SECTION VIII: DESCRIPTION OF EQUITY SHARES AND TERMS OF ARTICLES OF ASSOCIATION

Capitalized terms used in this section have the meanings that have been given to such terms in the Articles of Association of
our Company. Pursuant to Schedule I of the Companies Act and the SEBI ICDR Regulations, the main provisions of the Articles
of Association of our Company are detailed below.

The Articles of Association of our Company comprise two parts, Part A and Part B, which parts shall, unless the context
otherwise requires, co-exist with each other until the commencement of the listing of Equity Shares pursuant to the Offer. In
case of inconsistency or contradiction, conflict or overlap between Part A and Part B, the provisions of Part B shall, subject to
applicable law, prevail and be applicable. All Articles of Part B shall automatically terminate, without any further corporate
or other action by the Company or by its shareholders, and cease to have any force and effect from the date of listing of Equity
Shares of the Company on a recognized stock exchange in India pursuant to the Offer and the provisions of Part A shall continue
to be in effect and be in force, without any further corporate or other action, by the Company or by its shareholders.

PARTA
Authorised Share Capital

The authorised share capital of the Company shall be such amount, divided into such class(es), denomination(s) and number of
shares in the Company as stated in Clause V of the Memorandum of Association, with power to increase or reduce such capital
from time to time and power to divide the shares in the capital for the time being into other classes and to attach thereto
respectively such preferential, convertible, deferred, qualified, or other special rights, privileges, conditions or restrictions and
to vary, modify or abrogate the same in such manner as may be determined by or in accordance with the Articles of the
Company, subject to the provisions of applicable law for the time being in force.

Alteration of Capital
Subject to the provisions of the Act, the Company in its General Meetings may, by an Ordinary Resolution, from time to time:
a. increase the share capital by such sum, to be divided into shares of such amount as it thinks expedient;

b. divide, sub-divide or consolidate its shares, or any of them, and the resolution whereby any share is sub-divided, may
determine that as between the holders of the shares resulting from such sub-division one or more of such shares have
some preference or special advantage in relation to dividend, capital or otherwise as compared with the others;

c. cancel shares which at the date of such General Meeting have not been taken or agreed to be taken by any person and
diminish the amount of its share capital by the amount of the shares so cancelled;

d. consolidate and divide all or any of its share capital into shares of larger amount than its existing shares; provided that
any consolidation and division which results in changes in the voting percentage of Members shall require applicable
approvals under the Act; and

e. convert all or any of its fully paid-up shares into stock, and reconvert that stock into fully paid-up shares of any
denomination.

Allotment of Shares

Subject to the provisions of the Act and these Articles, the shares in the capital of the Company shall be under the control of
the Board of Directors who may issue, allot or otherwise dispose of all or any of such shares to such persons, in such proportion
and on such terms and conditions and either at a premium or at par and at such time as they may from time to time think fit and
with the sanction of the Company in General Meeting give to any person the option or right to call for any shares either at par
or at a premium during such time and for such consideration as the Board of Directors think fit.

Further Issue of Shares

() Where at any time the Board or the Company, as the case may be, propose to increase the subscribed capital by the
issue of further shares then such shares shall be offered, subject to the provisions of section 62 of the Act, and the rules
made thereunder:

@ to the persons who at the date of the offer are holders of the Equity Shares of the Company, in proportion
as nearly as circumstances admit, to the paid-up share capital on those shares by sending a letter of offer
subject to the conditions mentioned in (ii) to (iv) below;

(ii) The offer aforesaid shall be made by notice specifying the number of shares offered and limiting a time

not being less than fifteen days or such lesser number of days as may be prescribed and not exceeding thirty
days from the date of the offer, within which the offer if not accepted, shall be deemed to have been declined.

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