Tata Communications : Sale or disposal of unit/ division/subsidiary

HQ/CS/CL.24B/17407

December 14, 2022

National Stock Exchange of India Limited	BSE Limited
Exchange Plaza, Bandra Kurla Complex,	P.J. Towers, Dalal Street,
Mumbai - 400 051	Mumbai - 400 001
SYMBOL: TATACOMM	Scrip Code: 500483
Dear Sir / Madam,

Sub: Intimation under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015

Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, please be informed that the Company has entered into a business transfer agreement ('Agreement') for sale/transfer/hive-off of the Company's non-network Internet of Things business comprising of Device, Application, Platform and Managed Services components ('identified business undertaking') to its wholly-owned subsidiary, Tata Communications Collaboration Services Private Limited (TCCSPL) as a going concern on 'slump sale' basis.

The transfer of the identified business undertaking to TCCSPL is subject to the satisfaction of conditions precedent as stipulated in the Agreement and receipt of such permissions and consents, that may be required.

Additional details as required under SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015 are mentioned in Annexure 1.

The aforesaid disclosure is also available on the website of the Company at https://www.tatacommunications.com/investors/filings/

Thanking you,

Yours faithfully,

For Tata Communications Limited

ZUBIN ADIL PATEL

Digitally signed by

ZUBIN ADIL PATEL Date: 2022.12.14 09:57:36 +05'30'

Zubin Adil Patel

Company Secretary and Compliance Officer

Encl.: as above

Tata Communications Limited

Regd. Office: VSB Mahatma Gandhi Road Fort Mumbai - 400 001

Tel: [phone] email: [e-mail]

CIN: L64200MH1986PLC039266 website: www.tatacommunications.com

Disclosure under sub-para (1) [i.e., sale or disposal of any unit(s), division(s) or subsidiary of the listed entity*] of Para A of Part A of Schedule III to the Regulation 30 of the SEBI Listing Regulations

Sr.	Particulars
No.
1	The amount and percentage of the	The networth, basis the carved out Balance Sheet,
	turnover or revenue	or	income and	net	as of September 30, 2022, was ₹42.34 crores. The
	worth	contributed	by		such	unit	or	turnover and networth from non-network Internet of
	division	of the	listed	entity during	the
	Things business comprising of Device, Application,
	last financial year
						Platform and Managed Services components
									('identified business undertaking') has not been
									prepared (or ascertained) at this stage.
									Further, the transaction is between the Company and
									its wholly owned subsidiary whose financials forms
									part of the consolidated financial statement.
2	Date on which the agreement for sale has	December 14, 2022
	been entered into
3	The expected date of completion of	On completion of the required terms and conditions
	sale/disposal							and after obtaining necessary regulatory/other
									consents, if any. Tentative date of closure of
									transaction: January 1, 2023
4	Consideration	received	from	such	₹42.34 crores (subject to final adjustments)
	sale/disposal;
5	Brief details of buyers and whether any of	Tata Communications Collaboration Services Private
	the buyers belong to the promoter/	Limited (TCCSPL), a wholly owned subsidiary of the
	promoter group/group companies. If yes,	Company.
	details thereof;
6	Whether the transaction would fall within	The transaction is within the ambit of related party
	related party transactions?	If yes, whether	transactions and the value has been ascertained in
	the same is done at "arm's length"		accordance with arm's length pricing principle.

Additional indicative disclosures to be disclosed by the listed entity with respect to slump sale

7	Name of the entity(ies) forming part of the	Tata	Communications	Limited	and		Tata
	amalgamation/merger, details in brief such	Communications	Collaboration Services	Private
	as, size, turnover etc.	Limited (TCCSPL), a wholly owned subsidiary of
		Tata Communications Limited. Both the companies
		are	engaged	in	providing	business	of
		telecommunications services.
		Financial details as of March 31, 2022:
		TCCSPL:
		Networth: ₹54.86 crores
		Turnover: ₹79.14 crores
		Tata Communications Limited:
		Networth: ₹9,802.63 crores
		Turnover: ₹6,587.35 crores
8	Whether the transaction would fall within	Refer point 6 above
	related party transactions? If yes,
	whether the same is done at "arms length";

9	Area of business of the entity(ies)	Telecommunications
10	Rationale for amalgamation/ merger;	The hive-off of the identified business undertaking to
		TCCSPL will support and simplify the IoT business
		and enable it for growth, focused on customers'
		issue-based problem solving in a network agnostic
		way, generating customer value creation and being
		the market leader in the IOT segment.
11	In case of cash consideration -amount or	Cash consideration of ₹42.34 crores (subject to final
	otherwise share exchange ratio	adjustments)
12	Brief details of change in shareholding	There will not be any change to the shareholding
	pattern (if any)of listed entity	pattern of any entity pursuant to this transaction.

*Note: The aforementioned transaction is not a material transaction for Tata Communications Limited.