STRIDES PHARMA SCIENCE LIMITED — Capital/Financing Update 2023

Dec 21, 2023

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December 21, 2023

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

Scrip code: 532531

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

Scrip code: STAR

Dear Madam/ Sir,

Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/ HO/ CFD/ CFDPoD-1/ P/ CIR/ 2023/ 123 dated July 13, 2023

We wish to inform you that Trinity Pharma Proprietary Limited (Trinity), a step-down subsidiary of the Company in South Africa, has availed credit facility from Investec for Business, a division of Investec Bank Limited, South Africa, for their working capital requirements.

In order to facilitate the said borrowing of Trinity, Strides group entities have provided support in the form of Corporate Guarantee/ Letter of Support, amongst others in favour of Investec.

Disclosure under Regulation 30 of SEBI Listing Regulations in the prescribed format is enclosed.

This is for your information and records.

Thanks & Regards, For Strides Pharma Science Limited,

Digitally signed by MANJULA R MANJULA R Date: 2023.12.21 10:59:49 +05'30'

Manjula Ramamurthy Company Secretary ICSI Membership No. A30515

Encl. As above

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Annexure

Disclosure under Regulation 30 read with Schedule III to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR) and SEBI Circular bearing reference SEBI/ HO/ CFD/ CFD‐PoD‐1/ P/ CIR/ 2023/ 123 dated July 13, 2023

#	Particulars
1)	Name of party in whose favour guarantees or indemnity or surety has been given
	Investec for Business, a division of Investec Bank Limited, South Africa (‘Investec’), for theborrowing of ZAR 70 million (~INR 315 million) by Trinity Pharma Proprietary Limited(Trinity), a step-down subsidiary of the Company in South Africa.
2)	Whether Promoter/ Promoter Group/ Group companies have any interest in thistransaction?If yes, nature of interest and details thereof and whether the same is done at “arm’slength”
	None of the Promoter/ Promoter Group of the Company have any interest in this transaction.Strides Pharma Asia Pte. Ltd., Singapore (SPAPL) is the holding company for Trinity andholds ~51.76% stake in Trinity.Strides Pharma (Cyprus) Limited (SPCL) is the holding company for Strides Pharma (SA)(Pty) Ltd., South Africa (Strides SA) and holds 60% stake in Strides SA.Strides SA is a fellow Subsidiary of Trinity.Accordingly, SPAPL, SPCL and Strides SA (Strides group entities) are interested in theproposed transaction. The said transaction is at arm’s length basis.
3)	Brief details of such guarantee or indemnity or becoming a surety viz. brief details ofagreement entered (if any) including significant terms and conditions, includingamount of guarantee
a)	Purpose of Guarantee
	Trinity has availed working capital facility of ZAR 70 million (~INR 315 million) fromInvestec for Business, a division of Investec Bank Limited, South Africa, which is largely formanufacturing/ trading of Strides SA products.In order to facilitate the said borrowing of Trinity, Strides group entities viz., SPAPL, StridesSA and SPCL have provided support in the form of Corporate Guarantee/ Letter of Support,amongst others.Details of such support are provided below.

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b)	Amount of Guarantee/ Support
	**1) **Corporate Guarantee from Strides SA for ZAR 70 million (~INR 315 million).**2) **Letter of Support from SPAPL in proportion of its stake in Trinity i.e., ~ZAR 36.23 million(~INR 163 million).**3) **Undertaking from shareholders of Trinity and Strides SA for funding cash shortfall atTrinity, if any.
c)	Guarantee/ Supports Effective From
	December 20, 2023
d)	Guarantee/ Supports Valid upto
	Until the repayment of facility
4)	Impact of such guarantees or indemnity or surety on listed entity
	None, on the Listed Entity.

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