IOL Chemicals and Pharmaceuticals Limited informed that a wholly owned subsidiary of the Company by the name `IOL GLOBAL LIMITED' has been Incorporated in UK under the Companies Act 2006 of the England and wales on 30 January 2022. Share Capital: GBP 100,000. The initial subscription by the Company does not fall within the purview of Related Party Transaction.

However, being a wholly-owned foreign subsidiary, IOL Global Limited shall be a related party of the Company. The promoter/promoter group/group companies do not have any interest in the IOL Global Limited except that the IOL Global Limited shall be a wholly-owned subsidiary of the Company. Industry to which the entity being acquired belongs: Pharmaceuticals/Chemicals; Objects and effects of acquisition: The wholly owned foreign subsidiary is incorporated to carry on the business in the field of Pharmaceuticals/Chemicals.

Percentage of shareholding /control acquired and/or number of shares acquired: 100%.