With reference to our earlier announcement regarding Outcome of the Board Meeting held on 5^th March, 2020 mentioning “Approval for incorporation of a new 100% Subsidiary (Wholly owned Subsidiary) of Ester Industries Limited.”, we wish to intimate that a company in the name of “ESTER FILMTECH LIMITED” has been incorporated in India on 21^st July, 2020  as 100% Subsidiary (Wholly owned Subsidiary) of Ester Industries Limited (the Company). The Company has subscribed initial capital of 1,50,000 Equity Shares of Rs. 10/- each aggregating to Rs. 15,00,000/- for cash consideration in Wholly owned Subsidiary.