BASIS FOR OFFER PRICE

The Offer Price has been determined by our Company and the Selling Shareholders, in consultation with the
BRLMs on the basis of assessment of market demand for the Equity Shares offered in the Offer through the Book
Building Process and on the basis of the qualitative and quantitative factors as described below. The face value of
the Equity Shares is 310 each and the Offer Price is 69 times the face value of the Equity Shares. Investors should
also refer to the sections ‘Risk Factors’, ‘Our Business’, ‘Financial Information’ and ‘Management's Discussion
and Analysis of Financial Condition and Results of Operations’ on pages 22, 159, 218 and 304 respectively, to
have an informed view before making an investment decision.

Qualitative Factors
Some of the qualitative factors and our strengths which form the basis for computing the Offer Price are:

women’s bottom-wear brand with well-diversified product portfolio;

multi-channel pan-India distribution network with a focus on EBOs, enhancing brand visibility;
strong unit economics with an efficient operating model;

extensive procurement base with highly efficient and technology-driven supply chain management;
in-house expertise in developing and designing products; and

demonstrated track record of strong financial performance.

For further details, please see ‘Our Business — Strengths’ on page 171.
Quantitative factors

Some of the information presented in this section relating to our Company is derived from the Restated Financial
Information. For details, see ‘Financial Information’ beginning on page 218.

Some of the quantitative factors, which may form the basis for computing the Offer Price, are as follows:

1. Basic and Diluted Earnings Per Equity Share (“EPS”) ®, as per Restated Financial Information

 

 

Financial Period Basic EPS (in 2) Diluted EPS (in2)___Weightage
Financial Year ended March 31, 2021 -0.68 -0.68 3
Financial Year ended March 31, 2020 10.08 10.08 2
Financial Year ended March 31, 2019 5.93 5.93 1
Weighted Average 4.01 4.01
‘Three months ended June 30, 2021 -3.64 -3.64

w

Basic EPS (2) = Basic earnings per share are calculated by dividing the net restated profit or loss for the period attributable to equity
shareholders by the weighted average number of Equity Shares outstanding during the year/period.

® Diluted EPS (2) = Diluted earnings per share are calculated by dividing the net restated profit or loss for the period attributable to
equity shareholders by the weighted average number of Equity Shares outstanding during the year/period as adjusted for the effects of
all dilutive potential Equity Shares outstanding during the year/period.

Notes

1. Basic EPS and Diluted EPS calculations are in accordance with Indian Accounting Standard 33 ‘Earnings per Share’.

2. Weighted average number of Equity Shares is the number of Equity Shares outstanding at the beginning of the period adjusted by the
number of Equity Shares issued during the period multiplied by the time weighting factor. The time weighting factor is the number of

days for which the specific shares are outstanding as a proportion of total number of days during the period.

3. Weighted average = Aggregate of year-wise weighted EPS divided by the aggregate of weights i.e. [(EPS x Weight) for each year] /
[Total of weights]

4. The above statement should be read with significant accounting policies and notes on Restated Financial Information as appearing in the
section titled ‘Financial Information’ on page 218.

2. Price to Earning (“P/E”) Ratio in relation to the Price Band of % 655 to = 690 per Equity Share

 

P/E ratio at the lower end of P/E ratio at the higher end of

Particulars the Price Band the Price Band
(number of times) (number of times)
Based on Basic EPS for the financial year ended Not applicable” Not applicable”

March 31, 2021

 

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