Polycab India Limited — Capital/Financing Update 2023

Aug 22, 2023

POLYCAB INDIA LIMITED

CIN: L31300GJ1996PLC114183

29, The Ruby, 21[st] Floor, Senapati Bapat Marg, Tulsi Pipe Road, Dadar (West), Mumbai -400028 Tel: +91 22 2432 7070-74 Email: shares@polycab.com Website: www.polycab.com

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Date: 22[nd] August 2023

To Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400 001

To Listing Department National Stock Exchange of India Limited C-1, G-Block, Bandra-Kurla Complex Bandra (E), Mumbai – 400 051

Scrip Code: 542652 Scrip Symbol: Polycab ISIN:- INE455K01017

Dear Sir / Madam

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (‘Listing Regulations’)

Pursuant to Regulation 30 of the Listing Regulations, please be informed that the Company has issued a comfort letter dated 22[nd] August 2023 to HDFC Bank Limited (‘HDFC’/’ the Bank’) for the enhanced borrowing facility from ₹52.00 crores to ₹89.97 crores to be availed by Tirupati Reels Private Limited {‘TRPL’} (‘Subsidiary’) for working capital and capex expenditure to meet its business requirement for its manufacturing business.

The details as required under Regulation 30 of the Listing Regulations is attached herewith as Annexure A.

Kindly take the same on your record.

Thanking you

Yours Faithfully For Polycab India Limited

MANITA CARMEN ALBERT GONSALVES Digitally signed by MANITA CARMEN ALBERT GONSALVES DN: c=IN, postalCode=400104, st=MAHARASHTRA, street=FLAT NO 8BUILDING NO 9PIRAMAL NAGAR S V ROADMUMBAIBESIDES PATEL PETROL PUMP 400104, l=MUMBAI, o=Personal, title=9350, serialNumber=e9923616fb581748338360a9dcca7ddbef53792338962e492591c02f91606f5f, pseudonym=935020230512111157429, 2.5.4.20=d6b37cc9b008ba4c44a5e26aead891e74cc85aea24a8e6ad4562fa78a0802a6d, email=MANITA.GONSALVES@POLYCAB.COM, cn=MANITA CARMEN ALBERT GONSALVES Date: 2023.08.22 19:14:18 +05'30'

______ Manita Carmen A. Gonsalves Company Secretary and Head Legal Membership No.: A18321

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Registered Office: Unit No.4, Plot No.105, Halol Vadodara Road Village Nurpura, Taluka Halol, Panchmahal, Gujarat-389350 Tel : 2676- 227600 / 227700

POLYCAB INDIA LIMITED

CIN: L31300GJ1996PLC114183 #29, The Ruby, 21[st] Floor, Senapati Bapat Marg, Tulsi Pipe Road, Dadar (West), Mumbai -400028 Tel: +91 22 2432 7070-74 Email: shares@polycab.com Website: www.polycab.com

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Annexure A

S.No.	Particulars	Details
1.	Name of party for which such guarantees or indemnity or surety was given	Tirupati Reels Private Limited, Subsidiary of Polycab India Limited.
2.	whether the promoter/ promoter group/ group companies have any interest in this transaction? If yes, nature of interest and details thereof and whether the same is done at “arm’s length	No, the promoter/promoter group/ group companies do not have any interest in this transaction. Further, the transaction is at arm’s length basis.
3.	brief details of such guarantee or indemnity or becoming a surety viz. brief details of agreement entered (if any) including significant terms and conditions, including amount of guarantee.	a) Polycab India Limited has issued a comfort letter dated 22ndAugust 2023 to HDFC towards the enhanced borrowing facility from ₹52.00 crores to ₹89.97 crores to be availed by TRPL for the purpose of working capital & capex expenditure to meet business requirement for its manufacturing business. b) the Company to ensure the repayment by Tirupati Reels Pvt. Ltd of its indebtedness to the bank in connection with the aforesaid financial arrangement.
4.	Impact of such guarantees or indemnity or surety on listed entity	The Company undertakes that so long as any moneys are still owing to HDFC by TRPL, the Company would not reduce its majority shareholding in TRPL.

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Registered Office: Unit No.4, Plot No.105, Halol Vadodara Road Village Nurpura, Taluka Halol, Panchmahal, Gujarat-389350 Tel : 2676- 227600 / 227700