Permanent Magnets Ltd. — Capital/Financing Update 2023

Jun 1, 2023

PERMANENT MAGNETS LIMITED B-3, MIDC, Village Mira, Mira Road (East), Thane - 401107, Maharashtra, India

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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : sales@pmlindia.com Website : www.pmlindia.com

Date : 1[st] June, 2023

To,

Corporate Relation Department The Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

Sub: Intimation of Incorporation of a Wholly Owned Subsidiary Company

Ref: Permanent Magnets Limited (Scrip Code: 504132)

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“Listing Regulations”) we hereby inform that the Company has incorporated a Wholly Owned Subsidiary Company named “QUANTUM MAGNETICS PRIVATE LIMITED” on May 31, 2023.

The details as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are enclosed as Annexure A.

You are requested to kindly take the same on record and oblige.

Thanking you,

Yours Faithfully,

FOR PERMANENT MAGNETS LIMITED

RACHANA Digitally signed by RACHANA PARESH PARESH SAWANT Date: 2023.06.01 SAWANT 17:02:12 +05'30' RACHANA RANE COMPANY SECRETARY

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Regd Office: Harsh Avenue, 302, 3[rd] Floor, opp. Silvassa Police Station, Silvassa Vapi Main Road, Silvassa- 396 230. Dadra and Nagar Haveli (U.T.) (All correspondence has to be made at our Mira Road address only) CIN-L27100DN1960PLC000371

PERMANENT MAGNETS LIMITED

B-3, MIDC, Village Mira, Mira Road (East), Thane - 401107, Maharashtra, India

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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : sales@pmlindia.com Website : www.pmlindia.com

Annexure A

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Sr. No. Particulars Description
1. Name of the Target entity, details in brief such Quantum Magnetics Private Limited is
as size, turnover, etc. incorporated as a Wholly Owned Subsidiary of
Permanent Magnets Limited on May 31, 2023.
Authorized Share Capital: Rs. 5,00,000/-
Paid‐up Share Capital: Rs. 5,00,000/-
Size/Turnover: Not applicable
(yet to commence business operations)
2. Whether the acquisition would fall within Permanent Magnets Limited (“the company”)
related party transaction(s) and whether the is the Promoter of Quantum Magnetics Private
promoter/ promoter group/ group companies Limited and being a Wholly Owned Subsidiary
have any interest in the entity being acquired? it is a related party of the Company.
If yes, nature of interest and details thereof and
whether the same is done at “arms length”. Save and except above, the promoter /
promoter group / group companies are not
interested in the transaction.
3. Industry to which the entity being acquired Manufacturing, Assembling, dealing and
belongs. Export in neodymium magnets and related
products.
4. Objects and effects of acquisition (including but The wholly owned subsidiary is incorporated to
not limited to, disclosure of reasons for carry on the business in India or elsewhere as
acquisition of target entity, if its business is buyer, sellers, manufacturers, importers,
outside the main line of business of the listed exporters, distributors, dealers in neodymium
entity). magnets and related products.
The business of Wholly owned subsidiary is in
line with the main line of business of the
Company.
5. Brief details of any governmental or regulatory Not applicable
approvals required for the acquisition.
6. Indicative time period for completion of the Not applicable
acquisition.
7. Nature of consideration ‐ whether cash Cash consideration by way of acquisition of
consideration or share swap and details of the Equity Shares.
same.
8. Cost of acquisition or the price at which the The Company has subscribed to 50,000 Equity
shares are acquired. Shares of Rs. 10/‐ each aggregating to
Rs.5,00,000/‐
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Regd Office: Harsh Avenue, 302, 3[rd] Floor, opp. Silvassa Police Station, Silvassa Vapi Main Road, Silvassa- 396 230. Dadra and Nagar Haveli (U.T.)

(All correspondence has to be made at our Mira Road address only)

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CIN-L27100DN1960PLC000371

PERMANENT MAGNETS LIMITED

B-3, MIDC, Village Mira, Mira Road (East), Thane - 401107, Maharashtra, India

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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : sales@pmlindia.com Website : www.pmlindia.com

9.	Percentage of shareholding / control acquired and / or number of shares acquired.	Percentage of shareholding / control acquired: 100% Number of shares acquired: The Company has subscribed to 50,000 Equity Shares of Rs. 10/‐ each aggregating to Rs. 5,00,000/‐
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information.	Product / line of Business: Manufacturing, Assembling, dealing and Export in neodymium magnets and related products. Date of Incorporation: May 31, 2023 History / Turnover: Not applicable (yet to commence its business operations) Country: Quantum Magnetics Private Limited is incorporated in India, with the Registrar of Companies at Mumbai.

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Regd Office: Harsh Avenue, 302, 3[rd] Floor, opp. Silvassa Police Station, Silvassa Vapi Main Road, Silvassa- 396 230. Dadra and Nagar Haveli (U.T.) (All correspondence has to be made at our Mira Road address only) CIN-L27100DN1960PLC000371