In terms of the Banking Regulation Act read with Reserve Bank of India (Prior approval for acquisition of shares or voting rights
in private sector banks) Directions, 2015, no person either by himself or with his relative, associate enterprise, or acting in concert
with any other person can acquire, directly or indirectly, or hold 5% or more of the total paid-up share capital of our Bank, or be
entitled to exercise 5% or more of the total voting rights of our Bank, without prior approval of the RBI. Accordingly, it is the
responsibility of each Bidder to seek RBI approval, if the Bids submitted by such Bidder for such number of Equity Shares as
may result in the shareholding of a Bidder (along with his relatives, associate enterprises or persons acting in concert with such
Bidder (“Other Persons”) aggregate to 5% or more of the post-Issue paid-up share capital of our Bank. It may be noted that in
the event an approval from RBI is not obtained by any Bidder, it shall not be allotted more than 5% of the post-Issue paid-up
share capital of our Bank.

Our Bank, the Selling Shareholders, the Book Running Lead Managers and the Registrar to the Issue will rely strictly and solely
on the RBI approvals received from Bidders for making any Allotment of Equity Shares to such Bidders and to the Other Persons,
if any, that results in such Bidder, either individually or on an aggregate basis with the Other Persons associated with such Bidder,
holding Equity Shares equal to or in excess of 5% of the post-Issue paid-up share capital of our Bank thereafter, after considering
their existing aggregate shareholding in our Bank, if any. Our Bank, the Selling Shareholders, the Registrar to the Issue and Book
Running Lead Managers will not be responsible for identifying the Other Persons associated with any Bidder, or for the
consequences of any Bidder and the Other Persons holding Equity Shares, which together with their existing shareholding
amount to 5% or more of the post-Issue paid-up share capital of our Bank pursuant to the Allotment made without a valid and
subsisting RBI approval.

An ‘associate enterprise’ has the same meaning assigned to it in Explanation I(a) to Section 12B of Banking Regulation Act,
1949. A ‘person acting in concert’ has the same meaning as stated in Explanation1(c) to Section 12B of Banking Regulation Act,
1949. A ‘relative’ has the same meaning as defined in Section 2(77) of the Companies Act, 2013 and rules made thereunder.

Accordingly, in case of Bids for such number of Equity Shares, as may result in the shareholding of a Bidder (along with
his relatives, associate enterprises or persons acting in concert with such person) exceeding 5% or more of the total paid-
up share capital of our Bank or entitles him to exercise 5% or more of the voting rights in our Bank, such Bidder is
required to submit the approval obtained from the RBI with the Registrar to the Issue, at least one Working Day prior
to the finalisation of the Basis of Allotment. In case of failure by such Bidder to submit the approval obtained from the
RBI within the above time period, our Bank may Allot maximum number of Equity Shares, as adjusted for the Bid Lot
(and in case of over-subscription in the Issue, after making applicable proportionate allocation for the Equity Shares Bid
for), that will limit the aggregate shareholding of the Bidder (along with his relatives, associate enterprises or persons
acting in concert with such person and including existing shareholding, if any) to less than 5% of the post-Issue paid-up
Equity Share capital of our Bank.

A clearly legible copy of the RBI approval in the name(s) of the Bidders together with the application submitted for
obtaining such RBI approval must be submitted by the Bidders with the Bid cum Application Form as well as to the
Registrar to the Issue at any time prior to the date falling one day before the date for finalisation of the Basis of Allotment.
Such RBI approval should clearly mention the name(s) of the entities which propose to Bid in the Issue, the aggregate
shareholding of the Bidder and the Other Persons in the pre-Issue paid-up share capital of our Bank and the maximum
permitted holding of Equity Shares by the Other Persons. All allotments to such Bidders and the Other Persons, shall be
in accordance with and subject to the conditions contained in such RBI approval.

 

Participation by Promoters and members of the Promoter Group of our Bank, the Book Running Lead Managers and
the Syndicate Members

The Book Running Lead Managers and the Syndicate Members were not allowed to purchase Equity Shares in this Issue in any
manner, except towards fulfilling their underwriting obligations. However, the associates and affiliates of the Book Running
Lead Managers and the Syndicate Members could Bid for Equity Shares in the Issue, either in the QIB Portion or in the Non-
Institutional Portion as was applicable to such Bidders, where the allocation is on a proportionate basis and such subscription
could be on their own account or on behalf of their clients. All categories of investors, including associates or affiliates of the
Book Running Lead Managers and Syndicate Members, were required to be treated equally for the purpose of allocation to be
made on a proportionate basis.

Except as stated below, neither the Book Running Lead Managers nor any associates of the Book Running Lead Managers could
apply in the Issue under the Anchor Investor Portion:

ji mutual funds sponsored by entities which are associate of the Book Running Lead Managers;
(ii) insurance companies promoted by entities which are associate of the Book Running Lead Managers;
(iii) AIFs sponsored by the entities which are associate of the Book Running Lead Managers; or

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