Tata Power Co. Ltd — M&A Activity 2024

Nov 7, 2024

November 7, 2024

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BSE Limited Corporate Relationship Department 1[st] Floor, New Trading Ring, Rotunda Bldg., P. J. Towers, Dalal Street, Fort, Mumbai 400 001. Scrip Code: 500400

National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Symbol: TATAPOWER EQ

Dear Sir/Madam,

Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) and in continuation to our letter dated August 3, 2024, we wish to inform that Tata Power has signed the Share Purchase Agreement (‘SPA’) and acquired 100% equity stake in Paradeep Transmission Limited, a special purpose vehicle.

The details pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 (‘SEBI Circular’) are as follows:

Sl. No.	Particulars	Description
1	Name of the target entity, details in brief such as size, turnover, etc.	Paradeep Transmission Limited was set up as a special purpose vehicle to Build-Own- Operate Transfer basis, to provide transmission service with turnover of ₹ 256.183 crore.
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/prompter 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‘arm’slength’	No
3.	Industry to which the entity being acquired belongs	Power/Transmission
4.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business ofthelisted entity)	To establish and operate Build-Own-Operate- Transfer basis for providing transmission service.
5.	Brief details of any governmental or regulatory approvals required for the acquisition	Approval has been received from Ministry of Power for share transfer of Paradeep Transmission Limited.
6.	Indicative time period for completion of the acquisition	Acquisition process completed on November6,2024
7.	Consideration - whether cash consideration or share swap or any other formand details ofthe same	The acquisition involves purchase of equity against cash consideration and one time settlement ofoutstanding debt.
8.	Cost of acquisition or the price at which the shares are acquired	₹ 18.64 crore

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9.	Percentage of shareholding/control acquired and/or number of shares acquired	100% equity stake in Paradeep Transmission Limited
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	The company is a special purpose vehicle formed on November 30, 2023, specifically to establish the transmission system for Eastern Region Expansion Scheme-XXXIV (Paradeep Transmission Limited) which comprises Angul to Paradeep ~190 km of 765 KV D/C line, Paradeep 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCL- Paradeep (400 KV GIS). There is also a ~12 km of 400 KV D/C line from OPTCL (Paradeep) 400 KV GIS S/s to Paradeep 765 KV GIS S/s. The schedule date of commercial operation (‘SCOD’) of the said SPV will be 24 months fromthe date ofSPVacquisition.

Yours Sincerely,

For The Tata Power Company Limited

VISPI Digitally signed by VISPI SAROSH SAROSH PATEL Date: 2024.11.07 PATEL 12:32:51 +05'30'

Vispi S. Patel Company Secretary FCS 7021

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