KEC International Ltd. — M&A Activity 2021

Sep 18, 2021

KEC INTERNATIONAL LTD. RPG House 463, Dr. Annie Besant Road Worli, Mumbai 400030, India +91 22 66670200 www.kecrpg.com

September 18, 2021

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

Symbol: KEC

BSE Limited

Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai - 400 001

Scrip Code: 532714

Dear Sir/ Madam,

Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. 2015 ("SEBI Regulations")

This is to inform you that the Company has today entered into a definitive agreement to acquire 100% equity shares of Spur Infrastructure Private Limited, an Ahmedabad based EPC company engaged in setting up of cross country oil & gas pipelines and city gas distribution networks. The acquisition is expected to be completed within 60 days from the date of agreement subject to fulfilment of closing conditions of the said agreement.

Information required under Regulation 30 of SEBI Regulations is enclosed as Annexure- A .

This is for your information and records.

Thanking you,

Yours faithfully,

For KEC International Limited

Amit Kumar Digitally signed by Amit Kumar Gupta DN: c=IN, o=Personal, 2.5.4.20=b7e8678b2d6b381cb8f4761d9cbb4338253df2c8e93e8fcf768f8e86438a00a1, postalCode=400705, st=Maharashtra, serialNumber=de9bbd80d8994e4be9f0dd23991 44eba7e782d70287df6aad1994f0b522fa08a, Gupta cn=Amit Kumar Gupta Date: 2021.09.18 19:26:57 +05'30' Amit Kumar Gupta Company Secretary & Compliance Officer

End: As Above

Registered Office: RPG House, 463, Dr. Annie Besant Road Worli, Mumbai 400030, CIN: L45200MH2005PLC152061, India.

An Company

Annexure-A

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Information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015

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Sr. No Particulars Details
a) Name of the target entity, details in Spur Infrastructure Private Limited is a
brief such as size, turnover etc. Company engaged in setting up of cross
country oil & gas pipelines and city gas
distribution networks.
Issued, subscribed and Paid up equity share
capital: Rs. 30 lakhs divided into 3,00,000
equity shares of face value of Rs. 10 each.
Turnover: Rs. 104.37 Crore as on March 31,
2021
b) Whether the acquisition would fall No
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 “arms’ length”
c) Industry to which the entity being Oil & Gas pipelines EPC
acquired belongs
d) Objects and effects of acquisition The Company had entered into Oil & Gas
(including but not limited to, Pipeline EPC business and this acquisition is in
disclosure of reasons for acquisition line with its vision to strategically expand the
of target entity, if its business is business. This acquisition will strengthen the
outside the main line of business of Company’s position and accelerate growth in
the listed entity) this segment.
e) Brief details of any governmental or None
regulatory approvals required for the
acquisition
f) Indicative time period for completion Within 60 days from the date of definitive
of the acquisition agreement.
g) Nature of consideration - whether Cash consideration
cash consideration or share swap and
details of the same
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h) Cost of acquisition or the price at Enterprise value of Rs. 62 Crore, subject to
which the shares are acquired customary adjustments on closing.
i) Percentage of shareholding / control 100% paid up equity share capital of Spur
acquired and / or number of shares Infrastructure Private Limited consisting of
acquired
3,00,000 equity shares of face value of Rs. 10
per share.
j) Brief background about the entity Spur Infrastructure Private Limited,
acquired in terms of products/line of incorporated in India on March 01, 2016, is
business acquired, date of
engaged in setting up of cross country oil &
incorporation, history of last 3 years
gas pipelines and city gas distribution
turnover, country in which the
networks. In the last three years, Spur Infra
acquired entity has presence and any
has an annual revenue in excess of Rs. 100
other significant information (in brief)
crores, a profitable track record, technical
expertise, and experienced manpower.
Turnover of last 3 years
Year Turnover (Rs. In Crore)
FY 2019 132.12
FY 2020 123.51
FY 2021 104.37
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