VA Tech Wabag Limited — Capital/Financing Update 2020

Aug 15, 2020

An ISO 9001 Company August 15, 2020

Listing Department, National Stock Exchange of India Limited, Plot No C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051

Department of Corporate Services BSE Ltd, Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001

Company : VA TECH WABAG LIMITED Symbol /Scrip Code : WABAG / 533269

Dear Sir/Madam,

Sub: Intimation on change in shareholding of our overseas subsidiary, M/s. Wabag Operation and Maintenance WLL, Bahrain - Disinvestment of shares

Ref : Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 ("SEBI LODR").

The Company had a Subsidiary in Bahrain viz., M/s. Wabag Operation & Maintenance WLL ("Wabag O&M) with 70% stake and remaining 30% held by the other overseas partner M/s. Aqua Water Technology WLL, Bahrain.

The Company, as part of its restructuring, has disinvested its entire stake of 70% in Wabag O&M to local partner and consideration formalities relating to the share transfer was completed on 13th August 2020. Post this transfer, the Company does not hold any share in Wabag O&M.

The details as required under SEBI LODR is given in Annexure. This intimation is in compliance with Regulation 30 Schedule III of SEBI LODR and will also be available on the Website of the Company www.wabag.com in compliance with SEBI LODR.

We request you to kindly take the above on record.

Thanking you, Yours faithfully, For VA TECH WABAG LIMITED

R. Swaminathan Company Secretary & Compliance Officer Membership No. A17696

Sustainable solutions, for a better life _______________________________________________________________

VA TECH WABAG LIMITED

CIN: L45205TN1995PLC030231 "WABAG HOUSE", No.17, 200 Feet Thoraipakkam-Pallavaram Main Road, Sunnambu Kolathur, Chennai 600 117, India.

	Board : +91- 44 - 6123 2323
	: +91- 44 - 4223 2323
Fax :	: +91- 44 - 6123 2324
Email	: wabag@wabag.in
Web	: www.wabag.com

An ISO 9001 Company

	ANNEXURE
SlNo.	Particulars	Details
1.	The amount and percentage of the turnover orrevenue or income and net worth contributed by suchunit or division (ie., step down subsidiary) of the listed	Turnover and Net worth as on31st March 2020
	entity during the last financial year	Turnover – Amount BHD 129,870Thesubsidiaryviz.,WabagOperation & Maintenance WLL,Bahrain, contributed 0.10% ofthe turnover of the listed entityduring the last financial year.
		Net worth - Amount BHD 79,036Thesubsidiaryentity
		contributed 0.13% of the networth of the listed entity duringthe last financial year
2.	Date on which the agreement for sale has beenentered into	March 12, 2020
3.	The expected date of completion of sale/disposal	SubjecttoapprovalfromMinistry of Industry, CommerceandTourism,KingdomofBahrainandreceiptofconsiderationfromBuyertoSeller. The effective date oftransfer is the date of receipt ofconsideration by the Seller.Thecompanyreceivedthe
		consideration on 13thAugust2020 ("effective date of sale oftransfer").
4.	Consideration received from such sale/disposal	AnamountofINR1,20,90,834.41/- received by theCompany on 13th August 2020.
5.	Brief details of buyers and whether any of the buyersbelong to the promoter/ promoter group/groupcompanies. If yes, details thereof	Buyer is the local partner in thesubsidiary entity in Bahrain andwas holding 30% shares of thesubsidiaryentity(beforethesharetransfer).Withthistransfer, the buyer holds theentire stake in thesubsidiaryentityNone of the buyers belong to
		thepromoter/promotergroup/group companies.

6.	Whether the transaction would fall within related	No
	party transactions? If yes, whether the same is done
	at "arms length";
7.	Additionally, in case of a slump sale, indicative	Not applicable
	disclosures provided for amalgamation/merger, shall
	be disclosed by the listed entity with respect to such
	slump sale