1. Esturik Investments Pte. Ltd.    2. Vonix Pte Limited

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Summary in terms of Regulation 13(2) of the Competition Commission of India (Combinations) Regulations, 2024 (as amended) A. Parties to the combination are: Acquirers 1. The following are collectively referred to as the “Acquirers”: a. Vonix Pte. Ltd. (“Vonix / Vonix Acquirer”) b. Esturik Investments Pte. Ltd (“Esturik / Esturik Acquirer”) Target 2. The following is referred to as the “Target”. a. Wardha Steel Holdings Pte. Ltd. (“Wardha”) 3. The Acquirers and the Target are collectively referred to as the “Parties”. B. Nature and Purpose of the Combination: 4. The transaction envisages the acquisition of c e r t a i n shareholding i n the Target collectively by Esturik Acquirer and Vonix Acquirer from CVI CVF Singapore Holdings VCC and its sub-funds (“Seller”). The Seller will completely exit from the Target through the sale of its shareholding. The Proposed Transaction (defined below) envisages the following: a. Acquisition by Esturik Acquirer: Esturik, a wholly-owned subsidiary of Evonith, will acquire c e r t a i n shareholding i n t h e Target from t h e Seller; and b. Acquisition by Vonix Acquirer: Upon being designated as the additional buyer by Esturik, Vonix A c q u i r e r will acquire the S e l l e r ' s b a l a n c e shareholding i n the Target. Steps (a) and (b) collectively comprise the “Proposed Transaction”. C. Products, Services and Businesses of the Parties: 5. Esturik: Esturik has no direct presence in India a n d i s i n d i r e c t l y p r e s e n t in t h e manufacturing o f s t e e l p r o d u c t s through the Target a n d i ts two subsidiaries in India. 6. Vonix: Vonix does not have any business operations as it is a newly-formed standalone investment vehicle with a singular purpose of owning a minority equity in the Target. 7. Wardha: Wardha is a Singapore based holding company. Wardha through its two subsidiaries in India i.e., EML and EVSL is engaged in manufacturing of flat steel and other variety products such as hot-rolled coil, cold-rolled coil ad galvanized steel. D. Respective markets in which the Parties operate: 8. The activities of the Parties’ (including their affiliates) do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets in India. 9. Accordingly, the Proposed Combination is being notified under Section 6(4) of the Competition Act read with Rule 3 of the Competition (Criteria of Combination) Rules, 2024.