Book Building Process

Book building, in the context of the Offer, refers to the process of collection of Bids from Bidders on the basis
of the Red Herring Prospectus and the Bid cum Application Forms and the Revision Forms within the Price
Band. The Price Band and the minimum Bid Lot size was decided by our Company and the Promoter Selling
Shareholders, in consultation with the BRLMs, and was advertised in all editions of The Financial Express, the
English national daily newspaper, all editions of Jansatta, the Hindi national daily newspaper and the Mumbai
edition of Navshakti, the Marathi daily newspaper (Marathi being the regional language of Maharashtra, where
our Registered Office is located), each with wide circulation, and advertised at least two Working Days prior to
the Bid/Offer Opening Date and was made available to the Stock Exchanges to upload on their respective
websites. The Offer Price was determined by our Company and the Promoter Selling Shareholder, in
consultation with the BRLMs, after the Bid/Offer Closing Date.

All Bidders, except Anchor Investors, were mandatorily required to use the ASBA process for
participating in the Offer by providing details of their respective ASBA Account in which the
corresponding Bid Amount was blocked by SCSBs. In addition to this, the Retail Individual Bidders
could participate through the ASBA process by either (a) providing the details of their respective ASBA
Account in which the corresponding Bid Amount was blocked by the SCSBs; or (b) through the UPI
Mechanism. Anchor Investors were not permitted to participate in the Anchor Investor Portion through
the ASBA process.

In accordance with the SEBI ICDR Regulations, QIBs Bidding in the QIB Portion and Non-Institutional
Bidders bidding in the Non-Institutional Portion were not allowed to withdraw or lower the size of their
Bids (in terms of the quantity of the Equity Shares or the Bid Amount) at any stage. Retail Individual
Bidders could have revised their Bids during the Bid/Offer Period and withdraw their Bids on or before
the Bid/Offer Closing Date. Further, Anchor Investors could not withdraw their Bids after the Anchor
Investor Bid/Offer Period. Except for Allocation to Retail Individual Bidders and the Anchor Investors,
Allocation in the Offer was on a proportionate basis. Allocation to the Anchor Investors was on a
discretionary basis.

See “Offer Structure”, “Offer Procedure” and “Terms of the Offer” on pages 408, 411 and 402, respectively.

Each Bidder by submitting a Bid in the Offer, was deemed to have acknowledged the above restrictions and
terms of the Offer.

The Book Building Process is in accordance with guidelines, rules, regulations prescribed by SEBI, which
are subject to change from time to time. Bidders were advised to make their own judgment about an
investment through this process prior to submitting a Bid in the Offer.

Illustration of Book Building and Price Discovery Process

For an illustration of the Book Building Process and the price discovery process, see “Offer Procedure” on page
411.

Underwriting Agreement

Our Company and the Selling Shareholders have entered into an Underwriting Agreement with the
Underwriters for the Equity Shares proposed to be offered through the Offer. The Underwriting Agreement is
dated January 22, 2022. The extent of underwriting obligations and the Bids to be underwritten in the Offer
shall be as per the Underwriting Agreement. Pursuant to the terms of the Underwriting Agreement, the
obligations of the Underwriters will be several and will be subject to conditions specified therein.

The Underwriters have indicated their intention to underwrite such number of Equity Shares as disclosed below:

 

 

 

Name, Address, Telephone Number and E-mail Indicative Number of Equity Amount Underwritten
Address of the Underwriters Shares to be Underwritten (%in million)
ICICI Securities Limited 12,952,381 2,266.67

ICICI Venture House,
‘Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025
Maharashtra, India

 

 

 

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