 

 

 

 

Date of Number of Face Offer price Name of the Nature of Reason of
allotment Equity value | per Equity allottee(s) consideration allotment
of Equity Shares ®@ Share
Shares allotted @
October 29, 14,997,690 10 0) 14,997,690 Equity xO) ‘Allotment
2021 Shares were allotted to pursuant to
Sequoia Capital India conversion of
Investments IV Series A CCCPS
7,199,580 10 2 @ 6,622,902 Equity 2 ‘Allotment
Shares were allotted to pursuant to
India Advantage Fund conversion of
S4 I and (ii) 576,678 Series B CCCPS
Equity Shares were
allotted to Dynamic
India Fund $4 USI

 

 

 

 

 

 

 

© Consideration for such Equity Shares was paid at the time of allotment of Series ACCCPS, with agreed terms of conversion.
©) Consideration for such Equity Shares was paid at the time of allotment/acquisition of Series B CCCPS, with agreed terms
of conversion.

The prices at which Equity Shares were issued by us in the past year should not be taken to be indicative of the
Price Band, Offer Price and the trading price of our Equity Shares after listing.

49. Our customers may engage in certain transactions in or with countries or persons that are subject to U.S.
and other sanctions.

U.S. law generally prohibits U.S. persons from directly or indirectly investing or otherwise doing business in or
with certain countries that are the subject of comprehensive sanctions and with certain persons or businesses that
have been specially designated by the OFAC or other U.S. government agencies. Other governments and
international or regional organizations also administer similar economic sanctions. We provide services to our
customers, who may be doing business with, or located in, countries to which certain OFAC-administered and
other sanctions apply. Although we believe we have compliance systems in place that are sufficient to block
prohibited transactions, there can be no assurance that we will be able to fully monitor all of our transactions for
any potential violation. Although we do not believe that we are in violation of any applicable sanctions, if it were
determined that transactions in which we participate violate U.S. or other sanctions, we could be subject to U.S.
or other penalties, and our reputation and future business prospects in the United States or with U.S. persons, or
in other jurisdictions, could be adversely affected. We rely on our staff to be up-to-date and aware of the latest
sanctions in place. Further, investors in the Equity Shares could incur reputational or other risks as the result of
our customers’ dealings in or with countries or with persons that are the subject of U.S. sanctions.

External Risk Factors
Risks Relating to India

50. Political, economic, regulatory or other factors that are beyond our control may have an adverse effect on
our business and results of operations.

The Indian economy and its securities markets are influenced by economic developments and volatility in
securities markets in other countries. Investors’ reactions to developments in one country may have adverse effects
on the market price of securities of companies located elsewhere, including India. Adverse economic
developments, such as rising fiscal or trade deficit, in other emerging market countries may also affect investor
confidence and cause increased volatility in Indian securities markets and indirectly affect the Indian economy in
general. Any of these factors could depress economic activity and restrict our access to capital, which could have
an adverse effect on our business, financial condition and results of operations and reduce the price of our Equity
Shares. Any financial disruption could have an adverse effect on our business, future financial performance,
shareholders’ equity and the price of our Equity Shares.

We are dependent on domestic, regional and global economic and market conditions. Our performance, growth
and market price of our Equity Shares are and will be dependent to a large extent on the health of the economy in
which we operate. There have been periods of slowdown in the economic growth of India. Demand for our
products may be adversely affected by an economic downturn in domestic, regional and global economies.
Economic growth in the countries in which we operate is affected by various factors including domestic
consumption and savings, balance of trade movements, namely export demand and movements in key imports,

49

 
