ISSUE PROCEDURE

All Bidders should read the General Information Document for Investing in Public Issues prepared and issued in accordance
with the circular no. SEBI/HO/CFD/DIL1/CIR/P/2020/37 dated March 17, 2020 and the UPI Circulars (the “General
Information Document”), which highlights the key rules, processes and procedures applicable to public issues in general in
accordance with the provisions of the Companies Act, the SCRA, the SCRR and the SEBI ICDR Regulations which is part of the
abridged prospectus accompanying the Bid cum Application Form. The General Information Document is available on the
websites of the Stock Exchanges and the Book Running Lead Managers. Please refer to the relevant provisions of the General
Information Document which are applicable to the Issue especially in relation to the process for Bids by RIBs through the UPI
Mechanism. The investors should note that the details and process provided in the General Information Document should be
read along with this section.

Additionally, all Bidders may refer to the General Information Document for information in relation to (i) category of investors
eligible to participate in the Issue; (ii) maximum and minimum Bid size; (iii) price discovery and allocation; (iv) payment
instructions for ASBA Bidders; (v) issuance of Confirmation of Allocation Note (“CAN”) and Allotment in the Issue; (vi) general
instructions (limited to instructions for completing the Bid cum Application Form); (vii) designated date; (viii) disposal of
applications; (ix) submission of Bid cum Application Form; (x) other instructions (limited to joint bids in cases of individual,
multiple bids and instances when an application would be rejected on technical grounds); (xi) applicable provisions of
Companies Act relating to punishment for fictitious applications; (xii) mode of making refunds; and (xiii) interest in case of
delay in Allotment or refund.

  

SEBI vide its circular no. SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated November 1, 2018 read with its circular no.
SEBI/HO/CFD/DIL2/CIR/P/2019/50 dated April 3, 2019, has introduced an alternate payment mechanism using Unified
Payments Interface (“UPI”) and consequent reduction in timelines for listing in a phased manner. From January 1, 2019, the
UPI Mechanism for RIBs applying through Designated Intermediaries was made effective along with the existing process and
existing timeline of T+6 days. (“UPI Phase I”). The UPI Phase I was effective till June 30, 2019.

With effect from July 1, 2019, SEBI vide its circular no. SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, 2019, read with
circular bearing number SEBI/HO/CFD/DIL2/CIR/P/2019/85 dated July 26, 2019 with respect to Bids by RIBs through
Designated Intermediaries (other than SCSBs), the existing process of physical movement of forms from such Designated
Intermediaries to SCSBs for blocking of funds has been discontinued and only the UPI Mechanism for such Bids with existing
timeline of T+6 days was mandated for a period of three months or launch of five main board public issues, whichever is later
(‘UPI Phase II”). Subsequently, however, SEBI vide its circular no. SEBI/HO/CF D/DIL2/CIR/P/2020/50 dated March 30, 2020
extended the timeline for implementation of UPI Phase II till further notice. However, given the prevailing uncertainty due to
the COVID-19 pandemic, SEBI vide its circular no. SEBI/HO/CF D/DIL2/CIR/P/2020/50 dated March 30, 2020, has decided to
continue with the UPI Phase II till further notice. The final reduced timeline will be made effective using the UPI Mechanism
for applications by RIBs (“UPI Phase III”), as may be prescribed by SEBI. The Issue has been undertaken pursuant to the
processes and procedures under UPI Phase II, subject to any circulars, clarification or notification issued by the SEBI from time
to time.

  

Our Bank, the Selling Shareholders and the Syndicate do not accept any responsibility for the completeness and accuracy of the
information stated in this section and are not liable for any amendment, modification or change in the applicable law which may
occur after the date of the Red Herring Prospectus and this Prospectus. Bidders were advised to make their independent
investigations and ensure that their Bids are submitted in accordance with applicable laws and did not exceed the investment
limits or maximum number of the Equity Shares that can be held by them under applicable law or as specified in the Red Herring
Prospectus and this Prospectus.

Further, our Bank, the Selling Shareholders and the Syndicate are not liable for any adverse occurrences consequent to the
implementation of the UPI Mechanism for application in this Issue.

Book Building Procedure

The Issue has been made in terms of Rule 19(2)(b) of the SCRR, through the Book Building Process in accordance with
Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Net Issue was made available for allocation
on a proportionate basis to QIBs, provided that our Bank and the Selling Shareholders, in consultation with the Book Running
Lead Managers, have allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI
ICDR Regulations, of which one-third was reserved for domestic Mutual Funds, subject to valid Bids having been received from
domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5% of the Net QIB Portion was made available
for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was made available for
allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids
having been received at or above the Issue Price. Further, not less than 15% of the Net Issue was available for allocation on a
proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue was available for allocation to Retail
Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the
Issue Price. Furthermore, 500,000 Equity Shares, aggregating to = 137.50 million were made available for allocation on a

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