Intimation for acquisition of Subsidiary

Confidence Petroleum India Limited has acquired the remaining 50% stake (25,00,000 equity shares) in BW Confidence Enterprise Private Limited from BW LPG Infrastructure DMCC for a total consideration of Rs. 1,13,42,434.29 at Rs. 4.536 per share. With this acquisition, BW Confidence Enterprise Private Limited becomes a wholly owned subsidiary of Confidence Petroleum. The target entity operates in the petroleum gases sector and was originally set up as a joint venture between the two parties, which could not be continued due to commercial and strategic considerations. The transaction was a cash deal done at arm's length basis and is expected to be completed within 7 days.