Business Interest

Except as disclosed in “Our Business” on page 147, as on the date of this Prospectus, the Subsidiaries do not have any business
interest in our Company.

Related Business Transactions

Other than the transactions disclosed in the section “Financial Statements” on page 267, there are no other related business
transactions with our Subsidiaries.

Joint Venture

Our Company has no joint ventures.

Associate

Our Company has no associate company.

Details of guarantees given to third parties by the Promoter Selling Shareholder

The Promoter Selling Shareholder has not provided any guarantees to third parties, except as disclosed in sections “Capital
Structure” on page 84, and “Our Promoter and Promoter Group” on page 206.

Shareholders’ agreements and other agreements

Shareholders Agreement dated December 24, 2020 (“SHA”) amongst our Company, our Promoters, PIOF, S.S. Pharma
LLC (“SS Pharma”), Shore Pharma LLC (“Shore Pharma”), Natco Pharma Limited (“Natco”), Time Cap Pharma Labs
Private Limited (“Time Cap”), Lavender Rose, Gangadi Investments Private Limited (“GIPL”) and certain individual
shareholders of our Company as amended by the waiver cum amendment agreement dated August 5, 2021 (“WCA”) read
with the Settlement Letter dated November 27, 2021 (“Supplemental Letter")

Our Company, our Promoters, PIOF, SS Pharma, Shore Pharma, Natco, Time Cap, Lavender Rose, GIPL and certain individual
shareholders of our Company (collectively the “Parties”) have entered into the SHA to govern certain inter-se rights and
obligations in the Company on December 24, 2020, in furtherance to a share subscription agreement dated December 24, 2020
(“Lavender Rose SSA”) by way of which certain investments were made in the Company by Lavender Rose. The SHA was
executed simultaneously with the Lavender Rose SSA to consolidate the terms of the prior shareholders’ agreements, and sets
out the inter-se rights and obligations of PIOF, Lavender Rose, GIPL, our Promoters and the other shareholders of our Company
in relation to our Company and our Subsidiaries. The SHA also sets out the detailed terms of the preference shares, including
the term, rate of dividend, voting rights, and the manner and timing of conversion.

Pursuant to the terms of the SHA, PIOF and Lavender Rose have several rights in relation to our Company and each of our
Subsidiaries, including: (i) the right to appoint one director each on our Board and the board of directors of each Subsidiary;
(ii) the right to appoint one observer each on our Board and the board of directors of each Subsidiary; (iii) quorum rights in
relation to any Board or Shareholders’ meeting; (iv) the right to an exit pursuant to a qualified initial public offering, a strategic
sale or a third party sale; (v) anti-dilution rights, right of first offer and tag along rights in relation to a proposed issuance or
transfer of Equity Shares; and (vi) information and inspection rights in relation to our Company and our Subsidiaries.

Under the terms of the SHA, our Company also requires the prior written consent of PIOF and Lavender Rose in relation to,
inter alia: (i) changing the composition, powers and functions of any committee; and (ii) any decision involving a reserved
matter as set out under the SHA, including for matters such as amendments to charter documents, alteration of share capital,
changes in management, etc.

The SHA also provides SS Pharma, Shore Pharma, Natco and Time Cap with the right to appoint an observer on our Board so
long as they collectively hold at least 2.75% of the share capital of our Company on a fully diluted basis, and information and
inspection rights in relation to our Company and our Subsidiaries.

Further, the SHA provides certain rights to our promoters, including: (i) the right to appoint two directors for so long as our
Promoters collectively hold at least 26% of the share capital of our Company on a fully diluted basis; (ii) right of our Individual
Promoter to approve all Board or Shareholder matters in the event of the termination of his employment without cause, subject
to our Promoters collectively holding at least 10% of the share capital of our Company on a fully diluted basis; (iii) the right to
receive an upside amount in case of a sale of Equity Shares by PIOF in an initial public offering; and (iv) right of first offer in
relation to proposed sale of Equity Shares by PIOF or Lavender Rose. Subsequently, pursuant to the Settlement Letter, PIOF
agreed that the Promoters are eligible for the upside amount of 2 750 million plus taxes as applicable (“Upside Amount”), as
per the terms of the SHA, on listing of the Equity Shares of our Company on a stock exchange. The Promoters, collectively,

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