JINDAL PHOTO LIMITED : INITIAL PUBLIC ANNOUNCEMENT ON DELISTING PROPOSAL

• Saffron Capital Advisors Private Limited appointed Manager to the Offer for delisting of equity shares of Jindal Photo Limited • Concatenate Power Advest Private Limited, Concatenate Advest Advisory Private Limited, and Jindal India Power Limited express intention to acquire all equity shares held by public shareholders • The intention is to consequently voluntarily delist the equity shares from bse and nse • The 'floor price' will be determined in accordance with regulation 19a of delisting regulations • The discovered price will be determined through the reverse book building process • Acquisition conditional upon due diligence, board and shareholder approvals, and stock exchange approvals • Acquirers and pac confirm firm financial arrangements for delisting offer obligations • Information pertaining to the target company obtained from publicly available sources, accuracy not independently verified by the manager Impact: acquisition of public shares for voluntary delisting.

Jindal Photo Ltd

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