ITC Ltd — Capital/Financing Update 2024

Oct 1, 2024

ITC Limited Virginia House 37 J. L. Nehru Road Kolkata 700 071, India Tel. : 91 33 2288 9371 Fax : 91 33 2288 4016 / 1256 / 2259 / 2260

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1[st] October, 2024

The Manager The General Manager Listing Department Dept. of Corporate Services National Stock Exchange of BSE Ltd. India Ltd. P. J. Towers Exchange Plaza Dalal Street Plot No. C-1, G Block Mumbai 400 001 Bandra-Kurla Complex Bandra (East) Mumbai 400 051

The Secretary The Calcutta Stock Exchange Ltd. 7, Lyons Range Kolkata 700 001

Dear Sirs,

Acquisition of shares of Blazeclan Technologies Private Limited

This has reference to our letter dated 18[th] April, 2024 on the subject.

We have been advised by ITC Infotech India Limited, a wholly owned subsidiary, at 9.23 p.m. today, that they have acquired 100% of the share capital of Blazeclan Technologies Private Limited (Blazeclan). Consequently, Blazeclan and its following subsidiaries have become step-down wholly owned subsidiaries of the Company with effect from 1[st] October, 2024:

• 1. Cloudlytics Technologies Private Limited, India
• 1. Blazeclan Technologies PTE Ltd., Singapore
• 1. Blazeclan Technologies SDN. BHD., Malaysia
• 1. Blazeclan Technologies Pty. Ltd., Australia
• 1. Blazeclan Europe SRL., Belgium
• 1. Blazeclan Technologies Limited, New Zealand
• 1. Blazeclan Technologies Inc., Canada
• 1. Blazeclan Technologies LLC, USA
• 1. Blazeclan Americas Inc., USA
• 1. Blazeclan Technologies Corporation, Philippines

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular dated 13[th] July, 2023.

Yours faithfully, ITC Limited RAJENDRA Digitally signed by RAJENDRA KUMAR KUMAR SINGHI SINGHI Date: 2024.10.01 21:29:41 +05'30'

(R. K. Singhi) Executive Vice President & Company Secretary

Enclosed: a/a

FMCG ⚫ HOTELS ⚫ PAPERBOARDS & PACKAGING ⚫ AGRI-BUSINESS ⚫ INFORMATION TECHNOLOGY

Visit us at www.itcportal.com ⚫ Corporate Identity Number : L16005WB1910PLC001985 ⚫ e-mail : enduringvalue@itc.in

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cc: Securities Exchange Commission Division of Corporate Finance Office of International Corporate Finance Mail Stop 3-9 450 Fifth Street Washington DC 20549 U.S.A. cc: Societe de la Bourse de Luxembourg 35A Boulevard Joseph II L-1840 Luxembourg

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Sl.No.	Particulars	Disclosures
1.	Name of the target entity	Blazeclan Technologies Private Limited (Blazeclan).
2.	Whether the acquisition would fallwithinrelatedpartytransaction(s)?Whether the promoter/ promotergroup/ group companies have anyinterestintheentitybeingacquired? If yes, nature of interestand details thereof and whetherthe same is done at ‘arm’s length’	No.No - The Company does not have any promoter / promotergroup. The group companies do not have any interest in theproposed acquisition.
3.	Industry to which the entity beingacquired belongs	Information Technology & Information TechnologyEnabled Services (IT/ITES).
4.	Objects and impact of acquisition(including but not limited to,disclosureofreasonsforacquisition of target entity, if itsbusiness is outside the main line ofbusiness of the listed entity)	As advised earlier vide our letter dated 18th April, 2024,Blazeclan is a born-in-the-cloud consulting companyproviding cloud services on AWS, Azure and GCP, and hasbeen recognised as a Niche Player in the 2023 Gartner®Magic Quadrant for Public Cloud IT TransformationServices.This acquisition is expected to augment ITC Infotech’scapabilities to service its customers in a multi-cloud andhybrid cloud environment with a focus on thePartner eco-system to accelerate future growth.The acquisition is expected to strengthen ITC Infotech’scommitment to helping clients navigate their digitaltransformation journey and deliver business outcomes builton the foundation of strong Cloud capabilities.Consequent to the aforesaid acquisition, Blazeclan and itssubsidiaries viz., Cloudlytics Technologies PrivateLimited, India, Blazeclan Technologies PTE Ltd.,Singapore, Blazeclan Technologies SDN. BHD., Malaysia,Blazeclan Technologies Pty. Ltd., Australia, BlazeclanEurope SRL., Belgium, Blazeclan Technologies Limited,New Zealand, Blazeclan Technologies Inc., Canada,Blazeclan Technologies LLC, USA, Blazeclan AmericasInc., USA, and Blazeclan Technologies Corporation,Philippines, have become step-down wholly ownedsubsidiariesoftheCompanywitheffectfrom1stOctober, 2024.
5.	Brief details of any governmentalor regulatory approvals requiredfor the acquisition	None.

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	Sl.No.6. 7. 8.	ParticularsIndicativetimeperiodforcompletion of the acquisitionConsideration - whether cashconsideration or share swap or anyother form and details of the sameCost of acquisition and / or theprice at which the shares areacquired	ParticularsIndicativetimeperiodforcompletion of the acquisitionConsideration - whether cashconsideration or share swap or anyother form and details of the sameCost of acquisition and / or theprice at which the shares areacquired	ParticularsIndicativetimeperiodforcompletion of the acquisitionConsideration - whether cashconsideration or share swap or anyother form and details of the sameCost of acquisition and / or theprice at which the shares areacquired		DisclosuresITC Infotech India Limited (I3L) has completedacquisition of 100% of the share capital of Blazeclan todayi.e. on 1stOctober, 2024.Cash.Total consideration – up to INR 485 crores, includingcontingent consideration subject to achievement ofperformance targets as set out in the Share PurchaseAgreement.	DisclosuresITC Infotech India Limited (I3L) has completedacquisition of 100% of the share capital of Blazeclan todayi.e. on 1stOctober, 2024.Cash.Total consideration – up to INR 485 crores, includingcontingent consideration subject to achievement ofperformance targets as set out in the Share PurchaseAgreement.	DisclosuresITC Infotech India Limited (I3L) has completedacquisition of 100% of the share capital of Blazeclan todayi.e. on 1stOctober, 2024.Cash.Total consideration – up to INR 485 crores, includingcontingent consideration subject to achievement ofperformance targets as set out in the Share PurchaseAgreement.	DisclosuresITC Infotech India Limited (I3L) has completedacquisition of 100% of the share capital of Blazeclan todayi.e. on 1stOctober, 2024.Cash.Total consideration – up to INR 485 crores, includingcontingent consideration subject to achievement ofperformance targets as set out in the Share PurchaseAgreement.	DisclosuresITC Infotech India Limited (I3L) has completedacquisition of 100% of the share capital of Blazeclan todayi.e. on 1stOctober, 2024.Cash.Total consideration – up to INR 485 crores, includingcontingent consideration subject to achievement ofperformance targets as set out in the Share PurchaseAgreement.
	9.	Percentageofshareholding/control acquired and**_/_or number**of shares acquired				I3L has acquired 100% of the share capital of Blazeclan.
						Blazeclan is an AWS Premier Partner, Snowflake ElitePartner and a leader in providing Cloud transformationsolutions to customers globally. The company has strongexpertise in Cloud Migration, Digital Services, DigitalCloud Consulting and Data Analytics & Insights.Other details are as follows:Products**_/_line of**business of the targetentityCloudservicesincludingCloudMigration,DigitalServices,DigitalCloudConsulting and Data Analytics& Insights and license resaleDate of incorporation25thMay 2010Last3years’**turnover ** as per AccountingStandards applicable toBlazeclan.2023-24INR 294.57 crores2022-23INR 249.51 crores2021-22INR 192.54 croresCountryofoperationsIndia, Singapore, Australia,Malaysia,Philippines,New Zealand, Belgium, USAand Canada.
	10.	Bacof	rief background about the entitquired in terms of products**_/_lin**business acquired, date o	yef		Blazeclan isPartner and asolutions to c	an AWS Premier Partner,leader in providing Clouustomers globally. The com			Snowflaked transformpany has s
		in3th	corporation,historyoflasyears turnover, country in whice acquired entity has presenc	the		expertise inCloud Consul	Cloud Migration, Digital Sting and Data Analytics & I			ervices, Dnsights.
		andanyothersignificantinformation (in brief)
						Products**_/_line of**business of the targetentity		CloudservicesincludingCloudMigration,DigitalServices,DigitalCloudConsulting and Data Analytics& Insights and license resale
						Date of incorporation		25thMay 2010
						Last3years’**turnover ** as per AccountingStandards applicable toBlazeclan.		2023-24	INR 294.57 crores
								2022-23	INR 249.51 crores
								2021-22	INR 192.54 crores
						Countryofoperations		India, Singapore, Australia,Malaysia,Philippines,New Zealand, Belgium, USAand Canada.