OBJECTS OF THE OFFER

The deployment of funds has not been appraised by any bank or financial institution. While our Company
proposes to roll-out 120 new EBOs pan India, it has not identified locations for setting up such new EBOs.
The locations of such EBOs will be decided by our Company, post the Offer, based on its business plan,
management estimates and market conditions.

The Offer comprises of the Fresh Issue and the Offer for Sale.
Offer for Sale

Each of the Selling Shareholders will be entitled to its respective portion of the proceeds of the Offer for Sale after
deducting its proportion of Offer expenses and relevant taxes thereon. Our Company 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 Fresh Issue

Our Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:

1. Funding roll out of 120 new EBOs;
2. Funding working capital requirements; and
3. General corporate purposes.

In addition, our Company expects to receive the benefits of listing of the Equity Shares on the Stock Exchanges
and enhancement of our Company’s brand name amongst our existing and potential customers and creation of a
public market for our Equity Shares in India.

The main objects clause and objects incidental and ancillary to the main objects clause as set out in the
Memorandum of Association enables our Company to undertake its existing activities and the activities for which
funds are proposed to be raised by our Company through the Fresh Issue.

Net Proceeds

The following table sets forth details of the Net Proceeds:

 

Particulars Estimated Amount (in 2 million)”
Gross proceeds from the Fresh Issue 1,250.00
Less Offer related expenses to be borne by our Company © 62.28
Net proceeds from the Fresh Issue after deducting the Offer related 1,187.72

expenses to be borne by our Company (“Net Proceeds”)
“Subject to finalisation of Basis of Allotment.
(1) See ‘Offer related expenses’ below.

 

Proposed schedule of implementation and utilization of Net Proceeds

We propose to deploy the Net Proceeds for the aforesaid purposes in accordance with the estimated schedule of
implementation and deployment of funds set forth in the table below:

(in million)

Total estimated Amount to be deployed Amount to be deployed

   

S.No. Particulars amount/ expenditure {0m the Net Proceeds from the Net Proceeds in
in Fiscal 2023 Fiscal 2024
1. Funding roll out of 120 new EBOs 337.34 168.67 168.67
2. Funding working capital requirements 613.98 5 -
2. General corporate purposes” 236.40 -
Total Net Proceeds 1,187.72 1,019.05 168.67

 

“The amount utilised for general corporate purposes does not exceed 25% of the gross proceeds of the Fresh Issue.

The above-stated fund requirements and the deployment of funds for funding roll out of new EBOs, funding the
working capital requirements and general corporate purposes from the Net Proceeds are based on our current
business plan, management estimates, current market conditions, certificate from independent chartered architect
and chartered accountants (as applicable), and have not been appraised by any bank or financial institution or

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