Grindwell Norton Ltd. — M&A Activity 2022

May 7, 2022

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May 7, 2022

National Stock Exchange of India Limited “Exchange Plaza” Bandra Kurla Complex Bandra (East) Mumbai 400 051

Symbol: GRINDWELL

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Fort Mumbai 400 001 Scrip Code No. 506076

Dear Sir/Madam,

Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Board Meeting held on May 6, 2022

The Board approved the execution of the Share Purchase Agreement (“SPA”) with the existing shareholders of PRS Permacel Private Limited for the acquisition of 100% equity shares for a consideration of Rs. 1220 Million (subject to closing adjustments).

The disclosures pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Part A of Schedule III of the aforesaid regulations, is attached as per ‘Annexure A’.

Kindly take the same on record.

Thanking you,

Yours faithfully, For Grindwell Norton Limited

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K. Visweswaran Company Secretary Membership No. A16123

Encl: As above.

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Annexure ‘A’

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Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

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a) Name of the target entity, details in brief i) Name of the Target:
such as size, turnover etc.; PRS Permacel Private Ltd (Target)
ii) Details of the Target:
PRS Permacel is engaged in manufacturing and
marketing of aesthetic decals, other adhesive
tapes etc. in India.
April 2020 – March 2021:
Sales: Rs. 126.18 crore
Net Profit: Rs. 2.34 crore
b) Whether the acquisition would fall within No
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 “arms-length”;
c) Industry to which the entity being acquired Engineering Industry
belongs;
d) Objects and effects of acquisition (including Broadening the product portfolio and alignment with
but not limited to, disclosure of reasons for the global business interests
acquisition of target entity, if its business is
outside the main line of business of the listed
entity);
e) Brief details of any governmental or Not Applicable
regulatory approvals required for the
acquisition
f) Indicative time period for completion of the May/June 2022
acquisition;
g) Nature of consideration - whether cash Cash Transaction
consideration or share swap and details of the
same;
h) Cost of acquisition or the price at which the Rs. 122 crore subject to closing adjustments
shares are acquired;
i) Percentage of shareholding / control acquired The Company will acquire 100% equity shares of the
and / or number of shares acquired; Target
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j) 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)		Brief background: PRS Permacel Private Limited is an unlisted company engaged in manufacture of aesthetic decals and other adhesive tapes etc. in India. Date of Incorporation: June 1999 Turnover of last 3 years: (Rs crores) 2020-21 2019-20 2018-19 126.18 135.00 148.76 Country in which the acquired entity has a presence: India

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