Pennar Industries Ltd. — Capital/Financing Update 2020

May 21, 2020

Date: May 21, 2020 Place: Hyderabad

BSE Limited National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Dalal Street, Bandra (East), Mumbai - 400 051 Mumbai - 400 001Script Code: 513228 Symbol: PENIND Dear Sir/ Madam,

Sub: Intimation of closure of buy-back of Pennar Industries Limited (“ Company ”) of its equity shares from open market through the stock exchanges (“ Buy-back ”) in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (“ Buy-back Regulations ”)

1. This is in furtherance to (i) our letter dated November 12, 2019 disclosing the outcome of the meeting of the board of directors of the Company (“ Board ”) held on the same day, that approved inter alia the Buy-back; and (ii) our letter dated November 14, 2019 regarding submission of the public announcement dated November 13, 2019 in relation to the Buy-back.

2. Pursuant to the resolution passed by the Board on November 12, 2019, the Company was authorised to Buyback its fully paid-up equity shares each having a face value of Rs. 5 each (“ Equity Shares ”) from the open market through the Stock Exchanges using the electronic trading facilities of the BSE Limited (“ BSE ”) and the National Stock Exchange of India Limited (“ NSE ”) (collectively, referred to as “ Stock Exchanges ”) at a maximum price not exceeding Rs. 45 (Rupees Forty Five only) per Equity Share (“ Maximum Buy-back Price ”) payable in cash for an aggregate amount not exceeding Rs. 4,000 Lakhs (Rupees Four Thousand Lakhs only) (“ Maximum Buy-back Size ”) excluding any other expenses incurred or to be incurred for the Buy-back like filing fees payable to SEBI, Stock Exchanges fees, advisors’ fees, public announcement, publication expenses, transaction cost viz., brokerage, applicable taxes such as securities transaction tax, stamp duty, income tax, etc., and any other incidental and related expenses ( “Transaction Costs” ).

3. The Buy-back was commenced on November 25, 2019 in accordance with the provisions of the Buy-back Regulations. In this regard, please be informed that the Company has bought back 1,01,95,000 (One Crore One Lakh and Ninety Five Thousand) Equity Shares at an average price of Rs. 21.93 (Rupees Twenty One and Paise Ninety Three only) per Equity Share (price calculated has been rounded to the nearest paisa). Accordingly, the Company deployed approximately Rs. 2,236.20 Lakhs (Rupees Two Thousand Two Hundred Thirty Six Lakhs and Twenty Thousand only) (excluding Transaction Costs), which represents approximately 55.91% of Maximum Buy-back Size. Consequently, the Buy-back committee of the Company vide resolution dated May 21, 2020 interalia resolved to close the Buy-back prior to expiry of 6 months and thereby the Company announces the closure of the Buy-back with effect from closing hours of May 21, 2020.

This is for your information and records and be treated as compliance with Regulation 30 or any other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, as amended.

For details of the pre and post Buy-back shareholding pattern of the Company, please refer Annexure - A . We request you to kindly take this on record.

Thanking you,

for Pennar Industries Limited

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Mirza Mohammed Ali Baig Company Secretary & Compliance Officer ACS 29058

ANNEXURE - A

The shareholding pattern of the Company, pre Buy-back and post Buy-back is as under:

Category ofShareholder	Pre Buy-back*	Pre Buy-back*	Post Buy-back	Post Buy-back
	Number of Shares	%	Number of Shares	%
Promoters and promotergroup	5,36,86,278	35.24	5,36,86,278	37.76
Foreign Investors(Including Non-Resident Indians, FIIs,FPIs, Foreign MutualFunds, ForeignNationals)	1,87,34,501	12.30	8,84,75,953	62.24
FinancialInstitutions/Banks,Mutual Funds promotedbyBanks/Institutions	1,80,82,859	11.87
Others (Public, BodiesCorporate,etc.)	6,18,53,593	40.59
Total	15,23,57,231	100.00	14,21,62,231	100.00

• As on November 12, 2019

for Pennar Industries Limited

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Mirza Mohammed Ali Baig Company Secretary & Compliance Officer ACS 29058