Brigade Enterprises IFC Investment Framework Agreement

Key Transaction Details

Brigade Enterprises Limited (BEL) has entered into an Investment Framework Agreement with International Finance Corporation (IFC). The agreement establishes a framework for both parties to invest in eligible middle-income housing projects.

Subsidiary Financing Structure

Pursuant to this agreement, Venusta Ventures Private Limited, a wholly owned subsidiary of BEL, will issue unsecured, rated, redeemable, rupee-denominated non-convertible debentures (NCDs) to IFC. These NCDs will be issued in one or more tranches and are proposed to be listed on the wholesale debt market segment of BSE.

Significant Terms and Conditions

• International Finance Corporation will receive customary lender rights, including the right to appoint a director to the board of Venusta Ventures Private Limited.
• IFC will have the right to restrict any change in the capital structure of Venusta Ventures Private Limited.
• The transaction is not a related party transaction and is being conducted at arm's length.
• No shares are being issued to IFC as part of this arrangement.

Corporate Structure

Venusta Ventures Private Limited is confirmed as a wholly owned subsidiary of Brigade Enterprises Limited. International Finance Corporation is not related to the promoter or promoter group of BEL.

Additional Information

The complete disclosure has been hosted on the company's website at www.brigadegroup.com.