STRIDES PHARMA SCIENCE LIMITED — Capital/Financing Update 2024

Jan 2, 2024

==> picture [145 x 48] intentionally omitted <==

January 2, 2024

BSE Limited

Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

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

Scrip code: 532531

Scrip code: STAR

Dear Madam/ Sir,

Sub: Investment in AMP Energy

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

We wish to inform you that the Management Committee of the Board of Directors of the Company in its meeting held today i.e., January 2, 2024, have approved investment in the securities of following entities:

• 1. AMP Energy C&I Six Private Limited (AMP-6); and
• 1. AMP Energy C&I Eight Private Limited (AMP-8)

AMP-6 & AMP-8 are special purpose entities formed for purpose of setting up captive solar power projects in Karnataka. The proposed arrangement is in line with Strides’ commitment to enhance usage of renewable power source in Strides’ operations.

Disclosure under Regulation 30 of SEBI Listing Regulations read with the SEBI Circular of July 13, 2023 relating to the proposed transaction is enclosed.

We request you to take this on record and that the same be treated as compliance under the applicable regulation(s).

This is for your information and records.

Thanks & Regards, For Strides Pharma Science Limited,

MANJULA R

Digitally signed by MANJULA R Date: 2024.01.02 12:15:34 +05'30'

Manjula Ramamurthy Company Secretary ICSI Membership No.: A30515

Encl. As above

==> picture [509 x 56] intentionally omitted <==

==> picture [145 x 48] intentionally omitted <==

Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 read with SEBI/ HO/ CFD/ CFD-PoD-1/ P/ CIR/ 2023/ 123 dated July 13, 2023

#	Particulars
a)	Name of the Target entity, details in brief such as size, turnover etc.
	**Proposed investment is in two entities -**AMP Energy C&I Six Private Limited (AMP-6) & AMPEnergy C&I Eight Private Limited (AMP-8)AMP-6 and AMP-8 are companies incorporated under the Companies Act, 2013 and are currentlysubsidiaries of AMP Energy C&I Private Limited.AMP-6 and AMP-8 are special purpose entities formed for purpose of setting up captive solar powerprojects in Karnataka.Turnover for FY23 is as under:AMP-6: ~INR 207.21 LakhsAMP-8: ~INR 5 Lakhs
b)	Whether the acquisition would fall within related party transaction(s) and whether promoter/promoter group/ group companies have any interest in the entity being acquired?If yes, nature of interest and details thereof and whether the same is done at “arms’ length”
	Acquisition does not fall within the purview of related party transactions.None of the promoters/ promoter group/ group companies of Strides have any interest in theproposed transaction.
c)	Industry to which the entity being acquired belongs
	Generation and transmission of solar energy and other sources of renewable energy.
d)	Objects and impact of acquisition (including but not limited to, disclosure of reasons foracquisition of target entity, if its business is outside the main line of business of the listedentity)
	The proposed arrangement is for purchase of electricity/ power as captive user on mutually agreedterms and conditions. This is in line with Strides’ commitment to enhance usage of renewable powersource in its operations and to comply with the regulatory requirement for being a ‘captive user’under Indian Electricity Laws. Such investment shall be used by AMP-6 and AMP-8 for setting upcaptive solar power projects in Karnataka.

==> picture [145 x 48] intentionally omitted <==

e)	Brief details of any governmental or regulatory approvals required for the acquisition
	None
f)	Indicative time period for completion of the acquisition
	We expect the transaction to be completed in Q4 FY24.
g)	Consideration – whether cash consideration or share swap or any other form and details ofthe same
	Cash
h)	Cost of acquisition and/ or the price at which the shares are acquired
	AMP-6Upto Rs. 2.66 crores for acquisition of ~6.07% stake in AMP-6 on a fully diluted basis.AMP-8Upto Rs. 3.99 crores for acquisition of ~9.93% stake in AMP-8 on a fully diluted basis.
i)	Percentage of shareholding/ control acquired and/ or number of shares acquired
	As detailed in (h) above
j)	Brief background about the entity acquired in terms of:
i)	Products/ line of business acquired
	AMP-6 and AMP-8 are subsidiaries of AMP Energy C&I Private Limited and are special purposeentities for the purpose of setting up Solar Power Projects in Karnataka.
ii)	Date of incorporation
	AMP-6: March 30, 2022;AMP-8: July 5, 2022
iii)	History of last 3 years turnover
	Turnover for FY23 is as under:AMP-6: ~INR 207.21 LakhsAMP-8: ~INR 5 Lakhs
4	Country in which the acquired entity has presence
	AMP-6 and AMP-8 are entities incorporated in India and operate in India.

==> picture [509 x 56] intentionally omitted <==

==> picture [145 x 48] intentionally omitted <==

5	Any other significant information (in brief)
	None

==> picture [509 x 56] intentionally omitted <==

---