United Polyfab Gujarat Limited — Capital/Financing Update 2023

Sep 23, 2023

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Date: September 23, 2023

To,

Listing Compliance Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex Bandra East, Mumbai-400051

Dear Sir,

Sub: Intimation of Proposed formation of Wholly Owned Subsidiary Company:

Ref: United Polyfab Gujarat Limited ( Symbol/ ISIN : UNITEDPOLY/ INE368U01011)

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we would like to inform that the Board of Directors has approved the incorporation of a wholly owned subsidiary of the company namely UNITEDGREEN DISTILLERIES PRIVATE LIMITED (WOS) by way of subscription of 1,00,000 ( One lac Only) shares of Rs. 10/- each in the paid-up share capital of the Proposed Company.

The wholly owned subsidiary will leverage the growth opportunities in the evolving mobility space by establish and operate an ethanol distillery that specializes in the production of high-quality ethanol through advanced distillation processes, produce biofuels such as ethanol for selling to petroleum marketing companies to enable them to blend in petrol, business of producers, refiners, processors, manufacturers, buyers, sellers, distributors, importers, exporters, traders, agents, stockists and to market and supply all types of sugar, sugarcanes & high starch agro products, agro based products, ethanol, alcohol, electricity, carbon, hydrocarbons, liquid or gaseous petroleum and petroleum products, minerals and the products or the bye-products thereof or its feed stocks or which may be derived, produced, prepared, developed, compounded, made or manufactured there from and substances obtained by mixing any of the foregoing with other substances and any and all kinds, types, purposes, grades, forms and formulations of alcohol products including rectified spirit and to put to commercial use and otherwise deal in any manner in all or any of them and their allied products and materials, and for this purpose establish, purchase, acquire, own, design, engineer, fabricate, build, alter, improve, operate, manage, maintain, repair, buy and sell refineries, pipelines, buildings, plants, equipment, facilities and outlets for the production, refining, processing, storage, supply, transportation and distribution of all types of sugarcanes and agro based products, including those referred to hereinabove and derivatives thereof, whether liquid, solid or gaseous, and alcohol & power of all kinds and to provide consultancy in all respects of all or any of the aforesaid.

The details required under regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 are enclosed as Annexure A.

Kindly take the same on your record and oblige us.

For, UNITED POLYFAB GUJARAT LIMITED

GAGAN NIRMALKUMAR MITTAL Digitally signed by GAGAN NIRMALKUMAR MITTAL DN: c=IN, o=Personal, title=2093, pseudonym=7A1C53914DB02B3E6E8F7E69820AFE5469B2CEE7, 2.5.4.20=7d5bbc40d3ff68d5adddde36484c13007b044a1c95bbc1c778fad8dae9409cb8, postalCode=380015, st=Gujarat, serialNumber=CE0083F38FE4A9D1111FB5D9D46C9473DA508874664743F3A65F8C4A9CC2DB67, cn=GAGAN NIRMALKUMAR MITTAL Date: 2023.09.23 11:33:43 +05'30'

Gagan Mittal Managing Director (DIN: 00593377)

Place: Ahmedabad Encl

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ANNEXURE A

S.R. No	Particulars	Details
a)	Name of the target entity, details in brief such as size, turnover etc.:	UNITEDGREEN DISTILLERIES PRIVATE LIMITED (Proposed WOS)
		Proposed Authorised Capital is – Rs. 10,00,000 (Rupees Ten Lakh Only), [1,00,000 Equity Shares of Face Value of Rs. 10 each]
		Proposed Paid up Capital – Rs. 10,00,000 (Rupees Ten lakh only) [1,00,000 Equity Shares of Face Value of Rs. 10 each].
		Size/Turnover
		Not Applicable as Companyisyet to be incorporated.
b)	Whether the acquisition would fall within related party transaction(s) and whether the 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 “arm’s length”:	The Wholly Owned Subsidiary company once incorporated will be a related party of our Company. Save and except mentioned above, the Promoter/Promoter Group/ Group Companies are not interested in the Transaction. Subscription of Shares will be on an Arms Length price.
c)	Industry to which the entity being acquired belongs	ETHANOL
d)	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 of the listed entity);	It is contemplated that Proposed WOS to be incorporated in India shall carry out business ofethanol distillery that specializes in the production of high-quality ethanol through advanced distillation processes, produce biofuels such as ethanol for selling to petroleum marketing companies to enable them to blend in petrol, business of producers, refiners, processors, manufacturers, buyers, sellers, distributors, importers, exporters, traders, agents, stockists and to market and supply all types of sugar, sugarcanes & high starch agro products, agro based products, ethanol, alcohol, electricity, carbon, hydrocarbons, liquid or gaseous petroleum and petroleum products, minerals and the products or the bye- products thereof or its feed stocks or which may be derived, produced, prepared, developed, compounded, made or manufactured there from and substances obtained by mixing any of the foregoing with other substances and any and all kinds, types, purposes, grades, forms and formulations of alcohol products including rectified spirit and to put to commercial use and otherwise deal in any manner in all or any of them and their allied products and materials, and for this purpose establish, purchase, acquire, own, design, engineer, fabricate, build, alter, improve, operate, manage, maintain, repair, buy and sell refineries, pipelines, buildings, plants, equipment, facilities and outlets for the production, refining, processing, storage, supply, transportation and distribution of all types of sugarcanes and agro basedproducts,includingthose referred to hereinabove

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		and derivatives thereof, whether liquid, solid or gaseous, and alcohol & power of all kinds and to provide consultancy in all respects of all or any of the aforesaid
		Subscription to these shares of the proposed WOS would further expand the
		business of our Company.
e)	Brief details of any governmental or regulatory approvals required for the acquisition;	Not Applicable
f)	nature of consideration – whether cash consideration or share swap and details of the same :	100% Subscription to the Paid Up Share Capital in Cash.
g)	Date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information.	Date of Incorporation: - Proposed to be incorporated. History/ Turnover:- Not Applicable Country:- India
h)	Indicative time period for completion of the acquisition	In Short Span of time.
i)	Cost of Acquisition or the price at which the Shares will be acquired	The Company will Subscribe to 1,00,000 (One Lakh Only) Equity Shares at the Face Value of Rs. 10 each aggregating to Rs. 10,00,000 (Rupees Ten Lakh Only.)