Ion Exchange (India) Ltd — M&A Activity 2023

Apr 20, 2023

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April 20, 2023

To BSE Limited The Corporate Relationship Dept. P.J. Towers, Dalal Street Mumbai-400 001 Scrip Code: 500214

National Stock Exchange of India Limited Exchange Plaza, C-1, Block- G, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 Symbol: IONEXCHANG

Dear Sir/ Madam,

Subject: Disclosure under Regulation 30 of the Securities and Exchange Board of India “ ” (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) - Proposed acquisition

The Board of Directors of the Company, at its Meeting held today, i.e. 20[th] April, 2023, has inter alia considered and approved a proposal to invest and takeover a Target company namely - MAPRIL - Produtos Químicos e Maquinas Para a Industria, Lda which is located in Portugal. The Company shall invest approximately INR 24 crores (subject to closing adjustments) and acquire 11,11,500 equity shares equivalent to 100% of the issued and paid-up equity capital of MAPRIL - Produtos Químicos e Maquinas Para a Industria, Lda as per the Share Purchase Agreement to be executed.

The details required under Regulations 30 of the Listing Regulations read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015 are enclosed herewith and marked as Annexure I.

The above information is available on the website of the Company: www.ionexchangeglobal.com Kindly take the information on record.

Thanking You,

Yours faithfully, For Ion Exchange (India) Limited

MILIND Digitally signed by MILIND DATTATRAYA DATTATRAYA PURANIK PURANIK Date: 2023.04.20 14:08:22 +05'30'

Milind Puranik Company Secretary

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ANNEXURE-I

Disclosure of acquisition (including agreement to acquire) in terms of Listing Regulations read with Part A Schedule III of the Listing Regulations

Sl. No.	Particulars	Details
1.	Name of the target entity, details in brief such as size, turnover etc	MAPRIL - Produtos Químicos e Maquinas Para a Industria, Lda Paid up Share capital: 11,11,500 Euros Turnover: F.Y Jan – Dec 2022: 10.62 Million Euros
2.	Whether the acquisition would fall within related party transaction and whether the promoter/ promoter group 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”	No The promoters / promoter group does not have any interest in the entity being acquired.
3.	Industry to which entity being acquired belongs	Water treatment, chemical and equipments.
4.	Objects and effect of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if the business is outside the main line of business of the listed entity).	This synergy will give the company a strong footing in European market. The shareholding in the target company shall be 100%.
5.	Brief details of any government and regulatory approvals required for the acquisition.	No
6.	Indicative time-period for completion of the acquisition	On or before 30thof June 2023, subject to completion of closing condition
7.	Nature of consideration whether cash consideration or share swap and details of the same	Cash consideration
8.	Cost of acquisition or the price at which shares being acquired	26,62,252 Euros This is subject to closing adjustments.

MILIND Digitally signed by MILIND DATTATRAYA DATTATRAY PURANIK Date: 2023.04.20 A PURANIK 14:09:00 +05'30'

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9.	Percentage of shareholding/ control acquired and/ or number of shares acquired	The Company is acquiring 100% of the shares of the target company aggregating to 11,11,500 equity shares.
10.	Brief background about the entity acquired in terms of product/ line of business acquired, date of incorporation, history of last three years turnover, country in which acquired entity has presence and other significant information	Brief background: Name of the Target Company - Mapril – Produtos Químicos e Máquinas para a Indústria, Lda Line of business: Water treatment chemicals and equipments. Date of Incorporation: 8thJune,1979 Consolidated turnover of last 3 years: Jan – Dec 2020: 8.11 Million Euros (Audited) Jan – Dec 2021: 7.81 Million Euros (Audited) Jan – Dec 2022: 10.62 Million Euros (Audited) Country in which the acquired entity has presence: Portugal.

MILIND Digitally signed by MILIND DATTATRAYA DATTATRAY PURANIK Date: 2023.04.20 A PURANIK 14:09:16 +05'30'

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