Indag Rubber Ltd. — Capital/Financing Update 2023

Jul 14, 2023

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lndag Rubber Limited

Regd.Office :Khemka House, 11, Community Centre, Saket, New Delhi ꞏ110017, India Phone :26963172-73, 26961211, 26663310, 41664618, 41664043, Fax : 011- 26856350 E-mail :info@indagrubber.com, Website: www.indagrubber. com, CIN-L74899DL1978PLC009038

Works :Village Jhiriwala,Tehsil, Nalagarh,Distt. Solan, Himachal Pardesh - 174101,India Phone :09736000123

ISO900 1: 2015 ISO14001 : 2015

July 14, 2023

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001.

(Company code‐1321) (Scrip code‐509162)

Subject: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

This is to inform you that based on the recommendation of the Audit Committee, the Board of Directors of the Company has, in its meeting held on July 14, 2023, approved strategic investment in Indergy Power Systems Private Limited (the “Investee Company”) by acquiring and/ or subscribing to equity and/ or preference shares equivalent to 51% of the issued and paid-up Share Capital of the Investee Company (i.e. investment of Rs. 11.1 Crores) by March 31, 2026, in one or more tranches.

The details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI’s Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed as Annexure.

The enclosed disclosure is also made available on Company’s website under link:

https://indagrubber.com/investorrelation/detail/2/16

This is for your information and records.

Thanking you,

FOR INDAG RUBBER LIMITED

MANAL

Digitally signed by MANALI D BIJLANI DN: c=IN, st=Delhi, 2.5.4.20=f661c7d662f28e9ab4037a5f1132 d9a5b8e0cdf860d7f985500e4cf0a6712964 , postalCode=110092, street=C-37 ANAND VIHAR, SHAKARPUR BARAMAD, EAST DELHI,DELHI,Delhi-110092, I D pseudonym=7b12574e467e2891faaca0c6230ac196, serialNumber=647cf315c520526a2b1842d c05e973f9fa96588b318254766e4c8cfecd8 BIJLANI 3ee1c, o=Personal, cn=MANALI D BIJLANI Date: 2023.07.14 18:32:29 +05'30' Manali D. Bijlani Company Secretary

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Annexure

Disclosure under sub‐para (1) [i.e. Acquisition(s) (including agreement to acquire)] of Para (A) of Part (A) of Schedule III to the Regulation 30 SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

S. No.		Particulars
a.	Name of the target entity	Indergy Power Systems Private Limited (“Investee Company”)
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	The first tranche of investment shall not fall within the ambit of Related Party Transaction, as the target company is not a related party as on the date of investment. However, subsequent investments in share capital of the Target/ Investee Company (after becomes subsidiary of the Company) shall be considered as Related Party Transactions. Remaining share capital of the Target/ Investee Company (49% of the paid-up share capital) would be subscribed by two (2) other entities in equal proportion, which are Related Parties of the Company, as they are entities with common control of Promoters of the Company.
c.	Industry to which the entity being acquired belongs	The Target/ Investee Company is set up to carry out the business of manufacturing of power conversion system (PCS) for battery energy storage system (BESS) and power electronics and electronics in the green energy sector.
d.	Objects and effects 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)	One of the promoters owned entities, has identified an opportunity to enter into manufacturing of Power Conversion System (PCS) for Battery Energy Storage System (BESS), which was considered by the Board of the Company. As a part of Company’s diversification Strategy, the Board evaluated the aforesaid business model, which is a fast-growing and high-demand industry with significant long-term growth potential. Since the Target/Investee Company provides a pathway to enter into new segment which is sustainable and has long-term growth potential, the Company proposes to invest/ acquire 51% shareholdingin the Investee company.

e.	Brief details of any governmental or regulatory approvals required for the acquisition	None
f.	Indicative time period for completion of the acquisition	The investment in equity and preference shares shall be made in one or more tranches, which is expected to be completed byMarch 31, 2026.
g.	Nature of consideration - whether cash consideration or share swap and details of the same	Cash
h.	Cost of acquisition or the price at which the shares are acquired	The acquisition/ subscription of shares shall be done at face value of Shares, i.e. Rs. 10/- per equity/ preference Share
i.	Percentage of shareholding / control acquired and / or number of shares acquired	The Company shall subscribe shares (equity and preference) equivalent to 51% of the issued and paid- up share capital of the Investee Company (i.e. investment of Rs. 11.1 Crores by March’ 2026 in one or more tranches).
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 entityhaspresence	Brief background: As given above Date of Incorporation: April 9, 2023 History of last 3 years turnover: Not applicable Countries in which acquired entity has presence: India