The following table provides details of the Listed NCDs which are outstanding as of the date of this Prospectus:

 

 

S. | Name of Nature of Amount | Outstanding | Interest Purpose Pre-payment clause
No.| the borrowing | borrowed | amounts of | _ rate of raising
lender (in? October 31, the loan
million) 2021
(in million)

1. [Vista | Rated, listed, 5,500 5,689.00] Coupon | To Except as described below, our
ITCL secured, rate: 12% |subscribe |Company is not permitted to
(India) | redeemable, p.ap.m. |to VEPL|redeem the Listed NCDs
Limited | transferable, non- fixed | CCPS before expiry of the

convertible moratorium period (which is
debentures (Internal defined as a period of 24
Rate of months from the date of
Return: allotment)
18.75% p.a.
(“IRR”) Our Company may redeem the

Listed NCDs, by pre-paying
the accrued amounts, at least
10 days prior to the scheduled
redemption date, from:

(i) the proceeds from any
excess cashflow for voluntary
redemption without any pre-
payment penalty;

(ii) the proceeds of equity
without any prepayment
penalty, within a period of 12
months from the date of
allotment, provided that our
Company delivers 12 months’
IRR on the Listed NCDs
proposed to be redeemed; and

(iii) the proceeds of equity
without any prepayment
penalty, within a period of 12
to 24 months from the date of
allotment.

 

 

 

 

 

 

 

 

 

 

The Listed NCDs have been issued on the condition that our Company will be required to redeem the outstanding
Listed NCDs, by paying an amount equal to 100% of the net amount raised from an initial public offering made by
our Company and/or the sale of Equity Shares, within five business days of such an initial public offering and/or
sale of Equity Shares.

For details on our financial indebtedness, see also “Financial Indebtedness” on page 315.
Offer Expenses
The total expenses of the Offer are estimated to be approximately 7309.91 million.

The Offer related expenses primarily include fees payable to the Book Running Lead Managers and legal counsels,
fees payable to the Statutory Auditors, brokerage and selling commission, underwriting commission, commission
payable to Registered Brokers, RTAs, CDPs, SCSBs’ fees, Sponsor Bank’s fees, Registrar’s fees, printing and
stationery expenses, advertising and marketing expenses and all other incidental and miscellaneous expenses for
listing the Equity Shares on the Stock Exchanges.

Other than listing fees, the audit fees of our Statutory Auditors (to the extent not attributable to the Offer) and
expenses in relation to corporate advertisements which shall be solely paid by the Company, the fees and expenses

105
