 

Sponsor Bank IRS. 2 Processing fees for applications made by Retail Individual Investors using|
the UPI mechanism will be Nil for each valid Bid cum application form*. The|
[sponsor Bank shall be responsible for making payments to the third parties such|
las remitter bank, NPCI and such other parties as required in connection with the|
erformance of its duties under the SEBI circulars, the Syndicate Agreement ani

lother applicable laws.

All such commissions and processing fees set out above shall be paid as per the timelines in terms of the Syndicate Agreement and Cash
Escrow and Sponsor Bank Agreement.

 

 

 

 

The processing fees for applications made by Retail Individual Bidders using the UPI Mechanism may be released
to the SCSBs only after such banks provide a written confirmation on compliance with SEBI Circular No:
SEBI/HO/CFD/DIL2/P/CIR/2021/570 dated June 02, 2021 read with SEBI Circular No:
SEBI/HO/CFD/DIL2/CIR/P/2021/2480/1/M dated March 16, 2021.

Monitoring of Utilisation of Funds

Our Company has appointed ICICI Bank Limited as the monitoring agency in accordance with Regulation 41 of
the SEBI ICDR Regulations. Our Audit Committee and the Monitoring Agency will monitor the utilization of the
Net Proceeds and the Monitoring Agency shall submit the report required under Regulation 41(2) of the SEBI
ICDR Regulation, on a quarterly basis, until such time as the Net Proceeds have been utilized in full. Our Company
undertakes to place the report(s) of the Monitoring Agency on receipt before the Audit Committee without any
delay. Our Company will disclose the utilisation of the Net Proceeds, including interim use under a separate head
in our balance sheet for such Financial Years as required under applicable law, specifying the purposes for which
the Net Proceeds have been utilized till the time any part of the Fresh Issue proceeds remains unutilized. Our
Company will also, in its balance sheet for the applicable Financial Years, provide details, if any, in relation to all
such Net Proceeds that have not been utilised, if any, of such currently unutilised Net Proceeds. Further, our
Company, on a quarterly basis, shall include the deployment of Net Proceeds under various heads, as applicable,
in the notes to our financial results, prepared in accordance with applicable regulations.

Pursuant to Regulation 32(3) of the SEBI Listing Regulations, our Company shall, on a quarterly basis, disclose
to the Audit Committee the uses and applications of the Net Proceeds. On an annual basis, our Company shall
prepare a statement of funds utilised for purposes other than those stated in this Prospectus and place it before the
Audit Committee and make other disclosures as may be required until such time as the Net Proceeds remain
unutilised. Such disclosure shall be made only until such time that all the Net Proceeds have been utilised in full.
The quarterly, as well as the annual statement shall be certified by the statutory auditor of our Company in
compliance with applicable regulations. Our Company shall furnish all details/ information/ certifications
provided by the statutory auditor in relation to the utilisation of Net Proceeds to the Monitoring Agency.
Furthermore, in accordance with Regulation 32(1) of the SEBI Listing Regulations, our Company shall furnish to
the Stock Exchanges on a quarterly basis, a statement indicating (i) deviations, if any, in the actual utilisation of
the proceeds of the Fresh Issue from the Objects; (ii) details of category wise variations in the actual utilisation of
the proceeds of the Fresh Issue from the objects of the Fresh Issue as stated above; and (iii) details of deployment
of Net Proceeds under various heads as disclosed in the Offer Document. This information will also be published
in newspapers simultaneously with the interim or annual financial results and explanation for such variation (if
any) will be included in our Director’s report, after placing the same before the Audit Committee.

Interim use of Net Proceeds

Pending utilization of the Net Proceeds for the purposes described above, our Company undertakes to deposit the
Net Proceeds only in one or more scheduled commercial banks included in the Second Schedule of the Reserve
Bank of India Act, 1934, as amended, as may be approved by our Board or the IPO Committee.

In accordance with Section 27 of the Companies Act, 2013, our Company confirms that it shall not use the Net
Proceeds for buying, trading or otherwise dealing in shares of any other listed company or for any investment in
the equity markets.

Other Confirmations

No part of the Net Proceeds will be paid by our Company as consideration to our Promoters, members of the
Promoter Group, our Directors or our Key Managerial Personnel.

Our Company has not entered into and is not planning to enter into any arrangement/ agreements with our
Promoters, Directors, or Key Managerial Personnel in relation to the utilisation of the Net Proceeds. Further, there

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