Acquisition

September 21, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, "Exchange Plaza", Bandra - Kurla Complex, Dalal Street, Bandra East, Mumbai – 400001 Mumbai - 400051 Scrip Code: 543416 Symbol: ZODIAC Dear Sir/Ma’am, Sub: Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015 (“SEBI Listing Regulations”) - Acquisition of majority Equity stake in Zenwatt Clean Energy Private Limited. Pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), and in continuation of our earlier disclosure dated February 09, 2026, intimating the outcome of the meeting of the Board of Directors of Zodiac Energy Limited (the “Company”), wherein the Board had approved the strategic investment in and acquisition of an equity stake in, Zenwatt Clean Energy Private Limited (“Zenwatt”), We hereby inform you that the Company has completed the acquisition of a majority equity stake of 63.5% in Zenwatt Clean Energy Private Limited. Consequent to the completion of the aforesaid acquisition, Zenwatt Clean Energy Private Limited has become a Subsidiary of our Company with effect from September 21, 2026. Further Details with respect to said Acquisition as required under regulation 30 of listing regulations read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, is enclosed as Annexure- I. Kindly take this on your records. Thanking You. Yours faithfully, For, Zodiac Energy Limited Divya Joshi Company Secretary & Compliance Officer Place: Ahmedabad Encl: A/a Annexure- I Further Details with respect to said Acquisition as required under regulation 30 of listing regulations read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are given as under: Sr. Particulars Details 1. Name of the target entity, details in brief such as Zenwatt Clean Energy Private Limited size, turnover etc. CIN: U27900GJ2023PTC142722 Share Capital: Authorized Share Capital: Rs. 3,00,00,000 /- divided into 30,00,000 Equity Shares of Rs. 10/- each. Paid-up Share Capital: Rs. 1,00,00,000/- divided into 10,00,000 Equity Shares of Rs. 10/- each. Turnover (FY-2025-26): Rs. 5,13,000 2. Whether the acquisition would fall within related Yes. The Promoter and members of the Promoter Group are party transaction(s) and whether the promoter / interested in the acquisition, as the Company is acquiring promoter group / group companies have any 63.5% of equity stake of Zenwatt Clean Energy Private interest in the entity being incorporated? If yes, Limited. nature of interest and details thereof and whether the same is done at “arm’s length.” The transaction is being undertaken on an arm’s length basis and in accordance with applicable laws. 3. Industry to which the entity being acquired The Company is engaged in the business of Battery Energy belongs Storage Systems (BESS) 4. Objects and impact of acquisition (including but The object of the Company is in line with the object of the not limited to, disclosure of reasons for company. The said acquisition would result in further acquisition of target entity, if its business is expansion of the business of our Company and support the outside the main line of business of the listed Company's long-term business expansion strategy, expand entity) its renewable energy portfolio, and strengthen its operational capabilities. 5. Brief details of any governmental or regulatory NA approvals required for the acquisition 6. Indicative time period for completion of the The Acquisition process has been completed. acquisition 7. Nature of consideration - whether cash Cash consideration consideration or share swap or any other form and details of the same 8. Cost of acquisition or the price at which the The purchase price is Rs. 18/- per Equity Share. shares are acquired The Company has acquired 63.5% of the equity share capital of Zenwatt Clean Energy Private Limited, comprising 6,35,000 Equity Shares of face value of Rs. 10/- each, for an aggregate consideration of Rs. 1,14,30,000/-. 9. Percentage of shareholding / control acquired The Company has acquired 63.5% of equity shareholding and / or number of shares acquired and control of the paid-up share capital of Zenwatt Clean Energy Private Limited by acquiring 6,35,000 equity shares. Consequent to the acquisition, Company has become a subsidiary of the Company. 10. Brief background about the entity acquired in Zenwatt Clean Energy Private Limited was incorporated on terms of products/line of business acquired, date July 07, 2023 and is currently engaged in the business of of incorporation, history of last 3 years turnover, Battery Energy Storage Systems (BESS). country in which the acquired entity has presence and any other significant information Last 3 Years Turnover: (in brief) Financial Year Turnover (Rs.) 2025-26 Rs. 5,13,000 2024-25 Nil 2023-24 Nil Country in which the acquired entity has presence: India