Symphony Limited — Capital/Financing Update 2024

Aug 23, 2024

August 23, 2024

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To, To, National Stock Exchange of India Limited BSE Limited Symbol – Symphony Security Code – 517385

Sub.: Incorporation of a step down wholly owned subsidiary company in China

Dear Sirs/ Madam,

We would like to inform you that Guangdong Symphony Keruilai Air Cooling Co., Ltd. China, the Wholly Owned Subsidiary (“WOS”) of the Company, which sells industrial and household aircoolers that itself manufactures , has incorporated a Wholly Owned Subsidiary in China by the name of “ Dongguan GSK Appliances Co., Ltd.” . The said stepdown subsidiary (SDS) Company was incorporated on August 23, 2024, with the purpose of selling to international customers various products that are manufactured by third parties such as aircoolers, airconditioners, fans, panel heaters, column heaters, strip heaters, fireplaces, components of various products, parts, etc. This is in accordance with local regulatory requirements. It may be noted that this activity will result in additional revenue that is margin accretive without additional overhead.

The details as required under Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are enclosed herewith as ‘ Annexure -A’

The above is for your information and records.

Thanking you,

Yours truly,

For Symphony Limited

MAYUR C. Digitally signed by MAYUR C. BARVADI BARVADIYA Date: 2024.08.23 YA 17:51:52 +05'30' Mayur Barvadiya Company Secretary and Head – Legal

Encl.: as above

Registered Office: Symphony Limited, “Symphony House”, Third Floor, FP-12, TP-50, Off S.G. Highway, Bodakdev, Ahmedabad -380 059, India T: +91-79-66211111, F: +91-79-66211139-40 l Email – companysecretary@symphonylimited.com I www.symphonylimited.com CIN - L32201GJ1988PLC010331

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Annexure A

Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

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Sr. Particulars Details
No.
1 Name of the target entity, The name of the step down wholly owned
Name of the incorporated subsidiary ( “SDS” ) incorporated in China is
entity, details in brief such as “Dongguan GSK Appliances Co., Ltd.”
size, turnover etc.
Proposed authorized capital: CNY 500,000
Size/Turnover: NA (yet to commence business
operations)
2 Name of Holding Company Guangdong Symphony Keruilai Air Cooling Co.
Ltd, China.
Ultimate Holding Company: Symphony Limited
3 Relationship of holding Wholly Owned Subsidiary
Company with the listed entity
4. Whether the acquisition would The Step-down Subsidiary will be a related party
fall within related party of the Company and other subsidiaries.
transaction(s) and whether the
promoter/ promoter group/ Save and except as is mentioned above, the
group companies have any promoter / promoter group/ group companies
interest in the entity being are not interested in the transaction.
acquired? If yes, nature of
interest and details thereof and
whether the same is done at
“arm’s length”
5. Industry to which the entity Trading Company
being acquired/ incorporated
belongs
6. Objects and impact of The SDS will carry on the business of import and
acquisition (including but not export of all types of goods, sales of all types of
limited to, disclosure of consumer durables and household appliances
reasons for acquisition of target viz. Air coolers, Water Heaters, Tower Fans,
entity, if its business is outside Washing Machines and others.
the main line of business of the
listed entity);
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Registered Office: Symphony Limited, “Symphony House”, Third Floor, FP-12, TP-50, Off S.G. Highway, Bodakdev, Ahmedabad -380 059, India T: +91-79-66211111, F: +91-79-66211139-40 l Email – companysecretary@symphonylimited.com I www.symphonylimited.com CIN - L32201GJ1988PLC010331

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7. Brief details of any Not Applicable
governmental or regulatory
approvals required for the
acquisition
8. Indicative time period for Not Applicable
completion of the acquisition
9. Consideration - whether cash Subscription of capital in the SDS will be by way
consideration or share swap or of cash consideration.
any other form and details of
the same
10. Cost of subscription or the price CNY 500,000
at which the shares are/ will be
subscribed
11. Percentage of shareholding/ 100.00%
control acquired and / or
number of shares acquired
12. Brief background about the This is a newly incorporated Company and
entity incorporated in terms of therefore history of last 3 years turnover is not
products/line of business, available.
history of last 3 years turnover
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Registered Office: Symphony Limited, “Symphony House”, Third Floor, FP-12, TP-50, Off S.G. Highway, Bodakdev, Ahmedabad -380 059, India T: +91-79-66211111, F: +91-79-66211139-40 l Email – companysecretary@symphonylimited.com I www.symphonylimited.com CIN - L32201GJ1988PLC010331