Nahar Industrial Enterprises Limited informed that the Board of Directors of the Company at their meeting held on April 20, 2024 have approved diversification in the field of hospitality business in the interest of the Company and for that purpose decided to incorporate a Wholly Owned Subsidiary of the Company to carry out the hospitality business. The details as required under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015, read with SEBI Circular No.CIR/CFD/CMD/4/2015 dated September 09, 2015 Authorized Capital: INR 5,00,000 (Rupees Five lacs only) The wholly owned subsidiary company once incorporated will be a related party of the company. Save and except what is mentioned above, the promoter /promoter group are not interested in the transaction.

Industry to which the entity being acquired belongs: Hospitality. Object and effects: The proposed wholly owned subsidiary company to be incorporated in India shall carry business/projects in the field of hospitality/hotels and related activities. Nature of consideration: 100% subscription to the share capital in cash.

Cost of acquisition or the price at which shares are acquired: Face value. Percentage of shareholding /control |acquired and /or number of shares | acquired: 100%.