 

Particulars Assumptions and Justifications

 

respectively. Other current liabilities have been maintained in line with the projected
business activity for the Fiscals 2022 and 2023.

 

Current tax liabilities Current tax liabilities (net) are computed from the Restated Financial Information. Our
Company has assumed the holding level for current tax liabilities (net) as 0 and 0 days of
revenue from operations for the Fiscals 2022 and 2023, respectively.

 

 

 

 

Note: As certified by the Independent Chartered Accountant by way of its certificate dated October 30, 2021.

3. General Corporate Purposes

Our Company proposes to deploy the balance Net Proceeds aggregating to % 236.40 million towards general
corporate purposes, subject to such amount not exceeding 25% of the Gross Proceeds, in compliance with the
SEBIICDR Regulations. The general corporate purposes for which our Company proposes to utilise Net Proceeds
include strategic initiatives and acquisitions and meeting exigencies, strengthening our marketing capabilities,
meeting expenses incurred by our Company in the ordinary course of business and any other purpose, as may be
decided by our Company in accordance with applicable law.

In addition to the above, our Company may utilise the Net Proceeds towards other expenditure considered
expedient and as approved periodically by our Board or a duly constituted committee thereof, subject to
compliance with necessary provisions of the Companies Act. The quantum of utilisation of funds towards each of
the above purposes will be determined by our Board, based on the amount actually available under this head and
the business requirements of our Company, from time to time. Our Company’s management shall have flexibility
in utilising surplus amounts, if any.

Appraisal of the Objects and Bridge Financing

The objects of the Fresh Issue have not been appraised by any bank, financial institution or agency and we have
not raised any bridge loans against the Net Proceeds.

Means of Finance

The entire requirements of the objects detailed above are intended to be funded from the Net Proceeds.
Accordingly, we confirm that there is no need for us to make firm arrangements of finance under Regulation
7(1)(e) of the SEBI ICDR Regulation, through verifiable means towards at least 75% of the stated means of
finance, excluding the amount to be raised through the Offer.

Offer related expenses
The total expenses of the Offer are estimated to be approximately = 518.56 million.

The Offer related expenses primarily include fees payable to the BRLMs and legal counsels, fees payable to the
Auditors, brokerage and selling commission, underwriting commission, commission payable to Registered
Brokers, RTAs, CDPs, SCSBs’ fees, Sponsor Bank’s fees, Registrar’s fees, 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 fees and stamp duty payable on issue of Equity Shares pursuant to Fresh Issue which shall
be borne solely by the Company; and (ii) the stamp duty payable on transfer of Offered Shares which shall be
borne solely by the respective Selling Shareholder, all Offer expenses will be shared, between our Company and
the Selling Shareholder on a pro-rata basis, in proportion to the Equity Shares issued and allotted by our Company
in the Fresh Issue and the Offered Shares sold by the Selling Shareholder in the Offer for Sale, respectively, as
may be mutually agreed and in accordance with applicable law. Any expenses paid by our Company on behalf of
the Selling Shareholder in the first instance will be reimbursed to our Company, by the Selling Shareholder to the
extent of its respective proportion of Offer related expenses.

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