SUMMARY OF THE PROPOSED TRANSACTION

[In terms of Regulation 13(1A) of the Competition Commission of India (Procedure

in regard to the transaction of business relating to combinations) Regulations,
2011, (as amended)]

A. Name of the parties to the combination

1. The parties to the combination are:

a) Minda Corporation Limited (“Acquirer”);

b) Pricol Limited (“Target”).

2. The Acquirer and Target are collectively referred to as the “Parties”.

B. Nature and purpose of the combination

3. The transaction is in the nature of an "Acquisition” under Section 5(a)(i)(A) of

the Competition Act, 2002 (“the Act”) of upto 24.50% of the issued and paid-
up equity share capital of Target by the Acquirer (“Proposed Transaction”).

4. The Acquirer has decided to further invest in Target with a view to strengthen
and align future plans evolving in auto components manufacturing sector.

C. Products, services and business(es) of the parties to the combination

5. Acquirer: The Acquirer is engaged in the business of manufacturing of auto-

components parts and caters to Original Equipment Manufacturers (“OEMs”)
and Tier-1 in various segments in India.

6. Target: The Target is engaged in the business of manufacturing of automobile

components for OEMs & Tier-1 and replacement markets across India and in
International Markets.

D. Respective markets in which the parties to the combination operate:

7. The Proposed Transaction will not cause any appreciable adverse effect on
competition (“AAEC”) in India, as such, it is not necessary to define the relevant
market. However, for the purposes of the Hon’ble Commission’s assessment,
the relevant market may be defined as “automotive market in India including
2/3 wheelers, 4 wheelers, Commercial Vehicles, Tractors, etc.”.