11 January 2023

BSE Limited,

National Stock Exchange of India Limited,

Phiroze Jeejeebhoy Towers,

Exchange Plaza, Bandra Kurla Complex,

Dalal Street, Mumbai - 400 001

Bandra East, Mumbai - 400 051

Scrip Code: 500870

Scrip Symbol: CASTROLIND

Dear Sir/Madam,

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

With reference to our letter dated 25 November 2022 on the subject (copy enclosed), it is hereby informed to you that Castrol India Limited ("the Company"), completed the acquisition of 7.09% stake (on a fully diluted basis post acquisition) in ki Mobility Solutions Private Limited ("ki Mobility") on 10 January 2023. ki Mobility is a part of TVS Mobility group, one of the large players in the India automotive industry and houses all the recent acquisitions of the TVS Mobility group in the India automotive aftermarket. ki Mobility is one of the leading players in the automotive service, maintenance and repair sector in India.

In this regard, please find enclosed the details required to be disclosed pursuant to Regulation 30 of the SEBI Listing Regulations, read with the SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015.

This intimation is also being made available on the Company's website at: https://www.castrol.com/en_in/india/home/investors/intimation-to-share-holders.html

Kindly take the above information on your record.

Thank you,

Yours faithfully,

For Castrol India Limited

Hemangi Ghag

Company Secretary & Compliance Officer

Encl.: A/a

Annexure 1:

Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015

Sl.

Particulars

Disclosure

No.

1.

Name of the target entity

ki Mobility Solutions Private Limited ("ki Mobility")

2.

Whether the acquisition would fall

No

within related party transaction(s) and

whether the promoter/ promoter

None of the Promoter(s)/persons belonging to the

group/ group companies have any

Promoter(s) Group and/or group companies, of

interest in the entity being acquired? If

Castrol India Limited, are concerned or interested in

yes, nature of interest and details

this transaction.

thereof and whether the same is done

at "arm's length"

  1. Industry to which the entity being Indian automotive aftermarket service industry acquired belongs
  2. Objects and effects of acquisition This Strategic investment is aimed at expanding

(including but not limited to,

Castrol India's presence in the aftersales service &

disclosure of reasons for acquisition

maintenance segment. This will drive value

of target entity, if its business is

generation on account of accelerated pursuit of

outside the main line of business of

service and maintenance ambition. Both Castrol

the listed entity)

and ki Mobility will explore business and

technology collaborations under this partnership, to

bring transformative disruption within the currently

fragmented automotive service sector and create

leadership position together with a forward focus

on EV readiness.

5.

Brief details of any governmental or

Not applicable

regulatory approvals required for the

acquisition

  1. Indicative time period for the N.A. completion of the acquisition.
  2. Nature of consideration - whether Cash cash consideration or share swap and details of the same

8.

Cost of acquisition or the price at

The Company has acquired 7.09% stake in the share

which the shares are acquired

capital (on a fully diluted basis) of ki Mobility, for a

total consideration of INR 487.50 Crores, by way of

subscription to the following shares issued by ki Mobility:

a. 95,083 Compulsorily Convertible Preference shares (Series C) of Rs. 10 each

  1. 100 Equity shares of Rs. 10 each

9. Percentage of shareholding / control 7.09% stake in the share capital (on a fully diluted acquired and / or number of shares basis post tranche 2) of ki Mobility through

acquiredsubscription of Compulsorily Convertible Preference shares (Series C) and equity shares, as per the details given above in point no. 8.

10. Brief background about the entity ki Mobility, a company incorporated under the

acquired in terms of products/line of

Companies Act, 2013 in India on 30 September 2018

business

acquired,

date

of

and headquartered at Madurai, Tamil Nadu, is a

incorporation, history of last 3 years

part of TVS mobility group, one of the large players

turnover, country in which the

in the India automotive aftermarket industry and

acquired entity has presence and any

houses all the recent acquisitions TVS mobility

other significant information (in brief)

group has done in the India automotive aftermarket:

MFCS, Gobumpr, CarCrew Technologies. It aims to

provide an end-to-end vehicle life cycle

management and connected vehicle proposition for

consumers at the same time creating a unified

seamless experience to all the ecosystem players

[consumer, workshops, parts supply chain and B2B

partnerships] on its tech platform.

Details of last 3 years' Turnover of ki Mobility (on

Consolidated basis):

Year

Turnover

(in INR Crores)

FY 2021-22

1206.95

FY 2020-21

819.28

FY 2019-20

544.97

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Castrol India Ltd. published this content on 11 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2023 08:50:02 UTC.