Modern Insulators Ltd. — Capital/Financing Update 2024

Sep 17, 2024

Registered Office & Works : Talheti, Village : Karoli, Tehsil: Abu Road, Dist : Sirohi - 307510 ( Rajasthan ) India Phone : 02974 – 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLC002460 Email : milabu@moderninsulators.com

BSE Ltd.

Department of Corporate Services 1st Floor, New Trading Ring, Rotunda Building P J Towers, Dalal Street, Fort Mumbai - 400 001

Sub: Disclosure under Regulation 30 of SEBI (LODR), Regulations, 2015

Dear Sir/Ma’am,

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company in its meeting held today, i.e. August 17, 2024 approved to Invest in 138800 Equity Shares of Swiggy Limited for Rs. 360 per share.

The disclosures in respect of the said investment, as required under Regulation 30 of the SEBI Listing Regulations, read with Schedule III thereto and the SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, is also attached as Annexure - I to this letter.

This is for your information and records.

Thanking You,

For Modern Insulators Limited

PRADEEP Digitally signed by PRADEEP KUMAR KUMAR GOKHROO Date: 2024.09.17 GOKHROO 11:02:42 +05'30'

P.K. Gokhroo

Director DIN: 06810797

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Registered Office & Works : Talheti, Village : Karoli, Tehsil: Abu Road, Dist : Sirohi - 307510 ( Rajasthan ) India Phone : 02974 – 228044, 228045, 228046, 228047 www.moderninsulators.com CIN- L31300RJ1982PLC002460 Email : milabu@moderninsulators.com

Requisite details of the transaction

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Sr. Particulars
No.
1 Name of the target Company Swiggy Limited
2 Whether the transaction fall under the Related No, this transaction of acquisition of shares does not
Party transactions? If yes, whether the same is constitute a related party transaction
done at “arm’s length”.
3 Whether the promoter/promoter group/group As of date, the Company’s Promoters do not have any
companies have any interest in the entity being interest in Swigggy Limited.
acquired? If yes, nature of interest and details
thereof.
4 Industry to which the entity being acquired Swiggy is India’s leading technology platform operating
belongs; across diverse categories with large underlying markets,
like Food Delivery, Quick Commerce, Other Services
(Dine-out, B2b Offerings etc.)
5 Objects and effects of acquisitions (including This This equity ownership is made as a Long term
equity ownership is made but not limited to, investment
disclosure of reasons for as a Long-Term
investment. the acquisition of the target entity, if
its business is outside the main line of business of
the listed entity)
6 Brief details of any governmental or regulatory Not Applicable
approvals required for the acquisition.
7 Indicative time period for completion of this Approx 30-45 days
transaction
8 Nature of consideration and details for the same Cash consideration computed as purchase shares
138800 multiplied by purchase price per share Rs. 360
(Amt. invested is Rs. 499.68 lakhs)
9 Price at which the shares are purchased Rs. 360 Per share
10 Percentage of shareholding / control invested and 0.007%
/ or number of shares invested (Purchase Shares)
11 Brief background about the entity The Company Started in 2014. Swiggy is India’s leading,
new-age, consumer-first, technology platform building
innovative products and solutions that deliver
unparalleled convenience to urban consumers. Swiggy
is a pioneer in bringing the most loved services to Indian
consumers.
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