Further, our Company, the Selling Shareholders and the members of the Syndicate do not accept any
responsibility for any adverse occurrences consequent to the implementation of the UPI Mechanism for
application in the Offer.

Book Building Procedure

The Offer has been made through the Book Building Process in accordance with Regulation 6(2) of the SEBI
ICDR Regulations wherein not less than 75% of the Offer was made available for allocation on a proportionate
basis to QIBs, provided that our Company and the Selling Shareholders, in consultation with the BRLMs, allocated
up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation was on a discretionary basis by
the Company in consultation with the BRLMs 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 (excluding the Anchor
Investor Portion) was made available for allocation on a proportionate basis only to Mutual Funds, and the
remainder of the 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 Offer Price.
Further, not more than 15% of the Offer was made available for allocation on a proportionate basis to Non-
Institutional Investors and not more than 10% of the Offer was made available for allocation to Retail Individual
Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above
the Offer Price.

In accordance with Rule 19(2)(b) of the SCRR, the Offer will constitute at least 27.20% of the post Offer paid-up
Equity Share capital of our Company.

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

Investors should note that the Equity Shares will be Allotted to all successful Bidders only in dematerialised form.
The Bid cum Application Forms which did not have the details of the Bidders’ depository account, including DP
ID, Client ID, PAN and UPI ID, as applicable, were treated as incomplete and were liable to be rejected. Bidders
will not have the option of being Allotted Equity Shares in physical form. However, they may get the 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 RIIs through Designated Intermediaries with the objective to reduce the time duration from public
issue closure to listing from six Working Days 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 I was extended till
June 30, 2019. Under this phase, an RII 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. 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. Under this phase, submission of the ASBA Form by RIBs 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.

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 is proposed to be reduced to three Working Days. Accordingly, upon commencement
of Phase III, the reduced time duration shall be applicable for the Offer.

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