DIC India : Acquisition

June 23, 2022
The Corporate Relationship Department	The Calcutta Stock Exchange Ltd.
BSE Limited,	71 Lyons Range,
P.J. Towers, Dalal Street,	Kolkata- 700001
Mumbai- 400001	Scrip Code: 10013217
Scrip Code: 500089

National Stock Exchange of India Limited,

Exchange Plaza, 5th Floor, Plot No. C/1, G Block,

Bandra Kurla Complex,

Bandra (E), Mumbai - 400051

Scrip Code: DICIND

Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/ Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform your good office that DIC India Limited (the Company) on June 23, 2022 have entered into an agreement with M/s. Solarstream Renewable Services Pvt. Ltd (Target Company) to acquire 5.1% issued and paid-up equity share capital of the Target Company, in our capacity as the captive consumer. The Target Company is engaged in the business of solar power generated and is developing a Solar Power Plant in the State of Uttar Pradesh. In order to meet the electricity requirement for the Company's manufacturing plants located at Noida, Uttar Pradesh in terms of the (Indian) Electricity Act, 2013, we will be procuring power as captive consumer from the Solar Power Plant.

In this regard, please find attached details of proposed acquisition as per SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015 as Annexure-A.

This is for your information and record.

Thanking You,

Yours Faithfully,

For DIC India Limited

(Raghav Shukla)

Corp. GM -Legal &

Company Secretary

M. No F5252

Date: June ___, 2022

Place: Noida

DIC INDIA LIMITED

Fusion square, 5th Floor, Plot no. 5A & 5B, Sector-126, Noida - 201303

Tel: [phone] I Fax: [phone]

CIN No. L24223WB1947PLC015202

Website: www.dic.co.inI Email id: [e-mail]

Registered office: Transport Depot Road, Kolkata - 700088

Annexure-A

Details as per SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015

Name of the target entity, details in brief	Name: Solar Stream Renewable Services
such as size, turnover etc.;	Private Limited
	Size: Equity Share Capital of Rs.
	1,65,40,000/-.
	Turnover: The turnover of the entity as on
	March 31, 2022 is Nil.
Whether the acquisition would fall within	No. The acquisition would not fall within
related party transaction(s) and whether the	related party transaction(s) and the
promoter/ promoter group/ group companies	promoter/ promoter group/ group companies
have any interest in the entity being	do not have any interest in the entity being
acquired?	acquired.
If yes, nature of interest and details thereof
and whether the same is done at "arm's
length";
Industry to which the entity being acquired	Renewable Energy
belongs;
Objects and effects of acquisition (including	To purchase 1.03 MWac / 1.55 MWp Solar
but not limited to, disclosure of reasons for	Power generated at the Solar Power Plant to
acquisition of target entity, if its business is	meet the electricity requirement for the
outside the main line of business of the listed	Company's manufacturing plants located at
entity);	Greater Noida,
	Uttar Pradesh in terms of the (Indian)
	Electricity Act, 2013.
	Consequent to the acquisition, the Company
	shall hold 10.1% equity in the target
	Company.
Brief details of any governmental or	No governmental or regulatory approval
regulatory approvals required for the	required.
acquisition;
Indicative time period for completion of the	July 30, 2022
acquisition;
Nature of consideration - whether cash	Cash Consideration.
consideration or share swap and details of
the same;
Cost of acquisition or the price at which the	At face value i.e. Rs. 10/- aggregating to Rs.
shares are acquired;	49,60,000 /-.

DIC INDIA LIMITED

Fusion square, 5th Floor, Plot no. 5A & 5B, Sector-126, Noida - 201303

Tel: [phone] I Fax: [phone]

CIN No. L24223WB1947PLC015202

Website: www.dic.co.inI Email id: [e-mail]

Registered office: Transport Depot Road, Kolkata - 700088

Percentage of shareholding / control to be	5.1% shareholding consisting of 4,96,000
acquired and / or number of shares to be	equity shares of Rs. 10/- each.
acquired;
Brief background about the entity acquired in	Brief Background: The entity is into the
terms of products/line of business acquired,	business of Renewable Energy and a Special
date of incorporation, history of last 3 years	Purpose Vehicle to own and operate a captive
turnover, country in which the acquired	power plant.
entity has presence and any other significant	Last 3 year's turnover:
information (in brief);	FY 2019-20: NIL
	FY 2020-21: NIL
	FY 2021-22: NIL
	Line of business: Renewables Energy
	Incorporation date: February 02, 2019
	Country of Presence: India
	Other significant information: Entity is a
	subsidiary of Radiance Renewables Private
	Limited and is developing a Captive Solar
	Power Plant in Uttar Pradesh.

DIC INDIA LIMITED

Fusion square, 5th Floor, Plot no. 5A & 5B, Sector-126, Noida - 201303

Tel: [phone] I Fax: [phone]

CIN No. L24223WB1947PLC015202

Website: www.dic.co.inI Email id: [e-mail]

Registered office: Transport Depot Road, Kolkata - 700088