62.

63.

64.

This Prospectus contains information from industry sources including the industry report
commissioned from CRISIL Research. Investors are advised not to place undue reliance on such
information.

This Prospectus includes information derived from third party industry sources and from a report dated
December 2020, titled “Studying the Automotive and Industrial Engineering Business in India” prepared
by CRISIL Research (the “CRISIL Report”) pursuant to an engagement with our Company. We
commissioned the CRISIL Report. Neither we, nor the Promoter, nor Directors, nor any of the BRLMs,
nor any other person connected with the Offer has verified the information in the CRISIL Report and
other information under “Industry Overview” on page 96, and we cannot guarantee the accuracy,
adequacy or completeness of any such information. Moreover, the industry sources including the CRISIL
Report contains certain industry and market data, based on certain assumptions.

Further, the reports use certain methodologies for market sizing and forecasting. There are no standard
data gathering methodologies in the markets in which we operate, and methodologies and assumptions
vary widely among different industry sources. Such assumptions may change based on various factors.
We cannot assure you that such assumptions are correct or will not change and, accordingly, our position
in the market may differ from that presented in this Prospectus. Further, the CRISIL Report or any other
industry data or sources are not recommendations to invest in our Company. Investors are advised not to
place undue reliance on the CRISIL Report or extracts thereof as included in this Prospectus, when
making their investment decisions. See “Certain Conventions, Use of Financial Information and
Market Data and Currency of Presentation” and “Industry Overview” on pages 12 and 96, respectively.

Our Company will not receive any proceeds from the Offer for Sale.

The Offer includes an Offer for Sale of 4,521,450 Equity Shares, in the aggregate, by the Selling
Shareholders, subject to finalisation of the Basis of Allotment. Our Company will not receive any
proceeds of the Offer for Sale by the Selling Shareholders. However, in the event that the Offer is
withdrawn or not completed for any reason whatsoever, all the Offer related expenses will be exclusively
borne by our Company. The expenses of the Selling Shareholders will, at the outset, be borne by our
Company and each Selling Shareholder will reimburse our Company for such expenses incurred by our
Company on behalf of such Selling Shareholders, in relation to the Offer, upon successful completion of
the Offer in the manner as prescribed under applicable law and agreed amongst the Company and the
Selling Shareholders. See “Objects of the Offer” on page 80.

We cannot assure you that the deployment of the Net Proceeds in the manner intended by us will result
in an increase in the value of your investment.

We intend to utilize the Net Proceeds as set forth in “Objects of the Offer” on page 80.

The fund requirement mentioned as a part of the objects of the Offer is based on our internal management
estimates based on the terms of our current financing documents and has not been appraised by any bank
or financial institution. This is based on current conditions and is subject to change in light of changes in
external circumstances, costs, other financial conditions or business strategies.

Any changes in the objects or variation in the terms of contract related to the objects of the Offer,
including due to factors or circumstances including competitive and dynamic market conditions,
variation in cost structures, changes in estimates due to cost overruns or delays, which may be beyond
our control, any such variation in the objects of the Offer would require a special resolution of our
Shareholders and in terms of Regulation 59 of the SEBI ICDR Regulations, our Promoter or controlling
Shareholders will be required to provide an exit opportunity to our Shareholders who do not agree to
such change or variation, pursuant to Section 27 of the Companies Act 2013. If our Shareholders exercise
such an exit option, the price of the Equity Shares may be adversely affected, which may affect the value
of your investment.

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