OBJECTS OF THE OFFER

All references to the Selling Shareholders includes (a) the Investor Selling Shareholder, namely, PI Opportunities Fund — I;
and (b) the Other Selling Shareholders, namely, S. S. Pharma LLC, Natco Pharma Limited, Time Cap Pharma Labs Private
Limited, Shore Pharma LLC, A. Raghava Reddy, K Prakurthi, Navdeep Patyal, Sangeeta Raju, R. Venkat Reddy, TK Kurien,
Nithya Venkataramani, Atul Gupta, Manoj Jaiswal, Rahul Garg, Kollengode Ramanathan Lakshminarayana and Bijou Kurien
(collectively, the “Selling Shareholders”).

The Offer comprises of the Fresh Issue and the Offer for Sale, aggregating up to 713,982.95 million.
The Offer for Sale

The proceeds of the Offer for Sale shall be received by the Selling Shareholders. Our Company will not receive any proceeds
from the Offer for Sale. Each Selling Shareholder shall be entitled to receive its respective portion of the proceeds from the
Offer for Sale, net of its respective portion of Offer related expenses and the relevant taxes thereon. For further details of the
Offer for Sale, see “The Offer” on page 57.

The Fresh Issue

Our Company proposes to utilise the Net Proceeds towards funding of the following objects:

ds Investment into our Material Subsidiary, Optival for funding working capital requirements of Optival; and
2. General corporate purposes.

The main objects and objects incidental and ancillary to the main objects set out in the Memorandum of Association enable us
to undertake our existing business activities and the memorandum of association of our Material Subsidiary, Optival enable it
to undertake the activities proposed to be funded from the Net Proceeds. Further, our Company expects to receive the benefits
of listing of the Equity Shares, including to enhance our visibility and our brand image among our existing and potential
customers and creation of a public market for our Equity Shares in India.

Net Proceeds

The details of the proceeds from the Fresh Issue are summarised in the following table:

 

 

 

 

 

 

 

Particulars Estimated amount @ in million)
Gross Proceeds of the Fresh Issue 6,000.00
(Less) Offer related expenses in relation to the Fresh Issue 272.59
Net Proceeds 5,727.41

 

Requirement of funds and proposed utilisation of Net Proceeds

The Net Proceeds are proposed to be utilised in accordance with the details provided in the following table:

 

 

 

 

 

 

Particulars Amount @ in million)
Investment into our Material Subsidiary, Optival for funding working capital requirements 4,671.70
of Optival
General corporate purposes 1,055.71
Total 5,727.41

 

 

Proposed Schedule of Implementation and Deployment 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)
Particulars ‘Amount to be Estimated deployment
funded from the Net Fiscal 2022 Fiscal 2023 Fiscal 2024
Proceeds
Investment into our Material Subsidiary, 4,671.70 1,239.19 1,586.87 1,845.64
Optival for funding working capital
requirements of Optival
General corporate purposes 1,055.71 500 555.71 -
Total 5,727.41 1,739.19 2,142.58 1,845.64

 

 

 

 

 

Means of Finance
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