Net cash used in investing activities was = 1,653.63 million for the financial year 2019, primarily consisting of
the purchase of property, plant and equipment, including capital advances and work-in-progress, of
% 1,628.91 million in relation to ATMs, ATM sites, POS devices and others.

Financing Activities

Net cash used in financing activities was 1,319.12 million for the five months ended August 31, 2021. Net
cash generated from financing activities primarily consisted of repayment of long-term borrowings of
% 1,093.75 million, payment of lease liabilities of % 616.21 million and interest paid of % 562.45 million,
partially offset by proceeds from long-term borrowings of 2 1,306.64 million.

Net cash generated from financing activities was % 3,204.92 million for the financial year 2021. Net cash
generated from financing activities primarily consisted of proceeds from issuance of non-convertible debentures
of 25,500.00 million and proceeds from long-term borrowings of % 1,795.41 million, partially offset by
payment of lease liabilities of = 1,499.24 million and repayment of long-term borrowings of 2 1,163.17 million.

Net cash used in financing activities was % 1,717.57 million for the financial year 2020. Net cash used in
financing activities primarily consisted of payment of lease liabilities of = 1,496.82 million and repayment of
long-term borrowings of 2 1,470.82 million, partially offset by proceeds from long-term borrowings of
% 1,402.48 million and repayment from short-term borrowings (net) of = 772.69 million.

Net cash used in financing activities was % 3,151.78 million for the financial year 2019. Net cash used in
financing activities primarily consisted of repayment of long-term borrowings of % 1,551.46 million, payment of
lease liabilities of = 1,384.50 million, proceeds from short term borrowings (net) of 853.85 million and interest
paid of 2 727.19 million, partially offset by proceeds from long-term borrowings of 2 1,429.88 million.
Indebtedness

Our indebtedness as of August 31, 2021 is set out below:

 

Amount

Particulars (in millions)

 

 

Secured Borrowings

 

 

Non-current financial liabilities — Borrowings

 

Long-term borrowings (excluding Listed NCDs) 3,280.92

 

Listed NCDs 5,606.26

 

 

Current financial liabilities - Borrowings

 

 

 

 

 

 

 

 

 

 

 

Short-term borrowings (refer note below) 3,460.84
Total Secured Borrowings (A) 12,348.02
Current Financial Liabilities - Borrowings - Unsecured (B) 88.32
Total Lease Liabilities (Non-current and current) (C) 4,108.63}
Gross Debt (A + B + C) 16,544.97

 

‘Note: Shori-term borrowings tacludes current maturities of Tang term borrowings

Our financing agreements that we have entered into with our lenders contain certain restrictive covenants that
limit our ability to undertake certain types of transactions. See “Financial Indebtedness” for a description of
material terms of our indebtedness on page 315.

In the event our lenders declare an event of default, such current and any future defaults could lead to
acceleration of our obligations, termination of one or more of our financing agreements or force us to sell our
assets, which may adversely affect our business, results of operations and financial condition.

See “Risk Factors — Our inability to meet our obligations, including financial and other covenants under our

debt financing arrangements, could adversely affect our business, results of operations, cash flows and financial
condition” on page 44.

353
