Elgi equipments Limited announced that the Company has formed a wholly owned subsidiary company in the name "Elgi Compressors Vietnam LLC", in Vietnam and has received the Enterprise Registration Certificate dated March 1, 2023 on March 3, 2023. Name: "Elgi CompressorsV Vietnam LLC", Authorised and Paid-up charter capital: VND 621,500,000 equivalent to USD 25,000., Turnover: Not applicable, Whether the acquisition would fall within related party transactions and whether the promoter /promoter group /group companies have any interest in the entity being acquired, NA, Industry to which the entity being acquired belongs, Air Compressors, 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), Elgi Compressors Vietnam LLC is incorporated to undertake the business of import, export, wholesaling, distribution, retailing, and providing service on installation, maintenance, and repair of compressors/spares/accessories, Brief details of any governmental or regulatory approvals required for the acquisition, Registering and obtaining Investment Registration Certificate, Enterprise Registration Certificate and engraving a seal of the Company, Indicative time period for completion of the acquisition, Not applicable, Nature of consideration - whether cash consideration or share swap and details of the same, Cash, Cost of acquisition or the price at which the shares are acquired, USD 25,000, Percentage of shareholding /control acquired and /or number of shares acquired, 100%. Elgi CompressorsV LLC is incorporated to undertake the Business of import, distribution and retail sale and service of compressors /spares /accessories in all types of air compressors.

It is yet to commence operations. Turnover for the last three years - Not Applicable.