in accordance with the SEBI ICDR Regulations. One-third of the Anchor Investor Portion was reserved for
domestic Mutual Funds, subject to valid Bids being 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 spill-over from 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 being received at or above the Offer Price. Further, not less than 15% of the Offer
was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of
the Offer was made available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR
Regulations, subject to valid Bids being received at or above the Offer Price.

Under-subscription, if any, in any category, except in the QIB Portion, was allowed to be met with spill over
from any other category or combination of categories of Bidders at the discretion of our Company and the
Promoter Selling Shareholder, in consultation with the BRLMs and the Designated Stock Exchange subject to
receipt of valid Bids received at or above the Offer Price. Under-subscription, if any, in the QIB Portion, was.
not allowed to be met with spill-over from any other category or a combination of categories.

The Equity Shares, on Allotment, shall be traded only in the dematerialized segment of the Stock Exchanges.

Investors should note that the Equity Shares will be Allotted to all successful Bidders only in
dematerialized form. The Bid cum Application Forms which do not have the details of the Bidders’
depository account, including DP ID, Client ID, the PAN and UPI ID, for Retail Individual Bidders
Bidding in the Retail Portion using the UPI Mechanism, shall be treated as incomplete and will be
rejected. Bidders will not have the option of being Allotted Equity Shares in physical form. However, they
may get their Equity Shares rematerialized subsequent to Allotment of the Equity Shares in the Offer,
subject to applicable laws.

Phased implementation of Unified Payments Interface

SEBI has issued the UPI Circulars in relation to streamlining the process of public issue of inter alia, equity
shares. Pursuant to the UPI Circulars, the UPI Mechanism has been introduced in a phased manner as a payment
mechanism (in addition to mechanism of blocking funds in the account maintained with SCSBs under ASBA)
for applications by Retail Individual Bidders through Designated Intermediaries with the objective to reduce the
time duration from public issue closure to listing from six Working Days to up to three Working Days.
Considering the time required for making necessary changes to the systems and to ensure complete and smooth
transition to the UPI payment mechanism, the UPI Circulars have introduced the UPI Mechanism in three
phases in the following manner:

Phase I: This phase was applicable from January 1, 2019 until March 31, 2019 or floating of five main board
public issues, whichever was later. Subsequently, the timeline for implementation of Phase | was extended till
June 30, 2019. Under this phase, an RIB had the option to submit the ASBA Form with any of the Designated
Intermediary and use his/ her UPI ID for the purpose of blocking of funds. The time duration from public issue
closure to listing continued to be six Working Days.

Phase II: This phase has become applicable from July 1, 2019 and was to initially continue for a period of three
months or floating of five main board public issues, whichever is later. SEBI vide its circular no.
SEBI/HO/CFD/DCR2/CIR/P/2019/133 dated November 8, 2019 has decided to extend the timeline for
implementation of UPI Phase II until March 31, 2020. Under this phase, submission of the ASBA Form by
Retail Individual Bidders through Designated Intermediaries (other than SCSBs) to SCSBs for blocking of
funds has been discontinued and replaced by the UPI Mechanism. However, the time duration from public issue
closure to listing continues to be six Working Days during this phase. Subsequently, SEBI vide its circular no.
SEBI/HO/CFD/DIL2/CIR/P/2020/50 dated March 30, 2020 extended the timeline for implementation of UPI
Phase II till further notice.

Phase III: The commencement period of Phase III is yet to be notified. In this phase, the time duration from
public issue closure to listing would be reduced to three Working Days.

The Offer was made under UPI Phase II of the UPI Circulars.

All SCSBs offering the facility of making applications in public issues shall also provide the facility to make
application using UPI. The Company was required to appoint one of the SCSBs as a Sponsor Bank to act as a

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