OBJECTS OF THE ISSUE
The Issue comprises a Fresh Issue by our Bank and an Offer for Sale by the Selling Shareholders.
Offer for Sale
Each of the Selling Shareholders are entitled to its respective portion of the proceeds from the Offer for Sale in proportion
to the Equity Shares sold by such Selling Shareholder as part of the Offer for Sale. Our Bank will not receive any proceeds
from the Offer for Sale and the proceeds received from the Offer for Sale will not form part of the Net Proceeds.

Objects of the Issue

Our Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting our Bank’s Tier — 1 capital base
to meet our Bank’s future capital requirements.

Our Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.
Net Proceeds

The details of the proceeds from the Fresh Issue are summarized in the following table:

 

 

 

 

 

Particulars Estimated amount (@ in million)
Gross proceeds of the Fresh Issue” 2,479.35"
(Less) Issue expenses in relation to the Fresh Issue 129.81
Net Proceeds 2,349.54"

 

 

 

© ~ Our Bank has utilised the proceeds from the Pre-IPO Placement towards augmenting our Bank's Tier — 1 capital base.
* Subject to finalisation of Basis of Allotment.

Requirement of Funds and Utilization of Net Proceeds

The Net Proceeds are proposed to be utilised towards augmentation of our Bank’s Tier-I capital base to meet our Bank’s
future capital requirements such as organic growth and expansion and to comply with regulatory requirements for
enhanced capital base, as may be prescribed in the future.

Issue expenses

The total expenses of the Issue are estimated to be approximately = 303.09 million. The expenses of this Issue include,
among others, listing fees, underwriting fees, selling commission, fees payable to the Book Running Lead Managers, fees
payable to legal counsels, fees payable to the Registrar to the Issue, Escrow Collection Bank to the Issue and Sponsor
Bank, including processing fee to the SCSBs for processing ASBA Forms, brokerage and selling commission payable to
Registered Brokers, collecting RTAs and CDPs, printing and stationery expenses, advertising and marketing expenses
and all other incidental and miscellaneous expenses for listing the Equity Shares on the Stock Exchanges. Except for (i)
listing fee, (ii) audit fee, not incurred for the purposes of the Issue, (iii) expenses in relation to the Pre-IPO Placement,
and (iv) any costs incurred in issuing corporate advertisements (i.e., any corporate advertisements consistent with past
practices of our Bank and not including expenses relating to marketing and advertisements undertaken in connection with
the Issue) which shall be solely borne by our Bank, all Issue expenses will be shared, upon successful completion of the
Issue, between our Bank and the Selling Shareholders on a pro-rata basis, in proportion to the Equity Shares issued and
allotted by our Bank in the Fresh Issue and the Offered Shares sold by the Selling Shareholders in the Offer for Sale. Any
expenses paid by our Bank on behalf of Selling Shareholders in the first instance will be reimbursed to our Bank, directly
from the Public Issue Account. However, in the event that the Issue is withdrawn by our Bank or not completed for any
reason whatsoever, all the Issue expenses will be solely borne by our Bank. The break-up for the estimated Issue expenses
is as follows:

 

 

 

 

 

 

‘Activity [Estimated expenses*(<]___ As a % of the total As a % of the
in million) estimated Issue expenses‘ | total Issue size
BRLMs fees and commissions (including underwriting 130.69 43.12% 2.25%
commission, brokerage and selling commission)
Commission/processing fee for SCSBs and Bankers to 10.55 3.48% 0.18%
the Issue and fee payable to the Sponsor Bank for Bids
made by RIBs using UPI“)
Brokerage and selling commission and bidding charges 10.38 3.43% 0.18%
for Members of the Syndicate, Registered Brokers, RTAs
and CDPs®°)
Fees payable to the Registrar to the Issue 0.57 0.19% 0.01%

 

 

 

 

 

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