (WOS) in Saudi Arabia.

Dear Sir / Madam,

We refer to our intimation reference no. SEC/SE/085/24-25 dated November 14, 2024 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board in its meeting held today i.e. June 17, 2025, approved the proposal to invest SAR 1,000,000 (One Million Saudi Riyals Only) in the Capital of “Garuda Arabia Limited (Limited Liability Company)”, Saudi Arabia, as Paid-up Share Capital, thereby, it will be the Wholly Owned Subsidiary of the Company post investment.

The details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/ 2023/123 dated July 13, 2023, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024, are mentioned below as Annexure-1.

The above information shall also be made available on Company’s website https://garudaconstructionengineering.com/.

Request you to please take the details on record

For Garuda Construction and Engineering Limited

PRAVIN KUMAR BRIJENDRA Digitally signed by PRAVIN KUMAR BRIJENDRA KUMAR KUMAR AGARWAL AGARWAL Pravin Kumar Brijendra Kumar Agarwal Managing Director and Chairman DIN: 00845482

Encl.: as above

Annexure I

Details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD2/CIR/P/2024/185 dated December 31, 2024.

	Sr.N o	Particulars	Details
	1.	Name(s) of the target entity, details in brief such as size, turnover etc.	“Garuda Arabia Limited (Limited Liability Company)” Paid-up Share Capital: SAR 1,000,000/- (One Million Saudi Riyals Only). Turnover:Not applicable since Garuda Arabia Limited (Limited Liability Company) is yet to commence its business operations.
	2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”;	The wholly owned subsidiary (WOS) Company will be a related party of Garuda Arabia Limited (Limited Liability Company) post investment. Save and except what is mentioned above, the Promoter/ Promoter Group/ Group Companies are interested in the new entity. Nature of interest- Common Directorship. The transactions, if any, with the WOS shall be at an arm's length basis.
	3.	Industry to which the entity being acquired belongs;	Construction
	4.	Objects and impact of acquisition (Including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	The Company is Incorporated in Saudi Arabia, to provide construction services.
	5.	Brief details of any governmental or regulatory approvals required for the acquisition;	Not Applicable

			Not Applicable 100% subscription to the paid-up share capital of Garuda Arabia (Limited Liability Company) will be held by Garuda Construction and Engineering Limited. SAR 1,000,000/- (One Million Saudi Riyals Only) SAR 1,000,000/- (One Million Saudi Riyals Only) – 100% Post investment in the paid-up share capital of Garuda Arabia Limited (Limited Liability Company), it will become the wholly owned subsidiary of Garuda Construction and Engineering Limited, incorporated in Saudi Arabia. The main objective of the subsidiary Company is to provide construction services.
	6. Indicative time period for completion of the acquisition;		Not Applicable
	7. Consideration - whether cash consideration or share swap or any other form and details of the same;		100% subscription to the paid-up share capital of Garuda Arabia (Limited Liability Company) will be held by Garuda Construction and Engineering Limited.
	8. Cost of acquisition and/or the price at which the shares are acquired;		SAR 1,000,000/- (One Million Saudi Riyals Only)
	9. Percentage of shareholding / control acquired and / or number of shares acquired;		SAR 1,000,000/- (One Million Saudi Riyals Only) – 100%
	10	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	Post investment in the paid-up share capital of Garuda Arabia Limited (Limited Liability Company), it will become the wholly owned subsidiary of Garuda Construction and Engineering Limited, incorporated in Saudi Arabia. The main objective of the subsidiary Company is to provide construction services.

Thanking You. Yours Faithfully

For Garuda Construction and Engineering Limited

PRAVIN KUMAR Digitally signed by PRAVIN BRIJENDRA KUMAR KUMAR BRIJENDRA AGARWAL KUMAR AGARWAL Pravin Kumar Brijendra Kumar Agarwal Managing Director and Chairman DIN: 00845482