STRIDES PHARMA SCIENCE LIMITED — Capital/Financing Update 2024

Mar 27, 2024

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March 27, 2024

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

This is to inform you that Board of Directors of the Company in its meeting held today have approved for extension of Corporate Guarantee (CG) aggregating to USD 20.10 million in favour of IndusInd Bank Limited, IBU, Gift City Branch, on behalf of Strides Pharma Global Pte. Limited, Singapore, a step down wholly owned subsidiary of the Company.

Details of the said CG is enclosed for your reference as an Annexure.

The meeting commenced at 12:30 hrs IST and concluded at 13:30 hrs IST.

This is for your information and records.

Thanks & Regards, For Strides Pharma Science Limited,

MANJUL Digitally signed by MANJULA R A R Date: 2024.03.27 13:38:42 +05'30'

Manjula Ramamurthy Company Secretary ICSI Membership No. A30515

Encl. As above

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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

1	Name of the party in whose favour Guarantee has been given	IndusInd Bank Limited IBU, Gift City Branch	IndusInd Bank Limited IBU, Gift City Branch
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 “arms length”;	None of the Promoter/ Promoter Group Companies have any interest in the transaction. All the transactions are at arms length basis.
3	Brief details of such guarantee viz. brief details of agreement entered (if any) including significant terms and conditions, including amount of guarantee;	Details provided below
a	Purpose of Corporate Guarantee	Extension of Corporate Guarantee by Strides Pharma Science Limited (Company) and Strides Pharma Asia Pte. Ltd, Singapore to secure short Term Loan availed by Strides Pharma Global Pte. Limited, Singapore, a step-down wholly owned subsidiary of the Company
b	Amount of Corporate Guarantee (in Rs.)	USD 18,50,00,000 equivalent to Rs. 1,54,12,35,000	USD 16,00,000 equivalent to Rs. 13,32,96,000
c	CG effective from	June 30, 2024 or from the date of execution of Corporate Guarantee agreement, whichever is earlier	June 30, 2024 or from the date of execution of Corporate Guarantee agreement, whichever is earlier
d	CG Valid upto	June 30, 2027 or the Final Settlement of Loan, which ever is earlier.	June 30, 2027 or the Final Settlement of Loan, which ever is earlier.
e	Remarks	While loan availed is USD 17 million, CG is provided for USD 18.50 million	While loan availed is USD 1.50 million, CG is provided for USD 1.60 million
4	Impact of such guarantees on listed entity.	Corporate Guarantees provided by the Company will be treated as a contingent liability for the Company to the extent of Outstanding Loan