Grasim Industries Ltd — Capital/Financing Update 2021

Oct 13, 2021

==> picture [102 x 85] intentionally omitted <==

==> picture [102 x 17] intentionally omitted <==

Ref No: GIL/CFD/SEC/22/100/SE

13[th] October 2021

BSE Limited Dalal Street, Phiroze Jeejeebhoy Towers, Mumbai 400 001 Scrip Code: 500300

The National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor, Plot No. C/1, G Block,Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Symbol: GRASIM

Dear Sirs,

Sub: Intimation of Execution of Supplemental Share subscription agreement and Power Purchase Agreement

With reference to the captioned subject and pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [Listing Regulations], we would like to inform you that the Company has executed a Supplemental Share Subscription Agreement with Renew Green Energy Solutions Private Limited (Renew) & Renew Surya Uday Private Limited and Power Purchase Agreement with Renew Surya Uday Private Limited (Power Producer). This is further to the intimation dated 7[th] August 2021 for Execution of Share Subscription and Shareholders’ Agreement and Power Purchase Agreement.

The disclosure as required under Schedule III of the Listing read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9[th] September, 2015 is also attached as Annexure '1' to this letter.

Thanking you

Your sincerely,

For Grasim Industries Limited

Sailesh Digitally signed by Sailesh Kumar Daga Kumar Daga Date: 2021.10.13 14:12:20 +05'30' Sailesh Daga Company Secretary FCS-4164

Encl: as above

Cc: Luxembourg Stock Exchange

Market & Surveillance Dept., P.O. Box 165, L-2011 Luxembourg, Grand Duchy of Luxembourg, EUROPE

Citi Bank N.A. Citi Bank N.A. Depositary Receipt Services Custodial Services 388 Greenwich Street, FIFC, 11[th] Floor, C-54 & 55, G Block 14[th] Floor, New York, Bandra Kurla Complex NY 10013 Bandra (East), Mumbai 400 051

Grasim Industries Limited Aditya Birla Centre, ‘A’ wing, 2[nd ] Floor, S.K. Ahire Marg, Worli, Mumbai 400 030, India T: +91 22 6652 5000 / 2499 5000 | F: +91 22 6652 5114 / 2499 5114 E: grasim.secretarial@adityabirla.com | W: www.grasim.com | CIN: L17124MP1947PLC000410

Regd. Office : Birlagram, Nagda – 456 331 (M.P.)

Annexure-1

==> picture [102 x 85] intentionally omitted <==

==> picture [102 x 17] intentionally omitted <==

Sr. No.	Particulars
a)	Name(s) of parties with whom the agreement is entered	Grasim Industries Limited (“Grasim”) and RENEW SURYA UDAY PRIVATE LIMITED(“Power Producer”).
b)	Purpose of entering into the agreement	The purpose of entering into the agreement is to operate and maintain 16.68 MW Wind-Solar Hybrid power plant in the State of Gujarat (the “Project”) wherein the power generated will be supplied exclusively to Grasim under the Captive Rules. The Project will be operated by Renew Surya Uday Private Ltd (Power Producer). This is further to the agreement dated 7thAugust 2021 to operate & maintain 17.6 MW Wind-Solar Hybrid power plant. Combined capacity for the Wind-Solar Hybrid power plant to be 34.28 MW.
c)	Shareholding, if any, in the entity with whom the agreement is executed	Grasim – 26% Renew Green Energy Solutions Private Limited(Renew)– 74%
d)	Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc.	Power Producer shall have rights to operate the said Project. Grasim shall have rights over reserved matter. Both the parties shall have voting rights proportionate to their shareholding in Renew Surya Uday Private Ltd.
e)	Whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship	No
f)	Whether the transaction would fall within related party transactions? Ifyes,whether the same is done at “arm’s length”	No
g)	In case of issuance of shares to the parties, details of issue price, class of shares issued	Capital of Renew Surya Uday Private Ltd will be Rs. 55.81 Crore which will be contributed by Grasim Rs. 14.51 Crore (26%) and by Renew Rs. 41.30 Crore (74%) in phases. This is further to the agreement dated 7thAugust 2021 for capital of Rs 58.89 Crore contributed by Grasim Rs 15.31 Crore. (26%) and by Renew Rs 43.58 Crore (74%).

Grasim Industries Limited

Aditya Birla Centre, ‘A’ wing, 2[nd ] Floor, S.K. Ahire Marg, Worli, Mumbai 400 030, India T: +91 22 6652 5000 / 2499 5000 | F: +91 22 6652 5114 / 2499 5114 E: grasim.secretarial@adityabirla.com | W: www.grasim.com | CIN: L17124MP1947PLC000410

Regd. Office : Birlagram, Nagda – 456 331 (M.P.)

==> picture [102 x 85] intentionally omitted <==

==> picture [102 x 17] intentionally omitted <==

Sr. No.	Particulars
		Total Capital will be Rs 114.70 Crore and Grasim will contribute Rs 29.82 Crore and Renew will contribute Rs 84.88 Crore for combined capacity for the Wind-Solar Hybridpowerplant to be 34.28 MW.
h)	Any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements, etc.	No Potential Conflict of Interest arising out of this Agreement.
i)	In case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange(s): a) name of parties to the agreement; b) nature of the agreement; c) date of execution of the agreement; d) details of amendment and impact thereof or reasons of termination and impact thereof.	Not Applicable

Grasim Industries Limited

Aditya Birla Centre, ‘A’ wing, 2[nd ] Floor, S.K. Ahire Marg, Worli, Mumbai 400 030, India T: +91 22 6652 5000 / 2499 5000 | F: +91 22 6652 5114 / 2499 5114

E: grasim.secretarial@adityabirla.com | W: www.grasim.com | CIN: L17124MP1947PLC000410

Regd. Office : Birlagram, Nagda – 456 331 (M.P.)