1. Soleite Limited    2. PMC Ventures India Ltd. · 13 Aug 2025

Summary of the Proposed Transaction (In terms of Regulation 13(2) of the Competition Commission of India (Combination) Regulations, 2024)

A. Parties to the Proposed Transaction

1. The parties to the Proposed Transaction (as defined below) are as follows:

I. Acquirers

• i. Soleite Limited (Soleite);
• ii. PMC Ventures India Limited (PMC); and

II. Targets

• i. Lightsource India Holdings (Mauritius) Limited (LIH); and
• ii. Lightsource India Investments (UK) Limited (LII)

B. Nature and purposes of the Proposed Transaction

2. The Proposed Transaction relates to the indirect acquisition by Mr. Nicholas Thomson Boyle (NTB) and Mr. Paul McCartie (PM), through their wholly owned intermediary entities, Soleite and PMC, respectively, of the entire issued share capital of LIH and LII (Proposed Transaction).

3. The Proposed Transaction represents an opportunity for the Acquirers to engage their investment footprint in Indian green energy and increase their investments in the climate-focused asset management space. In doing so, the Acquirers aim to enter India’s climate-focused sustainable business sector including its growing renewable energy market.

C. Relevant products, services and business(es)

I. Acquirers

• i. Soleite: Soleite is wholly owned by NTB. It is incorporated under the laws of England and Wales with registered number 15732648, having its registered office at Mha, 1 The Forum, Minerva Business Park, Peterborough, United Kingdom, PE2 6FT.
• ii. PMC: PMC is wholly owned by PM. It is a company incorporated under the laws of England and Wales with registered number 15710133, having its registered office at The Pinnacle Building A, 150-170 Midsummer Boulevard, Milton Keynes, Buckinghamshire, United Kingdom, MK9 1FD

II. Targets

• i. LIH: LIH is a private company incorporated in 2012 under the laws of England and Wales. It is a holding company in the energy infrastructure sector.
• ii. LII: LII is a private company incorporated in 2012 under the laws of England and Wales. It is a holding company in the energy infrastructure sector.

D. Respective markets in which parties to the Proposed Transaction operate

4. The Parties submit that the Proposed Transaction will not lead to any appreciable adverse effect on competition (AAEC) because the Parties to the Proposed Transaction, including their affiliates, do not exhibit any horizontal overlaps, vertical relationships, or complementary linkages in any plausible relevant markets in India.

5. Accordingly, the Proposed Combination is being notified under the green channel route in consonance with Section 6(4) of the Competition Act, 2002 (as amended) read with the Competition (Criteria of Combination) Rules, 2024.

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