All the Equity Shares held by our Promoters were fully paid-up on the respective dates of allotment of such Equity
Shares.

Details of Equity Shares pledged by our Promoters and Promoter Group

Except for 11,290,000 Equity Shares held by one of our Promoters, Baskar Babu Ramachandran (“Promoter Shares”),
of which (i) 8,150,000 Equity Shares are pledged in favour of one of our Shareholders Avendus Finance Private Limited,
a Systemically Important NBFC (“Avendus”) and one of our Shareholders and Systemically Important NBFC, Kiran
Vyapar Limited (“KVL”) and (ii) 3,140,000 Equity Shares are pledged in favour of Placid Limited, a Systemically
Important NBFC (“Placid”), respectively, in relation to borrowing arrangements entered into by Baskar Babu
Ramachandran in his personal capacity, none of the other Equity Shares held by our Promoters and Promoter Group are
pledged as on the date of this Prospectus. Avendus and KVL by way of the joint consent letter dated March 4, 2021 and
Placid by way of its consent letter dated March 4, 2021 (collectively, the “Consent Letters”), have consented for a
temporary release on the pledge on Promoter Shares on the Issue Closing Date subject to certain conditions stated in
the Consent Letters. In terms of the Consent Letters, the Promoter Shares are required to be repledged with the respective
lenders immediately and not later than the date of listing and trading of the Equity Shares Allotted in the Issue.

Details of Promoters’ contribution and lock-in

a) Pursuant to the SEBI ICDR Regulations, an aggregate of 20% of the post-Issue expanded Equity Share capital
of our Bank held by our Promoters (assuming full conversion of vested options, if any, under ESOP 2016 and
ESOP 2019) shall be locked in for a period of three years as minimum promoters’ contribution from the date
of Allotment, and the Promoters’ shareholding in excess of 20% of the post-Issue expanded Equity Share
capital of our Bank, if any, shall be locked in for a period of one year from the date of Allotment.

b) The total number of Equity Shares held by our Promoters which is eligible for minimum promoters’
contribution is 18,259,732 Equity Shares. Further, 3,325,000 Equity Shares allotted on March 2, 2021
constituting of 3,140,000 Equity Shares allotted to Baskar Babu Ramachandran, 100,000 allotted to P.S.
Jagdish and 85,000 Equity Shares allotted to G.V. Alankara, certain Promoters of our Bank, on a preferential
basis, have not been considered for minimum promoters’ contribution. Since the post-Issue shareholding of
the Promoters eligible for minimum promoters’ contribution is less than 20% of post-Issue Equity Share capital
of our Bank (assuming full conversion of vested options, if any, under ESOP 2016 and ESOP 2019), in
accordance with Regulation 14 of the SEBI ICDR Regulations, one of the Shareholders of our Bank, HDFC
Life Insurance Company Limited (“HDFC Life”), has provided its consent, through its letter, dated September
29, 2020 to meet the shortfall in minimum promoters’ contribution subject to (a) 3,104,328 Equity Shares, to
the extent required or (b) such other number of Equity Shares, to the extent required and as may be approved
by HDFC Life in writing which does not exceed 10% of the post-Issue Equity Share capital of our Bank
(assuming aforementioned full dilution) and subject to:

jo Promoters offering for the minimum promoters’ contribution of at least 10% of the post-Issue paid
up Equity Share capital of our Bank which shall be subject to the lock-in in accordance with the SEBI
ICDR Regulations during the period commencing on the date of Allotment of the Issue and ending
on the date the lock-in over the Equity Shares contributed by HDFC Life ends;

(ii) the Promoters offering all of their issued and paid up Equity Shares held and as may be subsequently
acquired by them in our Bank which are eligible for minimum promoters’ contribution under
Regulation 15(1) of the SEBI ICDR Regulations, in respect of minimum promoters’ contribution; and

(iii) the Issue taking place on or before May 31, 2021.

Details of the Equity Shares to be locked-in for three years from the date of Allotment as minimum Promoter’s
contribution are set forth in the table below.

 

 

 

 

 

 

Date of allotment/ Nature of Number of Face Issue/ Percentage | Percentage
acquisition of the Equity | transaction _| Equity Shares| Value | acquisition | of the pre- | of the post-
Shares* | price per | Issue paid- | Issue paid-
Equity | up Equity | up Equity
Share (2) Share Share
capital (%) | capital (%)
Promoters
G.V. Alankara
December 26, 2008 Private placement 200,000 10 10.00, 0.20 0.20
July 19, 2010 Private placement 100,000. 10 10.00 0.10 0.09

 

 

 

 

 

 

 

 

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