Sasken Technologies Ltd - Announcement under Regulation 30 (LODR)-Acquisition

This is in continuation to our letter dated September 18, 2023 wherein we have informed your goodselves that the Board of Directors of the Company have considered and approved a proposal for making a strategic investment not exceeding Rs. 50 crores either directly or by entering into a joint venture along with one of the companies having global presence, specializing in Advanced AI/5G/Power driven IP licensing, custom ASIC design and foundry service business. We wish to inform you that pursuant to the said approval of the Board, the Company by investing Rs. 33.20 crores today i.e. March 20, 2024 in one of the companies viz. Anups Silicon Services Private Limited (ASSPL) to acquire 60% equity share capital of ASSPL and subscribe to the Compulsory Convertible Debentures offered by the ASSPL by way of preferential issue on a private placement basis. Pursuant to said investment, ASSPL will become a subsidiary of the Company.