Tata Elxsi Ltd — Capital/Financing Update 2021

Feb 4, 2021

February 03, 2021

DGM – Corporate Relations The Listing Department Bombay Stock Exchange Ltd. National Stock Exchange Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Plot No. C-1, Block G Mumbai – 400 001 Bandra – Kurla Complex

Bandra (East) Mumbai – 400 051

Dear Sir,

Sub: Intimation of withdrawal of credit rating from ICRA -Voluntary.

Pursuant to the provisions of Regulation 30 of the SEBI Listing Regulations, read with Schedule III thereto, this is to inform that on request of the Company, ICRA have withdrawn the long-term rating of [ICRA]AA with Stable outlook and short-term rating of [ICRA]A1+ assigned to the Company's Rs. 55.00 crore borrowing programme, vide its letter ICRA:BLR:2020-21/WD/75 to the Company, dated February 02, 2021.

The copy of the aforesaid letter issued by the Rating Agency is enclosed herewith for your reference.

It may be noted that the Company had voluntarily requested for such withdrawal as the Company is not utilising the above borrowing programme from its bankers. The Bankers have also given necessary concurrence to the withdrawal of the above ratings.

This is for your information and record.

Yours truly,

For Tata Elxsi Limited

G VAIDYANATHAN Digitally signed by G VAIDYANATHAN DN: c=IN, o=Personal, 2.5.4.20=dcabe2c3804765e932eed389ff703acb73a3b95e756a69ae993cf0da10 bb4dd8, postalCode=560043, st=KARNATAKA, serialNumber=bddbe158b3214372369f83e8e5f76f7575633b116efab2ee9ab0 a2f823888cb7, cn=G VAIDYANATHAN, l=BENGALURU, title=9202,

G Vaidyanathan General Counsel & Company Secretary

Date: 2021.02.04 17:29:38 +05'30'

pseudonym=920220201027154951749, email=GVNATHAN@TATAELXSI.CO.IN

ICRA Limited

CONFIDENTIAL

Ref: ICRA:BLR:2020-21/WD/75

Date: February 02, 2021

Mr. Muralidharan H V

Chief Financial Officer M/s Tata Elxsi limited ITPB Road, Whitefield Bangalore-560 048

Re: Withdrawal of the ratings assigned to borrowing programme of Tata Elxsi Limited

Please refer to your e-mail dated July 6, 2020 requesting us to withdraw the long-term rating of [ICRA]AA (pronounced ICRA double A) with Stable outlook and short-term rating of [ICRA]A1+ (pronounced ICRA A one plus) assigned to Rs. 55.00 crore borrowing programme of your company. Please note, that in accordance with ICRA's policy on withdrawal and suspension, the ratings are presented to the Rating Committee of ICRA prior to withdrawal. The ratings have been reaffirmed by the Rating Committee of ICRA at [ICRA] AA (Stable)/ [ICRA] A1+ and stands withdrawn, as desired by you.

We shall be glad to be associated with rating of any future borrowing programme of your company.

With kind regards,

RAJESHWAR BURLA [Mr. Rajeshwar Burla] [Vice President] Email: rajeshwar.burla@icraindia.com

4A, 4^th Floor, SHOBHAN 6-3-927/A&B Raj Bhavan Road Somajiguda, Hyderabad-500082

Tel.: +91.40.40676500 CIN: L74999DL1991PLC042749

Website : www.icra.in Email : info@icraindia.com Helpdesk: +91.124.3341580

Registered Office: 1105, Kailash Building, 11^th Floor, 26 Kasturba Gandhi Marg, New Delhi - 110001. Tel.: +91.11.23357940-45

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