VOLTAMP TRANSFORMERS LIMITED — M&A Activity 2020

May 11, 2020

Ref: VTL/SEC/NSE-BSE/MAY. 2020 11th May, 2020

NATIONAL STOCK EXCHANGE OF INDIA LTD Listing Department "Exchange Plaza," Bandra -Kurla Complex, Bandra (E), P J Towers, Dalal Street, Mumbai 400 051 Mumbai 400 001

To, To, Voltamp Transformers Limited

BSE LIMITED

Department of Corporate Services, Floor 1, Rotunda Building,

Scrip Code: VOLTAMP EQ Scrip Code: 532757

Dear Sir /Madam,

Subject : Outcome of the Board Meeting held on 11th May 2020 : Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular No. CIR/CF/CMD/4/2015 dated September 9, 2015.

This is to inform that, the Board of Directors of the Company, at its meeting held today, after considering the report of the Audit Committee of the Company, have considered and approved a Scheme of Amalgamation (the "Scheme") between the Voltamp Transformers Limited ("VTL" or "Company") and Kunjal Investment Private Limited ("KIPL"), and their respective shareholders and creditors ("Scheme") under Sections 230 to 232 read with section 66 and other applicable provisions of the Companies Act, 2013 ("2013 Act").

The Scheme is subject to the receipt of requisite approval from the statutory authorities including SEBI, Stock Exchanges, the National Company Law Tribunal, Reserve Bank of India and the respective shareholders and creditors of the Company and Kunjal Investments Pvt. Ltd (KIPL). Appointed date

The information required to be furnished pursuant to Regulation 30 of the Listing Regulations read with the SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is set out herein below:

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Regd. Office & Works : Makarpura, VADODARA-390014, GUJARAT, [IND1Al Phone : +91 265 Fax: +91 - 265 264 6774, 304 1499 Email: voltamp@voltamptransformers.comWeb:www.voltamptransformers.com CIN: L31100

Branches:

Ahmedabad /Bangalore/ Chandigarh/ Chennai /Coimbatore/ Guwahati /Jaipur/ Jamshedpur I Kolkata I Mumbai I Nagpur I New Delhi I Pune I Secunderabad

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		Further the proposed Scheme is subject to necessary
		regulatory approvals as required.
4	Area of business of the entities	1. KIPL is presently engaged inter alia, in the business of
		holding investments and is registered as NBFC Company
		with Reserve Bank of India (RBI).
		2. VTL is presently engaged in the business of Manufacturingof Electric Transformers. VTL is listed on the National
		Stock Exchange and Bombay Stock Exchange.
5	amalgamation/Rationale for	The amalgamation will lead to simplification of the
	merger	shareholding structure and reduction of shareholding tiers
		and demonstrate promoters' direct commitment to and
		engagement with VTL. The amalgamation shall have no
		adverse implications for KIPL, VTL or Public Shareholders of
		VTL.
		The promoter group cumulatively will continue to hold thesame number and also same percentage of shares in VTL, pre
		and post amalgamation. There will be no change in the
		financial position and capital structure of the transferee
		company.
		Reduction in number of entity will lead to apparent and
		flexible group structure and aligned promoter shareholding;
		The Scheme provides that the promoters will indemnify,defend and hold harmless the transferee company, its
		directors, employees, officers, representatives, or any other
		person authorized by the transferee company for any liability,
		claim, or demand, which may devolve upon the transferee
		company on account of this amalgamation. The cost to carry
		out the entire transaction will be borne by transferor
		Company.
6	In case of cash consideration -	There is no cash consideration.
	amount or otherwise shareexchange ratio;	Upon coming into effect of the Scheme, and in consideration
		for the transfer and vesting of KIPL with the VTL, the VTL,
		without any application or deed, issue and allot 43,44,474
		fully paid up new equity shares to the members of the KIPL
		whose names appear in the register of members of the KIPL
		as on the Record Date, or to such of their respective heirs,
		executors, administrators or other legal representatives or
		other successors in title as may be recognized by the Board of
		the KIPL in proportion of the equity shares held by them in
		KIPL.
7	changeBrief detailsofin	Upon scheme becoming effective, the Company will issue
	shareholding pattern (if any)of	equity shares as mentioned in (6) above. No change in
	listed entity.	shareholding pattern. Promoter's family overall holdings will
		remain unchanged after amalgamations For

$\frac{2}{\sqrt{2}}$ (esUSV ACOC

Kindly take the aforesaid information on your record.

Thanking you,

Yours fai fully, FOR V liAMP TRANSFORMERS LTD,

COMPANY SECRETARY & COMPLIANCE OFFICER