Gayatri Projects Limited — Capital/Financing Update 2020

Jan 2, 2020

January 02,2O2O

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Dear Sir/Madam,

of assets/shares held by Limited (GEVPL) - under Requiremets) Regulations, Sub: Completion of transaction with regard to disposal material subsidiary M/s. Gayatri Energy Ventures Private regulation 30 of SEBI (Listing Obligations and Disclosure 2015 Reg.,

Gavatri Proiects Announces Completion of SEIL Transaction Inflow of INR 4O6.77 Crores to be Primarily utilised towards pebl SedUgtten

Gayatri Projects Limited (*GPL" or the "CompaRy") announces that it has concluded the sale of its 5.95% stake in the power assets of Sembcorp Energy India Limited (*SEIL"), held through its material subsidiary Gayatri Energy Ventures Private Limited (*GEVPL"), for cash proceeds of INR 406.77 Crores. The company had signed a non-binding definitive agreement on December 04,2019 and has now successfully completed the said transaction.

The proceeds from the above sale INR 206.85 crores would be used towards repayment of Debentures issued by GEVPL to ECL Finance Limited and Edelweiss Credit Opportunities Fund and balance amount would be used for meeting the working capital requirements of the company and for other general corporate purpose.

The above transaction is based on a basic value of INR 7000 crores for SEIL. GPL will realise the full value of its stake whenever a market discovered value is available. So if SEIL goes for IPO, stake sale etc, GPL will receive the difference between the market value and base value of INR 7000 oores. GPL's management has been commltted towards balance sheet deleveraging and thls deal ls in hne with its stated strategy. lhe Conrpany is also nraking good progress towards monet¡sat¡on of its arbitration claims.

This is for your information and necessary dissemination

FOT GAYATRI PROJECTS LIMITED

T.V. SANDEEP KUMAR REDDY Managing Director

Regd. & Corp. Offico : Gayatri Projects L¡mited, 81, 6-3-1090, TSR Towers Raj Bhavan Road, Somajiguda, Hyderabad 500 082. T.S CIN: 199999TG1 989P1C057289

T +91 40 2331 0330 /428/- /4296 F +91 ¡10 2339 8¿lil5

E gplhyd@gayatri.co,in www.gayatri.co.¡n