The Board of Directors ("Board") of Ceinsys Tech Limited ("Company"), at its Meeting held today, has approved the acquisition of 100% equity stake in Allygrow Technologies Private Limited ("Target Company") from its existing shareholders for a total consideration not exceeding Rs. 68,06,94,298/- (Sixty Eight Crores Six Lakhs Ninety Four Thousand Two Hundred and Ninety Eight only) to be discharged partly by Cash consideration of Rs.ll, 79,19,618/- (Rupees. Eleven Crores Seventy Nine Lakhs Nineteen Thousand Six Hundred and Eighteen Only) and remaining consideration of Rs.56,27,74,680/- (Rupees Fifty Six Crores Twenty Seven Lakhs Seventy Four Thousand Six Hundred and Eighty Only), by issuance of up to 36,07,530 equity shares of Rs..10/- each of the Company at an Issue price of Rs.156/- per equity share. In furtherance of the same, the Company has entered into Share Purchase Agreement (SPA) with the Target Company and its existing Shareholders on December 22, 2021, to record the terms and conditions of the Strategic Investment, including the terms on which the Company shall acquire 2,52,780 equity shares (Class B) of the issued and paid up share capital of Allygrow Technologies Private Limited. The board approved issue of upto 36,07,530 Equity shares of face value of Rs. 10/- each of the Company, at an issue price of Rs. 156-/- per equity share aggregating to Rs. 56,27,74,680 (Rupees Fifty Six Crores Twenty Seven Lakhs Seventy Four Thousand Six Hundred and Eighty Only), to the existing shareholders of Target Company, as consideration other than cash pursuant to the SPA dated December 22, 2021, on a preferential basis (Preferential Issue), in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, Companies Act, 2013 and other applicable laws, subject to approval of the shareholders and such regulatory/ statutory authorities as may be applicable. Post completion of this acquisition, Allygrow Technologies Private Limited will become wholly owned subsidiary of the Company and consequently the subsidiaries of Allygrow Technologies Private Limited will become stepdown subsidiaries of the Company. The board also approved issue of upto 7,06,782 Equity shares of face value of Rs.10/- each of the Company, for cash, at an issue price of Rs. 156/- per Equity Share aggregating to Rs. 11,02,57,992/- (Rupees Eleven Crores Two Lakhs Fifty Seven Thousand Nine Hundred and Ninety Two Only) to Mr. Sagar Meghe and Mrs. Devika Meghe, persons belonging to promoter or promoter group ofthe Company, on a preferential basis ("Preferentiallssue"). The Company intends to diversify and add Engineering Design Services (EDS) as one of the Business Domain. As the intended organization is operating in the international markets, it will help to expand Ceinsys' business domain. Allygrow Technologies Private Limited is a technology-driven core engineering services company led by passionate technocrats who hold decades of rich experience in building successful strategic partnerships in the engineering services space. The company was incorporated on 6th July, 2015 with its headquarters in Pune, India. Over the last 6 years, the company has built its core competencies both organically as well as inorganically in the Automotive engineering services space. As of date the company has a presence in US, Europe, and India and specializes in Product design and Robotics automation (Manufacturing Engineering) services. The company executes projects right from concept to product launch phase for marque clients such as General Motors USA,Caterpillar Inc, Grammer GmbH, etc. The company has 200+ employees worldwide and consolidated annual revenues for last three years was: FY21: Rs.57.3 Cr, FY20: Rs.56.6 Cr and FY19: Rs.55.9 Cr. Shares of Ceinsys Tech Ltd was last trading in BSE at Rs. 175.90 as compared to the previous close of Rs. 173.25. The total number of shares traded during the day was 1977 in over 68 trades. The stock hit an intraday high of Rs. 183.95 and intraday low of 172.00. The net turnover during the day was Rs. 348935.00.

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