Rs. 1,61,023 per share fixed as Floor Price for delisting offer of ELCID Investments Ltd

20 March 2022

JM Financial Limited, the offer's manager, announced that Dipika Chemicals Private Limited (the "Acquirer") and Ms Dipika Amar Vakil ("PAC 1"), Mr Varun Amar Vakil ("PAC 2"), and Amar Arvind Vakil HUF ("PAC 3"), persons acting in concert with the Acquirer (collectively "PACs"), for and on behalf of certain members of the Company's promoter and promoter group announced that the floor price of the delisting offer is INR 1,61,023 for equity share of the Company, is which is determined in accordance with Regulation 20(2) of the Delisting Regulations read with Regulation 8 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The letter was accompanied by a certificate certifying the floor price, dated March 20, 2022, and issued by NBT and Co, Chartered Accountants (FRN: 140489W).

The aforesaid offer letter will be presented to the Company's board of directors at its meeting planned for March 28, 2022.