H.G. Infra Engineering Limited — Capital/Financing Update 2024

May 29, 2024

29-05-2024

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HGIEL/HO/COMPLIANCE/2024-25/120

BSE Limited

National Stock Exchange of India Limited

Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400 001

Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai- 400 001 Mumbai- 400 051 Scrip Code- 541019/973671 Scrip Symbol- HGINFRA

Dear Sir/Madam,

- Sub: Incorporation of a step down subsidiary company

Pursuant to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that H.G. Solar Projects Private Limited, a wholly owned subsidiary of H.G. Infra Engineering Limited, has incorporated a wholly owned subsidiary, namely H.G. Behror Solar Project Private Limited.

The details required under Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular No. SEBI/HO/CFD/CFD-PoD1 /P/CIR/2023/123 dated July 13, 2023, are enclosed as Annexure A .

This is for your information and records.

Thanking you,

Yours faithfully,

For H.G. Infra Engineering Limited

ANKITA Digitally signed by ANKITA MEHRA MEHRA Date: 2024.05.29 14:52:22 +05'30' Ankita Mehra Company Secretary & Compliance Officer ACS No. - 33288

Encl.: As above

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Annexure A

INCORPORATION OF A STEP-DOWN SUBSIDIARY COMPANY

Sr. No	Particulars	Details
a)	Name of the target entity, details in brief such as size, turnover etc.	H.G. Behror Solar Project Private Limited (CIN- U35100RJ2024PTC094803) Authorized, Subscribed and Paid-up share capital: Rs. 1,00,000/- divided into 10,000 equity shares of Rs. 10/- each. Turnover: Not applicable (Yet to commence business operations)
b)	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 transaction may be considered a Related Party transaction as the investment is in the step-down subsidiary as a 100% subsidiary of H.G. Solar Projects Private Limited (a wholly owned subsidiary of H.G. Infra Engineering Limited (the “Company”). Ms. Ridhima Choudhary and Ms. Poonam Singh Choudhary, directors of H.G. Behror Solar Project Private Limited, belong to the promoter and promoter group of the Company. The shares have been subscribed at par and at arm’s length.
c)	Industry to which the entity being acquired belongs	Renewable Power
d)	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)	H.G. Behror Solar Project Private Limited will carry out business in the field of Renewable Power. Impact of acquisition: As it is a newly incorporated company, there is no impact on the Company as of now.
e)	Brief details of any governmental or regulatory approvals required for the acquisition	Not Applicable
f)	Indicative time period for completion of the acquisition	Not Applicable
g)	Consideration - whether cash consideration or share swap or any other form and details of the same	Cash Consideration
h)	Cost of acquisition and/or the price at which the shares are acquired	Initial subscription to the share capital of Rs. 1,00,000/- divided into 10,000 Equity Shares of Rs. 10/-each.
i)	Percentage of shareholding / control acquired and / or number of shares acquired	100% investment by H.G. Solar Projects Private Limited, a wholly-owned subsidiary of the Company.

ANKITA Digitally signed by ANKITA MEHRA Date: 2024.05.29 MEHRA 14:52:39 +05'30'

j) Brief background about the entity acquired in H.G. Behror Solar Project Private Limited is terms of products/line of business acquired, date incorporated on May 28, 2024, under the provisions of incorporation, history of last 3 years turnover, of the Companies Act, 2013, having its registered country in which the acquired entity has office in the State of Rajasthan. Its main object is to presence and any other significant information carry out business in the field of Renewable Power. (in brief) History/Turnover: Not applicable (Yet to commence business operations)

Digitally signed ANKITA by ANKITA MEHRA MEHRA Date: 2024.05.29 14:52:51 +05'30'