genesis colors limited - bseindia.com
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DRAFT RED HERRING PROSPECTUSDated September 28, 2016
Please read Section 32 of the Companies Act 2013(This Draft Red Herring Prospectus will be updated upon filing with the RoC)
100% Book Building Offer
GENESIS COLORS LIMITEDOur Company was incorporated as “Genesis Retail Private Limited” on November 23, 1998, as a private limited company under the Companies Act 1956, at New Delhi, with a certificate of incorporation granted by the Registrar of Companies, National Capital Territory of Delhi and Haryana (“RoC”). A fresh certificate of incorporation consequent to the change in our Company’s name to “Genesis Colors Private Limited” was issued by the RoC on September 14, 2001. Pursuant to a change in the location of our registered office from New Delhi to Gurgaon, the RoC issued a fresh certificate of incorporation dated March 20, 2015. Further, pursuant to the conversion of our Company to a public limited company, our name was changed to “Genesis Colors Limited” and the RoC issued a fresh certificate of incorporation on September 16, 2016. For details of changes in name and registered office of our Company, see “History and Certain Corporate Matters” on page 126.
Corporate Identity Number: U51311HR1998PLC054949Registered and Corporate Office:51-52, Udyog Vihar, Phase – IV, Gurgaon,122001, Haryana,IndiaTel: +91 1244181 111 Fax: +91 124418 1112
Contact Person: Ms. Meenu Juneja, Company Secretary and Compliance Officer Tel:+91 124418 1040Fax:+91 124 418 1112E-mail: [email protected]: www.genesiscolors.com
OUR PROMOTERS: MR. SANJAY KAPOOR AND SANJAY KAPOOR TRUST
INITIAL PUBLIC OFFERING OF UP TO [•] EQUITY SHARES OF FACE VALUE OF ` 10 EACH (THE “EQUITY SHARES”) OF GENESIS COLORS LIMITED (OUR “COMPANY” OR THE “COMPANY” OR THE “ISSUER”) FOR CASH AT A PRICE OF ` [•] PER EQUITY SHARE (INCLUDING SHARE PREMIUM OF ` [•] PER EQUITY SHARE) (THE “OFFER PRICE”) AGGREGATING UP TO [•] MILLION (THE “OFFER”) COMPRISING A FRESH ISSUE OF [•] EQUITY SHARES BY OUR COMPANY AGGREGATING UP TO `3,800 MILLION AND AN OFFER FOR SALE OF UPTO 1,916,741 EQUITY SHARES AGGREGATING TO ` [•] MILLION BY THE SELLING SHAREHOLDERS, INCLUDING UPTO 859,219 EQUITY SHARES AGGREGATING TO ` [•] MILLION BY HEP MAURITIUS LIMITED, UP TO 130,006 EQUITY SHARES AGGREGATING TO ` [•] MILLION BY SEMINARY TIE-UP PRIVATE LIMITED, UP TO 556,316 EQUITY SHARES AGGREGATING TO ` [•] MILLION BY MAYFIELD FVCI, LTD., UP TO 161,065 EQUITY SHARES AGGREGATING TO ` [•] MILLION BY ICP HOLDINGS I, UP TO 70,047 EQUITY SHARES AGGREGATING TO ` [•] MILLION BY PRANAV ANSAL & SON HUF, UP TO 70,044 EQUITY SHARES AGGREGATING TO ` [•] MILLION BY MS. KUSUM ANSAL AND UP TO 70,044 EQUITY SHARES AGGREGATING TO ` [•] MILLION BY MS. SHEETAL ANSAL (“OFFER FOR SALE”). THE OFFER SHALL CONSTITUTE [•]% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.THE PRICE BAND AND THE MINIMUM BID LOT WILL BE DECIDED BY OUR COMPANY AND THE INSTITUTIONAL SELLING SHAREHOLDERS (AS DEFINED BELOW), IN CONSULTATION WITH THE GLOBAL CO-ORDINATORS AND BOOK RUNNING LEAD MANAGERS (THE “GCBRLMs”) AND BOOK RUNNING LEAD MANAGER (“BRLM”) AND WILL BE ADVERTISED IN [•] EDITIONS OF [•] (A WIDELY CIRCULATED ENGLISH NATIONAL DAILY NEWSPAPER) AND [•] EDITIONS OF [•] (A WIDELY CIRCULATED HINDI NATIONAL DAILY NEWSPAPER, HINDI ALSO BEING THE REGIONAL LANGUAGE IN THE PLACE WHERE OUR REGISTERED AND CORPORATE OFFICE IS LOCATED) AT LEAST FIVE WORKING DAYS PRIOR TO THE BID/OFFER OPENING DATE AND SHALL BE MADE AVAILABLE TO THE BSE LIMITED (THE “BSE”) AND THE NATIONAL STOCK EXCHANGE OF INDIA LIMITED (THE “NSE”, AND TOGETHER WITH THE BSE, THE “STOCK EXCHANGES”) FOR THE PURPOSES OF UPLOADING ON THEIR RESPECTIVE WEBSITES.
THE FACE VALUE OF THE EQUITY SHARE IS `10 EACHIn case of a revision in the Price Band, the Bid/Offer Period will be extended for at least three additional Working Days after revision of the Price Band subject to the Bid/Offer Period not exceeding a total of 10 Working Days. Any revision in the Price Band and the revised Bid/Offer Period, if applicable, will be widely disseminated by notification to the Stock Exchanges, by issuing a press release, and also by indicating the change on the websites of the GCBRLMs and BRLM, and at the terminals of the members of the Syndicate and by intimation to Self Certified Syndicate Banks (“SCSBs”), the Registered Brokers,Collecting Registrar and Share Transfer Agents (“CRTAs”)and Collecting Depository Participants (“CDPs”).The offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), through the Book Building Process and in compliance with Regulation 26(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”), wherein at least 75% of the Offer shall be Allotted to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that the Company and HEP Mauritius Limited, Mayfield FVCI, Ltd. and ICP Holdings I (the “Institutional Selling Shareholders”)may, in consultation with the GCBRLMs and BRLM, allocate up to 60% of the QIB Category to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third is to be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors. Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. Further, not more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not more that 10% of the Offer shall be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Investors (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process, and shall provide details of their respective bank account in which the Bid amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”).Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.For details, see “OfferProcedure” on page 327.
RISKS IN RELATION TO THE FIRST OFFER
This being the first public issue of the Equity Shares, there has been no formal market for the Equity Shares of our Company. The face value of our Equity Shares is ` 10 and the Floor Price and Cap Price are [•] times and [•] times of the face value of the Equity Shares, respectively. The Offer Price (as determined and justified by our Company and the Institutional Selling Shareholders in consultation with the GCBRLMs and BRLM, in accordance with with SEBI ICDR Regulations, and as stated in “Basis for OfferPrice” on page 87) should not be taken to be indicative of the market price of the Equity Shares after the Equity Shares are listed. No assurance can be given regarding an active and/or sustained trading in the Equity Shares or regarding the price at which the Equity Shares will be traded after listing.
GENERAL RISKSInvestments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in the Offer unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in the Offer. For taking an investment decision, investors must rely on their own examination of our Company and the Offer including the risks involved. The Equity Shares have not been recommended or approved by the Securities and Exchange Board of India (“SEBI”), nor does the SEBI guarantee the accuracy or adequacy of the contents of this Draft Red Herring Prospectus. Specific attention of the investors is invited to “Risk Factors” on page 16.
ISSUER’S AND SELLING SHAREHOLDERS’ ABSOLUTE RESPONSIBILITYOur Company, having made all reasonable inquiries, accepts responsibility for and confirms that this Draft Red Herring Prospectus contains all information with regard to our Company and the Offer, which is material in the context of the Offer, that the information contained in this Draft Red Herring Prospectus is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Draft Red Herring Prospectus as a whole or any of such information or the expression of any such opinions or intentions, misleading in any material respect. Further, each Selling Shareholder accepts responsibility for and confirms that the information relating to itself and the Equity Shares being offered by it in the Offer for Sale contained in this Draft Red Herring Prospectus are true and correct in all material aspects and are not misleading in any material respect. Each Selling Shareholder, severally and not jointly, does not assume any responsibility for any other statements, including without limitation, any and all of the statements made by or in relation to the Company or the other Selling Shareholders in this Draft Red Herring Prospectus.
LISTINGThe Equity Shares issued though the Red Herring Prospectus are proposed to be listed on the Stock Exchanges. We have received in-principle approvals from the BSE and the NSE for the listing of the Equity Shares pursuant to letters dated [•] and [•], respectively. For the purposes of this Offer, [•] is the Designated Stock Exchange. A signed copy of the Red Herring Prospectus and the Prospectus shall be delivered for registration to the RoC in accordance with Section 26(4) of the Companies Act 2013. For details of the material contracts and documents available for inspection from the date of the Red Herring Prospectus up to the Bid/Offer Closing Date. For details, see “Material Contracts and Documents for Inspection” on page 381.
GLOBAL CO-ORDINATORS AND BOOK RUNNING LEAD MANAGERS BOOK RUNNING LEAD MANAGER REGISTRAR TO THE OFFER
ICICI Securities LimitedICICI Center, H.T. Parekh Marg, Churchgate, Mumbai – 400 020, Maharashtra,IndiaTel: +91 22 2288 2460; Fax: +91 22 2282 6580E-mail: [email protected]; Website: www.icicisecurities.comInvestor Grievance E-mail: [email protected] Person: Govind KhetanSEBI Registration No.: INM000011179
Edelweiss Financial Services Limited 14th Floor, Edelweiss House, Off. CST Road, Kalina, Mumbai – 400 098, Maharashtra, IndiaTel: +91 22 4009 4400; Fax: +91 22 4086 3610E-mail: [email protected]; Website: www.edelweissfin.comInvestor Grievance E-mail: [email protected] Person: Siddharth Shah / Sanjukta BhattacharjeeSEBI Registration No.: INM0000010650
Ambit Private Limited*
Ambit House, 449, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India Tel: +91 22 3982 1819; Fax: +91 22 3982 3020E-mail: [email protected], Website: www.ambit.coInvestor Grievance E-mail: [email protected] Contact Person: Sandeep Sharma SEBI Registration No.: INM000010585* Formerly Ambit Corporate Finance Private Limited
Link Intime India Private LimitedC-13, Pannalal Silk Mills Compound, L.B.S Marg, Bhandup (West), Mumbai– 400 078, Maharashtra, IndiaTel: +91 22 6171 5400;Fax: +91 22 2596 0329E-mail: [email protected]; Website: www.linkintime.co.inInvestor Grievance Email: [email protected] Person: Shanti GopalkrishnanSEBI Registration No.: INR000004058
BID/OFFER PERIOD*BID/OFFER OPENS ON* [•] BID/OFFER CLOSES ON ** [•]
* Our Company and the Institutional Selling Shareholders, in consultation with the GCBRLMs and BRLM, may consider participation by Anchor Investors, in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date.** Our Company and the Institutional Selling Shareholders, in consultation with the GCBRLMs and BRLM, may decide to close the Bid/Offer Period for QIBs one Working Day prior to the Bid/Offer Closing Date, in accordance with the SEBI ICDR Regulations.
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SECTION I - GENERAL ..................................................................................................................................... 2 DEFINITIONS AND ABBREVIATIONS ..................................................................................................... 2 CERTAIN CONVENTIONS, USE OF FINANCIAL INFORMATION AND MARKET DATA AND CURRENCY OF PRESENTATION ............................................................................................................ 12 FORWARD-LOOKING STATEMENTS ................................................................................................... 15
SECTION II - RISK FACTORS ....................................................................................................................... 16 SECTION III – INTRODUCTION ................................................................................................................... 40
SUMMARY OF INDUSTRY ........................................................................................................................ 40 SUMMARY OF BUSINESS ......................................................................................................................... 44 SUMMARY FINANCIAL INFORMATION .............................................................................................. 51 THE OFFER .................................................................................................................................................. 59 GENERAL INFORMATION ....................................................................................................................... 60 CAPITAL STRUCTURE .............................................................................................................................. 68 OBJECTS OF THE OFFER ......................................................................................................................... 83 BASIS FOR OFFER PRICE ........................................................................................................................ 87 STATEMENT OF TAX BENEFITS ............................................................................................................ 90
SECTION IV: ABOUT THE COMPANY ....................................................................................................... 92 INDUSTRY OVERVIEW ............................................................................................................................. 92 OUR BUSINESS .......................................................................................................................................... 104 KEY REGULATIONS AND POLICIES IN INDIA................................................................................. 123 HISTORY AND CERTAIN CORPORATE MATTERS ......................................................................... 126 OUR MANAGEMENT ............................................................................................................................... 138 OUR PROMOTERS, PROMOTER GROUP AND GROUP COMPANIES ......................................... 152 DIVIDEND POLICY ................................................................................................................................... 158
SECTION V – FINANCIAL INFORMATION ............................................................................................. 159 FINANCIAL STATEMENTS..................................................................................................................... 159 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ...................................................................................................................................... 274 FINANCIAL INDEBTEDNESS ................................................................................................................. 292
SECTION VI – LEGAL AND OTHER INFORMATION ........................................................................... 294 OUTSTANDING LITIGATION AND OTHER MATERIAL DEVELOPMENTS .............................. 294 GOVERNMENT AND OTHER APPROVALS ........................................................................................ 301 OTHER REGULATORY AND STATUTORY DISCLOSURES ........................................................... 305
SECTION VII – OFFER RELATED INFORMATION ............................................................................... 319 OFFER STRUCTURE ................................................................................................................................ 319 TERMS OF THE OFFER ........................................................................................................................... 323 RESTRICTION ON FOREIGN OWERSHIP OF SECURITIES .......................................................... 326 OFFER PROCEDURE................................................................................................................................ 327
SECTION VIII – MAIN PROVISIONS OF ARTICLES OF ASSOCIATION .......................................... 373 SECTION IX – OTHER INFORMATION .................................................................................................... 381
MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION ................................................ 381 DECLARATION ......................................................................................................................................... 383
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UURN" U{orjqp{"Rtkpvu"Rtkxcvg"Nkokvgf"UUUJC" Share subscription and shareholders’ agreement dated May 22, 2008 coqpi" vjg"
UUUJC"Kpxguvqtu."qwt"Eqorcp{"cpf"Ot0"Ucplc{"Mcrqqt."cu"cogpfgf"d{"cogpfogpv"citggogpvu"fcvgf"Ugrvgodgt"4:."422;."Lwn{"49."4233"cpf"Pqxgodgt"52."42340""
UUUJC"Kpxguvqtu" Vjg"Ugswqkc"Kpxguvqtu."KER"cpf"Oc{hkgnf""Uwdukfkctkgu" The subsidiaries of our Company as disclosed in “Jkuvqt{"cpf"Egtvckp"Eqtrqtcvg"
Ocvvgtu"–"Uwdukfkctkgu"qh"qwt"Eqorcp{”"qp"rcig"356"UXD" UXD"Kpfkc"Ecrkvcn"Rctvpgtu"K."N0R0"X(D"Kpfkc" X(D"Nkhguv{ng"Kpfkc"Rtkxcvg"Nkokvgf""
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6""""
Qhhgt"Tgncvgf"Vgtou""
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Vgto" Fguetkrvkqp"
Cempqyngfiogpv"Unkr" Vjg"unkr"qt"fqewogpv"kuuwgf"d{"vjg"Fgukipcvgf"Kpvgtogfkct{*kgu+"vq"c"Dkffgt"cu"rtqqh"qh"tgikuvtcvkqp"qh"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"
Cnnqvvgf1Cnnqvogpv1Cnnqv" Vjg"kuuwg."cnnqvogpv"cpf"vtcpuhgt"qh"vjg"Gswkv{"Ujctgu"vq"uweeguuhwn"Dkffgtu"rwtuwcpv"vq"vjg"Qhhgt""
Cnnqvvgg" C"uweeguuhwn"Dkffgt"vq"yjqo"vjg"Gswkv{"Ujctgu"ctg"Cnnqvvgf"Cnnqvogpv"Cfxkeg" Vjg"pqvg"qt"cfxkeg"qt"kpvkocvkqp"qh"Cnnqvogpv."ugpv"vq"gcej"uweeguuhwn"Dkffgt"yjq"jcu"
dggp"qt"ku"vq"dg"Cnnqvvgf"vjg"Gswkv{"Ujctgu"chvgt"crrtqxcn"qh"vjg"Dcuku"qh"Cnnqvogpv"d{"vjg"Fgukipcvgf"Uvqem"Gzejcpig"
Cpejqt"Guetqy"Ceeqwpv" Ceeqwpv" qrgpgf" ykvj" Cpejqt" Guetqy" Dcpm" hqt" vjg" Qhhgt" cpf" kp" yjqug" hcxqwt" vjg"Cpejqt"Kpxguvqtu"yknn"vtcpuhgt"oqpg{"vjtqwij"fktgev"etgfkv"qt"PGHV"qt"TVIU"kp"tgurgev"qh"vjg"Dkf"Coqwpv"yjgp"uwdokvvkpi"c"Dkf""
Cpejqt" Guetqy"Citggogpv"
Citggogpv"fcvgf"[●]."gpvgtgf"kpvq"coqpi"qwt"Eqorcp{."vjg"Ugnnkpi"Ujctgjqnfgtu."vjg"Tgikuvtct" vq" vjg" Qhhgt." vjg"IEDTNOu." DTNO" vjg" U{pfkecvg" Ogodgtu." vjg" Cpejqt"Guetqy"Dcpm"cpf"Tghwpf"Dcpm"hqt"eqnngevkqp"qh"vjg"Dkf"Coqwpvu"cpf"yjgtg"crrnkecdng"tgokvvkpi"tghwpfu."kh"cp{."vq"vjg"Cpejqt"Kpxguvqtu."qp"vjg"vgtou"cpf"eqpfkvkqpu"vjgtgqh"
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Cpejqt" Kpxguvqt" Qhhgt"Rtkeg"
Vjg" hkpcn"rtkeg"cv"yjkej" vjg"Gswkv{"Ujctgu"yknn"dg"Cnnqvvgf" vq"Cpejqt"Kpxguvqtu" kp"vgtou"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"cpf"vjg"Rtqurgevwu."yjkej"yknn"dg"c"rtkeg"gswcn"vq" qt" jkijgt" vjcp" vjg" Qhhgt" Rtkeg" dwv" pqv" jkijgt" vjcp" vjg" Ecr" Rtkeg0" Vjg" Cpejqt"Kpxguvqt" Qhhgt"Rtkeg"yknn"dg"fgekfgf"d{"qwt" Eqorcp{" cpf" vjg" Kpuvkvwvkqpcn" Ugnnkpi"Ujctgjqnfgtu."kp"eqpuwnvcvkqp"ykvj"vjg"IEDTNOu"cpf"DTNO"
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Crrnkecvkqp" Uwrrqtvgf"d{" Dnqemgf" Coqwpv1"CUDC"
Vjg" crrnkecvkqp" *yjgvjgt" rj{ukecn" qt" gngevtqpke+" d{" c" Dkffgt" *qvjgt" vjcp" Cpejqt"Kpxguvqtu+"vq"ocmg"c"Dkf"cwvjqtk|kpi"vjg"tgngxcpv"UEUD"vq"dnqem"vjg"Dkf"Coqwpv"kp"vjg"tgngxcpv"CUDC"Ceeqwpv""
CUDC"Ceeqwpv" C"dcpm"ceeqwpv"ockpvckpgf"ykvj"cp"UEUD"cpf"urgekhkgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto" yjkej" yknn" dg" dnqemgf" d{" uwej" UEUD" vq" vjg" gzvgpv" qh" vjg" crrtqrtkcvg" Dkf"Coqwpv"kp"tgncvkqp"vq"c"Dkf"d{"c"Dkffgt"*qvjgt"vjcp"c"Dkf"d{"cp"Cpejqt"Kpxguvqt+"
CUDC"Hqto" Cp"crrnkecvkqp"hqto."yjgvjgt"rj{ukecn"qt"gngevtqpke."wugf"d{"Dkffgtu"dkffkpi"vjtqwij"vjg"CUDC"rtqeguu."yjkej"yknn"dg"eqpukfgtgf"cu"vjg"crrnkecvkqp"hqt"Cnnqvogpv"kp"vgtou"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"cpf"vjg"Rtqurgevwu"
Dcpmgt*u+" vq" vjg" Qhhgt"1Cpejqt" Guetqy"Dcpm*u+"
Vjg"dcpm*u+"yjkej"ku1ctg"engctkpi"ogodgtu"cpf"ctg"tgikuvgtgf"ykvj"vjg"UGDK"cu"cp"guetqy"dcpm."ykvj"yjqo" vjg"Cpejqt"Guetqy"Ceeqwpvu" kp" tgncvkqp" vq" vjg" Qhhgt"hqt"Dkfu"d{"Cpejqt"Kpxguvqtu"will be opened, in this case being [●]"
Dcuku"qh"Cnnqvogpv"" Vjg"dcuku"qp"yjkej"vjg"Gswkv{"Ujctgu"yknn"dg"Cnnqvvgf"vq"uweeguuhwn"Dkffgtu"wpfgt"vjg"Qhhgt, described in “Qhhgt"Rtqegfwtg” on page 549"
Dkf" Cp"kpfkecvkqp"vq"ocmg"cp"qhhgt"fwtkpi"vjg"Dkf1Qhhgt"Rgtkqf"d{"c"Dkffgt"*qvjgt"vjcp"cp"Cpejqt" Kpxguvqt+." qt" qp" vjg" Cpejqt" Kpxguvqt" Dkffkpi" Fcvg" d{" cp" Cpejqt" Kpxguvqt."rwtuwcpv"vq"uwdokuukqp"qh"c"Dkf"ewo"Crrnkecvkqp"Hqto."vq"uwduetkdg"hqt"qt"rwtejcug"qwt"Gswkv{"Ujctgu"cv"c"rtkeg"ykvjkp"vjg"Rtkeg"Dcpf."kpenwfkpi"cnn"tgxkukqpu"cpf"oqfkhkecvkqpu"vjgtgvq."vq"vjg"gzvgpv"rgtokuukdng"wpfgt"vjg"UGDK"KEFT"Tgiwncvkqpu."kp"vgtou"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"cpf"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0""
Dkf"Coqwpv" Vjg"jkijguv"xcnwg"qh"vjg"qrvkqpcn"Dkfu"cu"kpfkecvgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"rc{cdng"d{"vjg"Dkffgt"qt"cu"dnqemgf"kp"vjg"CUDC"Ceeqwpv"qh"vjg"Dkffgt."cu"vjg"ecug"oc{"dg."wrqp"uwdokuukqp"qh"vjg"Dkf"kp"vjg"Qhhgt"
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7""""
Vgto" Fguetkrvkqp"
Dkf"ewo"Crrnkecvkqp"Hqto"
Vjg"hqto"kp"vgtou"qh"yjkej"vjg"Dkffgt"ujcnn"ocmg"c"Dkf."kpenwfkpi"CUDC"Hqto."cpf"yjkej"ujcnn"dg"eqpukfgtgf"cu"vjg"crrnkecvkqp"hqt"vjg"Cnnqvogpv"rwtuwcpv"vq"vjg"vgtou"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"cpf"vjg"Rtqurgevwu""
Dkf"Nqv" [●]"Gswkv{"Ujctgu"Dkffgt" Cp{"rtqurgevkxg"kpxguvqt"yjq"ocmgu"c"Dkf"rwtuwcpv"vq"vjg"vgtou"qh"vjg"Tgf"Jgttkpi"
Rtqurgevwu"cpf"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"wpnguu"qvjgtykug"uvcvgf"qt"kornkgf."kpenwfgu"cp"Cpejqt"Kpxguvqt"
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Dkf1Qhhgt"Qrgpkpi"Fcvg" Gzegrv"kp"tgncvkqp"vq"Cpejqt"Kpxguvqtu."vjg"fcvg"qp"yjkej"vjg"Fgukipcvgf"Kpvgtogfkctkgu"ujcnn"uvctv"ceegrvkpi"Dkfu"hqt"vjg"Qhhgt."yjkej"ujcnn"dg"rwdnkujgf"kp"[●] gfkvkqpu"of [●] *c"ykfgn{"ektewncvgf"Gpinkuj"pcvkqpcn"fckn{"pgyurcrgt+"cpf"[●]"gfkvkqpu"of [●] (a widely ektewncvgf"Jkpfk"pcvkqpcn"fckn{"pgyurcrgt."Jkpfk"cnuq"dgkpi"vjg"tgikqpcn"ncpiwcig"kp"vjg"rnceg"yjgtg"qwt"Tgikuvgtgf"cpf"Eqtrqtcvg"Qhhkeg"ku" nqecvgf+"cpf"kp"ecug"qh"cp{"tgxkukqpu."vjg"gzvgpfgf"Dkf1Qhhgt"Enqukpi"Fcvg"ujcnn"cnuq"dg"pqvkhkgf"qp"vjg"ygdukvgu"cpf"vgtokpcnu"qh"vjg"U{pfkecvg"Ogodgtu."cu"tgswktgf"wpfgt"vjg"UGDK"KEFT"Tgiwncvkqpu0"
Dkf1Qhhgt"Rgtkqf" Gzegrv"kp"tgncvkqp"vq"Cpejqt"Kpxguvqtu."vjg"rgtkqf"dgvyggp"vjg"Dkf1Qhhgt"Qrgpkpi"Fcvg"cpf" vjg" Dkf1Qhhgt" Enqukpi" Fcvg." kpenwukxg" qh" dqvj" fc{u" fwtkpi" yjkej" rtqurgevkxg"Dkffgtu"*gzenwfkpi"Cpejqt"Kpxguvqtu+"ecp"uwdokv" vjgkt"Dkfu." kpenwfkpi"cp{"tgxkukqpu"vjgtgqh"kp"ceeqtfcpeg"ykvj"vjg"UGDK"KEFT"Tgiwncvkqpu"cpf"vjg"vgtou"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu0"
Dkffkpi"Egpvtgu" Egpvtgu"cv"yjkej"vjg"Fgukipcvgf"Kpvgtogfkctkgu"ujcnn"ceegrv"vjg"Dkf"ewo"Crrnkecvkqp"Hqtou."dgkpi" vjg" Fgukipcvgf" UEUD" Dtcpej" hqt" UEUDu." Urgekhkgf" Nqecvkqpu" hqt" vjg"U{pfkecvg." Dtqmgt" Egpvtgu" hqt" Tgikuvgtgf" Dtqmgtu." Fgukipcvgf" TVC" Nqecvkqpu" hqt"ETVCu"cpf"Fgukipcvgf"EFR"Nqecvkqpu"hqt"EFRu0"
Dqqm"Dwknfkpi"Rtqeguu" Vjg"dqqm"dwknfkpi"rtqeguu"cu"fguetkdgf"kp"Uejgfwng"ZK"qh"vjg"UGDK"KEFT"Tgiwncvkqpu."kp"vgtou"qh"yjkej"vjg"Qhhgt"ku"dgkpi"ocfg"
Dqqm"Twppkpi"Ngcf"Ocpcigt1DTNO"
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ECP"1"Eqphktocvkqp"qh"Cnnqecvkqp"Pqvg"
Pqvkeg"qt"kpvkocvkqp"qh"cnnqecvkqp"qh"vjg"Gswkv{"Ujctgu"ugpv"vq"Cpejqt"Kpxguvqtu."yjq"jcxg"dggp"cnnqecvgf"vjg"Gswkv{"Ujctgu."chvgt"vjg"Cpejqt"Kpxguvqt"Dkffkpi"Fcvg"
Ecr"Rtkeg" Vjg"jkijgt"gpf"qh"vjg"Rtkeg"Dcpf"cdqxg"yjkej"vjg"Qhhgt"Rtkeg"cpf"Cpejqt"Kpxguvqt"Qhhgt"Rtkeg"yknn"pqv"dg"hkpcnk|gf"cpf"cdqxg"yjkej"pq"Dkfu"yknn"dg"ceegrvgf." kpenwfkpi"cp{"tgxkukqpu"vjgtgqh"
Enkgpv"KF" Client identification number of the Bidder’s beneficiary account"Eqnngevkpi"Fgrqukvqt{"Rctvkekrcpvu1EFRu"
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Eqnngevkpi"Tgikuvtct"cpf"Ujctg"Vtcpuhgt"Cigpvu"qt"ETVCu"
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"
8""""
Vgto" Fguetkrvkqp"
SKDu"*kpenwfkpi"Cpejqt"Kpxguvqtu+"cpf"Pqp/Kpuvkvwvkqpcn"Kpxguvqtu"ctg"pqv"gpvkvngf"vq"Dkf"cv"vjg"Ewv/qhh"Rtkeg"
Fgoqitcrjke"Fgvcknu" The details of the Bidders including the Bidders’ address, names of the Bidders’ hcvjgt1jwudcpf."kpxguvqt"uvcvwu."qeewrcvkqp"cpf"dcpm"ceeqwpv"fgvcknu""
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Fgukipcvgf"EFR"Nqecvkqpu"
Uwej"egpvtgu"qh"vjg"Eqnngevkpi"Fgrqukvqt{"Rctvkekrcpvu"yjgtg"Dkffgtu"*gzegrv"Cpejqt"Kpxguvqtu+"ecp"uwdokv"vjg"Dkf"ewo"Crrnkecvkqp"Hqtou0"Vjg"fgvcknu"qh"uwej"Fgukipcvgf"EFR"Nqecvkqpu."cnqpi"ykvj"vjg"pcogu"cpf"eqpvcev"fgvcknu"qh"vjg"EFRu"ctg"cxckncdng"qp"vjg"tgurgevkxg"ygdukvgu"qh"vjg"Uvqem"Gzejcpigu"cpf"wrfcvgf"htqo"vkog"vq"vkog"
Fgukipcvgf"Fcvg" Vjg"fcvg"qp"yjkej"vjg"hwpfu"htqo"vjg"Cpejqt"Guetqy"Ceeqwpvu"ctg"vtcpuhgttgf"vq"vjg"Rwdnke" Qhhgt" Ceeqwpv" qt" vjg" Tghwpf" Ceeqwpv*u+." cu" crrtqrtkcvg." cpf" vjg" coqwpvu"dnqemgf"d{"vjg"UEUDu"ctg"vtcpuhgttgf"htqo"vjg"CUDC"Ceeqwpvu."vq"vjg"Rwdnke"Qhhgt"Ceeqwpv"qt"Tghwpf"Ceeqwpv."cu"crrnkecdng."kp"vgtou"qh" vjg"Tgf"Jgttkpi"Rtqurgevwu."hqnnqykpi"yjkej"vjg"Dqctf"qh"Fktgevqtu"oc{"Cnnqv"Gswkv{"Ujctgu"vq"uweeguuhwn"Dkffgtu"kp"vjg"Qhhgt"cpf"vjg"Ugnnkpi"Ujctgjqnfgtu"ikxg"fgnkxgt{"kpuvtwevkqpu"hqt"vjg"vtcpuhgt"qh"vjgkt"tgurgevkxg"rqtvkqpu"qh"vjg"Gswkv{"Ujctgu"wpfgt"vjg"Qhhgt"hqt"Ucng"
Fgukipcvgf"Kpvgtogfkctkgu"
Collectively, the members of the Syndicate, sub-syndicate/agents, SCSBs, Registered
Brokers, CDPs and CRTAs, who are authorized to collect Bid cum Application Forms
from the Bidders (other than Anchor Investors), in relation to the Offer"Fgukipcvgf"TVC"Nqecvkqpu"
Uwej"egpvtgu"qh"vjg"ETVCu"yjgtg"Dkffgtu"*gzegrv"Cpejqt"Kpxguvqtu+"ecp"uwdokv"vjg"Dkf"ewo"Crrnkecvkqp"Hqtou0"Vjg"fgvcknu"qh"uwej"Fgukipcvgf"TVC"Nqecvkqpu."cnqpi"ykvj"vjg"pcogu"cpf"eqpvcev"fgvcknu"qh"vjg"ETVCu"ctg"cxckncdng"qp"vjg"tgurgevkxg"ygdukvgu"qh"vjg"Uvqem"Gzejcpigu"*yyy0pugkpfkc0eqo"cpf"yyy0dugkpfkc0eqo+"cpf"wrfcvgf"htqo"vkog"vq"vkog
Fgukipcvgf"Uvqem"Gzejcpig"
[●]"
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Gfgnygkuu" Gfgnygkuu"Hkpcpekcn"Ugtxkegu"Nkokvgf"Gnkikdng"PTK" C"pqp/tgukfgpv"Kpfkcp."tgukfgpv"kp"c"lwtkufkevkqp"qwvukfg"Kpfkc"yjgtg"kv"ku"pqv"wpncyhwn"vq"
ocmg"cp"qhhgt"qt"kpxkvcvkqp"wpfgt"vjg"Qhhgt"cpf"kp"tgncvkqp"vq"yjqo" vjg"Tgf"Jgttkpi"Rtqurgevwu"eqpuvkvwvgu"cp"kpxkvcvkqp"vq"uwduetkdg"hqt"vjg"Gswkv{"Ujctgu"
Hktuv"Dkffgt" Vjg" Dkffgt"yjqug" pcog" crrgctu" hktuv" kp" vjg" Dkf" ewo" Crrnkecvkqp" Hqto" qt" vjg"Tgxkukqp"Hqto"cpf"kp"ecug"qh"lqkpv"Dkffgtu."yjqug"pcog"crrgctu"cu"vjg"hktuv"jqnfgt"qh"vjg"dgpghkekct{"ceeqwpv"jgnf"kp"lqkpv"pcogu"
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Htguj"Kuuwg" Htguj"kuuwg"qh"[●]"Gswkv{"Ujctgu"ciitgicvkpi"wr"vq"₹ 3,800"oknnkqp"vq"dg"kuuwgf"d{"qwt"Eqorcp{"cu"rctv"qh"vjg"Qhhgt."kp"vgtou"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"cpf"Rtqurgevwu0""
Igpgtcn"Kphqtocvkqp"Fqewogpv"
Vjg"Igpgtcn"Kphqtocvkqp"Fqewogpv"hqt"kpxguvkpi"kp"rwdnke"kuuwgu"rtgrctgf"cpf"kuuwgf"kp" ceeqtfcpeg" ykvj" vjg" ektewnct" *EKT1EHF1FKN13414235+" fcvgf" Qevqdgt" 45." 4235."pqvkhkgf" d{" UGDK" cpf" wrfcvgf" rwtuwcpv" vq" vjg" ektewnct"*EKT1EHF1RQNKE[EGNN13314237+" fcvgf" Pqxgodgt" 32." 4237" cpf"*UGDK1JQ1EHF1FKN1EKT1R14238148+"fcvgf"Lcpwct{"43."4238"pqvkhkgf"d{"UGDK"cpf"included in “Qhhgt"Rtqegfwtg” on page 549"
Inqdcn"Eq/qtfkpcvqtu"cpf"Dqqm"Twppkpi"Ngcf"Ocpcigtu"
Inqdcn"eq/qtfkpcvqtu"cpf"dqqm"twppkpi"ngcf"ocpcigtu"vq"vjg"Qhhgt."kp"vjku"ecug"dgkpi"KEKEK"Ugewtkvkgu"Nkokvgf"cpf"Gfgnygkuu"Hkpcpekcn"Ugtxkegu"Nkokvgf"
K/Uge" KEKEK"Ugewtkvkgu"Nkokvgf""Oczkowo"TKK"Cnnqvvggu" Vjg"oczkowo" pwodgt"qh"TKKu"yjq"ecp"dg"cnnqvvgf" vjg"okpkowo"Dkf"Nqv0"Vjku" ku"
eqorwvgf"d{"fkxkfkpi"vjg"vqvcn"pwodgt"qh"Gswkv{"Ujctgu"cxckncdng"hqt"Cnnqvogpv"vq"TKKu"d{"vjg"okpkowo"Dkf"Nqv"
"
9""""
Vgto" Fguetkrvkqp"
Owvwcn"Hwpf"Rqtvkqp" 7'"qh"vjg"SKD"Ecvgiqt{"*gzenwfkpi"vjg"Cpejqt"Kpxguvqt"Rqtvkqp+"qt"]●_"Gswkv{"Ujctgu"yjkej"ujcnn"dg"cxckncdng"hqt"cnnqecvkqp"vq"Owvwcn"Hwpfu"qpn{."qp"c"rtqrqtvkqpcvg"dcuku."uwdlgev"vq"xcnkf"Dkfu"dgkpi"tgegkxgf"cv"qt"cdqxg"vjg"Qhhgt"Rtkeg"
Pgv"Rtqeggfu" Rtqeggfu"qh"vjg"Qhhgt"vjcv"yknn"dg"cxckncdng"vq"qwt"Eqorcp{."k0g0."itquu"rtqeggfu"qh"vjg"Htguj"Kuuwg."nguu"Qhhgt"Gzrgpugu"vq"vjg"gzvgpv"crrnkecdng"vq"vjg"Htguj"Kuuwg"
Pqp/Kpuvkvwvkqpcn"Ecvgiqt{"
Vjg"rqtvkqp"qh"vjg"Qhhgt."dgkpi"pqv"oqtg"vjcp"37'"qh"vjg"Qhhgt"or [●] Equity Shares, cxckncdng"hqt"cnnqecvkqp"qp"c"rtqrqtvkqpcvg"dcuku"vq"Pqp/Kpuvkvwvkqpcn"Kpxguvqtu"uwdlgev"vq"xcnkf"Dkfu"dgkpi"tgegkxgf"cv"qt"cdqxg"vjg"Qhhgt"Rtkeg"
Pqp/Kpuvkvwvkqpcn"Kpxguvqtu1PKKu"
Cnn"Dkffgtu."kpenwfkpi"Ecvgiqt{"KKK"HRKu"vjcv"ctg"pqv"SKDu"*kpenwfkpi"Cpejqt"Kpxguvqtu+"qt"Tgvckn"Kpfkxkfwcn"Kpxguvqtu"."yjq"jcxg"Dkf"hqt"Gswkv{"Ujctgu"hqt"cp"coqwpv"qh"oqtg"vjcp"` 422.222"*dwv"pqv"kpenwfkpi"PTKu"qvjgt"vjcp"Gnkikdng"PTKu+"
Qhhgt" Rwdnke"kuuwg"qh"wr"vq"[●]"Gswkv{"Ujctgu"qh"hceg"xcnwg"₹32"gcej"hqt"ecuj"cv"c"rtkeg"qh"₹"[●]"gcej"eqortkukpi"vjg"Htguj"Kuuwg"cpf"vjg"Qhhgt"hqt"Ucng"
Qhhgt"Citggogpv" Vjg"citggogpv"fcvgf"Ugrvgodgt"4:."4238"gpvgtgf"kpvq"coqpi"qwt"Eqorcp{."vjg"Ugnnkpi"Ujctgjqnfgtu"cpf"vjg"IEDTNOu"cpf"DTNO."rwtuwcpv"vq"yjkej"egtvckp"cttcpigogpvu"ctg"citggf"vq"kp"tgncvkqp"vq"vjg"Qhhgt"
Qhhgt"hqt"Ucng" Qhhgt"qh"wr" vq"3.;38.963"Gswkv{"Ujctgu" vq"dg"qhhgtgf" hqt"ucng1vtcpuhgt"d{" vjg"Ugnnkpi"Ujctgjqnfgtu"rwtuwcpv" vq" vjg" Qhhgt" kp" vgtou" qh" vjg" Tgf" Jgttkpi" Rtqurgevwu" cpf" vjg"Rtqurgevwu"
Qhhgt"Rtkeg" Vjg"hkpcn"rtkeg"cv"yjkej"Gswkv{"Ujctgu"yknn"dg"Cnnqvvgf"vq"vjg"uweeguuhwn"Dkffgtu"*gzegrv"Cpejqt"Kpxguvqtu+."cu"fgvgtokpgf"kp"ceeqtfcpeg"ykvj"vjg"Dqqm"Dwknfkpi"Rtqeguu"cpf"fgvgtokpgf"d{"qwt"Eqorcp{"cpf"vjg"Kpuvkvwvkqpcn"Ugnnkpi"Ujctgjqnfgtu."kp"eqpuwnvcvkqp"ykvj"vjg"IEDTNOu"cpf"DTNO"kp"vgtou"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"qp"vjg"Rtkekpi"Fcvg0""
Rtkeg"Dcpf" Rtkeg"dcpf"qh"vjg"Hnqqt"Rtkeg"qh"₹"[●] and a Cap Price of ₹"[●], including"cp{"tgxkukqpu"vjgtgqh0"Vjg"Rtkeg"Dcpf"cpf"vjg"okpkowo"Dkf"Nqv"uk|g"hqt"vjg"Qhhgt"yknn"dg"fgekfgf"d{"qwt" Eqorcp{" cpf" vjg" Kpuvkvwvkqpcn" Ugnnkpi" Ujctgjqnfgtu." kp" eqpuwnvcvkqp" ykvj" vjg"IEDTNOu" cpf" DTNO." cpf" cfxgtvkugf" kp" ]●_" gfkvkqpu" of [●], a widely circulated Gpinkuj" pcvkqpcn" fckn{" pgyurcrgt" cpf" ]●_" gfkvkqpu"of [●] (a widely circulated Jkpfk"pcvkqpcn"fckn{"pgyurcrgt."Jkpfk"cnuq"dgkpi"vjg"tgikqpcn"ncpiwcig"kp"vjg"rnceg"yjgtg"qwt"Tgikuvgtgf"cpf"Eqtrqtcvg"Qhhkeg"ku"nqecvgf+"cv"ngcuv"hkxg"Yqtmkpi"Fc{u"rtkqt"vq"vjg"Dkf1Qhhgt"Qrgpkpi"Fcvg."ykvj"vjg"tgngxcpv"hkpcpekcn"tcvkqu"ecnewncvgf"cv"vjg"Hnqqt"Rtkeg"cpf"cv"vjg"Ecr"Rtkeg"cpf"ujcnn"dg"ocfg"cxckncdng"vq"vjg"Uvqem"Gzejcpigu"hqt"vjg"rwtrqug"qh"wrnqcfkpi"qp"vjgkt"ygdukvgu"
Rtkekpi"Fcvg" Vjg" fcvg" qp" yjkej" qwt" Eqorcp{" cpf" vjg" Kpuvkvwvkqpcn" Ugnnkpi" Ujctgjqnfgtu." kp"eqpuwnvcvkqp"ykvj"vjg"IEDTNOu"cpf"DTNO."ujcnn"hkpcnk|g"vjg"Qhhgt"Rtkeg"
Rtqurgevwu" Vjg"Rtqurgevwu"vq"dg"hkngf"ykvj"vjg"TqE"hqt"vjku"Qhhgt"qp"qt"chvgt"vjg"Rtkekpi"Fcvg"kp"ceeqtfcpeg"ykvj"vjg"rtqxkukqpu"qh"Ugevkqp"48"qh"vjg"Eqorcpkgu"Cev"4235"cpf"vjg"UGDK"KEFT"Tgiwncvkqpu."eqpvckpkpi"vjg"Qhhgt"Rtkeg."vjg"uk|g"qh"vjg"Qhhgt"cpf"egtvckp"qvjgt"kphqtocvkqp."kpenwfkpi"cp{"cffgpfc"qt"eqttkigpfc"vjgtgvq"
Rwdnke"Qhhgt"Ceeqwpv" Vjg"ceeqwpv*u+"vq"dg"qrgpgf"ykvj"vjg"Dcpmgt*u+"vq"vjg"Qhhgt"wpfgt"Ugevkqp"62*5+"qh"vjg"Eqorcpkgu"Cev"4235"vq"tgegkxg"oqpkgu"htqo"vjg"Cpejqt"Guetqy"Ceeqwpv*u+"cpf"vjg"CUDC"Ceeqwpvu"qp"vjg"Fgukipcvgf"Fcvg"
SKD"Ecvgiqt{" Vjg"rqtvkqp"qh" vjg"Qhhgt."dgkpi"cv"ngcuv"97'"qh" vjg"Qhhgt"qt"[●]"Gswkv{"Ujctgu"vq"dg"Cnnqvvgf" vq"SKDu"qp"c"rtqrqtvkqpcvg"dcuku." kpenwfkpi" vjg"Cpejqt"Kpxguvqt"Rqtvkqp" *kp"yjkej"cnnqecvkqp"ujcnn"dg"qp"c"fkuetgvkqpct{"dcuku."cu"fgvgtokpgf"d{"qwt"Eqorcp{"cpf"vjg" Kpuvkvwvkqpcn" Ugnnkpi" Ujctgjqnfgtu." kp" eqpuwnvcvkqp" ykvj" vjg" IEDTNOu" cpf"DTNO+."uwdlgev"vq"xcnkf"Dkfu"dgkpi"tgegkxgf"cv"qt"cdqxg"vjg"Qhhgt"Rtkeg"
Swcnkhkgf"Kpuvkvwvkqpcn"Dw{gtu"qt"SKDu"
C"swcnkhkgf"kpuvkvwvkqpcn"dw{gt"cu"fghkpgf"wpfgt"Tgiwncvkqp"4*3+*|f+"qh"vjg"UGDK"KEFT"Tgiwncvkqpu""
Tgf"Jgttkpi"Rtqurgevwu"qt"TJR"
Vjg"tgf"jgttkpi"rtqurgevwu"vq"dg"kuuwgf"kp"ceeqtfcpeg"ykvj"Ugevkqp"54"qh"vjg"Eqorcpkgu"Cev"4235"cpf"vjg"UGDK"KEFT"Tgiwncvkqpu."yjkej"yknn"pqv"jcxg"eqorngvg"rctvkewnctu"qh"vjg"rtkeg"cv"yjkej"vjg"Gswkv{"Ujctgu"ujcnn"dg"Cnnqvvgf"cpf"yjkej"ujcnn"dg"hkngf"ykvj"vjg"TqE"cv" ngcuv" vjtgg"Yqtmkpi" Fc{u"dghqtg" vjg"Dkf1Qhhgt"Qrgpkpi"Fcvg" cpf" yknn"dgeqog"vjg"Rtqurgevwu"chvgt"hknkpi"ykvj"vjg"TqE"chvgt"vjg"Rtkekpi"Fcvg."kpenwfkpi"cp{"cffgpfc"qt"eqttkigpfc"vjgtgvq"
Tghwpf"Ceeqwpv*u+" Ceeqwpv*u+"qrgpgf"ykvj"vjg"Tghwpf"Dcpm"htqo"yjkej"tghwpfu."kh"cp{."qh"vjg"yjqng"qt"rctv"qh"vjg"Dkf"Coqwpv"ujcnn"dg"ocfg"vq"Cpejqt"Kpxguvqtu"
"
:""""
Vgto" Fguetkrvkqp"
Tghwpf"Dcpm*u+" Vjg"Dcpmgtu"vq"vjg"Qhhgt"ykvj"yjqo"vjg"Tghwpf"Ceeqwpv*u+"jcxg"yknn"dg"qrgpgf."kp"this case being [●]"
Tgikuvgtgf"Dtqmgtu" Uvqem"dtqmgtu"tgikuvgtgf"ykvj"vjg"uvqem"gzejcpigu"jcxkpi"pcvkqpykfg"vgtokpcnu."qvjgt"vjcp" vjg"ogodgtu"qh" vjg"U{pfkecvg" cpf" gnkikdng" vq"rtqewtg"Dkfu" kp" vgtou"qh"ektewnct"pwodgt"EKT1EHF13614234"fcvgf"Qevqdgt"36."4234."kuuwgf"d{"UGDK"
Tgikuvtct"Citggogpv" Vjg"citggogpv"fcvgf"Ugrvgodgt"4:."4238."gpvgtgf"kpvq"coqpi"qwt"Eqorcp{"cpf"vjg"Tgikuvtct"vq"vjg"Qhhgt"kp"tgncvkqp"vq"vjg"tgurqpukdknkvkgu"cpf"qdnkicvkqpu"qh"vjg"Tgikuvtct"vq"vjg"Qhhgt"rgtvckpkpi"vq"vjg"Qhhgt"
Tgikuvtct"vq"vjg"Qhhgt" Nkpm"Kpvkog"Kpfkc"Rtkxcvg"Nkokvgf"Tgvckn"Ecvgiqt{" Vjg"rqtvkqp"qh"vjg"Qhhgt."dgkpi"pqv"oqtg"vjcp"32'"qh"vjg"Qhhgt"qt"[●] Equity Shares,
cxckncdng"hqt"cnnqecvkqp"vq"Tgvckn"Kpfkxkfwcn"Kpxguvqtu."yjkej"ujcnn"pqv"dg"nguu"vjcp"vjg"okpkowo"Dkf"nqv."uwdlgev"vq"cxckncdknkv{"kp"vjg"Tgvckn"Ecvgiqt{""
Tgvckn"Kpfkxkfwcn"Kpxguvqtu1"TKKu"
Dkffgtu"*kpenwfkpi"JWHu"cpf"Gnkikdng"PTKu+"yjqug"Dkf"Coqwpv"hqt"Gswkv{"Ujctgu"kp"vjg"Qhhgt"ku"pqv"oqtg"vjcp"̀ "422.222"kp"cp{"qh"vjg"dkffkpi"qrvkqpu"kp"vjg"Qhhgt"*kpenwfkpi"JWHu"crrn{kpi"vjtqwij"vjgkt"mctvc"cpf"Gnkikdng"PTKu"cpf"fqgu"pqv"kpenwfg"PTKu"qvjgt"vjcp"Gnkikdng"PTKu+"
Tgxkukqp"Hqto" Vjg"hqto"wugf"d{"vjg"Dkffgtu"vq"oqfkh{"vjg"swcpvkv{"qh"Gswkv{"Ujctgu"qt"vjg"Dkf"Coqwpv"kp" cp{" qh" vjgkt" Dkf" ewo" Crrnkecvkqp" Hqtou" qt" cp{" rtgxkqwu" Tgxkukqp" Hqto*u+." cu"crrnkecdng0"SKDu"dkffkpi"kp"vjg"SKD"ecvgiqt{"cpf"Pqp/Kpuvkvwvkqpcn"Kpxguvqtu"dkffkpi"kp"vjg"Pqp/Kpuvkvwvkqpcn"ecvgiqt{"ctg"pqv"rgtokvvgf"vq"ykvjftcy"vjgkt"Dkf*u+"qt"nqygt"vjg"uk|g"qh"vjgkt"Dkf*u+"*kp"vgtou"qh"swcpvkv{"qh"Gswkv{"Ujctgu"qt"vjg"Dkf"Coqwpv+"cv"cp{"uvcig"
Ugnh"Egtvkhkgf"U{pfkecvg"Dcpmu"qt"UEUDu"
Vjg"dcpmu"tgikuvgtgf"ykvj"vjg"UGDK"yjkej"qhhgt" vjg"hceknkv{"qh"CUDC"cpf"vjg"nkuv"qh"yjkej" ku" cxckncdng" qp" vjg" ygdukvg" qh" vjg" UGDK"*jvvr<11yyy0ugdk0iqx0kp1ugdkygd1jqog1nkuv1715512121Tgeqipkugf/Kpvgtogfkctkgu+" cpf"wrfcvgf"htqo"vkog"vq"vkog"cpf"cv"uwej"qvjgt"ygdukvgu"cu"oc{"dg"rtguetkdgf"d{"UGDK"htqo"vkog"vq"vkog"
Ujctg"Guetqy"Citggogpv"
Citggogpv"vq"dg"gpvgtgf"kpvq"dgvyggp"vjg"Ugnnkpi"Ujctgjqnfgtu."qwt"Eqorcp{"cpf"c"ujctg"guetqy"cigpv"kp"eqppgevkqp"ykvj"vjg"vtcpuhgt"qh"vjg"tgurgevkxg"rqtvkqp"qh"Qhhgtgf"Ujctgu"d{"gcej"Ugnnkpi"Ujctgjqnfgt"cpf"etgfkv"qh" uwej"Gswkv{"Ujctgu" vq" vjg"fgocv"ceeqwpv"qh"vjg"Cnnqvvggu""
Urgekhkgf"Nqecvkqpu" Dkffkpi"egpvtgu"yjgtg"vjg"U{pfkecvg"ujcnn"ceegrv"Dkf"ewo"Crrnkecvkqp"Hqtou."c"nkuv"qh"yjkej"ku"kpenwfgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"
Uvqem"Gzejcpigu" Eqnngevkxgn{."DUG"Nkokvgf"cpf"Pcvkqpcn"Uvqem"Gzejcpig"qh"Kpfkc"Nkokvgf"U{pfkecvg"Citggogpv" Vjg" citggogpv" fcvgf" ]●_" gpvgtgf" kpvq" coqpiuv" vjg"ogodgtu" qh" vjg" U{pfkecvg." qwt"
Eqorcp{." vjg" Ugnnkpi" Ujctgjqnfgtu" cpf" vjg" Tgikuvtct" vq" vjg" Qhhgt" kp" tgncvkqp" vq" vjg"eqnngevkqp"qh"Dkf"ewo"Crrnkecvkqp"Hqtou"d{"vjg"U{pfkecvg"
U{pfkecvg"Ogodgtu" Kpvgtogfkctkgu" tgikuvgtgf" ykvj" vjg" UGDK" cpf" rgtokvvgf" vq" ectt{" qwv" cevkxkvkgu" cu" cp"wpfgtytkvgt."kp"vjku"ecug"dgkpi"[●]"
U{pfkecvg"qt"ogodgtu"qh"vjg"U{pfkecvg"
Eqnngevkxgn{."vjg"IEDTNOu."DTNO"cpf"vjg"U{pfkecvg"Ogodgtu"
Wpfgtytkvgtu" [●]"Wpfgtytkvkpi"Citggogpv"
Vjg"citggogpv"coqpi"qwt"Eqorcp{."vjg"Ugnnkpi"Ujctgjqnfgtu"cpf"vjg"Wpfgtytkvgtu."vq"dg"gpvgtgf"kpvq"qp"qt"chvgt"vjg"Rtkekpi"Fcvg"
Yqtmkpi"Fc{*u+" Cp{"fc{."qvjgt"vjcp"vjg"ugeqpf"cpf"hqwtvj"Ucvwtfc{u"qh"gcej"ecngpfct"oqpvj."Uwpfc{u"cpf" rwdnke" jqnkfc{u." qp" yjkej" eqoogtekcn" dcpmu" kp" Kpfkc" ctg" qrgp" hqt" dwukpguu."rtqxkfgf"jqygxgt."hqt"vjg"rwtrqug"qh"vjg"vkog"rgtkqf"dgvyggp"vjg"Dkf1Qhhgt"Qrgpkpi"Date and listing of the Equity Shares on the Stock Exchanges, “Working Days”"ujcnn"ogcp"cnn" vtcfkpi"fc{u"gzenwfkpi"Uwpfc{u"cpf"dcpm"jqnkfc{u"kp"Kpfkc"kp"ceeqtfcpeg"ykvj"vjg"UGDK"ektewnct"pq"UGDK1JQ1EHF1FKN1EKT1R14238148"fcvgf"Lcpwct{"43."4238"
"
Eqpxgpvkqpcn"cpf"Igpgtcn"Vgtou"cpf"Cddtgxkcvkqpu"
"Vgto" Fguetkrvkqp"
CKH*u+" Cnvgtpcvkxg"Kpxguvogpv"Hwpfu"CU"3:" Ceeqwpvkpi"Uvcpfctf"3:"kuuwgf"d{"vjg"Kpuvkvwvg"qh"Ejctvgtgf"Ceeqwpvcpvu"qh"Kpfkc""DUG" DUG"Nkokvgf"
"
;""""
Vgto" Fguetkrvkqp"
ECIT" Eqorqwpfgf"Cppwcn"Itqyvj"Tcvg""Ecvgiqt{"KKK"HRKu" HRKu"tgikuvgtgf"cu"ecvgiqt{"KKK"HRKu"wpfgt"vjg"UGDK"HRK"Tgiwncvkqpu."yjkej"ujcnn"kpenwfg"
cnn"qvjgt"HRKu"pqv"gnkikdng"wpfgt"ecvgiqt{" K"cpf" KK" hqtgkip"rqtvhqnkq" kpxguvqtu." uwej"cu"gpfqyogpvu."ejctkvcdng"uqekgvkgu."ejctkvcdng"vtwuvu."hqwpfcvkqpu."eqtrqtcvg"dqfkgu."vtwuvu."kpfkxkfwcnu"cpf"hcokn{"qhhkegu"
EFUN" Egpvtcn"Fgrqukvqt{"Ugtxkegu"*Kpfkc+"Nkokvgf"EKP" Eqtrqtcvg"Kfgpvkv{"Pwodgt"Eqorcpkgu"Cev" Eqorcpkgu"Cev."3;78"*ykvjqwv"tghgtgpeg"vq"vjg"rtqxkukqpu"vjgtgqh"vjcv"jcxg"egcugf"vq"
jcxg"ghhgev"wrqp"pqvkhkecvkqp"qh"vjg"Pqvkhkgf"Ugevkqpu+"cpf"vjg"Eqorcpkgu"Cev."4235."tgcf"ykvj"vjg"twngu."tgiwncvkqpu."enctkhkecvkqpu"cpf"oqfkhkecvkqpu"vjgtgwpfgt"
Eqorcpkgu"Cev"3;78" Eqorcpkgu"Cev."3;78"*ykvjqwv"tghgtgpeg"vq"vjg"rtqxkukqpu"vjgtgqh"vjcv"jcxg"egcugf"vq"jcxg"ghhgev"wrqp"pqvkhkecvkqp"qh"vjg"Pqvkhkgf"Ugevkqpu+"
Eqorcpkgu"Cev"4235" Eqorcpkgu"Cev."4235."vq"vjg"gzvgpv"kp"hqteg"rwtuwcpv"vq"vjg"pqvkhkecvkqp"qh"vjg"Pqvkhkgf"Ugevkqpu."tgcf"ykvj"vjg"twngu."tgiwncvkqpu."enctkhkecvkqpu"cpf"oqfkhkecvkqpu"vjgtgwpfgt"
Eqpuqnkfcvgf"HFK"Rqnke{"
Vjg"eqpuqnkfcvgf"HFK"Rqnke{."ghhgevkxg"htqo"Lwpg"9."4238."kuuwgf"d{"vjg"Fgrctvogpv"qh"Kpfwuvtkcn"Rqnke{"cpf"Rtqoqvkqp."Okpkuvt{"qh"Eqoogteg"cpf"Kpfwuvt{."Iqxgtpogpv"qh"Kpfkc."cpf"cp{"oqfkhkecvkqpu"vjgtgvq"qt"uwduvkvwvkqpu"vjgtgqh."kuuwgf"htqo"vkog"vq"vkog"
Eqr{tkijv"Cev" Eqr{tkijv"Cev."3;79"Fgrqukvqt{" C"fgrqukvqt{"tgikuvgtgf"ykvj"vjg"UGDK"wpfgt"vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"
*Fgrqukvqtkgu"cpf"Rctvkekrcpvu+"Tgiwncvkqpu."3;;8"Fgrqukvqtkgu"Cev"" Vjg"Fgrqukvqtkgu"Cev."3;;8"Fgukipu"Cev" Fgukipu"Cev."4222"FKRR" Fgrctvogpv"qh"Kpfwuvtkcn"Rqnke{"cpf"Rtqoqvkqp."Okpkuvt{"qh"Eqoogteg"cpf"Kpfwuvt{."
IqK"FR"KF" Depository Participant’s kfgpvkv{"pwodgt"GDKVFC" Gctpkpiu"Dghqtg"Kpvgtguv."Vcz."Fgrtgekcvkqp"cpf"Coqtvk|cvkqp""GRH"Cev" Employees’ Provident Fund and Miscellaneous Provisions Act, 1952"GRU" Gctpkpiu"rgt"ujctg"GUK"Cev" Gornq{ges’ State Insurance Act, 1948 "Gwtq" Gwtq."vjg"qhhkekcn"ukping"ewttgpe{"qh"vjg"rctvkekrcvkpi"ogodgt"uvcvgu"qh"vjg"Gwtqrgcp"
Geqpqoke"cpf"Oqpgvct{"Wpkqp"qh"vjg"Vtgcv{"guvcdnkujkpi"vjg"Gwtqrgcp"Eqoowpkv{"Hcevqtkgu"Cev" Hcevqtkgu"Cev."3;6:""HEPT"Ceeqwpv" Hqtgkip" Ewttgpe{" Pqp" Tgukfgpv" *Dcpm+" ceeqwpv" guvcdnkujgf" kp" ceeqtfcpeg" ykvj" vjg"
HGOC"HFK" Hqtgkip"fktgev"kpxguvogpv"HGOC" Vjg"Hqtgkip"Gzejcpig"Ocpcigogpv"Cev."3;;;"tgcf"ykvj"twngu"cpf"tgiwncvkqpu"vjgtgwpfgt"HKK*u+" Hqtgkip"Kpuvkvwvkqpcn"Kpxguvqtu"cu"fghkpgf"wpfgt"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"
*Hqtgkip" Kpuvkvwvkqpcn" Kpxguvqtu+" Tgiwncvkqpu." 4222." tgikuvgtgf" ykvj" vjg" UGDK" wpfgt"crrnkecdng"ncyu"kp"Kpfkc"cpf"fggogf"cu"HRKu"wpfgt"vjg"UGDK"HRK"Tgiwncvkqpu"
Hkpcpekcn"[gct1Hkuecn1"Hkuecn"[gct"
Vjg"rgtkqf"qh"34"oqpvju"eqoogpekpi"qp"Crtkn"3"qh"vjg"koogfkcvgn{"rtgegfkpi"ecngpfct"{gct"cpf"gpfkpi"qp"Octej"53"qh"vjcv"rctvkewnct"ecngpfct"{gct"
HRKu" C" hqtgkip" rqtvhqnkq" kpxguvqt" yjq" jcu" dggp" tgikuvgtgf" rwtuwcpv" vq" vjg" UGDK" HRK"Tgiwncvkqpu."rtqxkfgf"vjcv"cp{"HKK"yjq"jqnfu"c"xcnkf"egtvkhkecvg"qh"tgikuvtcvkqp"ujcnn"dg"fggogf"vq"dg"cp"HRK"wpvkn"vjg"gzrkt{"qh"vjg"dnqem"qh"vjtgg"{gctu"hqt"yjkej"hggu"jcxg"dggp"rckf" cu"rgt" vjg" Ugewtkvkgu" cpf" Gzejcpig" Dqctf" qh" Kpfkc" *Hqtgkip" Kpuvkvwvkqpcn"Kpxguvqtu+"Tgiwncvkqpu."3;;7"
Htquv"("Uwnnkxcp" Htquv"("Uwnnkxcp"*Kpfkc+"Rtkxcvg"Nkokvgf"HXEK"" Hqtgkip"Xgpvwtg"Ecrkvcn"Kpxguvqtu"*cu"fghkpgf"wpfgt"vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"
qh"Kpfkc"*Hqtgkip"Xgpvwtg"Ecrkvcn"Kpxguvqtu+"Tgiwncvkqpu."4222+"tgikuvgtgf"ykvj"UGDK"ICCT" Igpgtcn"Cpvk/Cxqkfcpeg"Twngu"IFR" Itquu"Fqoguvke"Rtqfwev"IqK" Vjg"Iqxgtpogpv"qh"Kpfkc"IUV" Iqqfu"cpf"ugtxkegu"vcz"JWH*u+" Jkpfw"Wpfkxkfgf"Hcokn{*kgu+"KCU"Twngu" Eqorcpkgu"*Kpfkcp"Ceeqwpvkpi"Uvcpfctfu+"Twngu."4237"KECK" Kpuvkvwvg"qh"Ejctvgtgf"Ceeqwpvcpvu"qh"Kpfkc"
"
32""""
Vgto" Fguetkrvkqp"
KHTU" Kpvgtpcvkqpcn"Hkpcpekcn"Tgrqtvkpi"Uvcpfctfu"KHUE" Kpfkcp"Hkpcpekcn"U{uvgo"Eqfg"Kpeqog"Vcz"Cev" Kpeqog"Vcz"Cev."3;83"Kpf*CU+" Vjg" Kpfkcp" Ceeqwpvkpi" Uvcpfctfu" tghgttgf" vq" kp" vjg" Eqorcpkgu" *Kpfkcp" Ceeqwpvkpi"
Uvcpfctf+"Twngu."4237."cu"cogpfgf"Kpfkcp"ICCR" Igpgtcnn{"Ceegrvgf"Ceeqwpvkpi"Rtkpekrngu"kp"Kpfkc"KPT"qt"Twrgg"qt"₹"qt"Tu0""
Kpfkcp"Twrgg."vjg"qhhkekcn"ewttgpe{"qh"vjg"Tgrwdnke"qh"Kpfkc"
KV" Kphqtocvkqp"Vgejpqnqi{"Ngicn"Ogvtqnqi{"Cev" Ngicn"Ogvtqnqi{"Cev."422;"OEC" Vjg"Okpkuvt{"qh"Eqtrqtcvg"Chhcktu."IqK"Op" Oknnkqp""Owvwcn"Hwpfu" Owvwcn"hwpfu"tgikuvgtgf"ykvj"vjg"UGDK"wpfgt"vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"
*Owvwcn"Hwpfu+"Tgiwncvkqpu."3;;8"Pqvkhkgf"Ugevkqpu" Vjg"ugevkqpu"qh"vjg"Eqorcpkgu"Cev."4235"vjcv"jcxg"dggp"pqvkhkgf"d{"vjg"OEC"cpf"ctg"
ewttgpvn{"kp"ghhgev"PT1"Pqp/tgukfgpv" C"rgtuqp"tgukfgpv"qwvukfg"Kpfkc."cu"fghkpgf"wpfgt"vjg"HGOC"cpf"kpenwfgu"cp"PTK"PTK" Pqp/Tgukfgpv"Kpfkcp"PUFN"" Pcvkqpcn"Ugewtkvkgu"Fgrqukvqt{"Nkokvgf"PUG" Vjg"Pcvkqpcn"Uvqem"Gzejcpig"qh"Kpfkc"Nkokvgf"R1G"Tcvkq" Rtkeg1Gctpkpiu"Tcvkq"RCP" Rgtocpgpv"ceeqwpv"pwodgt"RCV" Rtqhkv"chvgt"vcz"Rc{ogpv"qh"Dqpwu"Cev" Rc{ogpv"qh"Dqpwu"Cev."3;87"Rc{ogpv"qh"Itcvwkv{"Cev"
Rc{ogpv"qh"Itcvwkv{"Cev."3;94"
TDK" Vjg"Tgugtxg"Dcpm"qh"Kpfkc"Tgiwncvkqp"U" Tgiwncvkqp"U"wpfgt"vjg"W0U0"Ugewtkvkgu"Cev."3;55"TqE"qt"Tgikuvtct"qh"Eqorcpkgu"
Vjg"Tgikuvtct"qh"Eqorcpkgu."Pcvkqpcn"Ecrkvcn"Vgttkvqt{"qh"Fgnjk"cpf"Jct{cpc"
UETC" Ugewtkvkgu"Eqpvtcev"*Tgiwncvkqp+"Cev."3;78"UETT" Vjg"Ugewtkvkgu"Eqpvtcevu"*Tgiwncvkqp+"Twngu."3;79"UGDK" Vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"eqpuvkvwvgf"wpfgt"vjg"UGDK"Cev"UGDK"Cev" Vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"Cev."3;;4"UGDK"KEFT"Tgiwncvkqpu"
Vjg" Ugewtkvkgu" cpf" Gzejcpig" Dqctf" qh" Kpfkc" *Kuuwg" qh" Ecrkvcn" cpf" Fkuenquwtg"Tgswktgogpvu+"Tgiwncvkqpu."422;"
UGDK"HRK"Tgiwncvkqpu" Ugewtkvkgu" cpf" Gzejcpig" Dqctf" qh" Kpfkc" *Hqtgkip" Rqtvhqnkq" Kpxguvqtu+" Tgiwncvkqpu."4236"
UGDK"HXEK"Tgiwncvkqpu""
Ugewtkvkgu" cpf" Gzejcpig" Dqctf" qh" Kpfkc" *Hqtgkip" Xgpvwtg" Ecrkvcn" Kpxguvqtu+"Tgiwncvkqpu."4222"
UGDK"Nkuvkpi"Tgiwncvkqpu""
UGDK"*Nkuvkpi"Qdnkicvkqpu"cpf"Fkuenquwtg"Tgswktgogpvu+"Tgiwncvkqpu."4237"
UVV" Ugewtkvkgu"Vtcpucevkqp"Vcz"Vcmgqxgt"Tgiwncvkqpu" Vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh" Kpfkc" *Uwduvcpvkcn"Ceswkukvkqp"qh"Ujctgu"cpf"
Vcmgqxgtu+"Tgiwncvkqpu."4233"Vtcfgoctmu"Cev" Vtcfgoctmu"Cev."3;;;"WU&1"WUF1"WU"Fqnnct" Wpkvgf"Uvcvgu"Fqnnct."vjg"qhhkekcn"ewttgpe{"qh"vjg"Wpkvgf"Uvcvgu"qh"Cogtkec"WUC1"W0U01"WU" Wpkvgf"Uvcvgu"qh"Cogtkec."kvu"vgttkvqtkgu"cpf"rquuguukqpu."cp{"uvcvg"qh"vjg"Wpkvgf"Uvcvgu"qh"
Cogtkec"cpf"vjg"Fkuvtkev"qh"Eqnwodkc""W0U0"ICCR" Igpgtcnn{"Ceegrvgf"Ceeqwpvkpi"Rtkpekrngu"kp"vjg"Wpkvgf"Uvcvg"qh"Cogtkec""XCV" Xcnwg"Cffgf"Vcz"XEHu" Xgpvwtg"ecrkvcn"hwpfu"cu"fghkpgf"kp"cpf"tgikuvgtgf"ykvj"vjg"UGDK"wpfgt"vjg"Ugewtkvkgu"cpf"
Gzejcpig"Dqctf"qh"Kpfkc"*Xgpvwtg"Ecrkvcn"Hwpf+"Tgiwncvkqpu."3;;8"qt"vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"*Cnvgtpcvkxg"Kpxguvogpv"Hwpfu+"Tgiwncvkqpu."4234."cu"vjg"ecug"oc{"dg"
"
"
33""""
Kpfwuvt{"Tgncvgf"Vgtou"""
Vgto" Fguetkrvkqp"
CSN" Ceegrvgf"Swcnkv{"Ngxgnu""ETO" Ewuvqogt"Tgeqtf"Ocpcigogpv""GDQu" Gzenwukxg"Dtcpf"Qwvngvu""WJPJ" Wnvtc/jkij"pgv"yqtvj"jqwugjqnfu""WJPK" Wnvtc/jkij"pgv"yqtvj"kpfkxkfwcn""JPJ" Jkij"pgv/yqtvj"jqwugjqnfu""
"Vjg"yqtfu"cpf"gzrtguukqpu"wugf"dwv"pqv"fghkpgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"yknn"jcxg"vjg"ucog"ogcpkpi"cu"cuukipgf"vq"uwej"vgtou"wpfgt"vjg"Eqorcpkgu"Cev"3;78."cu"uwrgtugfgf"cpf"uwduvkvwvgf"d{"pqvkhkgf"rtqxkukqpu"qh"vjg"Eqorcpkgu"Cev"4235"*vqigvjgt"vjg"“Eqorcpkgu"Cev”)."vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"Cev."3;;4"(“UGDK"Cev”)."vjg"UGDK"KEFT"Tgiwncvkqpu."vjg"UETC."vjg"Fgrqukvqtkgu"Cev"cpf"vjg"twngu"cpf"tgiwncvkqpu"ocfg"vjgtgwpfgt0"""Notwithstanding the foregoing, terms in “Ockp"Rtqxkukqpu"qh"vjg"Ctvkengu"qh"Cuuqekcvkqp”, “Uvcvgogpv"qh"Vcz"Dgpghkvu”, “Kpfwuvt{"Qxgtxkgy”, “Tgiwncvkqpu"cpf"Rqnkekgu"kp"Kpfkc”, “Hkpcpekcn"Kphqtocvkqp”."“Qwvuvcpfkpi"Nkvkicvkqp"cpf"Ocvgtkcn"Fgxgnqrogpvu”"and “Rctv"D” of “Qhhgt"Rtqegfwtg”."yknn"jcxg"vjg"ogcpkpi"cuetkdgf"vq"uwej"vgtou"kp"vjgug"tgurgevkxg"ugevkqpu0"
"
34""""
EGTVCKP"EQPXGPVKQPU."WUG"QH"HKPCPEKCN"KPHQTOCVKQP"CPF"OCTMGV"FCVC"CPF"
EWTTGPE["QH"RTGUGPVCVKQP""
"
Egtvckp"Eqpxgpvkqpu"
"Cnn"tghgtgpegu"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"vq"“India”"ctg"vq"vjg"Tgrwdnke"qh"Kpfkc0"""
Hkpcpekcn"Fcvc""Wpnguu"kpfkecvgf"qvjgtykug."vjg"hkpcpekcn"fcvc"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ku"fgtkxgf"htqo"qwt" tguvcvgf"eqpuqnkfcvgf"hkpcpekcn"kphqtocvkqp"cpf"tguvcvgf"uvcpfcnqpg"hkpcpekcn"kphqtocvkqp"cu"qh"cpf"hqt"vjg"Hkuecnu"gpfgf"Octej"53."4238."4237."4236."4235"cpf"4234"cpf"vjg"tgurgevkxg"pqvgu."uejgfwngu"cpf"cppgzwtgu"vjgtgvq."rtgrctgf"kp" ceeqtfcpeg" ykvj" vjg" Igpgtcnn{" Ceegrvgf" Ceeqwpvkpi" Rtkpekrngu" kp" Kpfkc" *vjg" “Kpfkcp" ICCR”) and the Eqorcpkgu"Cev"cpf"tguvcvgf"kp"ceeqtfcpeg"ykvj"vjg"UGDK"KEFT"Tgiwncvkqpu"cpf"kpenwfgf"gnugyjgtg"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""Egtvckp"fcvc"kpenwfgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"kp"tgncvkqp"vq"egtvckp"qrgtcvkpi"ogvtkeu."hkpcpekcn"cpf"qvjgt"dwukpguu"tgncvgf"kphqtocvkqp"pqv"qvjgtykug"kpenwfgf"kp"vjg"tguvcvgf"hkpcpekcn"kphqtocvkqp"jcu"dggp"tgxkgygf"cpf"xgtkhkgf"d{"Pc{{ct"Ocpkct"("Cuuqekcvgu"NNR"qt"FOTP"("Cuuqekcvgu." vjktf/rctv{"ejctvgtgf"ceeqwpvcpvu0"Hwtvjgt."vjg"uvcvgogpv"qh"vcz"dgpghkvu"jcu"dggp"tgxkgygf."egtvkhkgf"cpf"xgtkhkgf"d{"Clc{"Ycfjyc"cpf"Cuuqekcvgu."Ejctvgtgf"Ceeqwpvcpvu0""In this Draft Red Herring Prospectus, references to “revenue from Owned Brands” includes, in addition to tgxgpwgu" htqo"Ucv{c"Rcwn"cpf"Dy#vej." tgxgpwgu" htqo"rtkxcvg/ncdgn"eqpvtcev"ocpwhcevwtkpi"cpf"fkuvtkdwvkqp" hqt"egtvckp"vjktf/rctv{"dtcpfu."uqog"qh"yjkej"yg"jcxg"egcugf"vq"ocpwhcevwtg1fkuvtkdwvg"gkvjgt"dghqtg"qt"ykvj"ghhgev"htqo"Crtkn"3."4238."cu"crrnkecdng0"Hwtvjgt." kp" vjku"Ftchv"Tgf"Jgttkpi"Prospectus, references to “revenue from International Brands” means revenues from the distribution and sale of such international luxury and premium dtcpfu"cu"ctg"rctv"qh"qwt"rqtvhqnkq"htqo"vkog"vq"vkog."kp"tgurgev"qh"yjkej"yg"jcxg"fkuvtkdwvkqp"tkijvu"kp"Kpfkc0"Cu"qh"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."yg"jcxg"vjg"tkijvu"vq"fkuvtkdwvg"38"uwej"kpvgtpcvkqpcn"dtcpfu."cu"fguetkdgf"kp"oqtg"fgvckn"in “Qwt"Dwukpguu” on page 3260"""Qwt"Company’s hkpcpekcn"{gct"eqoogpegu"qp"Crtkn"3"qh"vjg"koogfkcvgn{"rtgegfkpi"ecngpfct"{gct"cpf"gpfu"qp"Octej"53"qh"vjcv"rctvkewnct"ecngpfct"{gct."uq"cnn"tghgtgpegu"vq"c"rctvkewnct"hkpcpekcn"{gct"ctg"vq"vjg"34"oqpvj"rgtkqf"eqoogpekpi"qp"Crtkn"3"qh"vjg"koogfkcvgn{"rtgegfkpi"ecngpfct"{gct"cpf"gpfkpi"qp"Octej"53"qh"vjcv"rctvkewnct"ecngpfct"{gct0"""Vjgtg"ctg"ukipkhkecpv"fkhhgtgpegu"dgvyggp"vjg"Kpfkcp"ICCR."vjg"Kpvgtpcvkqpcn"Hkpcpekcn"Tgrqtvkpi"Uvcpfctfu"*vjg"“KHTU”) and the Generally Accepted Accounting Principles in the United States of America (vjg"“W0U0"ICCR”). Ceeqtfkpin{."vjg"fgitgg"vq"yjkej"vjg"hkpcpekcn" kphqtocvkqp"kpenwfgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"yknn"provide meaningful information is entirely dependent on the reader’s level of familiarity with Indian accounting rtcevkegu0"Cp{"tgnkcpeg"d{"rgtuqpu"pqv"hcoknkct"ykvj"Kpfkcp"ceeqwpvkpi"rtcevkegu."vjg"Kpfkcp"ICCR."vjg"Eqorcpkgu"Cev"cpf"vjg"UGDK"KEFT"Tgiwncvkqpu"qp"vjg"hkpcpekcn"fkuenquwtgu"rtgugpvgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ujqwnf"ceeqtfkpin{"dg"nkokvgf0"Yg"jcxg"pqv"cvvgorvgf"vq"swcpvkh{"vjg"korcev"qh"vjg"KHTU"qt"vjg"W0U0"ICCR"qp"vjg"hkpcpekcn"fcvc"kpenwfgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."pqt"fq"yg"rtqxkfg"c"tgeqpeknkcvkqp"qh"qwt"hkpcpekcn"kphqtocvkqp"vq"vjqug"wpfgt"vjg"W0U0"ICCR"qt"vjg"KHTU"cpf"yg"wtig"{qw"vq"eqpuwnv"{qwt"qyp"cfxkuqtu"tgictfkpi"uwej"fkhhgtgpegu"cpf"vjgkt"korcev"qp"qwt"hkpcpekcn"fcvc0"""Qp"Hgdtwct{"38."4237."vjg"Okpkuvt{"qh"Eqtrqtcvg"Chhcktu"kuuwgf"vjg"Eqorcpkgu"*Kpfkcp"Ceeqwpvkpi"Uvcpfctfu+"Rules, 2015 (“KCU"Twngu”) for the purpose of enacting changes to Indian GAAP that are intended vq"cnkip"Kpfkcp"ICCR"hwtvjgt"ykvj"KHTU0"Vjg"KCU"Twngu"rtqxkfg"vjcv"vjg"hkpcpekcn"kphqtocvkqp"qh"vjg"eqorcpkgu"vq"yjkej"vjg{"crrn{"ujcnn"dg"rtgrctgf"cpf"cwfkvgf"kp"ceeqtfcpeg"ykvj"the Indian Accounting Standard (“KPF"*CU+”)."cnvjqwij"cp{"eqorcp{"oc{"xqnwpvctkn{"korngogpv"KPF"*CU+"hqt"vjg"ceeqwpvkpi"rgtkqf"dgikppkpi"htqo"Crtkn"3."42370""
Yg"jcxg"pqv"ocfg"cp{"cvvgorv"vq"swcpvkh{"qt"kfgpvkh{"vjg"korcev"qh"vjg"fkhhgtgpegu"dgvyggp"Kpfkcp"ICCR"cpf"KPF"*CU+"cu"crrnkgf"vq"qwt"hkpcpekcn"kphqtocvkqp"cpf"kv"ku"wtigf"vjcv"{qw"eqpuwnv"{qwt"qyp"cfxkuqtu"tgictfkpi"vjg"korcev"qh"fkhhgtgpeg."kh"cp{."qp"hkpcpekcn"fcvc"kpenwfgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"See “Tkum"Hcevqtu"–"Ukipkhkecpv"fkhhgtgpegu"gzkuv"dgvyggp"Kpfkcp"ICCR"cpf"qvjgt"ceeqwpvkpi"rtkpekrngu."uwej"cu"vjg"Kpvgtpcvkqpcn"Financial Reporting Standards (“IFRS”) and U.S. GAAP, which may be material to investors’ assessment of
"
35""""
qwt"hkpcpekcn"eqpfkvkqp0"Qwt"hcknwtg"vq"uweeguuhwnn{"cfqrv"KPF"*CU+"oc{"jcxg"cp"cfxgtug"ghhgev"qp"vjg"rtkeg"qh"qwt"Gswkv{"Ujctgu” on page 560""Egtvckp"hkiwtgu"eqpvckpgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."kpenwfkpi"hkpcpekcn"kphqtocvkqp."jcxg"dggp"uwdlgev"vq"tqwpfkpi"cflwuvogpvu0"Cnn"fgekocnu"jcxg"dggp"tqwpfgf"qhh"vq"vyq"fgekocn"rqkpvu0"Kp"egtvckp"kpuvcpegu."*k+"vjg"uwo"qt"rgtegpvcig"ejcpig"qh"uwej"pwodgtu"oc{"pqv"eqphqto"gzcevn{"vq"vjg"vqvcn"hkiwtg"ikxgp="cpf"*kk+"vjg"uwo"qh"vjg"pwodgtu"kp"c"eqnwop"qt"tqy"kp"egtvckp"vcdngu"oc{"pqv"eqphqto"gzcevn{"vq"vjg"vqvcn"hkiwtg"ikxgp"hqt"vjcv"eqnwop"qt"tqy0"Jqygxgt."yjgtg"cp{"hkiwtgu"vjcv"oc{"jcxg"dggp"uqwtegf"htqo"vjktf/rctv{"kpfwuvt{"uqwtegu"ctg"tqwpfgf"qhh" vq"qvjgt"vjcp"vyq"fgekocn"rqkpvu"kp"vjgkt"tgurgevkxg"uqwtegu."uwej"hkiwtgu"crrgct"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"cu"tqwpfgf/qhh"vq"uwej"pwodgt"qh"fgekocn"rqkpvu"cu"rtqxkfgf"kp"uwej"tgurgevkxg"uqwtegu0""
Kpfwuvt{"cpf"Octmgv"Fcvc"""
We have commissioned a report titled “Cuuguuogpv"qp"Kpfkcp"Nwzwt{"Iqqfu"Kpfwuvt{” dated Ugrvgodgt"37."4238."rtgrctgf"d{"Htquv"cpf"Uwnnkxcp"*Kpfkc+"Rtkxcvg"Nkokvgf."hqt"vjg"rwtrqug"qh"eqphktokpi"qwt"wpfgtuvcpfkpi"qh"vjg"kpfwuvt{"kp"eqppgevkqp"ykvj"vjg"Qhhgt0"Hwtvjgt."kp"vjku"tgictf."Htquv"cpf"Uwnnkxcp"*Kpfkc+"Rtkxcvg"Nkokvgf"jcu"kuuwgf"vjg"hqnnqykpi"fkuenckogt<"""“Vjg" octmgv" tgugctej" ogvjqf" hqt" vjku" uvwf{" jcu" dggp" wpfgtvcmgp" vjtqwij" fgvckngf" rtkoct{" cpf" ugeqpfct{"tgugctej."yjkej"kpxqnxgu"fkuewuukpi"vjg"uvcvwu"qh"vjg"kpfwuvt{"ykvj"ngcfkpi"kpfwuvt{"rctvkekrcpvu"cpf"gzrgtvu."cpf"eqorknkpi" kprwvu" htqo" rwdnken{" cxckncdng" uqwtegu." kpenwfkpi" qhhkekcn" rwdnkecvkqpu" cpf" tgugctej" tgrqtvu0"Swcpvkvcvkxg" octmgv" kphqtocvkqp" ku" dcugf" rtkoctkn{" qp" uwej" kpvgtxkgyu" cpf" fgum/dcugf" ugeqpfct{" tgugctej="vjgtghqtg."ocmkpi"kv"uwdlgev"vq"hnwevwcvkqp0""Htquv"("Uwnnkxcp"*K+"Rtkxcvg"Nkokvgf"jcu"vcmgp"cnn"tgcuqpcdng"ectg"vq"gpuwtg"vjcv"vjg"kphqtocvkqp"eqpvckpgf"kp"vjku"tgrqtv"ku."vq"vjg"dguv"qh"kvu"mpqyngfig."kp"ceeqtfcpeg"ykvj"vjg"hcevu"cpf"eqpvckpu"pq"qokuukqp"nkmgn{"vq"chhgev"kvu"korqtv0"" This Frost & Sullivan (I) Private Limited report is prepared for our client’s internal use, submission, and sharing ykvj"vjg"tgngxcpv"rctvkgu"cu"ygnn"cu"hqt"kpenwukqp"kp"vjg"ftchv"tgf"jgttkpi"rtqurgevwu."vjg"tgf"jgttkpi"rtqurgevwu."cpf"vjg"rtqurgevwu"qh"Igpguku"Eqnqtu"Nkokvgf"*jgtgkp"Igpguku"Eqnqtu+0”""Cukfg"htqo"vjg"cdqxg."wpnguu"uvcvgf"qvjgtykug."kpfwuvt{"cpf"octmgv"fcvc"wugf"vjtqwijqwv"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu" jcu" dggp" fgtkxgf" htqo" egtvckp" kpfwuvt{" uqwtegu0" Kpfwuvt{" rwdnkecvkqpu" igpgtcnn{" uvcvg" vjcv" vjg"kphqtocvkqp"eqpvckpgf"kp"uwej"rwdnkecvkqpu"jcu"dggp"qdvckpgf"htqo"uqwtegu"igpgtcnn{"dgnkgxgf"vq"dg"tgnkcdng."dwv"vjgkt" ceewtce{." cfgswce{"qt"eqorngvgpguu" cpf"wpfgtn{kpi" cuuworvkqpu" ctg" pqv" iwctcpvggf" cpf" vjgkt" tgnkcdknkv{"ecppqv"dg"cuuwtgf0"Ceeqtfkpin{."pq"kpxguvogpv"fgekukqpu"ujqwnf"dg"ocfg"dcugf"qp"uwej"kphqtocvkqp0"Cnvjqwij"yg"dgnkgxg"vjcv"vjg"kpfwuvt{"cpf"octmgv"fcvc"wugf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ku"tgnkcdng."kv"jcu"pqv"dggp"kpfgrgpfgpvn{" xgtkhkgf" d{"wu." vjg" Ugnnkpi" Ujctgjqnfgtu." vjg" IEDTNOu" cpf" DTNO." qt" cp{" qh" qwt" qt" vjgkt"tgurgevkxg"chhknkcvgu"qt"cfxkuqtu."cpf"pqpg"qh" vjgug"rctvkgu"ocmgu"cp{"tgrtgugpvcvkqp"cu" vq" vjg"ceewtce{"qh" vjku"kphqtocvkqp0"Vjg"fcvc"wugf"kp"vjgug"uqwtegu"oc{"jcxg"dggp"tgencuukhkgf"d{"wu"hqt"vjg"rwtrqugu"qh"rtgugpvcvkqp0"Fcvc"htqo"vjgug"uqwtegu"oc{"cnuq"pqv"dg"eqorctcdng0"Vjg"gzvgpv"vq"yjkej"vjg"kpfwuvt{"cpf"octmgv"fcvc"rtgugpvgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ku"meaningful depends upon the reader’s familiarity with and understanding qh" vjg"ogvjqfqnqikgu"wugf" kp"eqorknkpi"uwej"fcvc0"Vjgtg"ctg"pq"uvcpfctf"fcvc"icvjgtkpi"ogvjqfqnqikgu" kp" vjg"kpfwuvt{"kp"yjkej"yg"eqpfwev"qwt"dwukpguu"cpf"ogvjqfqnqikgu"cpf"cuuworvkqpu"oc{"xct{"ykfgn{"coqpi"fkhhgtgpv"octmgv"cpf"kpfwuvt{"uqwtegu0"""Uwej" fcvc" kpxqnxgu" tkumu." wpegtvckpvkgu" cpf" pwogtqwu" cuuworvkqpu" cpf" ku" uwdlgev" vq" ejcpig"dcugf" qp" xctkqwu"factors, including those discussed in “Tkum"Hcevqtu” on page 380"""Ewttgpe{"cpf"Wpkvu"qh"Rtgugpvcvkqp"""
All references to “Twrggu” or “₹” or “Tu0” are to Indian Rupees, the official currency of the Republic of India. All references to “WU&”, “W0U0" Fqnnct”, “WUF” or “W0U0" Fqnnctu” are to United States Dollars, the official ewttgpe{"qh"vjg"Wpkvgf"Uvcvgu"qh"Cogtkec0"All reference to “Gwt” or"“€” is to Gwtq."vjg"qhhkekcn"ewttgpe{"qh"vjg"Gwtqrgcp"Wpkqp0"All references to “CGF” is to United Arab Emirates Dirham, the official currency of Wpkvgf"Ctcd"Goktcvgu"(“WCG”)0"All reference to “IDR” is to the Great Britain Pound, the official currency of Gtgcv"Dtkvckp0""
"
36""""
Kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."qwt"Eqorcp{"jcu"rtgugpvgf"egtvckp"pwogtkecn"kphqtocvkqp0"Cnn"hkiwtgu"jcxg"been expressed in millions. One million represents ‘10 lakhs’ or 1,000,000. However, where any figures that may jcxg"dggp"uqwtegf"htqo"vjktf/rctv{"kpfwuvt{"uqwtegu"ctg"gzrtguugf"kp"fgpqokpcvkqpu"qvjgt"vjcp"oknnkqpu"kp"vjgkt"tgurgevkxg"uqwtegu."uwej"hkiwtgu"crrgct"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"gzrtguugf"kp"uwej"fgpqokpcvkqpu"cu"rtqxkfgf"kp"uwej"tgurgevkxg"uqwtegu0""
Gzejcpig"Tcvgu"
"Vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"eqpvckpu"eqpxgtukqpu"qh"W0U0"Fqnnctu"cpf"qvjgt"ewttgpe{"coqwpvu"kpvq"Kpfkcp"Twrggu"vjcv"jcxg"dggp"rtgugpvgf"uqngn{"vq"eqorn{"ykvj"vjg"tgswktgogpvu"qh"vjg"UGDK"KEFT"Tgiwncvkqpu0"Vjgug"eqpxgtukqpu"ujqwnf"pqv"dg"eqpuvtwgf"cu"c"tgrtgugpvcvkqp"vjcv"uwej"ewttgpe{"coqwpvu"eqwnf"jcxg"dggp."qt"ecp"dg"eqpxgtvgf"kpvq"Kpfkcp"Twrggu."cv"cp{"rctvkewnct"tcvg."qt"cv"cnn0""Vjg"gzejcpig"tcvgu"qh"egtvckp"ewttgpekgu"wugf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"kpvq"Kpfkcp"Twrggu"ctg"rtqxkfgf"dgnqy0""
"*kp"`+"
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"
37""""
HQTYCTF/NQQMKPI"UVCVGOGPVU"
"Vjku" Ftchv" Red Herring Prospectus contains certain “forward/looking statements”. These forward looking uvcvgogpvu"kpenwfg"uvcvgogpvu"yjkej"ecp"igpgtcnn{"dg"kfgpvkhkgf"d{"yqtfu"qt"rjtcugu"uwej"cu"“cko”, “cpvkekrcvg”, “dgnkgxg”, “gzrgev”, “guvkocvg”, “kpvgpf”."“nkmgn{"vq”, “qdlgevkxg”, “rncp”, “rtqrqug”, “yknn"eqpvkpwg”, “uggm"vq”, “yknn"rwtuwg” or other words or phrases of similar import0"""
Vjgug"hqtyctf/nqqmkpi"uvcvgogpvu"ctg"dcugf"qp"qwt"ewttgpv"rncpu."guvkocvgu"cpf"gzrgevcvkqpu"cpf"cevwcn"tguwnvu"oc{"fkhhgt"ocvgtkcnn{"htqo"vjqug"uwiiguvgf"d{"uwej"hqtyctf/nqqmkpi"uvcvgogpvu0"Cnn"hqtyctf/nqqmkpi"uvcvgogpvu"ctg"uwdlgev"vq"tkumu."wpegtvckpvkgu"cpf"cuuworvkqpu"cdqwv"wu"vjcv"eqwnf"ecwug"cevwcn"tguwnvu"vq"fkhhgt"ocvgtkcnn{"htqo"vjqug"eqpvgorncvgf"d{"vjg"tgngxcpv"hqtyctf/nqqmkpi"uvcvgogpv0"Vjku"oc{"dg"fwg"vq"tkumu"qt"wpegtvckpvkgu"cuuqekcvgf"ykvj"qwt"gzrgevcvkqpu"ykvj"tgurgev"vq."dwv"pqv"nkokvgf"vq."tgiwncvqt{"ejcpigu"rgtvckpkpi"vq"vjg"kpfwuvtkgu"kp"Kpfkc"kp"yjkej"yg"jcxg"qwt"dwukpguugu"cpf"qwt"cdknkv{"vq"tgurqpf"vq"vjgo."qwt"cdknkv{"vq"uweeguuhwnn{"korngogpv"qwt"uvtcvgi{."qwt"itqyvj"cpf"gzrcpukqp."vgejpqnqikecn"ejcpigu."qwt"gzrquwtg"vq"octmgv"tkumu."igpgtcn"geqpqoke"cpf"rqnkvkecn"eqpfkvkqpu"kp"Kpfkc."yjkej"jcxg"cp"korcev"qp"qwt"dwukpguu"cevkxkvkgu"qt"kpxguvogpvu."vjg"oqpgvct{"cpf"hkuecn"rqnkekgu" qh" Kpfkc." kphncvkqp." fghncvkqp." wpcpvkekrcvgf" vwtdwngpeg" kp" kpvgtguv" tcvgu." hqtgkip" gzejcpig" tcvgu."gswkv{"rtkegu"qt"qvjgt"tcvgu"qt"rtkegu."vjg"rgthqtocpeg"qh"vjg"hkpcpekcn"octmgvu"kp"Kpfkc"cpf"inqdcnn{."ejcpigu"kp"fqoguvke" ncyu." tgiwncvkqpu" cpf" vczgu." ejcpigu" kp" eqorgvkvkqp" kp" qwt" kpfwuvt{" cpf" kpekfgpeg" qh" cp{" pcvwtcn"ecncokvkgu"cpf1qt"cevu"qh"xkqngpeg0"Korqtvcpv"hcevqtu"vjcv"yqwnf"ecwug"cevwcn"tguwnvu"vq"fkhhgt"ocvgtkcnn{"kpenwfg."kpenwfkpi."dwv"pqv"nkokvgf"vq<""� Qwt"kpcdknkv{"vq"ockpvckp"gzkuvkpi"cpf"1"qt"guvcdnkujkpi"pgy"cttcpigogpvu"ykvj"dtcpf"qypgtu"hqt"fkuvtkdwvkqp"
qh"kpvgtpcvkqpcn"nwzwt{"rtqfwevu"kp"Kpfkc."qt"rtqewtg"cfgswcvg"uwrrn{"qh"uwej"rtqfwevu="� Qwt" dgkpi" dqwpf" d{" tguvtkevkxg" eqxgpcpvu" wpfgt" lqkpv" xgpvwtg" 1" fkuvtkdwvkqp" citggogpvu" kp" tgncvkqp" vq"
Kpvgtpcvkqpcn"Dtcpfu."chhgevkpi"qwt"hkpcpekcn"cpf"qrgtcvkpi"eqpfkvkqpu="� Igpgtcn"ocetqgeqpqoke"e{engu"chhgevkpi"eqpuwogt"urgpfkpi="� Ejcpig"kp"ewuvqogt"rgtegrvkqp"qh"Kpvgtpcvkqpcn"Dtcpfu"qykpi"vq"gzvtcpgqwu"hcevqtu="� Qwt"kpcdknkv{"vq"cuegtvckp"uwkvcdknkv{"qh"nqecvkqpu"hqt"dtcpf"qwvngvu."rctvkewnctn{"Kpvgtpcvkqpcn"Dtcpfu="� Kpghhgevkxg"kpxguvogpvu"kp"dtcpf/dwknfkpi"cpf"octmgvkpi"cevkxkvkgu"qh"Qypgf"Dtcpfu."chhgevkpi"dtcpf"kocig"
cpf"dwukpguu"eqpfkvkqpu="� Hcknwtg"vq"ocpcig"kpxgpvqt{"qykpi"vq"cuuworvkqp"qh"kpxgpvqt{"tkum"hqt"fkuvtkdwvqtu"cpf"htcpejkuggu="� Gzgewvkqp"tkumu"chhgevkpi"itqyvj"uvtcvgikgu=""� Hcknwtg"vq"rtqvgev"kpvgnngevwcn"rtqrgtv{"qh"Qypgf"Dtcpfu"qt"Kpvgtpcvkqpcn"Dtcpfu."tguwnvkpi"kp"jcto"vq"dwukpguu"
cpf"eqorgvkvkxg"rqukvkqp="cpf"� Qwt"tgnkcpeg"qp"htcpejkuggu."yjq"yg"fq"pqv"eqpvtqn."vq"qrgtcvg"egtvckp"GDQu"qh"qwt"Qypgf"Dtcpfu"cpf"vjg"
Kpvgtpcvkqpcn"Dtcpfu0""For a further discussion of factors that could cause our actual results to differ, see “Tkum"Hcevqtu”, “Qwt"Dwukpguu”"and “Ocpcigogpv’s"Fkuewuukqp"cpf"Cpcn{uku"qh"Hkpcpekcn"Eqpfkvkqp"cpf"Tguwnvu"qh"Qrgtcvkqpu”"qp"rcigu"38."326" cpf" 496." tgurgevkxgn{0" D{" vjgkt" pcvwtg." egtvckp"octmgv" tkum" fkuenquwtgu" ctg" qpn{" guvkocvgu" cpf" eqwnf" dg"ocvgtkcnn{"fkhhgtgpv"htqo"yjcv"cevwcnn{"qeewtu" kp"vjg" hwvwtg0"Cu"c"tguwnv."cevwcn"hwvwtg"ickpu"qt"nquugu"eqwnf"dg"ocvgtkcnn{"dg"fkhhgtgpv"htqo"vjqug"vjcv"jcxg"dggp"guvkocvgf0"Hqtyctf/nqqmkpi"uvcvgogpvu"tghngev"qwt"ewttgpv"xkgyu"cu"qh"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"cpf"ctg"pqv"c"iwctcpvgg"qh"hwvwtg"rgthqtocpeg0"Cnvjqwij"yg"dgnkgxg"vjcv"vjg"cuuworvkqpu"qp"yjkej"uwej"uvcvgogpvu"ctg"dcugf"ctg"tgcuqpcdng."cp{"uwej"cuuworvkqpu"cu"ygnn"cu"vjg"uvcvgogpv"dcugf"qp"vjgo"eqwnf"rtqxg"vq"dg"kpceewtcvg0""Pgkvjgt"qwt"Eqorcp{."pqt"vjg"Ugnnkpi"Ujctgjqnfgtu."pqt"vjg"U{pfkecvg."pqt"cp{"qh"vjgkt"tgurgevkxg"chhknkcvgu"jcxg"cp{"qdnkicvkqp"vq"wrfcvg"qt"qvjgtykug"tgxkug"cp{"uvcvgogpvu"tghngevkpi"ektewouvcpegu"ctkukpi"chvgt"vjg"fcvg"jgtgqh"qt"vq"tghngev"vjg"qeewttgpeg"qh"wpfgtn{kpi"gxgpvu."gxgp"kh"vjg"wpfgtn{kpi"cuuworvkqpu"fq"pqv"eqog"vq"htwkvkqp0"Kp"ceeqtfcpeg"ykvj"UGDK"tgswktgogpvu."qwt"Eqorcp{"cpf"vjg"IEDTNOu"cpf"DTNO"yknn"gpuwtg"vjcv"kpxguvqtu"kp"Kpfkc"ctg"kphqtogf"qh"ocvgtkcn"fgxgnqrogpvu"wpvkn"vjg"tgegkrv"qh"hkpcn"nkuvkpi"cpf"vtcfkpi"crrtqxcnu"hqt"vjg"Gswkv{"Ujctgu"rwtuwcpv"vq"vjg"Qhhgt0""""""""
"
38""""
UGEVKQP"KK"/"TKUM"HCEVQTU""
"Cp"kpxguvogpv"kp"gswkv{"ujctgu"kpxqnxgu"c"jkij"fgitgg"qh"tkum0"[qw"ujqwnf"ectghwnn{"eqpukfgt"cnn"vjg"kphqtocvkqp"fkuenqugf" kp" vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu." kpenwfkpi"vjg"tkumu"cpf"wpegtvckpvkgu"fguetkdgf"dgnqy."dghqtg"ocmkpi"cp"kpxguvogpv"kp"vjg"Gswkv{"Ujctgu0"Vjg"tkumu"fguetkdgf"dgnqy"ctg"pqv"vjg"qpn{"qpgu"tgngxcpv"vq"wu"qt"vjg"Gswkv{"Ujctgu."qt"vjg"octmgv"hqt"nwzwt{"rtqfwevu"kp"Kpfkc0"Cffkvkqpcn"tkumu"cpf"wpegtvckpvkgu"pqv"rtgugpvn{"mpqyp"vq"wu"qt"vjcv"yg"ewttgpvn{"fggo"koocvgtkcn"oc{"cnuq"korckt"qwt"dwukpguu."hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu0"Kp"ocmkpi"cp"kpxguvogpv"fgekukqp."rtqurgevkxg"kpxguvqtu"owuv"tgn{"qp"vjgkt"qyp"gzcokpcvkqp"qh"wu"cpf"vjg"vgtou"qh"vjg"Qhhgt"kpenwfkpi"vjg"ogtkvu"cpf"vjg"tkumu"kpxqnxgf0"Kh"cp{"qh"vjg"tkumu"fguetkdgf"dgnqy"qt"qvjgt"tkumu" vjcv"ctg"ewttgpvn{"pqv"mpqyp"cevwcnn{"qeewt."qwt"dwukpguu." hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu" eqwnf" dg" cfxgtugn{" chhgevgf." vjg" vtcfkpi" rtkeg" qh" vjg" Gswkv{"Ujctgu" eqwnf" fgenkpg." cpf" rtqurgevkxg"kpxguvqtu"oc{"nqug"cnn"qt"rctv"qh"vjgkt"kpxguvogpv0"[qw"ujqwnf"eqpuwnv"{qwt"vcz."hkpcpekcn"cpf"ngicn"cfxkuqtu"cdqwv"vjg"rctvkewnct"eqpugswgpegu"vq"{qw"qh"cp"kpxguvogpv"kp"vjg"Gswkv{"Ujctgu0"Rtqurgevkxg"kpxguvqtu"ujqwnf"tgcf"vjku"ugevkqp"kp"eqplwpevkqp"ykvj"vjg"qvjgt"ugevkqpu"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu." kp"rctvkewnct"vjg"ugevkqpu"titled “Qwt" Dwukpguu”, “Kpfwuvt{" Qxgtxkgy” and “Management’s Discussion and Analysis of Financial Eqpfkvkqp" cpf" Tguwnvu" qh" Qrgtcvkqpu” on pages 326." ;4" cpf" 496." tgurgevkxgn{." cu" ygnn" cu" vjg" tguvcvgf"eqpuqnkfcvgf"hkpcpekcn"kphqtocvkqp"cpf"vjg"tguvcvgf"uvcpfcnqpg"hkpcpekcn"kphqtocvkqp"kpenwfgf"kp"vjg"ugevkqp"vkvngf"“Hkpcpekcn"Uvcvgogpvu” on page 37;0"Vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"eqpvckpu"hqtyctf/nqqmkpi"uvcvgogpvu"vjcv" kpxqnxg"tkumu"cpf"wpegtvckpvkgu0"Qwt"cevwcn"tguwnvu"eqwnf"fkhhgt"ocvgtkcnn{" htqo" vjqug"cpvkekrcvgf" kp" vjgug"hqtyctf/nqqmkpi" uvcvgogpvu" cu" c" tguwnv" qh" egtvckp" hcevqtu." kpenwfkpi" vjg" eqpukfgtcvkqpu" fguetkdgf" dgnqy" cpf"elsewhere in this Draft Red Herring Prospectus. For further details, see “Hqtyctf/Nqqmkpi"Uvcvgogpvu” on page 370"Wpnguu"qvjgtykug"uvcvgf"qt"vjg"eqpvgzv"tgswktgu."hkpcpekcn"kphqtocvkqp"wugf"kp"vjku"ugevkqp"ku"fgtkxgf"htqo"vjg"Tguvcvgf"Eqpuqnkfcvgf"Hkpcpekcn"Kphqtocvkqp"qh"qwt"Eqorcp{0"""Kpvgtpcn"Tkum"Hcevqtu"
"
30 Kh"yg"ctg"wpcdng"vq"ockpvckp"gzkuvkpi"cpf1qt"guvcdnkuj"pgy"cttcpigogpvu"ykvj"vjg"dtcpf"qypgtu"hqt"vjg"fkuvtkdwvkqp"qh"kpvgtpcvkqpcn"nwzwt{"rtqfwevu"kp"Kpfkc."qt"ctg"wpcdng"vq"rtqewtg"cp"cfgswcvg"uwrrn{"qh"rtqfwevu."qwt"dwukpguu"yqwnf"dg"cfxgtugn{"chhgevgf0"""Yg"jcxg"gpvgtgf"kpvq"fkuvtkdwvkqp1"lqkpv"xgpvwtg"citggogpvu"ykvj"dtcpf"qypgtu"kp"tgncvkqp"vq"38"kpvgtpcvkqpcn"dtcpfu" kp" Kpfkc" *vjg" “Kpvgtpcvkqpcn" Dtcpfu”), pursuant to which we distribute" nwzwt{" cpf" rtgokwo"rtqfwevu0"Vjgug"cttcpigogpvu"ctg"rtgfqokpcpvn{"kp"vjg"hqto"qh"fkuvtkdwvqt"cpf" lqkpv"xgpvwtg"citggogpvu"yjkej."qvjgt"vjcp"hqt"qpg"qh"vjg"Kpvgtpcvkqpcn"Dtcpfu."rtqxkfg"wu"ykvj"vjg"gzenwukxg"tkijv"vq"fkuvtkdwvg"vjg"rtqfwevu" qh" uwej" Kpvgtpcvkqpcn" Dtcpfu" ykvjkp" Kpfkc" *qvjgt" vjcp" fwv{" htgg" uvqtgu" cpf" qpnkpg" fkuvtkdwvkqp"ejcppgnu" hqt"egtvckp" Kpvgtpcvkqpcn"Dtcpfu+0"Yjkng"yg"uvtkxg" vq"gpvgt" kpvq" nqpi/vgto" citggogpvu"ykvj" vjg"dtcpf"qypgtu."qwt"ewttgpv"citggogpvu"v{rkecnn{"tcpig"htqo"c"vgto"qh" vjtgg"vq"42"{gctu0"Kp"vjg"cdugpeg"qh"nqpi/vgto"citggogpvu"ykvj"uqog"qh"vjg"dtcpf"qypgtu."yg"ecppqv"cuuwtg"{qw"vjcv"vjg{"yknn"eqpvkpwg"vq"dg"cuuqekcvgf"*gzenwukxgn{"qt"qvjgtykug+"ykvj"wu"qp"tgcuqpcdng"vgtou."qt"cv"cnn0"Hwtvjgt."vjg"dtcpf"qypgtu"oc{"tgecnkdtcvg" vjgkt" inqdcn" uvtcvgi{" xku/ä/xku" Kpfkc" cu" c"octmgv." yjkej" eqwnf" tguwnv" kp" vgtokpcvkqp" qh" qwt"citggogpvu"ykvj"vjgo"qt"tgpgiqvkcvkqp"qt"tgpgycn"qh"citggogpvu"qp"vgtou"nguu"hcxqwtcdng"vq"wu0"Kh"qpg"qt"oqtg" qh" qwt" citggogpvu" ykvj" uwej"dtcpf" qypgtu" ku" tgpgiqvkcvgf" qt" vgtokpcvgf." qwt"dwukpguu." tguwnvu" qh"qrgtcvkqpu"cpf"hkpcpekcn"eqpfkvkqp"oc{"dg"cfxgtugn{"chhgevgf0"Cu"c"tguwnv."yg"oc{"dg"tgswktgf"vq"gpvgt"kpvq"cnvgtpcvg"cttcpigogpvu"ykvj"qvjgt"dtcpf"qypgtu."yjkej"oc{"pqv"dg"qp" vgtou"hcxqwtcdng" vq"wu"qt"yjqug"dtcpfu"oc{"pqv"dg"cu"tgeqipk|cdng"qt" kp"fgocpf."cpf"eqwnf" ngcf" vq"cp"cfxgtug" korcev"qp"qwt"dwukpguu0"Cffkvkqpcnn{."cu"qp"Cwiwuv"53."4238."vjtgg"qh"qwt"fkuvtkdwvkqp"citggogpvu"ykvj"vjg"Kpvgtpcvkqpcn"Dtcpfu"ctg"fwg"vq"ncrug"kp"vjg"pgzv"34"oqpvju"kp"ceeqtfcpeg"ykvj"vjgkt"vgtou0"Hwtvjgt."qwt"fkuvtkdwvkqp"citggogpv"ykvj"qpg"qh"vjg"Kpvgtpcvkqpcn"Dtcpfu"gzrktgf"kp"Octej"4238."cpf"cnvjqwij"yg"eqpvkpwg"vq"fkuvtkdwvg"uwej"dtcpf"qp"vjg"ucog"vgtou"cu"qwt"gzrktgf"fkuvtkdwvkqp"citggogpv."vjgtg"ecp"dg"pq"cuuwtcpeg"vjcv"yg"yknn"dg"cdng"vq"tgpgy"uwej"cttcpigogpv"qp"vgtou"ceegrvcdng"vq"wu."qt"cv"cnn0"Kh"qwt"fkuvtkdwvkqp"citggogpvu"kp"tgncvkqp"vq"vjg"Kpvgtpcvkqpcn"Dtcpfu"ctg"pqv"tgpgygf."qt"ctg"pqv"tgpgygf"qp"vgtou"cpf"eqpfkvkqpu"vjcv"ctg"hcxqwtcdng"vq"wu."qwt"dwukpguu."hkpcpekcn"eqpfkvkqp"cpf"tguwnvu"qh"qrgtcvkqp"oc{"dg"cfxgtugn{"chhgevgf0"""Yg"jcxg"gpvgtgf"kpvq"lqkpv"xgpvwtg"citggogpvu"ykvj"dtcpf"qypgtu"yjkej"rtqxkfg"qwt"lqkpv"xgpvwtgu"ykvj"exclusive distribution rights for, ‘Dwtdgtt{’, ‘Xknngtq{"("Dqej’ and ‘Ecpcnk’ products in Ipfkc0"Jqygxgt."we do not have “control” qxgt" uwej" eqorcpkgu." cpf" vjgtghqtg" ecppqv"ocmg"ocpcigogpv" cpf" dwukpguu"fgekukqpu"qp"dgjcnh"qh"uwej"eqorcpkgu0"Kh"eqpuwogtu"jcxg"eqornckpvu"tgictfkpi"dwukpguu"fgekukqpu"qh"uwej"eqorcpkgu" qt" gzrgtkgpeg" rtqfwev" tgncvgf" kuuwgu." uwej" eqornckpvu"oc{" jcxg" cp" cfxgtug" korcev" qp" qwt"tgrwvcvkqp"cpf"vjg"ucngu"qh"uwej"rtqfwevu0"
"
39""""
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42""""
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43""""
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"
44""""
Hwtvjgt."rwtuwcpv"vq"qwt"citggogpvu"ykvj"dtcpf"qypgtu"qh"vjg"Kpvgtpcvkqpcn"Dtcpfu."yg"cnuq"jcxg"nkokvgf"tkijvu"vq"wug"vjg"kpvgnngevwcn"rtqrgtv{."kpenwfkpi"vtcfgoctmu."kp"eqppgevkqp"ykvj"vjg"qrgtcvkqp"qh"qwt"uvqtgu"cpf"hqt"vjg"rtqfwevu"yjkej"yg"ctg"ugnnkpi"cv"vjg"nqecvkqpu"crrtqxgf"d{"vjg"dtcpf"qypgtu0"Egtvckp"qh"vjgug"citggogpvu"rtqxkfg"vjcv"cp{"wpcwvjqtk|gf"wug"qh"uwej"kpvgnngevwcn"rtqrgtv{"tkijvu"d{"wu"yqwnf"tguwnv"kp"cp"gxgpv"qh"fghcwnv0"Kp"vjg"gxgpv"yg"qt"cp{"qh"qwt"gornq{ggu"kpcfxgtvgpvn{"wug"vjg"kpvgnngevwcn"rtqrgtv{"kp"uwej"c"ocppgt."qwt"citggogpvu"oc{"dg"vgtokpcvgf."yjkej"eqwnf"jcxg"c"ocvgtkcn"cfxgtug"ghhgev"qp"qwt"dwukpguu."hkpcpekcn"eqpfkvkqp"cpf"tguwnvu"qh"qrgtcvkqpu0"""
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"Yg"jcxg"gpvgtgf"kpvq"citggogpvu"ykvj"vjktf"rctv{"htcpejkuggu"vq"qrgtcvg"vjg"GDQu"kp"Kpfkc"hqt"qwt"Qypgf"Dtcpfu"cu"ygnn"cu"hqt"vjg"Kpvgtpcvkqpcn"Dtcpfu."wpfgt"fkuvtkdwvqt"cpf"htcpejkugg"oqfgnu0"Cnvjqwij"rtkqt"vq"Hkuecn"4238."yg"qrgtcvgf"c"ukipkhkecpv"pwodgt"qh"vjg"GDQu"ykvj"tgurgev"vq"qwt"Qypgf"Dtcpfu."ykvj"ghhgev"htqo" Hgdtwct{." 4238." yg" ejcpigf" qwt" dwukpguu"oqfgn" cpf" vtcpuhgttgf" vjg" qrgtcvkqp" qh" vjg" Eqorcp{/qrgtcvgf"GDQu"ykvj"tgurgev"vq"qwt"Qypgf"Dtcpfu"vq"vjg"htcpejkuggu."rwtuwcpv"vq"htcpejkug"citggogpvu0"""
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46""""
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47""""
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380 Yg"tgn{"qp"vjktf"rctv{"uwrrnkgtu"cpf"ocpwhcevwtgtu"vq"ocpwhcevwtg"c"oclqtkv{"qh"qwt"Qypgf"Dtcpfu’"rtqfwevu."cpf"yg"jcxg"nkokvgf"eqpvtqn"qxgt"vjgo"cpf"oc{"pqv"dg"cdng"vq"qdvckp"swcnkv{"rtqfwevu"qp"c"vkogn{" dcuku" qt" kp" uwhhkekgpv" swcpvkv{" yjkej" oc{" jcxg" c" ocvgtkcn" cfxgtug" ghhgev" qp" qwt" tguwnvu" qh"qrgtcvkqpu0""
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"
48""""
390 Qwt"dwukpguu"ku"uwdlgev"vq"ugcuqpcnkv{0"Nqygt"tgxgpwgu"kp"vjg"ugeqpf"swctvgt"qh"cp{"Hkuecn"oc{"cfxgtugn{"chhgev"qwt"dwukpguu."hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu0"""Yg" ctg" korcevgf" d{" ugcuqpcn" xctkcvkqpu" kp" ucngu" xqnwogu." yjkej" oc{" ecwug" qwt" tgxgpwgu" vq" xct{"ukipkhkecpvn{"dgvyggp"fkhhgtgpv"Hkuecn"swctvgtu0"V{rkecnn{."yg"ugg"cp"kpetgcug"kp"qwt"dwukpguu"fwtkpi"vjg"vjktf"swctvgt"qh"cp{"ikxgp"Hkuecn."k0g0."fwtkpi"vjg"Fkycnk"cpf"jqnkfc{"ugcuqp0"Vjgtghqtg."qwt"qrgtcvkpi"tguwnvu"cpf"ecuj" hnqyu" hqt" fkhhgtgpv" Hkuecn"swctvgtu"oc{" pqv"dg" eqorctcdng" cpf" cp{" uwej" eqorctkuqpu"oc{" pqv"dg"ogcpkpihwn." qt"oc{" pqv"dg" kpfkecvkxg" qh" qwt" cppwcn" hkpcpekcn" tguwnvu" qt" qwt" tguwnvu" kp" cp{" hwvwtg" Hkuecn"swctvgtu"qt"rgtkqfu0"""
3:0 Vjg"wpcwvjqtk|gf"octmgvkpi"cpf"ucng"d{"vjktf"rctvkgu"qh"eqwpvgthgkv"qt"rctcnngn"korqtvgf"rtqfwevu"qh"vjg"Kpvgtpcvkqpcn"Dtcpfu" hqt" yjkej"yg"jcxg" gzenwukxg" fkuvtkdwvkqp" tkijvu." eqwnf" jcxg"c"ocvgtkcn" cfxgtug"ghhgev"qp"qwt"dwukpguu0"""Yg"jcxg." kp" vjg"rcuv." hcegf" kpuvcpegu" yjgtg" vjktf"rctvkgu"jcxg"octmgvgf"qt" uqnf"eqwpvgthgkv" qt"rctcnngn"korqtvgf"rtqfwevu." hqt"yjkej"yg"jcxg"fkuvtkdwvkqp" tkijvu"ykvjkp" Kpfkc"rwtuwcpv" vq"citggogpvu"ykvj" vjg"dtcpf"qypgtu0"Hqt"kpuvcpeg."c"vjktf"rctv{"g/eqoogteg"rqtvcn"jcf"octmgvgf"egtvckp"rtqfwevu"wpfgt"vjg"octm"qh" qpg" qh" qwt" Kpvgtpcvkqpcn" Dtcpfu." hqt" yjkej" yg" jcxg" gzenwukxg" fkuvtkdwvkqp" tkijvu" kp" Kpfkc0" Uwej"wpcwvjqtk|gf"octmgvkpi"d{"vjktf"rctvkgu"qh"rtqfwevu"hqt"yjkej"yg"jcxg"gzenwukxg"fkuvtkdwvkqp"tkijvu."gkvjgt"vjtqwij"rcuukpi"qhh"qt"vjtqwij"vjg"rctcnngn"korqtv"qh"rtqfwevu."oc{"cfxgtugn{"korcev"qwt"rtqfwev"ucngu"cpf"tgfweg"qwt"tgxgpwg."vjgtgd{"cfxgtugn{"chhgevkpi"qwt"tguwnvu"qh"qrgtcvkqpu"cpf"hkpcpekcn"eqpfkvkqp."cu"ygnn"cu"qwt"eqorgvkvkxg"rqukvkqp0""
"3;0 Yg" tgn{" qp" nctig" hqtocv" tgvckn" uvqtgu" hqt" vjg" ujqr/kp/ujqr" qrgtcvkqpu" hqt" qwt" Qypgf" Dtcpfu0" Vjg"
vgtokpcvkqp"cpf1qt"pqp/tgpgycn"qh"qwt"citggogpvu"ykvj"nctig"hqtocv"tgvckn"uvqtgu"oc{"ocvgtkcnn{"cpf"cfxgtugn{"chhgev"qwt"dwukpguu."tguwnvu"qh"qrgtcvkqpu"cpf"hkpcpekcn"eqpfkvkqp0""
Yg"tgn{"qp"nctig"hqtocv"tgvckn"uvqtgu"hqt"qwt"ujqr/kp/ujqr"qrgtcvkqpu."urgekhkecnn{"kp"tgncvkqp"vq"qwt"Qypgf"Dtcpfu0"Qwt"citggogpvu"ykvj"nctig"hqtocv"tgvckn"uvqtgu"rtqxkfg"wu"ykvj"vjg"tkijv"vq"guvcdnkuj"ujqr/kp/ujqru"kp"vjgkt"tgurgevkxg"uvqtgu0"Cu"qh"Cwiwuv"53."4238."qwt"Ucv{c"Rcwn"rtqfwevu"ygtg"uqnf"cv"5:"GDQu"cpf";;"ujqr/kp/ujqru"kp"vyq"nctig"hqtocv"tgvckn"uvqtgu"cetquu"3:"ekvkgu"kp"Kpfkc"cpf"qwt"Dy#vej"rtqfwevu"ygtg"uqnf"cv"vjtgg"GDQu."374"ujqr/kp/ujqru"kp"hqwt"nctig"hqtocv"tgvckn"uvqtgu"cetquu"3;"ekvkgu"kp"Kpfkc"cpf"qxgt"443"nqecn"vtcfg"uvqtgu"cetquu"Kpfkc0"Qwt"ujqr/kp/ujqr"qwvngv"ejcppgn"tgrtgugpvgf"8076'"qh"qwt"eqpuqnkfcvgf"ucngu"hqt"Hkuecn"42380"Qwt"cdknkv{"vq"qrgp"pgy"ujqr"kp"ujqru"ykvjkp"nctig"hqtocv"tgvckn"uvqtgu"fgrgpfu"ockpn{"qp"vjg"itqyvj."cpf"ucngu"qh"qwt"rtqfwevu"cv"vjg"nctig"hqtocv"tgvckn"uvqtgu0"
Yg"ecppqv"cuuwtg"{qw"vjcv"yg"yknn"jcxg"vjg"tkijv"vq"qeewr{"vjgug"ujqr/kp/ujqru"kp"vjg"hwvwtg."qt"vjcv"yg"yknn"dg"cdng"vq"eqpvkpwg"ykvj"vjg"wpkpvgttwrvgf"wug"qh"vjgug"rtqrgtvkgu0"Vjgtg"ku"c"tkum"vjcv"qwt"citggogpvu"oc{"pqv"dg"tgpgygf"qt"eqwnf"dg"vgtokpcvgf"rtgocvwtgn{0"Kp"vjg"gxgpv"vjcv"vjg"nctig"hqtocv"tgvckn"uvqtgu"fq"pqv"tgpgy"qwt"citggogpvu"cv"vjg"gzrktcvkqp"qh"vjgkt"vgto."kh"vjg{"vgtokpcvg"uwej"citggogpvu"cv"cp{"vkog."qt"kh"vjg{"fq"pqv"gzgewvg"citggogpvu"ykvj"wu"hqt"cffkvkqpcn"ujqr/kp/ujqru"ykvjkp"nctig"hqtocv"tgvckn"uvqtgu."qwt"dwukpguu."tguwnvu"qh"qrgtcvkqpu"cpf"hkpcpekcn"eqpfkvkqp"yqwnf"dg"ocvgtkcnn{"cfxgtugn{"chhgevgf0"Kp"cffkvkqp."kp"vjg"gxgpv"vjg"tgpvcn"rtkegu"hqt"qwt"ewttgpv"ujqr/kp/ujqr"uvqtgu"kpetgcug."qwt"cdknkv{"vq"ngcug"urcegu"cv"uwej"nqecvkqpu"oc{"dg"tguvtkevgf0""
420 Yg"ctg"gzrqugf"vq"vjg"etgfkv"tkumu"qh"qwt"htcpejkuggu"cpf"nctig"hqtocv"tgvckn"uvqtgu"cpf"cp{"pqp/rc{ogpv"qt"pqp/rgthqtocpeg"d{"cp{"qh"vjgo"eqwnf"ocvgtkcnn{"cpf"cfxgtugn{"chhgev"qwt"hkpcpekcn"eqpfkvkqp"cpf"tguwnvu"qh"qrgtcvkqpu0""Yg"ctg"gzrqugf"vq"rc{ogpv"fgnc{u"cpf1qt"fghcwnvu"d{"qwt"htcpejkuggu"cpf"nctig"hqtocv"tgvckn"uvqtgu0"Cu"qh"Octej"53."4238."qwt"vtcfg"tgegkxcdngu"coqwpvgf"vq"`"3.363067"oknnkqp"cpf"ceeqwpvgf"hqt"59045'"qh"qwt"vqvcn"ewttgpv"cuugvu"cpf"8096'"qh"vjgug"vtcfg"tgegkxcdngu"ygtg"oqtg"vjcp"ukz"oqpvju"rcuv"fwg0"Qwt"hkpcpekcn"rqukvkqp"cpf"rtqhkvcdknkv{"vjgtghqtg"fgrgpfu"qp"vjg"etgfkv/yqtvjkpguu"qh"qwt"htcpejkuggu"cpf"nctig" hqtocv"tgvckn"uvqtgu0"""Egtvckp" qh" vjgug" eqwpvgtrctvkgu"oc{" jcxg" ygcm" etgfkv" jkuvqtkgu" cpf" yg" ecppqv" cuuwtg" {qw" vjcv" vjgug"eqwpvgtrctvkgu" yknn" cnyc{u"dg" cdng" vq"rc{" wu" kp" c" vkogn{" hcujkqp." kh" cv" cnn0" Cp{" ejcpig" kp" vjg" hkpcpekcn"eqpfkvkqp"qh"qwt"htcpejkuggu"qt"nctig"hqtocv"tgvckn"uvqtgu"vjcv"cfxgtugn{"chhgevu"vjgkt"cdknkv{"vq"rc{"wu"oc{"ocvgtkcnn{"cfxgtugn{"chhgev"qwt"tguwnvu"qh"qrgtcvkqpu"cpf"hkpcpekcn"eqpfkvkqp0"
"
49""""
"430 Yg"tgn{"qp"vjg"gzrgtvkug."gzrgtkgpeg"cpf"ngcfgtujkr"qh"qwt"Rtqoqvgt"cpf"Ocpcikpi"Fktgevqt."Ot0"Ucplc{"
Mcrqqt."cu"ygnn"cu"qvjgt"ogodgtu"qh"qwt"ocpcigogpv"vgco"cpf"qwt"dwukpguu"cpf"itqyvj"rtqurgevu"oc{"fgenkpg"kh"yg"ecppqv"dgpghkv"htqo"vjgug"tgncvkqpujkru"kp"vjg"hwvwtg"qt"ctg"wpcdng"vq"cvvtcev"qt"tgvckp"mg{"rgtuqppgn0"
"Yg"tgn{"kp"ocp{"yc{u"qp"qwt"tgncvkqpujkr"ykvj"qwt"Rtqoqvgt"cpf"Ocpcikpi"Fktgevqt."Ot0"Ucplc{"Mcrqqt."cu"c"tguwnv"qh"jku"tgrwvcvkqp."gzrgtkgpeg"cpf"mpqyngfig"qh"vjg"octmgv"hqt"nwzwt{"rtqfwevu0"Jg"jcu"oqtg"vjcp"46"{gctu"qh"gzrgtkgpeg"kp"vjg"nwzwt{"hcujkqp"kpfwuvt{"cpf"jcu"dggp"rtkoctkn{"tgurqpukdng"hqt"vjg"fktgevkqp"cpf" itqyvj" qh" qwt" dwukpguu0" Jg" jcu" cnuq" rtqxkfgf" rgtuqpcn" iwctcpvggu" hqt" c" pwodgt" qh" qwt" hkpcpekpi"cttcpigogpvu0"Qwt"itqyvj"cpf"hwvwtg"uweeguu"ctg"kphnwgpegf."kp"rctv."d{"qwt"eqpvkpwgf"tgncvkqpujkr"ykvj"Ot0"Ucplc{"Mcrqqt0"""Qwt" uwuvckpgf" itqyvj" cnuq" fgrgpfu" qp" vjg" eqpvkpwgf" kpxqnxgogpv" qh" qvjgt" ogodgtu" qh" qwt" ugpkqt"ocpcigogpv"vgco."uwej"cu"qwt"itqwr"Ejkgh"Gzgewvkxg"Qhhkegt."Ot0"Pkmjkn"Ogjtc."yjq"jcu"dggp"cuuqekcvgf"ykvj"wu"ukpeg"422:"cpf"jcu"rnc{gf"c"mg{"tqng"kp"ftkxkpi"vjg"itqyvj"qh"vjg"Kpvgtpcvkqpcn"Dtcpfu"dwukpguu0"
"Qwt"uweeguu"cnuq"fgrgpfu"qp" vjg"eqpvkpwgf"ugtxkeg"cpf"rgthqtocpeg"qh" vjg"qvjgt"ogodgtu"qh"qwt"ugpkqt"ocpcigogpv" vgco" cpf" qvjgt" mg{" rgtuqppgn" hqt" korngogpvcvkqp."ocpcigogpv" cpf" twppkpi" qh" vjg" fckn{"qrgtcvkqpu"cpf"vjg"rncppkpi"cpf"gzgewvkqp"qh"qwt"dwukpguu"uvtcvgi{0"Kp"cffkvkqp."qwt"hwvwtg"uweeguu"oc{"cnuq"fgrgpf"qp"qwt"cdknkv{"vq"cvvtcev"cpf"tgvckp"cffkvkqpcn"swcnkhkgf"fgukip."ucngu"cpf"octmgvkpi"rgtuqppgn0"Kp"vjg"gxgpv" vjcv" yg" nqug" vjg" ugtxkegu"qh" cp{"qh" vjgug"qt" qvjgt"mg{" kpfkxkfwcnu" cpf" ctg"wpcdng" vq" hkpf" uwkvcdng"tgrncegogpvu" kp" c" vkogn{"ocppgt." qwt" dwukpguu" cpf" tguwnvu" qh" qrgtcvkqpu"oc{" dg"ocvgtkcnn{" cfxgtugn{"chhgevgf0"Yg"ecppqv"cuuwtg"{qw"vjcv"yg"yknn"dg"uweeguuhwn"kp"tgrncekpi"rgtuqppgn"yjq"ngcxg"qt"kp"tgetwkvkpi"cpf"tgvckpkpi"c"uwhhkekgpv"pwodgt"qh"rgtuqppgn"ykvj"vjg"tgswkukvg"umknnu0""
440 C"ukipkhkecpv"fkutwrvkqp"vq"qwt"fkuvtkdwvkqp"pgvyqtm"qt"cp{"fkutwrvkqp"qh"ekxkn"kphtcuvtwevwtg."vtcpurqtv"qt"nqikuvke"ugtxkegu."oc{"etgcvg"fgnc{u"kp"fgnkxgtkgu"qh"rtqfwevu"fkuvtkdwvgf"d{"wu0"
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"Hwtvjgt." vjgtg"ecp"dg"pq"cuuwtcpeg" vjcv"yg" yknn"dg"cdng" vq" ugewtg" uwhhkekgpv" vtcpurqtv"ecrcekv{" hqt" vjgug"rwtrqugu0"C"ukipkhkecpv"fkutwrvkqp"vq"qwt"fkuvtkdwvkqp"pgvyqtm"qt"cp{"fkutwrvkqp"qh"ekxkn"kphtcuvtwevwtg"eqwnf"ngcf"vq"c"hcknwtg"d{"wu"vq"rtqxkfg"rtqfwevu"fkuvtkdwvgf"d{"wu"kp"c"vkogn{"ocppgt."yjkej"yqwnf"cfxgtugn{"chhgev"qwt"dwukpguu"cpf"tguwnvu"qh"qrgtcvkqpu0"""
450 Yg"fq"pqv"qyp"oquv"qh"vjg"rtgokugu"qp"yjkej"yg"qrgtcvg"cpf"qwt"dwukpguu."tguwnvu"qh"qrgtcvkqpu"cpf"hkpcpekcn"eqpfkvkqp"yqwnf"dg"ocvgtkcnn{"cfxgtugn{"chhgevgf"kh"qwt" ngcugu"qt"nkegpugu"ctg"pqv"tgpgygf"qt"ctg"vgtokpcvgf0""Oquv"qh"qwt"rtgokugu." kpenwfkpi"qwt"Tgikuvgtgf"cpf"Eqtrqtcvg"Qhhkeg."yctgjqwugu"cpf" vjg"GDQu"qh" vjg"Kpvgtpcvkqpcn"Dtcpfu"cpf"qwt"Qypgf"Dtcpfu."ctg"nqecvgf"qp"rtgokugu"ngcugf"qt"nkegpugf"d{"wu0"Yjkng"yg"gpfgcxqt"vq"gpvgt"kpvq"nqpi"vgto"citggogpvu."yg"ecppqv"cuuwtg"{qw"vjcv"yg"yknn"dg"cdng"vq"tgpgy"cp{"uwej"ngcugu"yjgp"vjg"vgto"qh"vjg"qtkikpcn"ngcug"gzrktgu."qp"ukoknct"vgtou"qt"vgtou"tgcuqpcdng"hqt"wu"qt"vjcv"uwej"ngcugu"yknn"pqv"dg"rtgocvwtgn{"vgtokpcvgf"*kpenwfkpi"hqt"tgcuqpu"vjcv"oc{"dg"dg{qpf"qwt"eqpvtqn+0"Vjg"ngcug"fggf"hqt"qwt"Tgikuvgtgf"cpf"Eqtrqtcvg"Qhhkeg"uvkrwncvgu"vjcv"qwt"Eqorcp{"ujcnn"wug"vjg"rtgokugu"hqt"vjg"rwtrqug"qh"ocpwhcevwtkpi" cpf"fgukipkpi" cevkxkvkgu0"Yjkng" yg"qrgtcvg" c" fgukip" uvwfkq" cv" uwej"rtgokugu."yjgtg"cnn"vjg"Ucv{c"Rcwn"cpf"Dy#vej"rtqfwevu"ctg"fgukipgf."kh"yg"ctg"fggogf"vq"dg"pqp/eqornkcpv"ykvj"vjg"vgtou"qh"vjg"ngcug"fggf"hqt"cp{"tgcuqp."qwt"ngcug"oc{"dg"rtgocvwtgn{"vgtokpcvgf0""
"
4:""""
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540 Yg"jcxg"kp"vjg"rcuv"gpvgtgf"kpvq"tgncvgf"rctv{"vtcpucevkqpu"cpf"oc{"eqpvkpwg"vq"fq"uq"kp"vjg"hwvwtg."yjkej"oc{"cfxgtugn{"chhgev"qwt"dwukpguu."hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu0"""Yg"jcxg"kp"vjg"rcuv."cpf"gzrgev"vq"eqpvkpwg"vq"gpvgt."kpvq"vtcpucevkqpu"ykvj"egtvckp"tgncvgf"rctvkgu"kp"vjg"qtfkpct{"eqwtug"qh"dwukpguu0"Hqt"gzcorng." kp" Hkuecn"4238."yg"rckf"tgpv"coqwpvkpi" vq"`"2025"oknnkqp" vq"Igpguku"Qxgtugcu"Rtkxcvg"Nkokvgf."qpg"qh"qwt"Rtqoqvgt"Itqwr"eqorcpkgu"kp"tgncvkqp"vq"c"rtgokugu"nqecvgf"in New Delhi. For further details of our related party transactions, see “Hkpcpekcn"Uvcvgogpvu"–"Tguvcvgf"Eqpuqnkfcvgf"Hkpcpekcn"Kphqtocvkqp” on page 4370""Yjkng"yg"dgnkgxg"vjcv"qwt"rcuv"tgncvgf"rctv{"vtcpucevkqpu"jcxg"dggp"eqpfwevgf"qp"cp"cto)u"ngpivj"dcuku."yg"ecppqv"cuuwtg"{qw"vjcv"yg"eqwnf"pqv"jcxg"cejkgxgf"oqtg"hcxqtcdng"vgtou"kh"uwej"vtcpucevkqpu"jcf"pqv"dggp"gpvgtgf"kpvq"ykvj"tgncvgf"rctvkgu"qt"vjcv"yg"yknn"dg"cdng"vq"ockpvckp"gzkuvkpi"vgtou."kp"ecugu"yjgtg"vjg"vgtou"ctg"oqtg"hcxqtcdng"vjcp"kh"vjg"vtcpucevkqp"jcf"pqv"dggp"eqpfwevgf"ykvj"tgncvgf"rctvkgu0"Yg"ecppqv"cuuwtg"{qw" vjcv" uwej" vtcpucevkqpu." kpfkxkfwcnn{" qt" kp" ciitgicvg." yknn" pqv" jcxg"ocvgtkcn" cfxgtug" ghhgev" qp" qwt"dwukpguu." hkpcpekcn" eqpfkvkqp" cpf" tguwnvu" qh" qrgtcvkqpu." tguwnvkpi" htqo"rqvgpvkcn" eqphnkevu" qh" kpvgtguv" qt"qvjgtykug0""
550 Qwt"kpuwtcpeg"eqxgtcig"oc{"dg"kpuwhhkekgpv"vq"rtqvgev"wu"cickpuv"cnn"hwvwtg"tkumu."yjkej"oc{"cfxgtugn{"chhgev"qwt"dwukpguu."hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu0""Qwt"Eqorcp{"jcu"eqxgtgf"kvugnh"cickpuv"egtvckp"tkumu."kpenwfkpi"eqxgtcig"hqt"tkumu"tgncvkpi"vq"dwtinct{."hktg"cpf"octkpg"ectiq0"Hwtvjgt."rwtuwcpv"vq"qwt"citggogpvu"ykvj"vjg"dtcpf"qypgtu"hqt"vjg"Kpvgtpcvkqpcn"Dtcpfu."yg"ctg" tgswktgf" vq"ockpvckp"cfgswcvg" kpuwtcpeg"eqxgt"cickpuv"eqoogtekcn" tkumu" *uwej"cu"rwdnke" nkcdknkv{"kpuwtcpeg." dwv" gzenwfkpi" rtqfwev" nkcdknkv{" kpuwtcpeg+." cv" qwt" gzrgpug0" Yjkng" yg"ockpvckp" kpuwtcpeg" kp"coqwpvu"vjcv"yg"dgnkgxg"vq"dg"crrtqrtkcvg"hqt"qwt"qrgtcvkqpu"ykvj"kpuwtgtu"vjcv"yg"dgnkgxg"vq"dg"tgnkcdng"cpf"etgfkv"yqtvj{."yg"oc{"hceg"nquugu"cpf"nkcdknkvkgu"vjcv"ctg"wpkpuwtcdng"d{"vjgkt"pcvwtg."qt"vjcv"ctg"pqv"eqxgtgf."hwnn{"qt"cv"cnn."wpfgt"qwt"uwdukuvkpi"kpuwtcpeg"rqnkekgu0"Hqt"kpuvcpeg."cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."yg"fq"pqv"jcxg"fktgevqtu"cpf"qhhkegtu"nkcdknkv{"rqnke{0"""
"
53""""
Oqtgqxgt."eqxgtcig"wpfgt"kpuwtcpeg"rqnkekgu"yqwnf"igpgtcnn{"dg"uwdlgev"vq"egtvckp"uvcpfctf"qt"pgiqvkcvgf"gzenwukqpu"qt"swcnkhkecvkqpu"cpf."vjgtghqtg."cp{"hwvwtg"kpuwtcpeg"enckou"d{"wu"oc{"pqv"dg"jqpqtgf"d{"qwt"kpuwtgtu"kp"hwnn."qt"cv"cnn0"Kp"cffkvkqp."qwt"rtgokwo"rc{ogpvu"wpfgt"qwt"kpuwtcpeg"rqnkekgu"oc{"tgswktg"c"ukipkhkecpv"kpxguvogpv"d{"wu0""Vq"vjg"gzvgpv"vjcv"yg"oc{"uwhhgt"nquu"qt"fcocig"hqt"yjkej"yg"fkf"pqv"qdvckp"kpuwtcpeg"qt"vjcv"ku"pqv"eqxgtgf"d{"kpuwtcpeg"qt"gzeggfu"qwt"kpuwtcpeg"eqxgtcig."vjg"nquu"yqwnf"jcxg"vq"dg"dqtpg"d{"wu"cpf"qwt"dwukpguu."ecuj"hnqy."hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu"oc{"dg"cfxgtugn{"chhgevgf0""
560 Itcpvu"qh"uvqem"qrvkqpu"wpfgt"qwt"gornq{gg"uvqem"qrvkqp"rncp"oc{"tguwnv"kp"c"ejctig"vq"qwt"rtqhkv"cpf"nquu"ceeqwpv"cpf."vq"vjcv"gzvgpv."cfxgtugn{"chhgev"qwt"dwukpguu."hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu0""
Cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."57.522"uvqem"qrvkqpu"ctg"tgockpkpi"vq"dg"itcpvgf"vq"gnkikdng" gornq{ggu" wpfgt" vjg"Igpguku" Eqnqtu" Nkokvgf" Uvqem" Qrvkqp" Rncp" –" 4238" (“IEN" UQR" 4238”)."hqtogtn{."Igpguku"Eqnqtu"Rtkxcvg"Nkokvgf"Uvqem"Qrvkqp"Rncp"4235"(“IEN"UQR"4235”)0""
" "Wpfgt"Kpfkcp"ICCR."vjg"itcpv"qh"gornq{gg"uvqem"qrvkqpu"tguwnvu"in a charge to our Company’s profit and nquu"ceeqwpv"gswcn"vq"vjg"kpvtkpuke"xcnwg"*yjkej"yknn"coqtvk|g"qxgt"vjg"xguvkpi"rgtkqf"qh"vjgug"uvqem"qrvkqpu+"dcugf"qp"vjg"fkhhgtgpeg"dgvyggp"vjg"hckt"xcnwg"qh"qwt"Gswkv{"Ujctgu"fgvgtokpgf"cv"vjg"fcvg"qh"itcpv"cpf"vjg"gzgtekug"rtkeg0"Qwt"gornq{gg"uvqem"eqorgpucvkqp"gzrgpug."qp"c"eqpuqnkfcvgf"dcuku."coqwpvgf"vq"`";04:"oknnkqp."`"3074"oknnkqp"cpf"`"70;4"oknnkqp"hqt"vjg"Hkuecnu"4238."4237"cpf"4236."tgurgevkxgn{0"Kp"cffkvkqp"vq"vjg"korcev"qp"vjg"rtqhkv"cpf"nquu"ceeqwpv."vjg"gzgtekug"qh"xguvgf"uvqem"qrvkqpu"yknn"fknwvg"vjg"kpvgtguvu"qh"Gswkv{"Ujctgjqnfgtu"*cu"kp"vjg"ecug"qh"cp{"kuuwcpeg"qh"Gswkv{"Ujctgu+0""
" "Hqt"oqtg"kphqtocvkqp"qp"IEN"UQR"4238, see “Ecrkvcn"Uvtwevwtg"–"Gornq{gg"Uvqem"Qrvkqp"Uejgog"–"IEN"UQR"4238” on page"940""
570 Qwt"Eqorcp{"jcu"kuuwgf"Gswkv{"Ujctgu"fwtkpi"vjg"rtgegfkpi"{gct"cv"c"rtkeg"yjkej"oc{"dg"dgnqy"vjg"Qhhgt"Rtkeg0"
"Kp"vjg"34"oqpvju"rtgegfkpi"vjg"hknkpi"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."qwt"Eqorcp{"jcu"kuuwgf"Gswkv{"Ujctgu"cv"c"rtkeg"vjcv"oc{"dg"nqygt"vjcp"vjg"Qhhgt"Rtkeg0"Vjg"rtkeg"cv"yjkej"qwt"Eqorcp{"jcu"kuuwgf"Gswkv{"Ujctgu"kp"vjg"rtgegfkpi"{gct"ku"pqv"kpfkecvkxg"qh"vjg"rtkeg"cv"yjkej"vjg{"yknn"dg"kuuwgf"qt"vtcfgf0"Hqt"oqtg"information, see “Ecrkvcn"Uvtwevwtg” on page 8:0""
580 Qwt"hwpfkpi"tgswktgogpvu"cpf"rtqrqugf"fgrnq{ogpv"qh"vjg"rtqeggfu"qh"vjg"Htguj"Kuuwg"ctg"dcugf"qp"ocpcigogpv"guvkocvgu"cpf"jcxg"pqv"dggp"kpfgrgpfgpvn{"crrtckugf0""Qwt"hwpfkpi"tgswktgogpvu"cpf"fgrnq{ogpv"qh"vjg"rtqeggfu"qh"vjg"Htguj"Kuuwg"jcxg"pqv"dggp"crrtckugf"d{"cp{" dcpm" qt" hkpcpekcn" kpuvkvwvkqp" qt" qvjgt" kpfgrgpfgpv" cigpe{0" Hwtvjgtoqtg." kp" vjg" cdugpeg" qh" uwej"kpfgrgpfgpv"crrtckucn."qt"vjg"tgswktgogpv"hqt"wu"vq"crrqkpv"c"oqpkvqtkpi"cigpe{"kp"vgtou"qh"vjg"UGDK"KEFT"Tgiwncvkqpu."vjg"fgrnq{ogpv"qh"vjg"Pgv"Rtqeggfu"ku"cv"qwt"fkuetgvkqp0"Cu"tgswktgf"wpfgt"vjg"UGDK"*Nkuvkpi"Obligations and Disclosure Requirements) Regulations, 2015, as amended (“UGDK"Nkuvkpi"Tgiwncvkqpu”)."vjg"Cwfkv"Eqookvvgg"ujcnn"oqpkvqt"vjg"wvknk|cvkqp"qh"vjg"Pgv"Rtqeggfu0""
590 Yg"yknn"pqv"tgegkxg"cp{"rtqeggfu"qh"vjg"Qhhgt"hqt"Ucng"cpf"c"rqtvkqp"qh"vjg"rtqeggfu"qh"vjg"Qhhgt"hqt"Ucng"ku"rtqrqugf"vq"dg"rckf"vq"qpg"qh"qwt"Itqwr"Eqorcpkgu"cpf"qwt"Rtqoqvgt."Ot0"Ucplc{"Mcrqqt0"
"Vjg"Qhhgt"kpenwfgu"cp"Qhhgt"hqt"Ucng"qh"wr"vq"3.;38.963"Gswkv{"Ujctgu"d{"vjg"Ugnnkpi"Ujctgjqnfgtu0"Vjg"gpvktg"rtqeggfu"qh"vjg"Qhhgt"hqt"Ucng"yknn"dg"vtcpuhgttgf"vq"vjg"Ugnnkpi"Ujctgjqnfgtu"cpf"yknn"pqv"tguwnv"kp"vjg"etgcvkqp"qh"xcnwg"hqt"wu"qt"kp"tgurgev"qh"{qwt"kpxguvogpv"kp"qwt"Eqorcp{0""
"Hwtvjgt."qwt"Eqorcp{"rtqrqugu"vq"wvknk|g"vjg"rtqeggfu"qh"vjg"Htguj"Kuuwg"vq"rwtejcug"gswkv{"ujctgu"qh"INH"ewttgpvn{"jgnf"d{"Urngpfqt"Fkuvtkdwvkqpu"Nvf."qpg"qh"qwt"Itqwr"Eqorcpkgu."cpf"qwt"Rtqoqvgt."Ot0"Ucplc{"Mcrqqt."cpf"vjgtghqtg."uwej"rqtvkqp"qh"vjg"Pgv"Rtqeggfu"yknn"pqv"tguwnv"kp"vjg"etgcvkqp"qh"cp{"vcpikdng"cuugvu"hor our Company. For further details on the utilization of the Net Proceeds, see “Qdlgevu"qh"vjg"Qhhgt” on rcig":50"""
"
54""""
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57""""
knformation is entirely dependent on the investor’s level of familiarity with Indian accounting practices. Cp{"tgnkcpeg"d{"rgtuqpu"pqv"hcoknkct"ykvj"Kpfkcp"ceeqwpvkpi"rtcevkegu"qp"vjg"hkpcpekcn"fkuenquwtgu"rtgugpvgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ujqwnf"ceeqtfkpin{"dg"nkokvgf0"
"Further, India has decided to adopt the “Convergence of its existing standards with IFRS”. These IFRS based / synchronized Accounting Standards are referred to in India as “KPF"*CU+”. Public companies in Kpfkc."kpenwfkpi"qwt"Eqorcp{."yqwnf"dg"tgswktgf"vq"rtgrctg"cppwcn"cpf"kpvgtko"hkpcpekcn"uvcvgogpvu"wpfgt"KPF"*CU+"kp"ceeqtfcpeg"ykvj"vjg"tqcfocr"hqt"vjg"eqpxgtigpeg"ykvj"KHTU"cppqwpegf"d{"vjg"Okpkuvt{"qh"Corporate Affairs, GoI (the “OEC”), through press note dated January 22, 20120"Vjg"OEC"jcu"kuuwgf"vjg"Eqorcpkgu" *Kpfkcp" Ceeqwpvkpi"Uvcpfctfu+"Twngu." 4237"qp"Hgdtwct{"38." 4237." ghhgevkxg"Crtkn" 3." 4237."rwtuwcpv"vq"yjkej."KPF"*CU+"ku"ocpfcvqtkn{"crrnkecdng"vq"eqorcpkgu"*gzegrv"dcpmkpi"eqorcpkgu."kpuwtcpeg"eqorcpkgu"cpf"pqp/dcpmkpi"hkpcpekcn"eqorcpkgu+"ghhgevkxg"htqo"*k+"vjg"ceeqwpvkpi"rgtkqfu"dgikppkpi"qp"qt" chvgt" Crtkn" 3." 4238" *ykvj" eqorctcvkxgu" hqt" vjg" rgtkqf" gpfkpi" Octej" 53." 4238" qt" vjgtgchvgt+." hqt"eqorcpkgu"ykvj"pgv"yqtvj"qh"`"7.222"oknnkqp"qt"oqtg="cpf"*kk+"vjg"ceeqwpvkpi"rgtkqfu"dgikppkpi"qp"qt"chvgt"Crtkn"3."4239"*ykvj"eqorctcvkxgu"hqt"vjg"rgtkqf"gpfkpi"Octej"53."4239"qt"vjgtgchvgt+"hqt"nkuvgf"qt"vq/dg/nkuvgf"eqorcpkgu"*k0g0"yjqug"gswkv{"cpf1qt"fgdv"ugewtkvkgu"ctg"nkuvgf"qt"ctg"kp"vjg"rtqeguu"qh"dgkpi"nkuvgf"qp"cp{"uvqem"gzejcpig"kp"qt"qwvukfg"Kpfkc+"ykvj"pgv"yqtvj"nguu"vjcp"`"7.222"oknnkqp"cpf"wpnkuvgf"eqorcpkgu"ykvj"pgv"yqtvj"dgvyggp"`"4.722"oknnkqp"cpf"`"7.222"oknnkqp0"Vjgug"tgswktgogpvu"yqwnf"cnuq"crrn{"vq"cp{"jqnfkpi."uwdukfkct{."lqkpv"xgpvwtg"qt"cuuqekcvg"eqorcpkgu"qh"uwej"chqtgogpvkqpgf"eqorcpkgu0"Vjgtghqtg."yg"yknn"pggf"vq"rtgrctg"hkpcpekcn"uvcvgogpvu"kp"ceeqtfcpeg"ykvj"KPF*CU+"hqt"vjg"Hkuecn"uvctvkpi"qp"Crtkn"3."42390""
"Rwtuwcpv"vq"c"UGDK"ektewnct"fcvgf"Octej"53."4238."ykvj"tgurgev"vq"vjg"hkpcpekcn"kphqtocvkqp"vq"dg"kpenwfgf"kp"cp{"qhhgt"fqewogpv"hkngf"ykvj"UGDK"qp"qt"chvgt"Crtkn"3."4238"cpf"wpvkn"Octej"53."4239."qwt"hkpcpekcn"uvcvgogpvu."qp"c"uvcpfcnqpg"cu"ygnn"cu"eqpuqnkfcvgf"dcuku." hqt" vjg"rtgegfkpi"hkxg"{gctu." kpenwfgf" kp" vjku"Ftchv" Tgf"Jgttkpi"Rtqurgevwu"jcxg"dggp"rtgrctgf" kp" ceeqtfcpeg" ykvj" Kpfkcp"ICCR0"Vjgtg"ecp"dg"pq"cuuwtcpeg"vjcv"vjg"cfqrvkqp"qh"KPF"*CU+"yknn"pqv"chhgev"qwt"tgrqtvgf"tguwnvu"qh"qrgtcvkqpu"cpf"yg"jcxg"pqv"cvvgorvgf"vq"swcpvkh{"vjg"fkhhgtgpegu"kp"qwt"hkpcpekcn"uvcvgogpvu"cu"c"tguwnv"qh"vjg"cfqrvkqp"qh"KPF*CU+"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."pqt"jcxg"yg"rtqxkfgf"c"tgeqpeknkcvkqp"qh"qwt"hkpcpekcn"uvcvgogpvu"vq"vjqug" wpfgt" KPF*CU+0" Hwtvjgt." qwt" hkpcpekcn" uvcvgogpvu" tgrqtvgf" wpfgt" KPF*CU+" kp" hwvwtg" ceeqwpvkpi"rgtkqfu"oc{"pqv"dg"fktgevn{"eqorctcdng"ykvj"qwt"hkpcpekcn"uvcvgogpvu"jkuvqtkecnn{"rtgrctgf"wpfgt"Kpfkcp"ICCR." kpenwfkpi" vjqug" fkuenqugf" kp" vjku" Ftchv" Tgf" Jgttkpi" Rtqurgevwu0" Ceeqtfkpin{." qwt" jkuvqtkecn"hkpcpekcn" uvcvgogpvu" kpenwfgf" kp" vjku" Ftchv" Tgf" Jgttkpi" Rtqurgevwu"oc{" pqv" hqto" cp" ceewtcvg" dcuku" vq"eqpukfgt"qwt"ceeqwpvkpi"rqnkekgu"cpf"hkpcpekcn"uvcvgogpvu"vq"dg"cfqrvgf"d{"qwt"Eqorcp{"hqt"hwvwtg"rgtkqfu."yjkej"oc{"fkhhgt"ocvgtkcnn{"htqo"qwt"jkuvqtkecn"hkpcpekcn"uvcvgogpvu0""
"Cp{"hcknwtg"vq"uweeguuhwnn{"cfqrv"KPF"*CU+"oc{"jcxg"cp"cfxgtug"ghhgev"qp"vjg"vtcfkpi"rtkeg"qh"qwt"Gswkv{"Ujctgu0"Oqtgqxgt."qwt"vtcpukvkqp"vq"KPF"*CU+"oc{"dg"jcorgtgf"d{"kpetgcukpi"eqorgvkvkqp"cpf"kpetgcugf"equvu" hqt" vjg" tgncvkxgn{" uocnn" pwodgt" qh" gzrgtkgpegf" ceeqwpvkpi" rgtuqppgn" cxckncdng" cu"oqtg" Kpfkcp"eqorcpkgu"dgikp"vq"rtgrctg"KPF"*CU+"hkpcpekcn"uvcvgogpvu0""
670 Vjg"tgswktgogpvu"qh"dgkpi"c"nkuvgf"eqorcp{"oc{"uvtckp"qwt"tguqwtegu0""
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"As a result, our management’s attention may be diverted from other business concgtpu." yjkej"oc{"cfxgtugn{" chhgev" qwt" dwukpguu." tguwnvu" qh" qrgtcvkqpu" cpf" rtqurgevu0" Kp" cffkvkqp." yg"oc{" pggf" vq" jktg"
"
58""""
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680 SKDu"cpf"Pqp/Kpuvkvwvkqpcn" Kpxguvqtu"ctg"pqv" rgtokvvgf" vq"ykvjftcy"qt" nqygt" vjgkt"Dkfu" *kp" vgtou"qh"swcpvkv{"qh"Gswkv{"Ujctgu"qt"vjg"Dkf"Coqwpv+"cv"cp{"uvcig"chvgt"uwdokvvkpi"c"Dkf"cpf"Tgvckn"Kpfkxkfwcn"Kpxguvqtu"ctg"pqv"rgtokvvgf"vq"ykvjftcy"vjgkt"Dkfu"chvgt"Dkf1Qhhgt"Enqukpi"Fcvg0"
"Rwtuwcpv"vq"vjg"UGDK"KEFT"Tgiwncvkqpu."SKDu"cpf"Pqp/Kpuvkvwvkqpcn"Kpxguvqtu"ctg"tgswktgf"vq"rc{"vjg"Dkf"Coqwpv"qp"uwdokuukqp"qh" vjg"Dkf."cpf"ctg"pqv"rgtokvvgf" vq"ykvjftcy"qt" nqygt" vjgkt"Dkfu" *kp" vgtou"qh"swcpvkv{" qh" Gswkv{" Ujctgu" qt" vjg" Dkf" Coqwpv+" cv" cp{" uvcig" chvgt" uwdokvvkpi" c" Dkf0" Tgvckn" Kpfkxkfwcn"Kpxguvqtu"ecp"tgxkug"vjgkt"Dkfu"fwtkpi"vjg"Dkf1Qhhgt"Rgtkqf"cpf"ykvjftcy"vjgkt"Dkfu"wpvkn"Dkf1Qhhgt"Enqukpi"Fcvg0""
"Vjgtghqtg."SKDu" cpf" Pqp/Kpuvkvwvkqpcn" Kpxguvqtu" yqwnf" pqv" dg" cdng" vq" ykvjftcy" qt" nqygt" vjgkt" Dkfu."pqvykvjuvcpfkpi" cfxgtug" ejcpigu" kp" kpvgtpcvkqpcn" qt" pcvkqpcn" oqpgvct{" rqnke{." hkpcpekcn." rqnkvkecn" qt"geqpqoke"eqpfkvkqpu."qwt"dwukpguu."tguwnvu"qh"qrgtcvkqpu."qt"qvjgtykug."cv"cp{"uvcig"chvgt"vjg"uwdokuukqp"qh"vjgkt"Dkfu0""
690 Qwt"cdknkv{"vq"tckug"hqtgkip"ecrkvcn"oc{"dg"eqpuvtckpgf"d{"Kpfkcp"ncy."yjkej"oc{"cfxgtugn{"chhgev"qwt"dwukpguu."hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu0""
"Under India’s consolidated Foreign Direct Investment Policy (the “Eqpuqnkfcvgf" HFK" Rqnke{”), up to 100% foreign investment is permitted in the “wholesale trading” sector without prior regulatory approval (the “Cwvqocvke" Tqwvg”), subject to the satisfaction of certain conditions." kpenwfkpi" tguvtkevkqpu" qp"yjqngucng" vtcfkpi" qh" iqqfu" coqpi" eqorcpkgu" qh" vjg" ucog" itqwr0" Vjg" HFK" Rqnke{" cnuq" rtqxkfgu" vjg"ogvjqfqnqi{"hqt"ecnewncvkqp"qh"vqvcn"hqtgkip"kpxguvogpv"*k0g0."yjgvjgt"fktgev"qt"kpfktgev"hqtgkip"kpxguvogpv+"kp" cp" Kpfkcp" eqorcp{." yjkej" yqwnf" crrn{" cv" gxgt{" uvcig" qh" kpxguvogpv" *k0g0." kpenwfkpi" fqypuvtgco"kpxguvogpvu+"kp"Kpfkcp"eqorcpkgu"vjcv"ctg"pqv"qypgf"cpf"eqpvtqnngf"d{"Kpfkcp"tgukfgpv"gpvkvkgu0""
"Qwt"Eqorcp{"cpf"qwt"Uwdukfkct{."INH."ctg"dqvj"encuukhkgf"cu"gpicigf"kp"vjg"yjqngucng"vtcfkpi"ugevqt0"Jqygxgt." qwt" lqkpv" xgpvwtg" eqorcpkgu." pcogn{." Dwtdgtt{" Kpfkc" Rtkxcvg" Nkokvgf." X(D" Nkhguv{ng" Kpfkc"Rtkxcvg"Nkokvgf"cpf"Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf."cpf1qt"qwt"kpfktgev"Uwdukfkctkgu."k0g0."Igpguku"Nc"Oqfg"Rtkxcvg" Nkokvgf."INH" Nkhguv{ng" Dtcpfu" Rtkxcvg" Nkokvgf" cpf"ION" Kpfkc" Hcujkqp" Rtkxcvg" Nkokvgf" ctg"engaged in the “single brand product retail trading” sector, and are subject to restrictions on foreign direct kpxguvogpv"kp"ceeqtfcpeg"ykvj"vjg"HFK"rqnke{."yjkej"kpenwfg"6;'"hqtgkip"kpxguvogpv"wpfgt"vjg"cwvqocvke"tqwvg0"Vjgug"lqkpv"xgpvwtgu"jcxg"tgegkxgf"crrtqxcn"htqo"vjg"Hqtgkip"Kpxguvogpv"Rtqoqvkqp"Dqctf"fcvgf"Fgegodgt"9."422;." Lwn{"7."4235"cpf"Hgdtwct{"32."4234." tgurgevkxgn{."cpf"ctg" uwdlgev" vq" vjg" vgtou"cpf"eqpfkvkqpu"qh"uwej"crrtqxcnu."cu"ygnn"cu"vjg"HFK"Rqnke{0"Kp"ceeqtfcpeg"ykvj"vjg"rtqxkukqpu"qh"vjg"HFK"rqnke{"hqt"vjg"ecnewncvkqp"qh"vqvcn"hqtgkip"kpxguvogpv"cpf"uwej"crrtqxcnu."vqvcn"hqtgkip"kpxguvogpv"kp"qwt"Eqorcp{"yknn"eqpvkpwg"vq"dg"tguvtkevgf"vq"6;'"cpf"qwt"Eqorcp{"yknn"pggf"vq"eqpvkpwe to be “owned and controlled” d{"tgukfgpv"Kpfkcp"ekvk|gpu"cpf"Kpfkcp"eqorcpkgu0""
"Uwej"tgiwncvqt{"tguvtkevkqpu"nkokv"qwt"hkpcpekpi"uqwtegu"hqt"qpiqkpi"gzrcpukqp"rncpu"cpf"qvjgt"uvtcvgike"vtcpucevkqpu0"Yg"ecppqv"cuuwtg"{qw"vjcv"cp{"tgswktgf"tgiwncvqt{"crrtqxcnu"hqt"rtqrqugf"qxgtugcu"hwpfkpi"yknn"dg"itcpvgf"vq"wu"ykvjqwv"qpgtqwu"eqpfkvkqpu"qt"kp"c"vkogn{"ocppgt."qt"cv"cnn0"Vq"vjcv"gzvgpv."nkokvcvkqpu"qp"hqtgkip"gswkv{"tckukpi"oc{"jcxg"c"ocvgtkcn"cfxgtug"ghhgev"qp"qwt"dwukpguu."hkpcpekcn"eqpfkvkqp."tguwnvu"qh"qrgtcvkqpu"cpf"rtqurgevu0"
"Tkumu"Tgncvgf"vq"qwt"Gswkv{"Ujctgu"
"
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"
59""""
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"Vjg"tgvckn"kpfwuvt{"kpenwfgu"crrctgn"*nwzwt{"cpf"pqp/nwzwt{+."gngevtqpkeu."eqooqfkvkgu."cpf"ceeguuqtkgu0"Kv"ycu"xcnwgf"cv"WU"&822"Dknnkqp"cpf"eqpvtkdwvgf"32'"vq"vjg"IFR"cpf":'"qh"vjg"qxgtcnn"yqtmhqteg"qh"Kpfkc."kp"42370"Vjg"qticpk|gf"tgvckn"ugevqt"vjcv"itgy"cv"c"ECIT"qh"42'"in FY’09/35"ku"gzrgevgf"vq"ceeqwpv"hqt"46'"qh"vjg"octmgv"d{"42420""Qxgtxkgy"qh"Nwzwt{"Tgvckn"kp"Kpfkc"
"
63""""
"Kpfkc"ku"qpg"qh"vjg"hcuvguv"gogtikpi"octmgvu"hqt"nwzwt{"rtqfwevu0"Kp"4232."vjg"Kpfkcp"nwzwt{"octmgv"ycu"yqtvj"KPT"76.328"Oknnkqp"cpf"tgcejgf"KPT"385.:29"Oknnkqp"d{"4237."cv"c"ECIT"qh"cdqwv"46'0"Vjku"ku"crrtqzkocvgn{"2087'"qh"vjg"inqdcn"nwzwt{"octmgv."yjkej"ycu"yqtvj"qxgt"KPT"47.222"Dknnkqp"*4237+0"""C"eqodkpcvkqp"qh"kpetgcukpi"wtdcpk|cvkqp."{qwvj/ftkxgp"fgoqitcrjkeu."cpf"c"uwtig"kp" vjg"okffng/kpeqog"encuu"rqrwncvkqp"yknn"ftkxg"vjg"fgocpf"hqt"rtgokwo"1"dtkfig"vq"nwzwt{"cpf"nwzwt{"rtqfwevu"cpf"ugtxkegu0"Vjg"uwtig"kp"vjg"okffng/kpeqog"eqpuwogtu"cpf"vjg"chhnwgpv"encuu"yknn"eqpvkpwg"kp"vjg"eqokpi"fgecfg0"Kpfkcpu"kp"vjgkt"52u"cpf"62u"jcxg"vjg"jkijguv"kpeqog"kp"vjg"eqwpvt{"cpf"eqortkug"cnoquv"92'"qh"vjg"rgqrng"kp"vjg"vqr"kpeqog"dtcemgv0""JPK"cpf"WJPK<"jkij"urgpfgtu"qp"nwzwt{"iqqfu""Vjg"JPK"cpf"WJPK"eqpuwogtu"ctg"ujqykpi"kpetgcukpi"kpvgtguv"kp"nwzwt{"iqqfu0"""[qwpigt"WJPKu."ykvj"jkij"fkurqucdng"kpeqogu"cpf"corng"ejqkeg"qh"nwzwt{"qrvkqpu."ctg"wuwcnn{"jkij"urgpfgtu0"Vjg"kpetgcug"kp"vjg"WJPK"rqrwncvkqp"yknn"rtqxkfg"c"dqquv"kp"vjg"nwzwt{"urgpfkpi."tguwnvkpi"kp"cp"kpetgcug"kp"vjg"fgocpf"qh"nwzwt{"rtqfwevu"cpf"cp"kpetgcug"kp"vjg"nwzwt{"dtcpf"qwvngvu"kp"vjg"eqwpvt{0""Oquv"qh"vjg"WJPK"urgpfkpi"ecvgiqtkgu"jcu"uggp"cp"kpetgcug"cu"lgygnt{."crrctgn."cpf"gngevtqpkeu"eqpvkpwg"vq"dg"cv"vjg"vqr."ceeqwpvkpi"hqt"pgctn{"72'"qh"vqvcn"urgpfu"d{"uwej"WPJK0"Fgurkvg" vjg"cvvtcevkqp"qh"ujqrrkpi"kp"hqtgkip"fguvkpcvkqpu."ocp{"qh"vjgo"rtghgt"vq"ujqr"ykvjkp"Kpfkc."cu"oquv"oclqt"hqtgkip"nwzwt{"dtcpfu"ctg"pqy"cxckncdng"nqecnn{0""Kpetgcukpi"rgt"ecrkvc"kpeqog""Cp"kpetgcug"kp"vjg"qxgtcnn"rgt"ecrkvc"kpeqog"jcu"tguwnvgf"kp"tkug"qh"rgt"ecrkvc"fkurqucdng"kpeqog"kp"vjg"eqwpvt{."yjkej"kpetgcugf"cv"c"ECIT"qh"32'"htqo"`"95.698"kp"4234"vq"`"329.933"kp"42380"Cu"rgt"c"tgegpv"CUUQEJCO"uvwf{."vkgt/KK"cpf"vkgt/KKK"ekvkgu"yknn"dg"vjg"wreqokpi"jkij"fkurqucdng"kpeqog"ekvkgu"ykvj"itgcvgt"rwtejcukpi"rqygt"rctkv{."jkijgt"Kpvgtpgv"rgpgvtcvkqp."cpf"cp"kpetgcukpin{"dtcpf/eqpuekqwu"{qwpi"rqrwncvkqp0""Tgcn"Guvcvg<"Tguvtckpv"qp"Nwzwt{"Tgvckn""Fwg"vq"vjg"ejcnngpigu"uwej"cu"tkukpi"tgcn"guvcvg"rtkegu"vjcv"nwzwt{"rnc{gtu"hceg"kp"vjg"ogvtq"ekvkgu."vjg{"jcxg"uvctvgf"nqqmkpi"cv"vjg"okpk/ogvtq"*rqrwncvkqp"dgvyggp"3"Oknnkqp"cpf"6"Oknnkqp+"ekvkgu"hqt"gzrcpukqp"cpf"ekvkgu"uwej"cu"Rwpg."Ejgppck."J{fgtcdcf."Uwtcv."Kpfqtg."cpf"Vjktwxcpcpvjcrwtco"jcxg"ykvpguugf"vjg"cfxgpv"qh"nwzwt{"dtcpfu"kp" tgegpvn{0" C"oclqtkv{"qh" vjg"jkij/gpf"ocnnu1uvqtgu"ctg"ewttgpvn{"dcugf" kp"ogvtqu" uwej"cu"Fgnjk" *62-"uvqtgu+."Owodck"*52-"uvqtgu+."Dgpicnwtw"*47-"uvqtgu+."Ejgppck"*32-"uvqtgu+."cpf"J{fgtcdcf"*8"uvqtgu+0""Fwg"vq"nkokvgf"jkij/gpf"tgvckn"kphtcuvtwevwtg"fgxgnqrogpv"kp"vjgug"vkgt/KK"cpf"vkgt/KKK"ekvkgu."qpnkpg"rwtejcug"1"g/tgvcknkpi"gplq{u"jkijgt"rtqurgevu"jgtg"cpf"kv" ku"cpvkekrcvgf"vjcv" kpetgcugf"kpvgtpgv"rgpgvtcvkqp"cetquu"vkgt/KK"cpf"vkgt/KKK"ekvkgu"cnqpi"ykvj"jkij"fkurqucdng"kpeqog"ujcnn"tguwnv"kp"itqykpi"kpvgtpgv"vtcpucevkqpu0""Nwzwt{"Iqqfu"dgkpi"uqnf"kp"Kpfkc"
"
Ceeguuqtkgu"*uwp"incuugu."equvwog"lgygnt{."ewhhnkpmu."nkijvgtu."cpf"dciu+"cpf"rtgokwo"dgcwv{"cpf"rgtuqpcn"ectg"jcxg"ickpgf"c"ujctg"qh"vjg"qxgtcnn"nwzwt{"iqqfu"ecvgiqt{0"Yjkng"ycvejgu"cpf"lgygnt{."cpf"enqvjkpi"cpf"crrctgn"eqpvkpwg" vq" tgockp" nctig" uwdecvgiqtkgu" cpf" ctg" itqykpi" cv" c" jkij" tcvg" qh" 4608'" cpf" 4503'." tgurgevkxgn{."ceeguuqtkgu"*ECIT"qh"5208'"kp"7"{gctu+"cpf"dgcwv{"cpf"rgtuqpcn"ectg"*ECIT"qh"4:09'"7"{gctu+"jcxg"itqyp"owej"hcuvgt"qxgt"vjg"rcuv"7"{gctu0"Vjku"okijv"dg"fwg"vq"Kpfkcp"eqpuwogtu"dgeqokpi"oqtg"eqpuekqwu"cdqwv"vjgkt"crrgctcpeg."cpf"vcmkpi"oqtg"ectg"qh"vjgougnxgu"cu"ygnn"cu"vtcxgnkpi"oqtg"kp"vjg"tgegpv"vkogu0""Ecvgiqtkgu"qh"Nwzwt{"Iqqfu""30 Crrctgn."Crrctgn"Ceeguuqtkgu."cpf"Hqqvygct""Fgukipgt"crrctgn"jcu"dgeqog"xgt{"rqrwnct"coqpi"Kpfkcp"eqpuwogtu"cpf"chhnwgpv" Kpfkcp"wtdcp"eqpuwogtu"ctg"yknnkpi"vq"urnwtig"cpf"rcorgt"vjgougnxgu"ykvj"fgukipgt"crrctgn"qp"urgekcn"qeecukqpu"uwej"cu"ygffkpiu."hwpevkqpu."uqekcn"icvjgtkpiu."cpf"rctvkgu0"Fgukipgt"uctggu"cpf"Kpfkcp"ftguugu"ctg"dgeqokpi"rqrwnct"rctv{"ygct"coqpi"Kpfkcp"women, which has helped in the growth of a number of designer labels in the country. Men’s designer jeans
"
64""""
ykvpguugf"vjg"hcuvguv"tgvckn"xcnwg"itqyvj"qh"56'"kp"4237"ykvj"ucngu"tgcejkpi"`"3.;22"Oknnkqp0"Vjg"chhnwgpv"wtdcp"Kpfkcp"ocng"ku"oqtg"eqpuekqwu"cdqwv"jku"nqqmu"cpf"uv{ng"vjcp"gxgt"dghqtg"cpf"fgukipgt"lgcpu"ku"qpg"rtqfwev"vjcv"jg"is willing to spend on as it can then be mixed and matched with tops and other accessories. Men’s designer tops tgikuvgtgf" vjg"unqyguv" tgvckn"xcnwg"itqyvj"qh"38'"kp"4237"ykvj"ucngu"tgcejkpi"`"4.622"oknnkqp0"Vjg"itqyvj"qh"designer tops has been slow due to the existence of a large range of premium men’s tops brands in the country cpf"eqpuwogtu"vgpf"vq"rwtejcug"vjgug"rtgokwo"dtcpfu."kpuvgcf"qh"kpxguvkpi"kp"fgukipgt"vqru0""Eqorgvkvkxg"Ncpfuecrg""Dwtdgtt{"gplq{u"jkijguv"octmgv"ujctg"qh"9'"kp"vjku"htciogpvgf"nwzwt{"crrctgn"cpf"hqqvygct"octmgv0"Vjku"Igpguku"Eqnqtu"rqtvhqnkq"dtcpf"gplq{u"eqodkpgf"octmgv"xcnwg"ujctg"qh"enqug"330:'"*{gct"4237+" kp" nwzwt{"crrctgn"cpf"hqqvygct"ecvgiqt{"kp"Kpfkc."vjg"qvjgt"ngcfkpi"dtcpf"kp"vjg"ecvgiqt{"dgkpi"Fqppc"Mctcp0""40 Nwzwt{"dciu""Vjku"ecvgiqt{"rtkoctkn{"kpenwfgu"ngcvjgt"dciu"*hqt"dqvj"ogp"cpf"yqogp+"cpf"uocnn"iqqfu"nkmg"ycnngvu0"Yqogp"eqpuwogtu"ugg"nwzwt{"ngcvjgt"dciu"cu"uv{ng"uvcvgogpvu"cpf"nqxg"vq"hncwpv"vjgo0"Kp"Kpfkc."nwzwt{"ngcvjgt"iqqfu"ctg"igpgtcnn{"uqnf"xkc"nwiicig"cpf"crrctgn"urgekcnkuv"uvqtgu0"Vjgug"tgockp"vjg"mg{"tgvckn"fkuvtkdwvkqp"ejcppgnu"cu"vjg{"qhhgt"vjg"ykfguv"rtqfwev"tcpigu0"Vjg"oclqtkv{"qh"vjgug"uvqtgu"ctg" nqecvgf"kp"nwzwt{"ujqrrkpi"egpvgtu0"Vjgtg"ku"c"tkukpi"kpvgtguv"kp"nwzwt{"ngcvjgt"iqqfu"coqpi"Kpfkcp"eqpuwogtu0"Vjg"ecvgiqt{"itgy"cv"c"ECIT"qh"4503'"*4232/4237+0""50 Nwzwt{"Ceeguuqtkgu""Nwzwt{"ceeguuqtkgu"ctg."d{"cpf"nctig."rwtejcugf"d{"gpvt{/ngxgn"eqpuwogtu."cu"vjgug"rtqfwevu"qhhgt"vjg"xgt{"hktuv"‘luxury’ experience to consumers as investment here is comparatively lesser than buying a luxury bag or apparel qt"hqqvygct0"Vjku"ecvgiqt{"jcu"xgt{"jkij"“show/qff” value. Consumers who are entering the category of luxwt{"iqqfu"ujqrrkpi"ctg"oqtg"gcigt"vq"hncwpv"vjgkt"nwzwt{"rquuguukqpu."cpf"vjgug"rtqfwevu"ctg"oqtg"qh"ecvgiqt{"ykfvj"ickpgtu"cpf"jgnr"kp"gzrcpfkpi"ecvgiqt{"wucig0"Vjg"ceeguuqtkgu"ecvgiqt{"jcu"ykvpguugf"vjg"jgcnvjkguv"itqyvj."cv"c"ECIT"qh"53'"*jkijgt"vjcp"crrctgn."hqqvygct."cpf"ngcvjgt"iqqfu+"qxgt"vjg"ncuv"7"{gctu."kpfkecvkpi"vjcv"oqtg"cpf"oqtg"Kpfkcp"eqpuwogtu"ctg"dw{kpi"vjgug"rtqfwevu"cpf"ctg"yknnkpi"vq"gzrnqtg"vjg"uvcvwu."uv{ng."cpf"swcnkv{"qhhgtgf"d{"nwzwt{"rtqfwevu0""60 Dtkfig"vq"Nwzwt{"
"Dtkfig"vq"nwzwt{"qt"chhqtfcdng"nwzwt{"rtqfwevu"ecp"dg"fghkpgf"cu"jkij/gpf"rtgokwo"rtqfwevu"ykvj"c"rtkeg"vci"vjcv"ku"c"nkvvng"nguugt"vjcp"nwzwt{"rtqfwevu0"Vjgug"rtqfwevu"cpf"dtcpfu"kpfggf"jcxg"jkij"hncwpv"xcnwg"cpf"cvvtcev"c"jwig"eqpuwogt"dcug"htqo"vjg"wrrgt/okffng"encuu"cpf"wrrgt"encuu"rqrwncvkqp0"Coqpi"vjgug."crrctgn"ku"qpg"qh"vjg"oquv"curktgf/hqt"ecvgiqtkgu0"""Kpfkcp"Gvjpke"ygct"octmgv"
"
Women’s Gvjpke"Ygct""Overall, the women’s ethnic"ygct"octmgv"ku"itqykpi"cv":'"ECIT"*qxgt"pgzv"32"{gctu"uvctvkpi"htqo"4234+"cpf"vjg"dtcpfgf"octmgv"ku"rgiigf"cv"47'"qh"vqvcn"gvjpke"ygct."k0g0"`"395.533"Oknnkqp."d{"{gct"42370"Dtcpfgf"gvjpke"ygct"octmgv"ku"gzrgevgf"vq"itqy"cv"c"jkij"itqyvj"tcvg"qh"62'"kp"vjg"eqokpi"{gctu0""Women’s Kppgtygct"
"Women’s innerwear ycu"yqtvj"`"363.55;"Oknnkqp"kp"4237."itqykpi"cv"ECIT"qh"36'"qxgt"vjg"ncuv"hkxg"{gctu0"Vjg"uwrgt/rtgokwo"ecvgiqt{"*rtkegf"cv"`"5.222"cpf"cdqxg+"jcu"7'"ujctg"qh" vjku"octmgv"xcnwgf"cv"`"9.298"Oknnkqp."yjgtgcu"vjg"rtgokwo"cpf"dtkfig"vq"nwzwt{"ugiogpvu"*rtkegf"cv"`"3.722/5.222+"gplq{u"37'"ujctg"qh"vjku"octmgv"cpf"ku"xcnwgf"cv"`"43.422"Oknnkqp0""Mg{"Rnc{gtu"kp"vjg"Kpfkcp"Nwzwt{"Iqqfu"Kpfwuvt{"
"Igpguku"Eqnqtu."Tgnkcpeg"Dtcpfu."cpf"FNH"Dtcpfu"ctg"vjg"mg{"rnc{gtu"kp"vjg"nwzwt{"iqqfu"kpfwuvt{0""
"
65""""
Genesis is one of India’s leading fashion retailers in the rtgokwo"cpf" nwzwt{"ugiogpv0"Vjg"eqorcp{"fgukipu."ocpwhcevwtgu."ugnnu."cpf"fkuvtkdwvgu"hcujkqp"cpf"nwzwt{"rtqfwevu"kp"Kpfkc0"Vjg"eqorcp{"jcu"ceswktgf"fkuvtkdwvkqp"tkijvu"hqt"ownvkrng"ngcfkpi"kpvgtpcvkqpcn"nwzwt{"dtcpfu"cpf"jcu"gzenwukxg"fkuvtkdwvkqp"citggogpvu"kp"Kpfkc"hqt"37"kpvgtpcvkqpcn"dtcpfu0""FNH"Dtcpfu"ku"vjg"tgvckn"ykpi"qh" vjg"tgcn"guvcvg"eqorcp{"FNH0"Kv" ku"fkxgtukh{kpi"kvu"rqtvhqnkq"vq"dtkpi"kp"oqtg"ejknfectg."rctgpvkpi."cpf"ceeguuqtkgu"dtcpfu"kpvq"vjg"eqwpvt{0"Vjg"eqorcp{"jcu"vyq"rtgokwo"dtcpfu"kp"vjg"hcujkqp"ecvgiqt{0""
"
""""""
"
66""""
UWOOCT["QH"DWUKPGUU"
"Vjg"hqnnqykpi"kphqtocvkqp"ujqwnf"dg"tgcf"vqigvjgt"ykvj"vjg"oqtg"fgvckngf"hkpcpekcn"cpf"qvjgt"kphqtocvkqp"kpenwfgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."kpenwfkpi"vjg"kphqtocvkqp"eqpvckpgf"kp"vjg"ugevkqpu"titled “Tkum"Hcevqtu”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Hkpcpekcn"Uvcvgogpvu” on pages 38."496"cpf"37;"tgurgevkxgn{0"In this Draft Red Herring Prospectus, references to “revenue from Owned Brands”"kpenwfgu."kp"cffkvkqp"vq"tgxgpwgu"htqo"Ucv{c"Rcwn"cpf"Dy#vej."tgxgpwgu"htqo"rtkxcvg/ncdgn"eqpvtcev"ocpwhcevwtkpi"cpf"fkuvtkdwvkqp" hqt" egtvckp" vjktf/rctv{"dtcpfu" *yjkej" eqpvtkdwvgf" 7074'."30;7'"cpf":058'"vq"qwt"vqvcn"tgxgpwg"htqo"Qypgf"Dtcpfu"kp"Hkuecnu"4236."4237"cpf"4238."tgurgevkxgn{+."uqog"qh"yjkej"yg"jcxg"egcugf"vq"ocpwhcevwtg1fkuvtkdwvg"gkvjgt"dghqtg"qt"ykvj"ghhgev"htqo"Crtkn"3."4238."cu"crrnkecdng0"Hwtvjgt."kp"this Draft Red Herring Prospectus, references to “revenue from International Brands” means tgxgpwgu"htqo"vjg"fkuvtkdwvkqp"cpf"ucng"qh"uwej"kpvgtpcvkqpcn"nwzwt{"cpf"rtgokwo"dtcpfu"cu"ctg"rctv"qh"qwt"rqtvhqnkq"htqo"vkog"vq"vkog."kp"tgurgev"qh"yjkej"yg"jcxg"fkuvtkdwvkqp"tkijvu"kp"Kpfkc0"Cu"qh"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."yg"jcxg"vjg"tkijvu"vq"fkuvtkdwvg"38"uwej"kpvgtpcvkqpcn"dtcpfu."cu"fguetkdgf"kp"oqtg"fgvckn"in “Qwt"Dwukpguu” on rcig"3260""Qxgtxkgy"
"Yg"ctg"c"ngcfkpi"rncvhqto"hqt"nwzwt{"cpf"rtgokwo"dtcpfu"kp"Kpfkc0"*Uqwteg<"H(U"Tgrqtv+"Yg"fkuvtkdwvg"kp"vjg"Kpfkcp"octmgv." uqog"qh" vhe world’s marquee international luxury brands and our own brands, Ucv{c"Rcwn"cpf"Dy#vej"(which we refer to as our “Qypgf"Dtcpfu”), with products across the apparel, accessories, travel and nkhguv{ng"ugiogpvu."vjtqwij"c"pgvyqtm"qh";:"GDQu"cetquu"Kpfkc"cu"ygnn"cu"vjtqwij"nctig"hqtocv"tgvckn"qwvngvu"cpf"qvjgt"fkuvtkdwvkqp"ejcppgnu"kp"vjg"ecug"qh"qwt"Qypgf"Dtcpfu0"Qwt"rqtvhqnkq"qh"kpvgtpcvkqpcn"nwzwt{"dtcpfu"kpenwfgu"vjg"Ctocpk"dtcpfu"*Ikqtikq"Ctocpk."Gorqtkq"Ctocpk."Ctocpk"Lgcpu"cpf"C~Z"Ctocpk"Gzejcpig+."Dqvvgic"Xgpgvc."Dwtdgtt{."Ecpcnk."Eqcej."Hwtnc."I/Uvct"Tcy."Jwiq"Dquu."Lkoo{"Ejqq."Okejcgn"Mqtu."Rcwn"Uokvj."Vwok" cpf"Xknngtq{"("Dqej"(which we refer to as the “Kpvgtpcvkqpcn"Dtcpfu”). Under our arrangements with these brands yg"jcxg"tkijvu"vq"fkuvtkdwvg"vjgkt"rtqfwevu"kp"Kpfkc"cetquu"xctkqwu"ejcppgnu0"Qwt"Qypgf"Dtcpf."Ucv{c"Rcwn."qhhgtu"rtqfwevu"cetquu"vjg"rtgokwo"crrctgn"cpf"ceeguuqtkgu"ecvgiqtkgu"hqt"yqogp"cpf"ogp"cpf"ku"qpg"qh" vjg"ngcfkpi"dtcpfu"kp"Kpfkc"kp"vjg"dtcpfgf"gvjpke"ygct"ecvgiqt{0"*Uqwteg<"H(U"Tgrqtv+"Dy#vej"ku"qpg"qh"vjg"mg{"dtcpfu"kp"vjg"hcuv"itqykpi"dtcpfgf"rtgokwo1dtkfig"vq"nwzwt{"nkpigtkg"ecvgiqt{"kp"Kpfkc0"*Uqwteg<"H(U"Tgrqtv+"Yg"dgnkgxg"vjcv"ykvj"qwt"fkxgtug"rqtvhqnkq"qh"dtcpfu."yjkej"qhhgtu"c"ykfg"tcpig"qh"yguvgtp"cpf"gvjpke"Kpfkcp"rtqfwevu."yg"ctg"ygnn"rqukvkqpgf"vq"kphnwgpeg"vjg"rwtejcukpi"rcvvgtpu"qh"vjg"chhnwgpv"Kpfkcp"eqpuwogt0""Yg"rkqpggtgf"vjg"eqpegrv"qh" nwzwt{"tgvcknkpi" kp"Kpfkc"d{"ceswktkpi"fkuvtkdwvkqp"tkijvu"hqt"ngcfkpi"kpvgtpcvkqpcn"nwzwt{" dtcpfu" yjkej" yqwnf" dg" crrgcnkpi" vq" Kpfkcp" nwzwt{" eqpuwogtu0" *Uqwteg<" H(U" Tgrqtv+" Qwt" fggr"wpfgtuvcpfkpi"qh"vjg"vcuvg"cpf"rtghgtgpegu"qh"vjg"Kpfkcp"eqpuwogt"qh"nwzwt{"rtqfwevu"jgnru"wu"dtkpi"vq"vjg"Kpfkcp"octmgv"c"ugngevkqp"qh"ogtejcpfkug"vcknqtgf"vq"nqecn"cguvjgvkeu"htqo"dtcpfu"vjcv"yg"rgtegkxg"vq"dg"tgngxcpv"vq"vjg"octmgv."cetquu"xctkqwu"rtkeg"rqkpvu"ykvjkp"vjg"nwzwt{"ugiogpv0"Cu"qp"Cwiwuv"53."4238."qwt"Kpvgtpcvkqpcn"Dtcpfu"ygtg" uqnf"cv"79"GDQu"cetquu"ugxgp"Kpfkcp"ekvkgu0"Cv" vjg"GDQu"qrgtcvgf"d{"qwt"Uwdukfkctkgu."cpf" vjtqwij"qwt"htcpejkugg" hqt" vjg"qvjgt"GDQu."yg" hqewu"qp"gpuwtkpi"fgnkxgt{"qh" c" ujqrrkpi"gzrgtkgpeg" vjcv" ku"eqorctcdng" vq"inqdcn" uvcpfctfu."ykvj" vjg" ncvguv"eqnngevkqpu"cv"eqorgvkvkxg"rtkegu" kp" c" nwzwtkqwu" ujqrrkpi"gpxktqpogpv0"Vjgug"hcevqtu."vqigvjgt"ykvj"qwt"cdknkv{"vq"qhhgt"ceeguu"vq"cp"chhnwgpv"cpf"nq{cn"enkgpvgng"cpf"rtgokwo"tgcn"guvcvg."ocmgu"wu"c"rctvpgt"qh"ejqkeg"kp"vjg"Kpfkcp"octmgv"hqt"kpvgtpcvkqpcn"nwzwt{"dtcpfu."qp"xkcdng"vgtou0"Yg"jcxg"gpvgtgf"kpvq"lqkpv"xgpvwtg"citggogpvu"ykvj" vjg"dtcpf"qypgtu"qh"Dwtdgtt{."Ecpcnk"cpf"Xknngtq{"("Dqej."rwtuwcpv" vq"yjkej."rtqfwevu"qh"vjgug"dtcpfu"ctg"uqnf"cv"uvqtgu"qrgtcvgf"d{"vjg"tgurgevkxg"LXu0"Yg"fkuvtkdwvg"vjg"qvjgt"Kpvgtpcvkqpcn"Dtcpfu" vjtqwij" vjktf/rctv{" htcpejkuggu" crrqkpvgf"d{" wu" qt" vjtqwij" egtvckp" qh" qwt" Uwdukfkctkgu0" Yg" jcxg" cnuq"tgegpvn{."kp"Crtkn"4238."gpvgtgf"kpvq"c"rctvpgtujkr"ykvj"Vcvc"Wpkuvqtg"Nkokvgf."vq"vctigv"vjg"nwzwt{"eqpuwogt"qp"vjg"kpvgtpgv"kp"Kpfkc."vjtqwij"vjg"qpnkpg"rncvhqto"Vcvc"Enks."c"ewtcvgf"octmgvrnceg"hqt"nwzwt{"dtcpfu"vq"ugnn"rtqfwevu"vjtqwij"fgfkecvgf"qpnkpg"uvqtghtqpvu0""Ykvj"tgurgev"vq"qwt"Qypgf"Dtcpfu."yg"jcxg"itqyp"Ucv{c"Rcwn."yjkej"ycu"ceswktgf"d{"wu"kp"4224."htqo"c"yqogp/hqewugf"dtcpf"vq"qpg"qh"vjg"ngcfkpi"dtcpfu"kp"Kpfkc"kp"vjg"dtcpfgf"gvjpke"ygct"ecvgiqt{."ykvj"rtqfwevu"cetquu"vjg"crrctgn"cpf"ceeguuqtkgu"ecvgiqtkgu0"Ucv{c"Rcwn"is positioned as “affordable luxury wear” and is recognized for its xkdtcpv"cpf"eqnqwthwn"rtkpvu"cpf"fgukipu0"Yg"jcxg"dggp"uweeguuhwn"kp"gzrcpfkpi"vjg"fgoqitcrjke"rtqhkng"qh"vctigv"ewuvqogtu" hqt" Ucv{c" Rcwn" rtqfwevu" d{" fgxgnqrkpi" vjg" ceeguuqtkgu" rtqfwev" rqtvhqnkq" wpfgt" vjg" dtcpf" cpf" d{"tgcejkpi"qwv"vq"{qwpigt."eqpvgorqtct{"ewuvqogtu"vjtqwij"qwt"tgegpvn{"ncwpejgf"rtgv"nkpg"qh"kpfq/yguvgtp"hwukqp"uknjqwgvvgu."wpfgt" vjg"dtcpf"Enwd"UR0"Satya Paul’s"rtqfwev"rqtvhqnkq" kpenwfgu"rtkpvgf"cpf"godtqkfgtgf"uctggu."tgcf{" vq"ygct"crrctgn."dtkfcn"ygct" hqt"yqogp"cpf"ceeguuqtkgu" kpenwfkpi"uectxgu."dciu." vkgu."dgnvu."ycnngvu"cpf"ewhhnkpmu."hqt"ogp"cpf"yqogp0"Hwtvjgt."yg"ncwpejgf"Dy#vej" kp"4229."yjgp"yg"rgtegkxgf"c"ukipkhkecpv"octmgv"
"
67""""
qrrqtvwpkv{"kp"vjg"rtgokwo"dtcpfgf"nkpigtkg"ugiogpv."yjkej"ku"c"hcuv"itqykpi"ecvgiqt{"kp"Kpfkc"*Uqwteg<"H(U"Tgrqtv+0"Rtqfwev"ecvgiqtkgu"wpfgt"vjg"Dy#vej"dtcpf"kpenwfg"nkpigtkg."kppgtygct."ujcrgygct."pkijvygct."uykoygct"cpf"ceeguuqtkgu0""Ucv{c"Rcwn"cpf"Dy#vej"rtqfwevu"ctg"eqpegrvwcnk|gf."fgukipgf"cpf"fgxgnqrgf"d{"qwt"kp/jqwug"vgco0"Cnn"crrctgn"cpf"egtvckp"hcdtke"dcugf"ceeguuqtkgu"wpfgt"vjg"Ucv{c"Rcwn"dtcpf"cpf"egtvckp"Dy#vej"rtqfwevu"ctg"ocpwhcevwtgf"cv"hceknkvkgu"ukvwcvgf"kp"Jct{cpc"*Iwticqp"cpf"Ocpguct+."Kpfkc0"Yg"fkuvtkdwvg"qwt"Qypgf"Dtcpfu"vjtqwij"xctkqwu"ucngu"cpf"fkuvtkdwvkqp"ejcppgnu"kp"Kpfkc."kpenwfkpi"htcpejkugg"qrgtcvgf"GDQu."ujqr/kp/ujqru"kp"nctig"hqtocv"ownvk/dtcpf"uvqtgu."kpvgtpgv"ucngu"rncvhqtou."cu"ygnn"cu."kp"vjg"ecug"qh"Ucv{c"Rcwn."vjtqwij"vjg"eqtrqtcvg"ucngu"ejcppgn0"Cu"qp"Cwiwuv"53."4238."Ucv{c"Rcwn"rtqfwevu"ygtg"uqnf"cv"5:"uwej"GDQu"cetquu"3;"ekvkgu"cpf";;"ujqr/kp/ujqru"cetquu"Kpfkc0"Cffkvkqpcnn{."Ucv{c"Rcwn"rtqfwevu"ygtg"cnuq"uqnf"qpnkpg"cv"yyy0ucv{crcwn0eqo"cpf"hkxg"qvjgt"kpvgtpgv"ucngu"rncvhqtou." cu"ygnn"cu" kpvgtpcvkqpcnn{." kp" vjg"WUC."Ecpcfc"cpf"Fwdck." vjtqwij" nqecn"fkuvtkdwvqtu" kp" vjgug"octmgvu0"Dy#vej"rtqfwevu"ygtg"uqnf"cv"vjtgg"uwej"GDQu."374"ujqr/kp/ujqr"qwvngvu"cetquu"3;"ekvkgu"kp"Kpfkc"cpf"443"nqecn"vtcfg"uvqtgu"cetquu"Kpfkc."cpf"vjtqwij"ukz"kpvgtpgv"ucngu"rncvhqtou."cu"qp"Cwiwuv"53."42380""Our consolidated revenue from operations increased from ₹ 5.7;9099"oknnkqp"kp"Hkuecn"2014 to ₹ 6.543084"oknnkqp"kp"Hkuecn"4238."tgrtgugpvkpi"c"ECIT"qh";082'0"Qwt"tgxgpwg"htqo"vjg"Kpvgtpcvkqpcn"Dtcpfu"dwukpguu"kpetgcugf"from ₹ 4.778096"oknnkqp"kp"Hkuecn"4234 to ₹ 5.39;0;6"oknnkqp"kp"Hkuecn"4238."tgrtgugpvkpi"c"ECIT"qh"33074'"cpf"eqortkugf"93028'."95044'"cpf"9507:'"qh"qwt"eqpuqnkfcvgf"tgxgpwg"htqo"qrgtcvkqpu"fwtkpi"Hkuecnu"4236."4237"cpf"4238."tgurgevkxgn{0"Qwt"tgxgpwg"htqo"Qypgf"Dtcpfu"ugiogpv"kpetgcugf"htqo"₹ 3.263025"oknnkqp"kp"Hkuecn"2014 to ₹ 1,141.6:"oknnkqp"kp"Hkuecn"4238."tgrtgugpvkpi"c"ECIT"qh"6094'"cpf"eqortkugf"4:0;6'."4809:'"cpf"48064'"qh"qwt"eqpuqnkfcvgf"tgxgpwg"htqo"qrgtcvkqpu"fwtkpi"Hkuecnu"4236."4237"cpf"4238."tgurgevkxgn{0"Qwt"qxgtcnn"GDKVFC"kncreased from ₹ 120.27 million in Fiscal 2014 to ₹ 644088"oknnkqp"kp"Hkuecn"4238."cv"c"ECIT"qh":90:5'0""Qwt"Octmgv"Qrrqtvwpkv{"""Ceeqtfkpi"vq"vjg"H(U"Tgrqtv."Kpfkc"ku"qpg"qh"vjg"hcuvguv"gogtikpi"octmgvu"hqt"nwzwt{"rtqfwevu0"Vjg"Kpfkcp"nwzwt{"octmgv"jcu"itqwn from ₹ 54,328"oknnkqp"in 2010 to ₹ 385.:29"oknnkqp"kp"4237."cv"c"ECIT"qh"crrtqzkocvgn{"46'0"Vjg"dkiiguv"eqpvtkdwvqt"vqyctfu"octmgv"itqyvj"ku"vjg"ygcnvj{"rqrwncvkqp"qh"vjg"eqwpvt{0"Kpfkc"jcu"qxgt"vyq"oknnkqp"jqwugjqnfu"gctpkpi"qxgt"WU&"322.222"cppwcnn{0"Kv"ku"gzrgevgf"vjcv"d{"vjg"{gct"4242."vjg"pwodgt"qh"Kpfkcp"wnvtc/jkij"pgv/yqtvj"jqwugjqnfu"*ykvj"ygcnvj"qh"WU&"52"oknnkqp"cpf"cdqxg+"yknn"kpetgcug"vq"56:.2220"Kpfkc"tcpmu"vjktf"kp"vgtou"qh"cduqnwvg"kpetgcug"kp"vjg"pwodgt"qh"WJPK."yjkej."dgvyggp"4227"cpf"4237."tqug"htqo"3.58:"vq"8.2420"Kp"vgtou"qh"WJPK."Owodck"cpf"Fgnjk"ctg"tcpmgf"cv"43"cpf"55."tgurgevkxgn{."qwv"qh";9"ekvkgu"cetquu"vjg"yqtnf"cpf"ctg"gzrgevgf"vq"oqxg"wr"vq"36"cpf"4;."tgurgevkxgn{."d{"42470"Vjku"kpetgcug"kp"vjg"WJPK"yknn"dqquv"vjg"nwzwt{"urgpfkpi"qh"vjku"itqwr"qh"rqrwncvkqp."tguwnvkpi"kp"cp"kpetgcug"kp"vjg"fgocpf"qh"nwzwt{"rtqfwevu"cpf"cp"kpetgcug"kp"vjg"nwzwt{"dtcpf"qwvngvu"kp"Kpfkc0""Kpfkc"ku"vjg"ugeqpf"oquv"rqrwnqwu"eqwpvt{"kp"vjg"yqtnf"cpf"vjg"rqrwncvkqp"ku"gzrgevgf"vq"itqy"cv"vjg"tcvg"qh"303'"qxgt" vjg" pgzv" hkxg" {gctu0"Vjg" pwodgt" qh" {qwpi" kpfkxkfwcnu" *cig" itqwr" qh" 37/56+" cu" c"rgtegpvcig"qh" vjg" vqvcn"rqrwncvkqp"ku"qh"mg{"korqtvcpeg."cu"vjg{"ctg"gzrgevgf"vq"ftkxg"fgocpf."kpenwfkpi"hqt"rtgokwo."dtkfig/vq/nwzwt{"cpf" nwzwt{"rtqfwevu0" Vjg" gzrgevgf" kpetgcug" kp" vjku"rgtegpvcig" cu" ygnn" cu" kpeqog" ngxgnu." fktgevn{" kornkgu" vjg"cxckncdknkv{"qh"rqvgpvkcn"hwvwtg"yqtmhqteg"cpf"eqpugswgpvn{."vjg"rqvgpvkcn"hqt"urgpfkpi"oqpg{0"Kpfkcpu"kp"vjgkt"52u"cpf"62u"jcxg"vjg"jkijguv"kpeqog"kp"vjg"eqwpvt{"cpf"eqortkug"cnoquv"92'"qh"rgqrng"kp"vjg"vqr"kpeqog"dtcemgv0"Cp"kpetgcug" kp" itquu" fkurqucdng" kpeqog" v{rkecnn{" tguwnvu" kp" itgcvgt"rwtejcukpi"rqygt" cpf" c"ejcpig" kp" jqwugjqnf"urgpfkpi"rcvvgtpu0"Hwtvjgt."cu"eqpuwogtu"tkug"wr"kp"gzkuvkpi"ecvgiqtkgu"qh"eqpuworvkqp."vjg{"oqxg"htqo"ejgcrgt"dtcpfu"vq"oqtg"gzrgpukxg"qpgu"qt"fkurnceg"gzkuvkpi"eqpuwocdngu"ykvj"cnvgtpcvkxgu"qh"jkijgt"xcnwg"qt"dqvj0"Cnn"vjgug"hcevqtu"yknn"hwtvjgt"ngcf"vq"cp"kpetgcug"kp"vjg"octmgv"uk|g"qh"vjg"nwzwt{"kpfwuvt{"kp"Kpfkc0""Kp" vgtou"qh"mg{"ecvgiqtkgu"ykvjkp" nwzwt{"rtqfwevu."yjkng"enqvjkpi"cpf"crrctgn"eqpvkpwg" vq"tgockp" c" nctig"uwd/ecvgiqt{."itqykpi"cv"c"jkij"ECIT"qh"4503'"kp"vjg"ncuv"hkxg"{gctu."vjg"ceeguuqtkgu"uwd/ecvgiqt{"jcu"itqyp"cv"c"hcuvgt"fwtkpi"vjg"ucog"rgtkqf."cv"c"ECIT"qh"5208'0"Yqogp"gvjpke"ygct"ku"vjg"nctiguv"uwd/ecvgiqt{"kp"dtkfig/vq/nwzwt{"cpf"rtgokwo"crrctgn."yjkng" nkpigtkg" ku"c" hcuv"itqykpi"ecvgiqt{" kp" vjku"ugiogpv."yjkej" ku"itqykpi"cv"c"ECIT"qh"36'0""Qwt"Uvtgpivju"
"Rctvpgt"qh"ejqkeg"hqt"kpvgtpcvkqpcn"nwzwt{"dtcpfu"""
"
68""""
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"
69""""
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"
6:""""
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72""""
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"""
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Pqvgu"vq"Ecrkvcn"Uvtwevwtg"
"
30 Ujctg"Ecrkvcn"Jkuvqt{"" "*c+ Jkuvqt{"qh"Gswkv{"Ujctg"ecrkvcn"qh"qwt"Eqorcp{"""Vjg"hqnnqykpi"vcdng"ugvu"hqtvj"vjg"jkuvqt{"qh"vjg"gswkv{"ujctg"ecrkvcn"qh"qwt"Eqorcp{0"""
Fcvg"qh"
cnnqvogpv"
Pwodgt"qh"
gswkv{"ujctgu"
Hceg"
xcnwg"
*`+"
Kuuwg"
rtkeg"
*`+"
Pcvwtg"qh"
eqpukfgtcvkqp"
Tgcuqp1"
Pcvwtg"qh"
cnnqvogpv"
Ewowncvkxg"
pwodgt"qh"
gswkv{"ujctgu"
Ewowncvkxg"rckf/
wr"gswkv{"ujctg"
ecrkvcn""
*`+"
Pqxgodgt"45."3;;:"
622" 32" 32" Ecuj" Uwduetkrvkqp"vq"vjg"OqC*3+"
622" 6.222"
Lwn{" 38."3;;;,""
3;;.822" 32" 32" Ecuj" Hwtvjgt"kuuwg*4+"
422.222" 4.222.222"
Lwn{"42."4223" 322.222" 32" 32" Ecuj" Hwtvjgt"kuuwg*5+"
522.222" 5.222.222"
"
8;"
Fcvg"qh"
cnnqvogpv"
Pwodgt"qh"
gswkv{"ujctgu"
Hceg"
xcnwg"
*`+"
Kuuwg"
rtkeg"
*`+"
Pcvwtg"qh"
eqpukfgtcvkqp"
Tgcuqp1"
Pcvwtg"qh"
cnnqvogpv"
Ewowncvkxg"
pwodgt"qh"
gswkv{"ujctgu"
Ewowncvkxg"rckf/
wr"gswkv{"ujctg"
ecrkvcn""
*`+"
Lwn{"7."4226" 922.222" 32" 32" Ecuj" Hwtvjgt"kuuwg*6+"
3.222.222" 32.222.222"
Qevqdgt" 53."4227"
352.;22" 32" 85025" Ecuj" Hwtvjgt"kuuwg*7+"
3.352.;22" 33.52;.222"
33.722" 32" 32" Ecuj" Hwtvjgt"kuuwg*8+"
3.364.622" 33.646.222"
37.:88" 32" 85204:" Ecuj" Hwtvjgt"kuuwg*9+"
3.37:.488" 33.7:4.882"
9.;56" 32" 852042" Ecuj" Hwtvjgt"kuuwg*:+"
3.388.422" 33.884.222"
45.:22" 32" 852047" Ecuj" Hwtvjgt" kuuwg"*;+"
3.3;2.222" 33.;22.222"
Crtkn"3."4228" 56.322" 32" 882" Ecuj" Hwtvjgt"kuuwg*32+"
3.446.322" 34.463.222"
3:.3:4" 32" 882" Qvjgt"vjcp"ecuj"
Hwtvjgt"kuuwg*33+"
3.464.4:4" 34.644.:42"
Oc{"5."4228" 326.387" 32" 942" Ecuj" Hwtvjgt"kuuwg*34+"
3.568.669" 35.686.692"
Lwpg"44."4228" 56."947" 32" 942" Ecuj" Hwtvjgt"kuuwg*35+"
3.5:3.394" 35.:33.942"
Lwn{" 47."4229,"
393.8:4" 32" :95092" Qvjgt"vjcp"ecuj"
Eqpxgtukqp"qh"37.222.222"Rtghgtgpeg"Ujctgu" kpvq"Gswkv{"Ujctgu"
*36+"
3.774.:76" 37.74:.762"
Qevqdgt" ;."422;"
377.4;;" 32" 5.:85073" Ecuj" Hwtvjgt"kuuwg*37+"
3.92:.375" 39.2:3.752"
Fgegodgt"43."4232""
67.677" 32" P0C0" Dqpwu" Dqpwu" kuuwg"kp" vjg"tcvkq"qh"3<37072*38+""
3.975.82:" 39.758.2:2"
Lcpwct{" 5."4235"
3" 32" 8.49404:" Ecuj" Hwtvjgt"kuuwg*39+"
3.975.82;" 39.758.2;2"
Lwpg"3:."4235" 537.872" 32" 3.362073" Ecuj" Tkijvu"kuuwg*3:+"
4.28;.47;" 42.8;4.7;2"
Cwiwuv" 48."4235"
362" 32" 4.364.:79036"
Qvjgt"vjcp"ecuj"
Eqpxgtukqp"qh"522.222"Ugtkgu" C"EERU" kpvq"362" Gswkv{"Ujctgu*3;+"
4.28;.5;;" 42.8;5.;;2"
Octej" 43."4236"
9.528" 32" 32" Ecuj" Cnnqvogpv"rwtuwcpv" vq"gzgtekug" qh"qrvkqpu"itcpvgf" wpfgt"IEN" UQR"4238"*42+"
4.298.927" 42.989.272"
Gswkv{"Ujctgu"kuuwgf"kp"vjg"vyq"{gctu"rtgegfkpi"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"
Octej" 3."4238"
3;.6:6" 32" 32" Ecuj" Tkijvu"Kuuwg*43+"
4.2;8.3:;" 42.;83.:;2"
Ugrvgodgt"36."4238"
:.5:6.978" 32" P0C0" Dqpwu" Dqpwu" kuuwg"kp" vjg"tcvkq"qh"3<6*44+"
32.6:2.;67" 326.:2;.672"
Ugrvgodgt"42."4238"
34:.577" 32" 3.25:088" Ecuj" Eqpxgtukqp"qh"hkxg" ycttcpvu"kpvq" 34:.577"Gswkv{"Ujctgu"
*45+"
32.82;.522" 328.2;5.222"
,Qwt"Eqorcp{"jcu"dggp"wpcdng"vq"vtceg"vjg"hqtou"4"hkngf"kp"tgurgev"qh"vjgug"cnnqvogpv."for further details, see “Tkum"Hcevqtu"–"Uqog"qh"qwt"eqtrqtcvg"tgeqtfu"kpenwfkpi"egtvckp"ugetgvctkcn"tgeqtfu"hqt"vjg"vtcpuhgt"cpf"cnnqvogpv"qh"Gswkv{"Ujctgu"ctg"pqv"vtcegcdng”"qp"rcig"4;0"
*3+" Kpkvkcn"uwduetkrvkqp"vq"vjg"OqC"d{"Ot0"Ucplc{"Mcrqqt."Ot0"L{qvk"Oqjcp"Pctwnc."Ou0"Pcukd"Mcrqqt"cpf"Ou0"Tkvw"Pctwnc"hqt"322"Gswkv{"
"
92"
Ujctgu"gcej0"*4+"" Cnnqvogpv"qh";;.:22"Gswkv{"Ujctgu"gcej"vq"Ot0"Ucplc{"Mcrqqt"cpf"Ot0"L{qvk"Oqjcp"Pctwnc"*5+" Cnnqvogpv"qh";;.;22"Gswkv{"Ujctgu"vq"Ot0"Rwpggv"Pcpfc"cpf"322"Gswkv{"Ujctgu"vq"Ou0"Oggtc"Pcpfc"*6+"" Cnnqvogpv"qh"455.556"Gswkv{"Ujctgu"vq"Ot0"L{qvk"Oqjcp"Pctwnc."455.555"Gswkv{"Ujctgu"vq"Ot0"Ucplc{"Mcrqqt"cpf"455.555"Gswkv{"Ujctgu"
vq"Ot0"Rwpggv"Pcpfc"*7+"" Cnnqvogpv"qh"33;.222"Gswkv{"Ujctgu"vq"Ot0"Ucplc{"Mcrqqt"cpf"33.;22"Gswkv{"Ujctgu"vq"Ot0"L{qvk"Oqjcp"Pctwnc"
*8+" Cnnqvogpv"qh"32.222"Gswkv{"Ujctgu"vq"Ou0"Pcnkpk"Iwrvc"cpf"3.722"Gswkv{"Ujctgu"vq"Ot0"Xktgpfgt"Djcukp""*9+" Cnnqvogpv"qh"37.:88"Gswkv{"Ujctgu"vq"Rtcucf"Cigpvu"Rtkxcvg"Nkokvgf""
*:+" Cnnqvogpv"qh"9.;56"Gswkv{"Ujctgu"vq"Ou0"Xtkpfc"Tclictjkc""
*;+" Cnnqvogpv"qh"45.:22"Gswkv{"Ujctgu"vq"Ot0"Mwndjwujcp"Nqqpf""
*32+" Cnnqvogpv"qh"56.322"Gswkv{"Ujctgu"vq"Ot0"Fggrcm"Oqjcp"Pctwnc"*33+" Cnnqvogpv"qh"3:.3:4"vq"Igpguku"Qxgtugcu"Rtkxcvg"Nkokvgf"cu"rwtejcug"eqpukfgtcvkqp"hqt"vjg"vtcpuhgt"qh"vjg"dwukpguu"qh"Igpguku"Qxgtugcu"
Rtkxcvg"Nkokvgf"vq"qwt"Eqorcp{"rwtuwcpv"vq"cp"citggogpv"hqt"ucng"qh"dwukpguu"fcvgf"Crtil 1, 2006. For further details, see “Jkuvqt{"cpf"Egtvckp"Eqtrqtcvg"Ocvvgtu” on page 3480""
*34+" Cnnqvogpv"qh"326.387"Gswkv{"Ujctgu"vq"L0O0"Hkpcpekcn"Kpxguvogpv"Ocpcigtu"Nkokvgf""
*35" Cnnqvogpv"qh"56.947"Gswkv{"Ujctgu"vq"L0O0"Hkpcpekcn"Kpxguvogpv"Ocpcigtu"Nkokvgf"*36+" Cnnqvogpv"qh"393.8:4"Gswkv{"Ujctgu"vq"L0O0"Hkpcpekcn"Vtwuvgg"Eqorcp{"Rtkxcvg"Nkokvgf"rwtuwcpv"vq"eqpxgtukqp"qh"37.222.222"Rtghgtgpeg"
Ujctgu"*37+" Cnnqvogpv"qh"377.4;;"Gswkv{"Ujctgu"vq"JGR"Ocwtkvkwu"Nkokvgf"*38+" Cnnqvogpv"qh":.9:8"Gswkv{"Ujctgu"vq"Oc{hkgnf"HXEK."Nvf0."42.778"Gswkv{"Ujctgu"vq"Ugswqkc"Ecrkvcn"Kpfkc"Itqyvj"Kpxguvogpvu"K."3.726"vq"
UXD"Ecrkvcn"Rctvpgtu"K"N0R0"(“UXD”)."35.78;"vq"JGR"Ocwtkvkwu"Nkokvgf"cpf"3.262"vq"KER"Jqnfkpiu"K0"*39+" Cnnqvogpv"qh"3"Gswkv{"Ujctg"vq"Dgppgvv."Eqngocp"("Eqorcp{"Nkokvgf"(“DEEN”)"*3:+" Cnnqvogpv"qh"35;.833"Gswkv{"Ujctgu"vq"Ot0"Ucplc{"Mcrqqt."5.622"Gswkv{"Ujctgu"vq"Rtcpcx"Cpucn"("Uqp"JWH"*vjtqwij"kvu"mctvc."Ot0"
Rtcpcx"Cpucn+."5.5;;"Gswkv{"Ujctgu"vq"Ou0"Mwuwo"Cpucn."5.5;;"Gswkv{"Ujctgu"vq"Ou0"Ujggvcn"Cpucn."54.275"Gswkv{"Ujctgu"vq"Oc{hkgnf"HXEK."Nvf0."96.;;4"Gswkv{"Ujctgu" vq"Ugswqkc"Ecrkvcn" Kpfkc"Itqyvj" Kpxguvogpv"Jqnfkpiu" K."6;.738"Gswkv{"Ujctgu"vq"JGR"Ocwtkvkwu"Nkokvgf"cpf";.4:2"Gswkv{"Ujctgu"vq"KER"Jqnfkpiu"K"
*3;+" Cnnqvogpv"qh";4"Gswkv{"Ujctgu"vq"Ugswqkc"Ecrkvcn"Kpfkc"Itqyvj"Kpxguvogpv"Jqnfkpiu"K."5:"Gswkv{"Ujctgu"vq"Oc{hkgnf"HXEK."Nvf0"cpf"32"Gswkv{"Ujctgu"vq"KER"Jqnfkpiu"K"
*42+" Cnnqvogpv"qh"9.528"Gswkv{"Ujctgu"vq"Ot0"Ucplc{"Mcrqqt""*43+"" Cnnqvogpv"qh"5.692"Gswkv{"Ujctgu"vq"Oc{hkgnf"HXEK."Nvf0."8.869"Gswkv{"Ujctgu"vq"Ugswqkc"Ecrkvcn"Kpfkc"Itqyvj"Kpxguvogpvu"K."7.582"
Gswkv{"Ujctgu"vq"JGR"Ocwtkvkwu"Nkokvgf."3.227"Gswkv{"Ujctgu"vq"KER"Jqnfkpiu"K."659"Gswkv{"Ujctgu"vq"Rtcpcx"Cpucn"("Uqp"JWH"*vjtqwij"kvu"mctvc."Ot0"Rtcpcx"Cpucn+."659"Gswkv{"Ujctgu"vq"Ou0"Mwuwo"Cpucn."659"vq"Ou0"Ujggvcn"Cpucn."43;"Gswkv{"Ujctgu"vq"Ot0"Clc{"Ocfcp"cpf"3.694"Gswkv{"Ujctgu"vq"Ugswqkc"Ecrkvcn"Kpfkc"Itqyvj"Kpxguvogpv"Jqnfkpiu"K""
*44+" Cnnqvvogpv"qh"5.545.326"Gswkv{"Ujctgu"vq"Ot0"Ucplc{"Mcrqqt."62"Gswkv{"Ujctgu"vq"Ot0"L{qvk"Oqjcp"Pctwnc."943.:62"Gswkv{"Ujctgu"vq"Oc{hkgnf"HXEK."Nvf0."3.5:4.858"Gswkv{"Ujctgu"vq"Ugswqkc"Ecrkvcn"Kpfkc"Itqyvj"Kpxguvogpvu"K."3.336.:8:"Gswkv{"Ujctgu"vq"JGR"Ocwtkvkwu"Nkokvgf."42:.;::"vq"KER"Jqnfkpiu"K."6"Gswkv{"Ujctgu"vq"DEEN.";2.:::"Gswkv{"Ujctgu"vq"Rtcpcx"Cpucn"("Uqp"JWH"*vjtqwij"kvu"mctvc."Ot0"Rtcpcx"Cpucn+.";2.::6"Gswkv{"Ujctgu"vq"Ou0"Mwuwo"Cpucn.";2.::6"Gswkv{"Ujctgu"vq"Ou0"Ujggvcn"Cpucn.":62.3;8"vq"Ucplc{"Mcrqqt"Vtwuv"*vjtqwij"kvu" vtwuvgg."Ot0"Ucplc{"Mcrqqt+."528.446"Gswkv{"Ujctgu" vq"Ugswqkc"Ecrkvcn"Kpfkc"Itqyvj"Kpxguvogpv"Jqnfkpiu"K."38:.8::"vq"Ugokpct{"Vkg/Wr"Rtkxcvg"Nkokvgf"cpf"67.734"Gswkv{"Ujctgu"vq"Ot0"Clc{"Ocfcp"
*45+"Cnnqvogpv"qh"34:.577"Gswkv{"Ujctgu"vq"DEEN""
*d+ Jkuvqt{"qh"rtghgtgpeg"ujctg"ecrkvcn"qh"qwt"Eqorcp{""
Fcvg"qh"
cnnqvogpv"
Pwodgt"qh"
Rtghgtgpeg"
Ujctgu"
Hceg"
xcnwg"
*`+"
Kuuwg"
rtkeg"
*`+"
Pcvwtg"qh"
eqpukfgtcvkqp"
Tgcuqpu"hqt1"
Pcvwtg"qh"
cnnqvogpv"
Ewowncvkxg"
pwodgt"qh"
rtghgtgpeg"ujctgu"
Ewowncvkxg"rckf/wr"
Rtghgtgpeg"Ujctg"
capital (₹)"
Fgegodgt"49."4228"
32.222.222" 32" 32" Ecuj" Hwtvjgt"kuuwg*3+"
32.222.222" 322.222.222"
Octej" :."4229"
7.222.222" 32" 32" Ecuj" Hwtvjgt"kuuwg"*4+"
37.222.222" 372.222.222"
Lwn{" 47."4229"
15,000,000 preference shares of ₹ 10 each of our Compap{"ygtg"eqpxgtvgf"kpvq"393.8:4"Gswkv{"Ujctgu"cpf"vjg"cwvjqtk|gf"ujctg"ecrkvcn"qh"qwt"Eqorcp{"ycu" tgencuukhkgf" vq"`"387.222.222"fkxkfgf" kpvq"38.722.222"Gswkv{"Ujctgu0"For further details, see “–"Jkuvqt{"qh"Gswkv{"Ujctg"Ecrkvcn"qh"qwt"Eqorcp{” on page 8:0"
Oc{" 44."422:"
Increase in the authorized share capital of our Compny by the creation of 300,005 preference shares of ₹ 1,000 gcej0"Hqt"hwtvjgt"fgvcknu."ugg"“–"Jkuvqt{"qh"Gswkv{"Ujctg"Ecrkvcn"qh"qwt"Eqorcp{” on page 68."
Lwpg" 35."422:"
522.222" 3.222" 3.222" Ecuj" Hwtvjgt"Kuuwg"
*5+"522.222" 522.222.222"
Cwiwuv"48."4235"
522.222"Series A CCPS were converted into 140 Equity Shares. For further details, see “–"Jkuvqt{"qh"Gswkv{"Ujctg"Ecrkvcn"qh"qwt"Eqorcp{” on page 8:0"
Tg/encuukhkecvkqp"qh" vjg" cwvjqtkugf"rtghgtgpeg" ujctg"ecrkvcn" qh" 522.227.222"eqortkukpi"qh" 522.227" Ugtkgu/C"EERU" kpvq"Gswkv{" Ujctgu"d{" etgcvkpi" cwvjqtkugf" gswkv{" ujctg" ecrkvcn" qh" ₹ 522.227.222" fkxkfgf" kpvq" 52.222.722" Gswkv{" Ujctgu" qp"Ugrvgodgt"43."42370"
*3+ Cnnqvogpv"qh"32.222.222"rtghgtgpeg"ujctgu"vq"L0O0"Hkpcpekcn"Vtwuvgg"Eqorcp{"Rtkxcvg"Nkokvgf"*4+ Cnnqvogpv"qh"7.222.222"rtghgtgpeg"ujctgu"vq"L0O0"Hkpcpekcn"Vtwuvgg"Eqorcp{"Rtkxcvg"Nkokvgf"*5+ Cnnqvogpv"qh"3;8.586"Ugtkgu/C"EERU"vq"Ugswqkc"Ecrkvcn"Kpxguvogpv"Kpfkc"Itqyvj"Kpxguvogpv"Jqnfkpiu"K."43.:3:"Ugtkgu/C"EERU"vq"UXD"
Kpfkc"Ecrkvcn"Rctvpgtu"K"N0R0"cpf":3.:3:"Ugtkgu/C"EERU"vq"Oc{hkgnf"HXEK."Nvf0""
40 Gswkv{"Ujctgu"kuuwgf"hqt"eqpukfgtcvkqp"qvjgt"vjcp"ecuj""
"Gzegrv"cu"fgvckngf"dgnqy."pq"Gswkv{"Ujctgu"jcxg"dggp"kuuwgf"hqt"eqpukfgtcvkqp"qvjgt"vjcp"ecuj0"
"
93"
"Fcvg"qh"
cnnqvogpv"
Pwodgt"qh"
gswkv{"
ujctgu"
Hceg"
xcnwg"
*`+"
Kuuwg"rtkeg"
*`+"
Tgcuqpu"hqt"
cnnqvogpv"
Dgpghkvu"ceetwgf"vq"vjg"Eqorcp{"
Crtkn"3."4228" 3:.3:4" 32" 882" Hwtvjgt"kuuwg" Cnnqvogpv"qh"3:.3:4"Gswkv{"Ujctgu"vq"Igpguku"Qxgtugcu" Rtkxcvg" Nkokvgf" cu" rwtejcug"eqpukfgtcvkqp"hqt"vjg"vtcpuhgt"qh"vjg"dwukpguu"qh"Igpguku" Qxgtugcu" Rtkxcvg" Nkokvgf" vq" qwt"Eqorcp{"rwtuwcpv"vq"cp"citggogpv"hqt"ucng"qh"dwukpguu" fcvgf" Crtkn" 3." 42280" Hqt" hwtvjgt"details, see “Jkuvqt{"cpf"Egtvckp"Eqtrqtcvg"Ocvvgtu” on page 3480"
Lwn{"47."4229" 393.8:4" 32" :95092" Eqpxgtukqp" qh"37.222.222"Rtghgtgpeg"Ujctgu""
Cnnqvogpv" qh" 393.8:4" Gswkv{" Ujctgu" wrqp"eqpxgtukqp" qh" 37.222.222" rtghgtgpeg" ujctgu"of ₹ 10 each of our Company that were issued vq" L0O0" Hkpcpekcn" Vtwuvgg" Eqorcp{" Rtkxcvg"Nkokvgf"rwtuwcpv"vq"c"ujctg"uwduetkrvkqp"ewo"ujctgjqnfgtu"citggogpv"fcvgf"Crtkn"3;."4228"gpvgtgf"kpvq"dgvyggp"qwt"Eqorcp{"cpf"L0O0"Hkpcpekcn" Kpxguvogpv"Ocpcigtu"Nkokvgf" cpf"vjg"ngvvgt"citggogpv"fcvgf"Fgegodgt"37."4228"coqpiuv"uwej"rctvkgu"cpf"LO"Hkpcpekcn"Hwpf"
Cwiwuv" 48."4235"
362" 32" 4.364.:79036" Eqpxgtukqp"qh"522.222"Ugtkgu/C"EERU""
Cnnqvogpv" qh" ;4" Gswkv{" Ujctgu" vq" Ugswqkc"Ecrkvcn"Kpfkc"Itqyvj"Kpxguvogpv"Jqnfkpiu"K."5:"Gswkv{"Ujctgu"vq"Oc{hkgnf"HXEK."Nvf0"cpf"32" Gswkv{" Ujctgu" vq" KER" Jqnfkpiu" K." wrqp"eqpxgtukqp" qh" 522.222" Ugtkgu/C" EERU" jgnf"d{"vjgo"rwtuwcpv"vq"vjg"UUUJC"
"Hwtvjgt."qwt"Eqorcp{"jcu"kuuwgf"dqpwu"ujctgu"qp"Fgegodgt"43."4232"cpf"Ugrvgodgt"36."42380"Hqt"hwtvjgt"fgvcknu."see “Pqvgu"vq"Ecrkvcn"Uvtwevwtg"–"Ujctg"Ecrkvcn"Jkuvqt{”"qp"rcig"8:0""50 Kuuwg"qh"Gswkv{"Ujctgu"kp"vjg"ncuv"qpg"{gct"
"
Gzegrv"cu"ugv"hqtvj"dgnqy"qwt"Eqorcp{"jcu"pqv"kuuwgf"Gswkv{"Ujctgu"kp"qpg"{gct"koogfkcvgn{"rtgegfkpi"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
Fcvg"qh"
cnnqvogpv"
Pwodgt"
qh"Gswkv{"
Ujctgu"
kuuwgf"
Hceg"
xcnwg"
(₹)"
Kuuwg"
rtkeg"
(₹)"
Pcogu"qh"cnnqvggu" Tgcuqpu"
hqt"
cnnqvogpv"
Octej"3."4238" 3;.6:6" 32" 32" Cnnqvogpv"qh"5.692"Gswkv{"Ujctgu"vq"Oc{hkgnf"HXEK."Nvf0." 8.869" Gswkv{" Ujctgu" vq" Ugswqkc" Kpfkc"Itqyvj"Kpxguvogpvu"K."7.582"Gswkv{"Ujctgu"vq"JGR"Ocwtkvkwu"Nkokvgf."3.227"Gswkv{"Ujctgu"vq"KER"Jqnfkpiu"K."659"Gswkv{" Ujctgu" vq" Rtcpcx" Cpucn." kp" vjg" ecrcekv{" qh"‘karta’" qh" Rtcpcx" Cpucn" (" Uqp" JWH." 659" Gswkv{"Ujctgu"vq"Ou0"Mwuwo"Cpucn."659"Gswkv{"Ujctgu"vq"Ou0"Ujggvcn"Cpucn."3.694"Gswkv{"Ujctgu" vq"Ugswqkc"Kpfkc"Itqyvj"Kpxguvogpv"Jqnfkpiu"K"cpf"43;"Gswkv{"Ujctgu"vq"Ot0"Clc{"Ocfcp"
Tkijvu"kuuwg"
Ugrvgodgt"36."4238"
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Dqpwu"kuuwg"
"
94"
38:.8::" vq" Ugokpct{" Vkg/Wr" Rtkxcvg" Nkokvgf" cpf"67.734"Gswkv{"Ujctgu"vq"Ot0"Clc{"Ocfcp"
Ugrvgodgt"42."4238"
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"
Rctvkewnctu" Fgvcknu" ""
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4238"
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Exercise price of options in ₹"*cu"qp"vjg"fcvg"qh"itcpv"qh"qrvkqpu+"
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"42'"
"52'"
"62'"
"Xguvkpi"Fcvg<"Crtkn"3."4236"
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5.939"47'" 97'"
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42'""
52'""
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Xguvkpi"Fcvg<"Lwpg3"."4238"
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3.472" 32'""
42'""
52'""
62'""
Xguvkpi"Fcvg<"Qevqdgt"3."4238"
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"
95"
6.472" 32'""
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52'"""
52'"""
Xguvkpi"Fcvg<"Lwpg"3."4239"
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"Xguvkpi"Fcvg<"Lwpg"3."4242"
"32.222" 47'" 47'" 47'" 47'"
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Xguvkpi"Fcvg<"Lwpg"3."423:"
Xguvkpi"Fcvg<"Lwpg"3."423;"
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"
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"" "" "" ""
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*85099+" *840:8+" *48082+" PC"
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"
96"
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"Rctvkewnctu" Octej"53."4236" Octej"53."4237" Octej"53."4238"
Gzgtekug"rtkeg" ₹"32"–"₹ 5.2;2" Pqv"Crrnkecdng" ₹ 5.2;2"
Ujctg"rtkeg" ₹"83:043" Pqv"Crrnkecdng" ₹"4.;53083"
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"
70 Jkuvqt{"qh"Dwknf"wr."Eqpvtkdwvkqp"cpf"Nqem/kp"qh"Rtqoqvgts’ Shareholding "
"
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"
"
97"
Fcvg"qh"
cnnqvogpv1v
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Pwodgt"qh"
Gswkv{"
Ujctgu"
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(₹)"
Kuuwg1rw
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price (₹)"
Eqpukfg
tcvkqp"
Pcvwtg"qh"
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Gswkv{"
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Pqxgodgt"45."3;;:"
322" 32" 32" Ecuj" Uwduetkrvkqp"vq"vjg"OqC"
Pginkikdng" [●]"
Lwn{"38."3;;;"
;;.:22" 32" 32" Ecuj" Hwtvjgt"kuuwg" 20;6" [●]"
Pqxgodgt";."4223"
322" 32" 32" Ecuj" Ceswktgf" htqo" Ou0"Pcukd"Mcrqqt"
Pginkikdng" [●]"
Lwn{"7."4226"
455.555" 32" 32" Ecuj" Hwtvjgt"kuuwg" 4042" [●]"
Qevqdgt"53."4227"
33;.222" 32" 85025" Ecuj" Hwtvjgt"kuuwg" 3034" [●]"
Crtkn"3."4228"
43.222" 32" 32" Ecuj" Ceswkukvkqp" htqo" Ot0"Rwpggv"Pcpfc"
2042" [●]"
Lwn{"8."4228"
3.722" 32" 32" Ecuj" Ceswkukvkqp" htqo" Ot0"Xktgpfgt"Djcukp"
2023" [●]"
Octej":."4229"
32.222" 32" 32" Ecuj" Ceswkukvkqp" htqo" Ot0"Rwpggv"Pcpfc"
202;" ]●]"
Cwiwuv"4."4229"
72.222" 32" 32" Ecuj" Ceswkukvkqp" htqo" Ot0"Rwpggv"Pcpfc"
2069" [●]"
Ugrvgodgt"39."422;"
37.:88" 32" :;7" Ecuj" Ceswkukvkqp" htqo"Rtcucf" Cigpvu" Rtkxcvg"Nkokvgf""
2037" [●]"
Ugrvgodgt"39."422;"
9.;56" 32" :;7" Ecuj" Ceswkukvkqp" htqo" Ou0"Xtkpfc"Tclictjkc"
2029" [●]"
Ugrvgodgt"39."422;"
45.:22" 32" :72" Ecuj" Ceswkukvkqp" htqo" Ot0"Mwndjwujcp"Nqqpf"
2044" [●]"
Ugrvgodgt"39."422;"
32.222" 32" 742" Ecuj" Ceswkukvkqp" htqo" Ou0"Pcnkpk"Iwrvc"
202;" [●]"
Qevqdgt"4;."422;"
*45.895+" 32" 5.934036" Ecuj" Vtcpuhgt" vq" Ugswqkc"Ecrkvcn" Kpfkc" Itqyvj"Kpxguvogpvu"K""
*2044+" [●]"
Qevqdgt"4;."422;"
*36.275+" 32" 5.5:7076" Ecuj" Vtcpuhgt" vq" KER"Jqnfkpiu"K"
*2035+" [●]"
Pqxgodgt"48."422;"
*76.;95+" 32" 5.85:037" Ecuj" Vtcpuhgt"vq"JGR"Ocwtkvkwu"Nkokvgf"
*2074+" [●]"
Pqxgodgt"8."4234"
78.877" 32" ;2" Ecuj" Ceswkukvkqp" htqo" Ot0"Rwpggv"Pcpfc"
2075" [●]"
Pqxgodgt"8."4234"
6.567" 32" ;2" Ecuj" Ceswkukvkqp" htqo" Ot0"Rwpggv"Pcpfc"
2026" "
Oc{"3:."4235"
*3:.::7+" 32" 3.37;087" Ecuj" Vtcpuhgt" vq" Rtcpcx"Cpucn"("Uqp"JWH"
*203:+" [●]"
Oc{"3:."4235"
*3:.::7+" 32" 3.37;087" Ecuj" Vtcpuhgt"vq"Ou0"Mwuwo"Cpucn"
*203:+" [●]"
Oc{"3:."4235"
*3:.::7+" 32" 3.37;087" Ecuj" Vtcpuhgt" vq" Ou0"Ujggvcn"Cpucn"
*203:+" [●]"
Oc{"52."4235"
;2.222" 32" 772" Ecuj" Ceswktgf" htqo" Ot0"L{qvk"Oqjcp"Pctwnc"
20:7" "
Cwiwuv"7."4235"
32;.233" 32" 772" Ecuj" Ceswktgf" htqo" Ot0"L{qvk"Oqjcp"Pctwnc"
3025" [●]"
Lwpg"3:."4235"
35;.833" 32" 3.362073" Ecuj" Tkijvu"kuuwg" 3054" [●]"
Pqxgodgt"36."4235"
*64.394+" 32" 3.99:065" Ecuj" Vtcpuhgt" vq" Ugokpct{"Vkg/Wr" Rtkxcvg"Nkokvgf"
*2062+" [●]"
Octej"43."4236"
9.528" 32" 32" Ecuj" Cnnqvogpv" rwtuwcpv" vq"gzgtekug" qh" qrvkqpu"itcpvgf"wpfgt"vjg"IEN"UQR"4238"*vjgp."IEN"UQR"4235+"
2029" "
"
98"
Fcvg"qh"
cnnqvogpv1v
tcpuhgt"
Pwodgt"qh"
Gswkv{"
Ujctgu"
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(₹)"
Kuuwg1rw
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price (₹)"
Eqpukfg
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qh"rtg/Qhhgt"
Gswkv{"
Ujctg"
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"
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380 377 500 499
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2010 2015 2018 20200-14 years 15-34 years 35-44 years 45-54 years 55-64 years >=65 years
"
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Women’s Gvjpke"Ygct""Overall, the women’s ethnic"ygct"octmgv"ku"itqykpi"cv":'"ECIT"*qxgt"pgzv"32"{gctu"uvctvkpi"htqo"4234+"cpf"vjg"dtcpfgf"octmgv"ku"rgiigf"cv"47'"qh"vqvcn"gvjpke"ygct."k0g0"`"395.533"Oknnkqp."d{"{gct"42370"Dtcpfgf"gvjpke"ygct"octmgv"ku"gzrgevgf"vq"itqy"cv"c"jkij"itqyvj"tcvg"qh"62'"kp"vjg"eqokpi"{gctu0""Mg{"dtcpfu"kp"vjg"rtgokwo"1"dtkfig"vq"nwzwt{"ecvgiqt{"kp"vjg"dtcpfgf"gvjpke"ygct"octmgv"kpenwfg"Ucv{c"Rcwn."Tkvw"Mwoct."Cpkvc"Fqpitg."gve0"Yjkng"dtcpfu"nkmg"Pcnnk"Uknm"Uctggu"ctg"pqv"fktgev"eqorgvkvkqpu"vq"Ucv{c"Rcwn"rtqfwev"tcpig" kp" vgtou" qh"rtqfwev" qhhgtkpi" rgt" ug." vjg{" eqorgvg" cv"rtkeg"rqkpv" cpf" ctg" c"rctv" qh" vqvcn"dtcpfgf" gvjpke"women’s wear. Other brands in the super premium category are Tarun Tahiliani, Sabyasachi" cpf" Tqjkv" Dcn."yjgtgcu"vjgtg"ctg"ownvkrng"dtcpfu"kp"vjg"rtgokwo"ecvgiqt{"uwej"cu"DKDC."Y"cpf"Hcd"Kpfkc."coqpi"qvjgtu0"Ucv{c"Rcwn."qpg"qh"vjg"ngcfkpi"dtcpfu"kp"vjg"dtcpfgf"gvjpke"ygct"octmgv."ku"kpfkecvkpi"itqyvj"qh"cv"c"ECIT"qh"32'"qxgt"rcuv"vjtgg"{gctu."cpf"34'"itqyvj"kp"4238"qxgt"vjg"rtgxkqwu"{gct0"Vjku"itqyvj"tcvg"ku"jkijgt"vjcp"vjg"qxgtcnn"gvjpke"enqvjgu"octmgv"itqyvj0""Women’s Kppgtygct"
"Women’s innerwear ycu"yqtvj"`"363.55;"Oknnkqp"kp"4237."itqykpi"cv"ECIT"qh"36'"qxgt"vjg"ncuv"hkxg"{gctu0"Vjg"uwrgt/rtgokwo"ecvgiqt{"*rtkegf"cv"`"5.222"cpf"cdqxg+"jcu"7'"ujctg"qh" vjku"octmgv"xcnwgf"cv"`"9.298"Oknnkqp."yjgtgcu"vjg"rtgokwo"cpf"dtkfig"vq"nwzwt{"ugiogpvu"*rtkegf"cv"`"3.722/5.222+"gplq{u"37'"ujctg"qh"vjku"octmgv"cpf"ku"xcnwgf"cv"`"43.422"Oknnkqp0"""""
"
325"
Ugiogpvcn"Dtgcm/wr"qh"Women’s Kppgtygct"*`̀"363.55;"Oknnkqp+."4237"
"
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Mg{"Rnc{gtu"kp"vjg"Kpfkcp"Nwzwt{"Iqqfu"Kpfwuvt{"
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"Certain data included in this section and the section titled “Uwooct{"qh"Dwukpguu” on page 66."kp"tgncvkqp"vq"egtvckp"qrgtcvkpi"ogvtkeu."hkpcpekcn"cpf"qvjgt"dwukpguu"kphqtocvkqp"cpf"fcvc"*uwej"cu"vjg" vjg"pwodgt"qh"GDQu."ekv{/ykug"pwodgt"qh"ujqr/kp/ujqru"cpf"nqecn"vtcfg"uvqtgu."pwodgt"qh"wpkswg"rwtejcukpi"ewuvqogtu"cpf"tgrgcv"ewuvqogtu." coqpi" qvjgtu+" jcu" dggp" tgxkgygf" cpf" xgtkhkgf" d{" FOTP" (" Cuuqekcvgu." vjktf/rctv{" Ejctvgtgf"Ceeqwpvcpvu0""In this Draft Red Herring Prospectus, references to “revenue from Owned Brands” includes, in addition to tgxgpwgu"htqo"Ucv{c"Rcwn"cpf"Dy#vej."tgxgpwgu"htqo"rtkxcvg/ncdgn"eqpvtcev"ocpwhcevwtkpi"cpf"fkuvtkdwvkqp"hqt"egtvckp"vjktf/rctv{"dtcpfu"*yjkej"eqpvtkdwvgf"7074'."30;7'"cpf":058'"vq"qwt"vqvcn"tgxgpwg"htqo"Qypgf"Dtcpfu"kp"Hkuecnu"4236."4237"cpf"4238."tgurgevkxgn{+."uqog"qh"yjkej"yg"jcxg"egcugf"vq"ocpwhcevwtg1fkuvtkdwvg"gkvjgt"dghqtg"qt"ykvj"ghhgev"htqo"Crtkn"3."4238."cu"crrnkecdng0"Hwtvjgt."kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."tghgtgpegu"to “revenue from International Brands” means revenues from the distribution and sale of such international nwzwt{"cpf"rtgokwo"dtcpfu"cu"ctg"rctv"qh"qwt"rqtvhqnkq"htqo"vkog"vq"vkog."kp"tgurgev"qh"yjkej"yg"jcxg"fkuvtkdwvkqp"tkijvu" kp" Kpfkc0"Cu"qh" vjg"fcvg"qh" vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."yg"jcxg" vjg" tkijvu" vq"fkuvtkdwvg"38"uwej"kpvgtpcvkqpcn"dtcpfu."cu"fguetkdgf"kp"oqtg"fgvckn"dgnqy0"""
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"
327"
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335"
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336"
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"Cu"fkuvtkdwvqtu"qh" vjg" Kpvgtpcvkqpcn"Dtcpfu" kp"Kpfkc."yg"ctg" v{rkecnn{"tgswktgf" vq"urgpf"c"rtguetkdgf"okpkowo"coqwpv"vqyctfu"cfxgtvkukpi."octmgvkpi"cpf"dtcpf"rtqoqvkqp"cevkxkvkgu"hqt"uwej"dtcpfu0"Yg"wpfgtvcmg"cfxgtvkukpi"cpf"octmgvkpi" ghhqtvu" hqt" vjg" Kpvgtpcvkqpcn" Dtcpfu" vjtqwij" vjg" vtcfkvkqpcn" ogfkc." k0g0" rtkpv"ogfkc" *tgngxcpv"pgyurcrgt" cpf"ocic|kpg" rwdnkecvkqpu+" cpf" qwvfqqt"ogfkc" *dknndqctfu" cv" uwkvcdng" nqecvkqpu+0" Kp" cffkvkqp." yg"wpfgtvcmg"kppqxcvkxg"dtcpf"rtqoqvkqp"cevkxkvkgu"ykvj"cp"cko"vq"dwknf"fggrgt"gpicigogpv"ykvj"vjg"eqpuwogt"cpf"kpetgcug"hqqvhcnnu"cv"vjg"GDQu."uwej"cu"qticpk|kpi"kp"uvqtg/gxgpvu"cv"vjg"vkog"qh"ncwpej"qh"pgy"qt"tghwtdkujgf"GDQu"cpf"htguj"ugcuqp"eqnngevkqpu0"Yg"cnuq"qticpk|g"kp/uvqtg"gzrgtkgpegu"hqt"ewuvqogtu"uwej"cu"ykpg"cpf"ocnv"vcuvkpi"gxgpvu."egngdtkv{"ftguu/wru"cpf"eqpvguvu"cu"rctv"qh"qwt"cfxgtvkukpi."octmgvkpi"cpf"dtcpf"rtqoqvkqp"kpkvkcvkxgu0"Yg"jcxg"dggp"kpetgcukpin{"wukpi"cpf"yknn"eqpvkpwg"vq"wug"qwt"ETO"fcvc"vq"kfgpvkh{"rtqfwevu"vjcv"yg"dgnkgxg"ewuvqogtu"yjq"jcxg"rtgxkqwun{"rwtejcugf"rtqfwevu"cv"vjg"GDQu"qh"cp{"qh"vjg"Kpvgtpcvkqpcn"Dtcpfu"oc{"dg"kpvgtguvgf"kp0"Vjku"gpcdngu"wu"vq"ugpf"ewuvqok|gf"cpf"vctigvgf"gocknu"vq"uwej"ewuvqogtu"ykvj"c"xkgy"vq"etquu"ugnn"rtqfwevu"qh"qvjgt"eqorngogpvct{"Kpvgtpcvkqpcn"Dtcpfu."dwpfng"qhhgtu"eqortkukpi"rtqfwevu"qh"fkhhgtgpv"Kpvgtpcvkqpcn"Dtcpfu"fwtkpi"
"
337"
hguvkxg"ugcuqpu."cu"ygnn"cu"nkswkfcvg"kpxgpvqt{"qh"c"urgekhke"uk|g0"Hwtvjgt."yg"tgiwnctn{"wpfgtvcmg"fkikvcn"cpf"uqekcn"ogfkc"ecorckipu"kp"qtfgt"vq"tgcej"qwv"vq"{qwpi"chhnwgpv"eqpuwogtu0"""Qypgf"Dtcpfu""Kp"Hkuecns 2014, 2015 and 2016, our total revenue from our Owned Brands business were ₹ 3.2830;5"oknnkqp."₹ 3.334096"oknnkqp"cpf"₹ 3.342099"oknnkqp."tgurgevkxgn{."yjkej"ceeqwpvgf"hqt"4;074'."4809:'"cpf"470;5'"qh"qwt"eqpuqnkfcvgf"tgxgpwg"htqo"qrgtcvkqpu."tgurgevkxgn{0"""Ucv{c"Rcwn"
"
Qwt"Qypgf"Dtcpf."Ucv{c"Rcwn."qhhgtu"rtqfwevu"cetquu"vjg"rtgokwo"crrctgn"cpf"ceeguuqtkgu"ecvgiqtkgu"hqt"yqogp"cpf"ogp"cpf"ku"qpg"qh" vjg"ngcfkpi"dtcpfu"kp"Kpfkc"kp"vjg"dtcpfgf"gvjpke"ygct"ecvgiqt{0"*Uqwteg<"H(U"Tgrqtv+"Ucv{c"Rcwn"ku"rqukvkqped as “affordable luxury wear” and the product portfolio under the brand includes printed cpf"godtqkfgtgf"uctggu."rtkpvgf"hcdtkeu."tgcf{"vq"ygct"crrctgn"uwej"cu"uvkvejgf"uwkvu."mwtvku."ftguugu."godtqkfgtgf"dnqwugu"cpf"dtkfcn"ygct"hqt"yqogp"cpf"ceeguuqtkgu"kpenwfkpi"uectxgu."uvqngu."dciu."vkgu."dgnvu."ycnngvu."ewhhnkpmu."hqt"ogp"cpf"yqogp0"""Cnn"Ucv{c"Rcwn"dtcpfgf"rtqfwevu"ctg"eqpegrvwcnk|gf."fgukipgf"cpf"fgxgnqrgf"d{"qwt"kp/jqwug"vgco"cpf"cnn"crrctgn"rtqfwevu" cpf" hcdtke"dcugf" ceeguuqtkgu" kpenwfkpi" vkgu." uectxgu" cpf" uvqngu" ctg"ocpwhcevwtgf"d{" vjktf"rctv{" lqd/yqtmgtu."cv"ocpwhcevwtkpi"hceknkvkgu"ukvwcvgf"cv"Ocpguct"cpf"Iwticqp"kp"Jct{cpc."Kpfkc0"Uwej"crrctgn"rtqfwevu"cpf"vkgu"ctg"fggogf"vq"dg"ocpwhcevwtgf"d{"wu"hqt"vjg"rwtrqug"qh"rc{ogpv"qh"gzekug"fwv{0"Ceeguuqtkgu"*qvjgt"vjcp"vkgu+"ctg"ocpwhcevwtgf"d{"vjktf"rctvkgu"cpf"dtcpfgf"cu"Ucv{c"Rcwn"fwtkpi"vjg"ocpwhcevwtkpi"rtqeguu0""Yg"fkuvtkdwvg"Ucv{c"Rcwn"vjtqwij"xctkqwu"fkuvtkdwvkqp"cpf"ucngu"ejcppgnu"kp"Kpfkc."kpenwfkpi"htcpejkugg/qrgtcvgf"GDQu."ujqr/kp/ujqru"kp"nctig"hqtocv"ownvk/dtcpf"uvqtgu."kpvgtpgv"ucngu"rncvhqtou."cu"ygnn"cu"vjtqwij"vjg"eqtrqtcvg"ucngu"ejcppgn"vjtqwij"cttcpigogpvu"ykvj"egtvckp"eqtrqtcvg"jqwugu"hqt"eqtrqtcvg"ikhvkpi."rtqoqvkqpu"cpf"wpkhqtou0"""Igqitcrjkecn"rtgugpeg"cpf"fkuvtkdwvkqp"ejcppgnu<"Cu"qp"Cwiwuv"53."4238."Ucv{c"Rcwn"rtqfwevu"ygtg"uqnf"cv"5:"GDQu"cetquu"3;"ekvkgu"cpf";;"ujqr/kp/ujqru"cetquu"Kpfkc."kp"cffkvkqp"vq"dgkpi"gzrqtvgf"vq"vjg"WUC."Ecpcfc"cpf"Fwdck0"Hwtvjgt."vjg"rtqfwevu"ctg"uqnf"vjtqwij"kpvgtpgv"ucngu"rncvhqtou."kpenwfkpi"c"vjktf/rctv{"qrgtcvgf"gzenwukxg"ygdukvg"yyy0ucv{crcwn0eqo."cu"ygnn"cu"Lcdqpi."O{pvtc."Upcrfgcn"cpf"Coc|qp0"""Ucv{c"Rcwn"GDQu"ctg"ugv"wr"kp"vjtgg"hqtocvu"–"‘Ucv{c"Rcwn’ stores, ‘Ucv{c"Rcwn"Ceeguuqtkgu’ stores and ‘Enwd"UR’ stores. The ‘Ucv{c"Rcwn’ stores ectt{"qwt"eqorngvg"tcpig"qh"gvjpke"crrctgn"cpf"ceeguuqtkgu"rtqfwevu"hqt"yqogp"cpf"ogp"cpf"ctg"v{rkecnn{"nqecvgf"kp"rtgokgt"ocnnu"cpf"jkij"uvtggv"kp"ogvtqrqnkvcp"cpf"Vkgt"3"ekvkgu0"Vjg"‘Ucv{c"Rcwn"Ceeguuqtkgu’ stores"carry men’s accessories products and are typicann{"nqecvgf"kp"uocnngt"qwvngvu"kp"ocnnu."cu"ujqr/kp/ujqru"ykvjkp"nctig"hqtocv"tgvckn"qwvngvu."cu"ygnn"cu"cv"cktrqtvu"kp"Kpfkc_0"Vjg"tgegpvn{"ncwpejgf"Enwd"UR"dtcpf"uvqtgu."ectt{"c"rtgv"nkpg"qh"kpfq/yguvgtp"hwukqp"uknjqwgvvgu0"Vjg"ocr"dgnqy"tgrtgugpvu"nqecvkqpu"qh"vjg"Ucv{c"Rcwn"GDQu"cetquu"Kpfkc."cu"qh"Cwiwuv"53."42380""
""
"
338"
Fgukip"cpf"rtqfwev"kppqxcvkqp""Cnn"Ucv{c" Rcwn"rtqfwevu" ctg" eqpegkxgf." fgukipgf" cpf" fgxgnqrgf" cv" qwt"oqfgtp" fgukip" uvwfkq" ukvwcvgf" cv" qwt"Tgikuvgtgf" cpf" Eqtrqtcvg" Qhhkeg" kp"Iwticqp0" Yg" jcxg" c" etgcvkxg." gzrgtkgpegf" cpf" umknngf" kp/jqwug" fgukip."fgxgnqrogpv"cpf"ogtejcpfkukpi"vgco"eqortkukpi."cu"qh"Cwiwuv"53."4238."56"rtqhguukqpcnu."kpenwfkpi"hqwt"ockp"fgukipgtu"cpf"qvjgt"vgzvkng"fgukipgtu."crrctgn1hcujkqp"fgukipgtu."ctvyqtm"fgukipgtu"cpf"rgtuqppgn"yjq"wpfgtvcmg"ucorng"vguvkpi."yjq"ctg"tgurqpukdng"hqt"fgxgnqrkpi"pgy"rtqfwevu."kortqxkpi"gzkuvkpi"qpgu"cpf"hqtgecuvkpi"hcujkqp"vtgpfu0"Yg"jcxg"ugrctcvg"fgukip"vgcou"hqt"qwt"vgzvkng"fgukip."itcrjke"fgukip"cpf"godtqkfgt{"fgukip"hqt"qwt"uknm."etgrg." ucvkp." igqtigvvg" cpf" eqvvqp" dngpfgf" rtqfwevu0" Uqog" qh" vjgug" rtqhguukqpcnu" ctg" itcfwcvgu" htqo" tgrwvgf"hcujkqp"cpf"fgukip"kpuvkvwvgu"kp"Kpfkc"cpf"cnuq"jcxg"rtkqt"gzrgtkgpeg"kp"vjg"hcujkqp"cpf"crrctgn"kpfwuvt{0"""Fgxgnqrogpv"qh"kppqxcvkxg"fgukipu"ykvj"xkdtcpv"rtkpvu"cpf"eqnqwt"eqodkpcvkqpu"ku"qwt"eqtg"ctgc"qh"hqewu"kp"vgtou"qh"fgukipkpi0"Qwt"fgukip" vgco" vtcxgnu" vq"xctkqwu"eqwpvtkgu" vq"wpfgtuvcpf" vjg"ewttgpv"hcujkqp" vtgpfu."jcu"fktgev"ceeguu"vq"vjg"ucngu"rgtuqpu"cv"GDQu."fgcngtu"cpf"fkuvtkdwvqtu"cpf"eqpfwevu"tgiwnct"octmgv"uwtxg{u"vq"wpfgtuvcpf"consumer demand and feedback. We send out samples to our distributors and retailers for the coming season’s eqnngevkqp." yjq" kp" vwtp" nkckug" ykvj" nctig" hqtocv" tgvckn" qwvngvu" yjgtg" ujqr/kp/ujqru" hqt" qwt" Qypgf" Dtcpfu" ctg"nqecvgf." cpf" cuegtvckp" vjg" fgocpf" hqt" c"rctvkewnct" fgukip." eqnqwt" qt" vgzvwtg" qh" hcdtke0" Yg" cnuq"rctvkekrcvg" kp"gzjkdkvkqpu"qt"hcujkqp"ujqyu"kp"tgurgev"qh"Ucv{c"Rcwn0"Vjg"fgukipkpi"rtqeguu"kpxqnxgu"ftcykpi"qh"umgvejgu"cpf"creating a “storyboard” of designs to illusvtcvg"vjg"hnqy"qh"vjg"eqnngevkqp."yjkej"ctg"crrtqxgf"d{"vjg"fgukip"jgcf"cpf"ctg"vjgp"wugf"vq"rtqfweg"rtqvq"ucorngu."tqwij"crrctgn"htqo"ucorng"hcdtkeu"wugf"vq"igv"c"rtgnkokpct{"kfgc"qh"vjg"crrctgn0"Yjkng"egtvckp"dcuke"fgukipu"ctg"tgvckpgf"gxgt{"{gct."yg"cnuq"kpvtqfweg"pgy"v{rgu"qh"{ctp."cpf"fkhhgtgpv"vgzvwtgu"qh"hcdtke"kp"vjg"ocmkpi"qh"vjg"rtqfwev."cu"rgt"octmgv"rtghgtgpegu"cpf"vcuvgu0"Hwtvjgt."cv"vkogu"qwt"fgukipgtu"cnuq"etgcvg"pgy"eqnngevkqpu"ctqwpf"rctvkewnct"vjgogu."yjkej"dgeqog"vjg"dcuku"hqt"vjg"ejqkeg"qh"eqnqwtu."hcdtkeu"cpf" qvjgt" ejctcevgtkuvkeu0" Qwt" fgukip" kfgcu" cpf" eqpegrvu" ctg" dcugf" qp" eqpuwogt" hggfdcem." pcvkqpcn" cpf"kpvgtpcvkqpcn"hcujkqp"vtgpfu."cu"ygnn"cu"kpukijvu"htqo"cvvgpfkpi"kpfwuvt{"cpf"hcujkqp"ujqyu1hcktu0""Cffkvkqpcnn{."ykvj"c"xkgy"vq"hwtvjgt"kppqxcvg"cpf"gpjcpeg"vjg"crrgcn"qh"vjg"Ucv{c"Rcwn"rtqfwevu"coqpi"c"oqtg"{qwvjhwn"cpf"oqfgtp" vctigv"eqpuwogt"dcug."yg"jcxg" kp" tgegpv" vkogu"eqnncdqtcvgf"ykvj"rqrwnct"egngdtkvkgu"cpf"fgukipgtu"vq"fgukip"urgekhke"eqnngevkqpu."uwej"cu"qwt"eqnncdqtcvkqp"ykvj"Ocucdc"Iwrvc"*fwtkpi"vjg"{gctu"4234"vq"4236+"cpf"Icwtk"Mjcp"*kp"vjg"{gct"4237."vq"octm"Ucv{c"Rcwn’s 30vj"cppkxgtuct{"kp"vjg"Kpfkcp"hcujkqp"kpfwuvt{+_0"""
Ocpwhcevwtkpi"qh"rtqfwevu"
"Ocpwhcevwtkpi"Hceknkvkgu""Ucv{c"Rcwn"dtcpfgf"crrctgn"cpf"hcdtke"dcugf"ceeguuqtkgu"kpenwfkpi"vkgu."uectxgu"cpf"uvqngu"cpf"Dy#vej"dtcpfgf"rcpvkgu" ctg"ocpwhcevwtgf" cetquu" vyq" hceknkvkgu" –" one situated at Manesar (“Ocpguct" Wpkv”) and the other at Gurgaon (“Iwticqp"Wpkv”), in Haryana, India. The Manesar Unit is situated on land owned b{"wu"cpf"vjg"rncpv"cpf"ocejkpgt{"cv"dqvj" vjg"Ocpguct"Wpkv"cpf"Iwticqp"Wpkv" ku"qypgf"d{"wu0"Vjgug" hceknkvkgu"ctg"qrgtcvgf"cpf"ocpcigf"d{"vjktf/party job workers, Harmony Garments Private Limited (“JIRN”) and Symphony Prints Private Limited (“URRN”), respectkxgn{"cpf"wpfgt"crrnkecdng"gzekug"ncyu."vjg"rtqfwevu"ocpwhcevwtgf"cv"vjgug"hceknkvkgu"are treated as “deemed manufacturing” by our Company. The other product categories under Ucv{c" Rcwn."eqpukuvkpi" qh" dciu." ycnngvu." ewhhnkpmu" cpf" dgnvu." ctg" ocpwhcevwtgf" d{" vjktf" rctvkgu." dtcpfgf" cv" vjg" vkog" qh"ocpwhcevwtg"cpf"rwtejcugf"d{"wu0"""Iwticqp"Wpkv<"URRN"wpfgtvcmgu"vjg"lqd"yqtm"qh"f{gkpi"cpf"rtkpvkpi"hcdtke"cv"vjg"Iwticqp"Wpkv."yjkej"jcu"c"vqvcn"dwknv"wr"ctgc"qh"crrtqzkocvgn{"6:.222"us0"hv0"Vjg"qrgtcvkqpcn"rgthqtocpeg"qh"vjg"Iwticqp"Wpkv"hqt"Hkuecnu"4238."4237" cpf" 4236." cu" egtvkhkgf" d{" T0M0" Cuuqekcvgu." Uvtwevwtg" Gpikpggtu" (" Xcnwgtu." d{" vjgkt" egtvkhkecvg" fcvgf"Ugrvgodgt"49."4238."ku"ugv"qwv"dgnqy0"""
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Ocpwhcevwtkpi"cpf"tg/hkpkujkpi"rcpvkgu"*Dy#vej+"
472.222" 46:.9;3" ;;074" 592.222" 58:.834" ;;084" 757.222" 754.;66" ;;084"
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"
343"
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"
344"
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""
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345"
MG["TGIWNCVKQPU"CPF"RQNKEKGU"KP"KPFKC"
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"Vtcfg"Octmu"Cev."1999 (“Trademarks Act”)""Vjg"Vtcfgoctmu"Cev"rtqxkfgu"hqt"vjg"crrnkecvkqp"cpf"tgikuvtcvkqp"qh"vtcfgoctmu"kp"Kpfkc"cpf"iqxgtpu"vjg"uvcvwvqt{"rtqvgevkqp"qh"vtcfgoctmu"hqt"iqqfu"cpf"ugtxkegu0"Vjg"rwtrqug"qh"vjg"Vtcfg"Octmu"Cev"ku"vq"itcpv"gzenwukxg"tkijvu"vq"octmu"uwej"cu"dtcpfu"cpf"ncdgnu"cpf"vq"rtqxkfg"tgnkgh"kp"ecug"qh"kphtkpigogpv0" Cp"crrnkecvkqp"hqt"vtcfgoctm"tgikuvtcvkqp"oc{"dg"ocfg"d{"kpfkxkfwcnu"qt"lqkpv"crrnkecpvu"d{"cp{"rgtuqp"enckokpi"vq"dg"vjg"rtqrtkgvqt"qh"c"vtcfg"octm."cpf"ecp"dg"ocfg"qp"vjg"dcuku"qh"gkvjgt"wug"qt"kpvgpvkqp"vq"wug"c"vtcfgoctm"kp"vjg"hwvwtg0"Vjg"crrnkecvkqp"hqt"tgikuvtcvkqp"qh" vtcfgoctm" jcu" vq"dg"ocfg" vq"Eqpvtqnngt/Igpgtcn" qh" Rcvgpvu."Fgukipu" cpf" Vtcfg"Octmu" cpf" vjg"tgikuvtcvkqp."kh"cpf"yjgp"itcpvgf."ku"xcnkf"hqt"c"rgtkqf"qh"32"{gctu"cpf"ecp"dg"tgpgygf"htqo"vkog"vq"vkog0" Kh"pqv"tgpgygf" chvgt" vgp" {gctu." vjg"octm" ncrugu" cpf" vjg" tgikuvtcvkqp" jcu" vq" dg" tguvqtgf0" Yjkng" dqvj" tgikuvgtgf" cpf"wptgikuvgtgf" vtcfgoctmu" ctg" rtqvgevgf" wpfgt" Kpfkcp" Ncy." vjg" tgikuvtcvkqp" qh" vtcfgoctmu" qhhgtu" ukipkhkecpv"cfxcpvcigu" vq" vjg" tgikuvgtgf" qypgt." rctvkewnctn{" ykvj" tgurgev" vq" rtqxkpi" kphtkpigogpv0" Vjg" Vtcfgoctmu"*Cogpfogpv+"Cev."4232"jcu"dggp"gpcevgf"d{"vjg"Iqxgtpogpv"qh"Kpfkc"vq"cogpf"vjg"Vtcfgoctmu"Cev"vq"gpcdng"Kpfkcp"pcvkqpcnu"cu"ygnn"cu"hqtgkip"pcvkqpcnu"vq"ugewtg"ukownvcpgqwu"rtqvgevkqp"qh"vtcfgoctm"kp"qvjgt"eqwpvtkgu."cpf" vq"gorqygt" vjg"Tgikuvtct"qh"Vtcfgoctmu" vq"fq"uq0" Kv"cnuq"uggmu" vq"ukornkh{" vjg" ncy"tgncvkpi" vq" vtcpuhgt"qh"qypgtujkr"qh"vtcfgoctmu"d{"cuukipogpv"qt"vtcpuokuukqp"cpf"vq"dtkpi"vjg"ncy"igpgtcnn{"kp"nkpg"ykvj"kpvgtpcvkqpcn"rtcevkeg0"Yg"wug"dtcpf"pcogu"yjkej"tgswktg"tgikuvtcvkqp"cpf"tgpgycn"wpfgt"vjg"Vtcfgoctmu"Cev"htqo"vkog"vq"vkog0""The Copyright Act, 1957 (“Copyright Act”)""Vjg"Eqr{tkijv"Cev"rtqxkfgu"hqt"tgikuvtcvkqp"qh"eqr{tkijvu."vtcpuhgt"qh"qypgtujkr"cpf"nkegpukpi"qh"eqr{tkijvu."cpf"kphtkpigogpv"qh"eqr{tkijvu"cpf" tgogfkgu"cxckncdng" kp" vjcv" tgurgev0" Vjg"Eqr{tkijv"Cev" itcpvu"rtqvgevkqp" vq" vjg"cwvjqtu" qh" nkvgtct{." ctvkuvke." ftcocvke."owukecn." rjqvqitcrjke." ekpgocvqitcrjke" qt" uqwpf" tgeqtfkpi" yqtmu0" Kv"rtqxkfgu"vjg"cwvjqt"ykvj"gzenwukxg"tkijvu"qh"qypgtujkr"cpf"geqpqoke"tkijvu"vq"tgrtqfweg"vjg"yqtm"kp"cp{"hqto. "kuuwg"eqrkgu"qh"kv"vq"vjg"rwdnke"cpf"qhhgt"kv"hqt"ucng"cpf"jktg0"Yjkng"eqr{tkijv"tgikuvtcvkqp"ku"pqv"c"rtgtgswkukvg"hqt"ceswktkpi"qt"gphqtekpi"c"eqr{tkijv."tgikuvtcvkqp"etgcvgu"c"rtguworvkqp"hcxqwtkpi"qypgtujkr"qh"vjg"eqr{tkijv"d{"vjg"tgikuvgtgf"qypgt0"Eqr{tkijv"tgikuvtcvkqp"oc{"gzrgfkvg"kphtkpigogpv"rtqeggfkpiu"cpf"tgfweg"fgnc{"ecwugf"fwg"vq"gxkfgpvkct{"eqpukfgtcvkqpu0"Qpeg"tgikuvgtgf."vjg"eqr{tkijv"rtqvgevkqp"qh"c"yqtm"ncuvu"hqt"82"{gctu"uwdugswgpv"vq"yjkej" vjg" yqtm" hcnnu" kp" vjg" rwdnke" fqockp" cpf" cp{" cev" qh" tgrtqfwevkqp" qh" vjg" yqtm" yqwnf" pqv" coqwpv" vq"kphtkpigogpv0"""Vjg" tgogfkgu" cxckncdng" kp" vjg" gxgpv" qh" kphtkpigogpv" qh" c" eqr{tkijv" wpfgt" vjg" Eqr{tkijv" Cev" kpenwfg" ekxkn"rtqeggfkpiu"hqt"fcocigu."ceeqwpv"qh"rtqhkvu."kplwpevkqp"cpf"vjg"fgnkxgt{"qh"vjg"kphtkpikpi"eqrkgu"vq"vjg"eqr{tkijv"qypgt0"Vjg"Eqr{tkijv"Cev"cnuq"rtqxkfgu"hqt"etkokpcn"tgogfkgu"kpenwfkpi"kortkuqpogpv"qh"vjg"ceewugf."korqukvkqp"qh"hkpgu"cpf"ugk|wtg"qh"kphtkpikpi"eqrkgu0"""Fgukipu"Cev."2000 (“Designs Act”) ""Vjg"Fgukipu"Cev."yjkej"ecog" kpvq" hqteg" kp"Oc{"4223."cnqpi"ykvj" vjg" twngu"ocfg" vjgtgwpfgt"eqpuqnkfcvg"cpf"cogpf"vjg"ncy"tgncvkpi"vq"rtqvgevkqp"qh"fgukipu0"C"fgukip"tghgtu"vq"vjg"hgcvwtgu"qh"ujcrg."eqphkiwtcvkqp."rcvvgtp."qtpcogpvcvkqp"qt"eqorqukvkqp"qh" nkpgu"qt"eqnqwtu" crrnkgf" vq" cp{" ctvkeng." yjgvjgt" kp" vyq" fkogpukqpcn" qt" vjtgg"fkogpukqpcn"qt"kp"dqvj"hqtou0"Kp"qtfgt"vq"tgikuvgt"c"fgukip."kv"owuv"dg"pgy"qt"qtkikpcn"cpf"owuv"pqv"dg"fkuenqugf"vq"vjg"rwdnke"cp{yjgtg"kp"Kpfkc"qt"cp{"qvjgt"eqwpvt{"d{"rwdnkecvkqp"kp"vcpikdng"hqto"qt"d{"wug"qt"kp"cp{"qvjgt"yc{"rtkqt"vq"vjg"hknkpi"fcvg0"C"fgukip"ujqwnf"dg"ukipkhkecpvn{"fkuvkpiwkujcdng"htqo"mpqyp"fgukipu"qt"eqodkpcvkqp"qh"mpqyp"fgukipu"kp"qtfgt"hqt"kv"vq"dg"tgikuvgtgf0"C"tgikuvgtgf"fgukip"ku"xcnkf"hqt"c"rgtkqf"qh"32"{gctu"chvgt"yjkej"kv"ecp"dg"tgpgygf"hqt"cpqvjgt"rgtkqf"qh"hkxg"{gctu."dghqtg"vjg"gzrktcvkqp"qh"vjg"qtkikpcn"rgtkqf"qh"32"{gctu0"Chvgt"uwej"rgtkqf"vjg"fgukip"ku"ocfg"cxckncdng"vq"vjg"rwdnke"d{"rncekpi"kv"kp"vjg"rwdnke"fqockp0"""Ncdqwt"Ncy"Ngikuncvkqpu"
"
346"
Factories Act, 1948 (“Factories Act”)"
"Vjg"Hcevqtkgu"Cev"uggmu"vq"tgiwncvg"cpf"rtqxkfg"hqt"uchgv{."jgcnvj"cpf"ygnhctg"qh"vjg"ncdqwt"gornq{gf"kp"hcevqtkgu0"Kv"crrnkgu"vq"kpfwuvtkgu"kp"yjkej"*k+"32"qt"oqtg"vjcp"32"yqtmgtu"ctg"gornq{gf"qp"cp{"fc{"qh" vjg"rtgegfkpi"34"oqpvju"cpf"yjgtg"cp{"ocpwhcevwtkpi"rtqeguu" ku"ecttkgf"qwv"ykvj" vjg"ckf"qh"rqygt."qt" *kk+"42"qt"oqtg" vjcp"42"yqtmgtu"ctg"gornq{gf"cpf"yjgtg"cp{"ocpwhcevwtkpi"rtqeguu"dgkpi"ecttkgf"qwv"ykvjqwv"vjg"ckf"qh"rqygt0"Gcej"uvcvg"jcu"gpcevgf"twngu"kp"tgurgev"qh"rtkqt"uwdokuukqp"qh"rncpu"cpf"vjgkt"crrtqxcn"hqt"vjg"guvcdnkujogpvu."tgikuvtcvkqp"and licensing of factories. The Factories Act imposes obligations on the “occupier” of a factory i.e. the person yjq"jcu"wnvkocvg"eqpvtqn"qxgt"vjg"chhcktu"qh"vjg"hcevqt{"kp"tgurgev"qh"uchgv{"cpf"rtqrgt"ockpvgpcpeg"qh"vjg"hcevqt{."jcpfnkpi." uvqtcig" cpf" vtcpurqtv" qh" ctvkengu" cpf" uwduvcpegu." rtqxkukqp" qh" cfgswcvg" vtckpkpi" cpf" uchg" yqtmkpi"eqpfkvkqp"qh"yqtmgtu0"Vjg"Hcevqtkgu"Cev"cnuq"rtqxkfgu"hqt"korqukvkqp"qh"hkpgu"cpf"kortkuqpogpv"qh"vjg"qeewrkgt"qh"hcevqt{"kp"ecug"qh"cp{"eqpvtcxgpvkqp"ykvj"vjg"rtqxkukqpu"qh"vjg"Hcevqtkgu"Cev0"""Fgrgpfkpi"qp"vjg"pcvwtg"qh"vjg"cevkxkv{"wpfgtvcmgp"d{"wu."qvjgt"crrnkecdng"ncdqwt"ncyu"cpf"tgiwncvkqpu"kpenwfg"vjg"hqnnqykpi<""
� Employee’s Compensation Act, 1923"� Rc{ogpv"qh"Itcvwkv{"Cev."3;94"� Rc{ogpv"qh"Dqpwu"Cev."3;87"� Ocvgtpkv{"Dgpghkv"Cev."3;83"� Okpkowo"Ycigu"Cev."3;6:"� Vjg"Gornq{ggu"Uvcvg"Kpuwtcpeg"Cev."3;6:"� The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952"� Vjg"Rc{ogpv"qh"Ycigu"Cev."3;58"
" "Qvjgt"Crrnkecdng"Ncyu"
"Ngicn"Ogvtqnogy Act, 2009 (“Legal Metrology Act”)""Vjg"Ngicn"Ogvtqnqi{"Cev"ecog"kpvq"ghhgev"htqo"Crtkn"3."4233"tgrncekpi"vjg"Uvcpfctf"Ygkijvu"cpf"Ogcuwtg"3;98"cpf" vjg"Uvcpfctfu"qh"Ygkijvu"cpf"Ogcuwtgu" *Gphqtegogpv+"Cev"3;:70" Kv"ycu"gpcevgf" vq"guvcdnkuj"cpf"gphqteg"uvcpfctfu"qh"ygkijvu"cpf"ogcuwtgu"cpf"vq"tgiwncvg"vtcfg"cpf"eqoogteg"kp"ygkijvu"cpf"ogcuwtgu"cpf"qvjgt"iqqfu"yjkej"ctg"uqnf"qt"fkuvtkdwvgf"d{"ygkijv."ogcuwtg"qt"pwodgt0"Wpfgt"vjg"Ngicn"Ogvtqnqi{"Cev."cnn"vjg"ocpwhcevwtgtu"qh"rcemcigf"ogtejcpfkug"ctg"tgswktgf"vq"qdvckp"c"nkegpug"htqo"Eqpvtqnngt."Ngicn"Ogvtqnqi{."Iqxgtpogpv"qh"Kpfkc0"Hwtvjgt."c"eqorcp{"oc{"cnuq"pqokpcvg"c"fktgevqt"yjq"yqwnf."cnqpi"ykvj"vjg"eqorcp{."dg"jgnf"tgurqpukdng"hqt"cp{" cev" tguwnvkpi" kp" xkqncvkqp" qh" rtqxkukqpu" qh" vjg" Ngicn" Ogvtqnqi{" Cev0" Vjg" Ngicn" Ogvtqnqi{" *Rcemcigf"Eqooqfkvkgu+"Twngu."4233" htcogf"wpfgt" vjg"Ngicn"Ogvtqnqi{"Cev" nc{"fqyp"urgekhke"rtqxkukqpu"crrnkecdng" vq"rcemcigu"kpvgpfgf"hqt"tgvckn"ucng."yjqngucng"rcemcigu"cpf"hqt"gzrqtv"cpf"korqtv"qh"rcemcigf"eqooqfkvkgu"cpf"cnuq"rtqxkfg"hqt"tgikuvtcvkqp"qh"ocpwhcevwtgtu"cpf"rcemgtu0"""Ujqru"("Guvcdnkujogpvu"ngikuncvkqpu"kp"xctkqwu"uvcvgu""Wpfgt"vjg"rtqxkukqpu"qh"nqecn"ujqru"cpf"guvcdnkujogpvu"ngikuncvkqpu"crrnkecdng"kp"vjg"uvcvgu"kp"yjkej"guvcdnkujogpvu"ctg"ugv"wr."guvcdnkujogpvu"ctg"tgswktgf"vq"dg"tgikuvgtgf"wpfgt"vjg"tgurgevkxg"ngikuncvkqpu0"Vjgug"ngikuncvkqpu"tgiwncvg"vjg" eqpfkvkqpu" qh" yqtm" cpf" gornq{ogpv" kp" ujqru" cpf" eqoogtekcn" guvcdnkujogpvu" cpf" igpgtcnn{" rtguetkdg"qdnkicvkqpu" kp" tgurgev" qh" kpvgt" cnkc" tgikuvtcvkqp." qrgpkpi" cpf" enqukpi" jqwtu." fckn{" cpf" yggmn{" yqtmkpi" jqwtu."jqnkfc{u."ngcxg."jgcnvj"cpf"uchgv{"ogcuwtgu"cpf"ycigu"hqt"qxgtvkog"yqtm0"""
Hqtgkip"Kpxguvogpv"Tgiwncvkqpu"
"Hqtgkip" kpxguvogpv" kp" Kpfkc" ku" iqxgtpgf" d{" vjg" rtqxkukqpu" qh" Hqtgkip" Gzejcpig" Ocpcigogpv" Cev." 3;;;"(“HGOC”) alqpi"ykvj"vjg"twngu."tgiwncvkqpu"cpf"pqvkhkecvkqp"ocfg"d{"vjg"Tgugtxg"Dcpm"qh"Kpfkc"vjgtgwpfgt."cpf"rqnke{"fguetkdgf"d{" vjg"Fgrctvogpv"qh" Kpfwuvtkcn"Rqnke{"cpf"Rtqoqvkqp."Okpkuvt{"qh"Eqoogteg"cpf" Kpfwuvt{."Government of India (“FKRR”). DIPP has issued Eqpuqnkfcvgf"HFK"Rqnke{"cpf"wpfgt"rctcitcrj"70403703"qh"vjg"FDI Policy, foreign direct investment (“HFK”) up to 100% is permitted in wholesale trading *yjkej"ku"vjg"dwukpguu"cevkxkv{"kp"yjkej"vjg"Eqorcp{"ku"gpicigf+"wpfgt"vjg"cwvqocvke"tqwvg"uwdlgev"vq"eqornkcpeg"ykvj"egtvckp"urgekhkgf"eqpfkvkqpu"kpenwfkpi"–"""
*c+ vjg" yjqngucng" vtcfgt" qdvckpkpi" tgswkukvg" nkegpugu1tgikuvtcvkqpu1rgtokvu" htqo" vjg" tgngxcpv" iqxgtpogpv"cwvjqtkv{="
"
347"
*d+ gzegrv"hqt"ucngu"ocfg"vq"vjg"Iqxgtpogpv."ucngu"ocfg"d{"vjg"yjqngucng"vtcfgt"owuv"dg"ocfg"vq"gpvkvkgu"jqnfkpi"ucngu"vcz1XCV"tgikuvtcvkqp1ugtxkeg"vcz1gzekug"fwv{"tgikuvtcvkqpu."gpvkvkgu"jqnfkpi"vtcfg"nkegpugu."gpvkvkgu" jqnfkpi" rgtokvu1nkegpug" hqt" wpfgtvcmkpi" tgvckn" vtcfg." qt" kpuvkvwvkqpu" jqnfkpi" egtvkhkecvg" qh"kpeqtrqtcvkqp"qt"tgikuvtcvkqp"cu"c"uqekgv{"qt"rwdnke"vtwuv"hqt"vjgkt"ugnh/eqpuworvkqp=""
*e+ yjqngucng"vtcfkpi"qh"iqqfu"ku"rgtokvvgf"coqpi"eqorcpkgu"qh"vjg"ucog"itqwr0"Jqygxgt."uwej"yjqngucng"vtcfkpi"vq"itqwr"eqorcpkgu"vcmgp"vqigvjgt"ujqwnf"pqv"gzeggf"47'"qh"vjg"vqvcn"vwtpqxgt"qh"vjg"yjqngucng"xgpvwtg="cpf"
*f+ c" yjqngucng" vtcfgt" ecp" wpfgtvcmg" ukping" dtcpf" tgvckn" vtcfkpi" uwdlgev" vq" egtvckp" eqpfkvkqpu0" Cp" gpvkv{"wpfgtvcmkpi"yjqngucng"cu"ygnn"cu"tgvckn"dwukpguu"ujcnn"ockpvckp"ugrctcvg"dqqmu"qh"ceeqwpvu"hqt"vjgug"vyq"ctou"qh"vjg"dwukpguu0""
Vjg"HFK"Rqnke{"cnuq"rtqxkfgu"vjg"ogvjqfqnqi{"hqt"ecnewncvkqp"qh"vqvcn"hqtgkip"kpxguvogpv"*k0g0"yjgvjgt"fktgev"qt"kpfktgev"hqtgkip"kpxguvogpv+"kp"cp"Kpfkcp"eqorcp{."yjkej"yqwnf"crrn{"cv"gxgt{"uvcig"qh"kpxguvogpv"*k0g0."kpenwfkpi"fqypuvtgco"kpxguvogpvu+"kp"Kpfkcp"eqorcpkgu"vjcv"ctg"pqv"qypgf"cpf"eqpvtqnngf"d{"Kpfkcp"tgukfgpv"gpvkvkgu0"
"
348"
JKUVQT["CPF"EGTVCKP"EQTRQTCVG"OCVVGTU"
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"Our Company was incorporated as “Genesis Retail Private Limited” on November 23, 1998."cu"c"rtkxcvg"nkokvgf"eqorcp{" wpfgt" vjg" Eqorcpkgu" Cev." 3;78." ykvj" c" egtvkhkecvg" qh" kpeqtrqtcvkqp" itcpvgf" d{" vjg" Tgikuvtct" qh"Eqorcpkgu."Pcvkqpcn"Ecrkvcn"Vgttkvqt{"qh"Fgnjk"cpf"Jct{cpc0"The name of our Company was changed to “Genesis Colors Private Limited” pursuant to a special resolution of tjg"ujctgjqnfgtu"qh"qwt"Eqorcp{"fcvgf"Cwiwuv"32."4223"cpf"c"htguj"egtvkhkecvg"qh"kpeqtrqtcvkqp"ycu"kuuwgf"d{"vjg"TqE."qp"Ugrvgodgt"36."42230"Rwtuwcpv"vq"c"ejcpig"kp" vjg" nqecvkqp" qh" qwt" tgikuvgtgf" qhhkeg" htqo" Pgy" Fgnjk" vq"Iwticqp." vjg" TqE" kuuwgf" c" htguj" egtvkhkecvg" qh"kpeqtrqtcvkqp"fcvgf"Octej"42."42370"Rwtuwcpv"vq"vjg"eqpxgtukqp"qh"qwt"Eqorcp{"vq"c"rwdnke"nkokvgf"eqorcp{"cpf"cu"crrtqxgf"d{"vjg"ujctgjqnfgtu"qh"qwt"Eqorcp{"rwtuwcpv"vq"c"urgekcn"tguqnwvkqp"fcvgf"Ugrvgodgt"9."4238."qwt"name was changed to “Genesku"Eqnqtu"Nkokvgf” and the RoC kuuwgf"c" htguj"egtvkhkecvg"qh" kpeqtrqtcvkqp" wrqp"eqpxgtukqp"vq"c"rwdnke"nkokvgf"eqorcp{"qp"Ugrvgodgt"38."42380"""Dwukpguu"cpf"ocpcigogpv"
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Hqt" c" fguetkrvkqp" qh" qwt" cevkxkvkgu." rtqfwevu." vgejpqnqi{."octmgv" ugiogpvu." vjg" itqyvj" qh" qwt" Eqorcp{." vjg"uvcpfkpi"qh"qwt"Eqorcp{"ykvj"tghgtgpeg"vq"rtqokpgpv"eqorgvkvqtu"kp"eqppgevkqp"ykvj"qwt"rtqfwevu."ocpcigogpv."oclqt"uwrrnkgtu"cpf"ewuvqogtu."gpxktqpogpvcn"kuuwgu."tgikqpcn"igqitcrjkecn"ugiogpv"gve0."see “Qwt"Dwukpguu”, “Kpfwuvt{" Qxgtxkgy” and “Management’s Discussion and Analysis of Financial Condition and Results of Qrgtcvkqpu” on pages 326." ;4" cpf"496." tgurgevkxgn{0"Hqt"fgvcknu" qh" vjg"ocpcigogpv" qh" qwt"Eqorcp{" cpf" kvu"managerial competence, see “Qwt"Ocpcigogpv” on page 35:0""Ejcpigu"kp"Tgikuvgtgf"Qhhkeg"
"Fgvcknu"qh"rtkqt"ejcpigu"kp"vjg"tgikuvgtgf"qhhkeg"qh"qwt"Eqorcp{"ctg"cu"dgnqy<"""
Ghhgevkxg"fcvg" Fgvcknu"qh"ejcpig" Tgcuqpu"hqt"ejcpig"
Lwn{"38."3;;;" Vjg" cfftguu" qh" vjg" tgikuvgtgf"qhhkeg" qh" qwt" Eqorcp{"ycu" ejcpigf" htqo" D/615:." Uchfctlwpi" Gpencxg." Pgy"Fgnjk/"33224;"vq"3C/4."Vcl"Crctvogpv."Tcq"Vwnc"Tco"Octi."Pgy"Fgnjk/"332244"
Cfokpkuvtcvkxg" eqpxgpkgpeg" cpf"geqpqoke"tgcuqpu""
Crtkn"47."4227" Vjg" cfftguu" qh" vjg" tgikuvgtgf"qhhkeg" qh" qwt" Eqorcp{"ycu"ejcpigf"htqo"3C/4."Vcl"Crctvogpv."Tcq"Vwnc"Tco"Octi."Pgy"Fgnjk/"332244"vq"4C/3."Vcl"Crctvogpv."Tcq"Vwnc"Tco"Octi."Pgy"Fgnjk/"332244"
Cfokpkuvtcvkxg" eqpxgpkgpeg" cpf"geqpqoke"tgcuqpu"
Pqxgodgt"37."4227" Vjg" cfftguu" qh" vjg" tgikuvgtgf"qhhkeg" qh" qwt" Eqorcp{"ycu"ejcpigf"htqo"4C/3."Vcl"Crctvogpv."Tcq"Vwnc"Tco"Octi." Pgy" Fgnjk" 332" 244." Fgnjk" vq" 5C/3." Tcq" Vwnc"Tco"Octi."Pgy"Fgnjk"332"244."Fgnjk0"
Cfokpkuvtcvkxg" eqpxgpkgpeg" cpf"geqpqoke"tgcuqp"
Octej"35."4237" Vjg" cfftguu" qh" vjg" tgikuvgtgf"qhhkeg" qh" qwt" Eqorcp{"ycu"ejcpigf"htqo"5C/3."Vcl"Crctvogpv."Tcq"Vwnc"Tco"Octi." Pgy" Fgnjk" 332" 244." Fgnjk" vq" 73/74." Wf{qi"Xkjct."Rjcug"–"KX."Iwticqp."344"223."Jct{cpc0"
Cfokpkuvtcvkxg" eqpxgpkgpeg" cpf"geqpqoke"tgcuqpu"
"
Qwt"ockp"qdlgevu""
"
Vjg"ockp"qdlgevu"qh"qwt"Eqorcp{"cu"eqpvckpgf"kp"qwt"Ogoqtcpfwo"qh"Cuuqekcvkqp"ctg<""30 Vq" ectt{" qp" vjg"dwukpguu" qh" tgvckngtu."ocpwhcevwtgtu."rtqfwegtu."rtqeguuqtu." korqtvgtu." gzrqtvgtu."dw{gtu."
ugnngtu." fgcngtu." uvqemkuvu." uwrrnkgtu." yjqngucngtu." lqddgtu." eqpvtcevqtu." tgrcktgtu0" Fgukipgtu." hcdtkecvqtu."cuugodngtu."uvqtgu."yctgjqwugu."f{gtu."dngcejgtu"cpf"fkuvtkdwvqtu"qh"cnn"mkpfu"qh"itc{"enqvj"hcdtkeu"cpf"vgzvkngu"rtgrctgf"htqo"p{nqp."rqn{guvgt."cet{nkeu."tc{qp."uknm."nkpgp."eqvvqp."yqqn."lwvg."ngcvjgt"iqqfu."ugtxgt."vkgu."dgnvu"ngcvjgt"cpf"cp{"qvjgt"u{pvjgvke."ctvkhkekcn"cpf"pcvwtcn"hkdgtu"kpenwfkpi"vjgkt"dngpfu"cpf"cnn"v{rgu"qh"tgcf{ocfg"ictogpvu" hqt"ogp." yqogp" cpf" ejknftgp" kpenwfkpi" urqtvuygct." cevkxg" ygctu." fckn{" ygctu." hcujkqp" ygctu."weaving apparels, underwear’s, and to participate in local, national and international trade fairs, sales gzjkdkvkqp."ugokpctu."hcujkqp"ujqyu"qt"cp{"qvjgt"ucngu"rtqoqvkqp"cevkxkvkgu0"
40 Vq"ectt{"qp"vjg"dwukpguu"qh"enqvj."eqvvqp"cpf"yqqn"urkppgtu"cpf"fqwdngu."hngz."jgor."cpf"lwvg"urkppgtu."nkpgpu."yqqnngp"cpf"eqvvqp"enqvj"ocpwhcevwtgtu."rtqfwegtu."rtqeguuqtu."korqtvgtu."gzrqtvgtu."dw{gtu."ugnngtu."fgcngtu."uvqemkuvu." uwrrnkgtu." yjqngucngtu." lqddgtu." eqpvtcevqtu." tgrcktgtu." fgukipgtu." hcdtkecvqtu." cuugodngtu." uvqtgu."
"
349"
yctgjqwugu."f{gtu."dngcejgtu" cpf"fkuvtkdwvqtu" kpenwfkpi" yqqn"eqodgtu."yqtuvgf"urkppgtu." {ctp"ogtejcpvu."dngcejgtu"cpf"f{gtu0"
50 Vq"ygcxg"cpf"qvjgtykug"ocpwhcevwtg."dw{." ugnn." korqtv." gzrqtv"cpf"fgcn" kp"cnn"mkpfu"qh"enqvj." tgcf{ocfg"ictogpvu"cpf"crrctgnu"cpf"qvjgt"iqqfu"cpf"hcdtkeu."yjgvjgt"vgzvkng."hgnvgf."pgvvgf"qt"nqqrgf0"
60 Vq"ectt{"qp" vjg"dwukpguu"qh"ocpwhcevwtgtu." korqtvgtu"cpf"gzrqtvgtu0"Yjqngucng"cpf"tgvckn"fgcngtu"qh"ogp."yqogp"cpf"ejknftgp"enqvjkpi"ocfg"qh"cp{"ocvgtkcn"ctvkhkekcn."u{pvjgvke."ocpocfg"qt"pcvwtcn"qt"cp{"dngpfu"vjgtgqh."cpf"ygctkpi"crrctgn"cpf"ceeguuqtkgu"qh"gxgt{"mkpf."pcvwtg"cpf"fguetkrvkqp0"
70 Vq"korqtv"vgejpqnqi{"tgncvkpi"vq"vjg"kvgou"cu"tghgttgf"vq"kp"*3+"cdqxg0"
80 Vq"ectt{"qp"vjg"dwukpguu"qh"korqtv"qh"cnn"v{rgu"qh"ogtejcpfkug."ocejkpgt{"gswkrogpvu"cpf"ctvkengu."yjgvjgt"kp" hqto" qh"ocpwhcevwtgf" qt" qvjgtykug" qt" vjg" kvgou" vjcv"oc{"dg" cnnqygf" hqt" korqtv" wpfgt" xctkqwu" gzrqtv"rtqoqvkqp"uejgogu"rtgxcngpv"htqo"vkog"vq"vkog"cpf"fkurqug"qh"qt"fgcn"ykvj"vjgo"cpf"vjg"korqtv"gpvkvngogpvu"qt"nkegpugu"cu"rgt"vjg"twngu"cpf"tgiwncvkqpu"qh"vjg"korqtv"cpf"gzrqtv"rtqoqvkqp"uejgogu"vjcv"oc{"dg"kp"hqteg"htqo"vkog"vq"vkog0"
90 Vq"ectt{"qp"cnn"qt"cp{"qh"vjg"dwukpguu"qh"fgcngtu"cpf"ocpwhcevwtgtu"qh"cnn"mkpfu"qh"ectrgvu."fwttkgu."ocvu."twiu."pcofcu."dncpmgvu."ujcynu."vyggfu."nkpgpu."hncppgnu"cpf"cnn"qvjgt"ctvkengu"qh"yqqngp"cpf"yqtuvgf"ocvgtkcnu"cpf"qh"cnn"ctvkengu"ukoknct"vq"vjg"hqtgiqkpi"qt"cp{"qh"vjgo"qt"eqppgevgf"jgtgykvj0"
:0 Vq"fgcn."dw{."ugnn."korqtv."gzrqtv."rtqfweg."rtqeguu."fgukip."kortqxg."cnvgt."ocpwhcevwtg."hkpkuj."cnn"mkpfu"qh"fabrics, hosiery items, knitwear’s, handicraft items, fibers, fibrous materials, yarn, thread, wastes and"d{/rtqfwevu"ocfg"htqo"cp{"pcvwtcn."cpkocn."ocpocfg"qt"u{pvjgvke"{ctpu"yjcvuqgxgt"cpf"cnn"ctvkengu"ocfg"vjgtg"htqo0"
;0 Vq"rtqxkfg"vgejpkecn"eqpuwnvcpe{."octmgvkpi."lqd"yqtm"cpf"qvjgt"ugtxkegu"kp"Kpfkc"cpf"cdtqcf"kp"eqppgevkqp"ykvj"vjg"dwukpguugu"tghgttgf"vq"kp"uwd/encwug"KKK"C*3+"vq"*;+"cdqxg0"
320 Vq" ectt{" qp" vjg" dwukpguu" qh" dw{kpi." ugnnkpi." fkuvtkdwvkpi."octmgvkpi." vtcfkpi." korqtvkpi." gzrqtvkpi" cpf"qvjgtykug"fgcnkpi" kp"dgcwv{"rtqfwevu"qh" gxgt{"fguetkrvkqp" cpf"mkpf" kpenwfkpi"equogvkeu."eqnqt"equogvkeu."ocmgwr"rtqfwevu"kpenwfkpi"hqt"g{gu."hceg."umkp."umkp"ectg"rtqfwevu."dqf{"ectg"rtqfwevu."jckt"ectg"rtqfwevu."pckn"rtqfwevu."htcitcpeg"cpf"qvjgt"tgncvgf"rtqfwevu0"
330 Vq"ectt{"qp"vjg"dwukpguu"qh"dw{kpi."ugnnkpi."fkuvtkdwvkpi."octmgvkpi."vtcfkpi."korqtvkpi."gzrqtvkpi"cpf"qvjgt"fgcnkpi"kp"jqog"rtqfwevu"qh"gxgt{"fguetkrvkqp"cpf"mkpf"kpenwfkpi"dgf/ujggvu."ewujkqp"eqxgtu."vcdng"enqvju."pcrmkpu." vqygnu."swknvu." ecpfngu." ugtxkpi"rncvvgtu." xcugu." fgeqtcvkxg" kvgou." ncpvgtpu." incuu" yctg."dct" yctg."et{uvcn"yctg."vcdng"yctg."rqtegnckp"yctg."mkvejgp"yctg."jqog"cpf"mkvejgp"ceeguuqtkgu"cpf"ewvngt{"cu"ygnn"cu"qvjgt"ceeguuqtkgu"cpf"ikhv"kvgou"cpf"qvjgt"tgncvgf"rtqfwevu"hqt"jqog"wucig0"
Vjg"ockp"qdlgevu"encwug"cu"eqpvckpgf"kp"vjg"Ogoqtcpfwo"qh"Cuuqekcvkqp"gpcdng"qwt"Eqorcp{"vq"wpfgtvcmg"kvu"gzkuvkpi"cevkxkvkgu0""
Cogpfogpvu"vq"qwt"Ogoqtcpfwo"qh"Cuuqekcvkqp""
"
Ukpeg" vjg" kpeqtrqtcvkqp" qh" qwt" Eqorcp{" vjg" hqnnqykpi" ejcpigu" jcxg" dggp" ocfg" vq" qwt" Ogoqtcpfwo" qh"Cuuqekcvkqp<"""
Fcvg"qh"ejcpig1"
shareholders’
tguqnwvkqp"
Pcvwtg"qh"cogpfogpv""
"
Cwiwuv"34."3;;;" Vjg" cwvjqtk|gf" ujctg"ecrkvcn" qh"qwt"Eqorcp{" ycu" kpetgcugf" htqo" `" 4.222.222"fkxkfgf" kpvq"422.222"Gswkv{"Ujctgu"gcej"vq"`"7.222.222"fkxkfgf"kpvq"722.222"Gswkv{"Ujctgu0""
Pqxgodgt"47."4224" Vjg" cwvjqtk|gf" ujctg"ecrkvcn" qh"qwt"Eqorcp{" ycu" kpetgcugf" htqo" `" 7.222.222"fkxkfgf" kpvq"722.222"Gswkv{"Ujctgu"vq"`"32.222.222"fkxkfgf"kpvq"3.222.222"Gswkv{"Ujctgu0"
Qevqdgt"4:."4227" Vjg"cwvjqtk|gf"ujctg"ecrkvcn"qh"qwt"Eqorcp{"ycu"kpetgcugf"htqo"`"32.222.222"fkxkfgf"kpvq"3.222.222"Gswkv{"Ujctgu"vq"`"37.222.222"fkxkfgf"kpvq"3.722.222"Gswkv{"Ujctgu0""
"
34:"
Fcvg"qh"ejcpig1"
shareholders’
tguqnwvkqp"
Pcvwtg"qh"cogpfogpv""
"
Crtkn"47."4228" Vjg"cwvjqtk|gf"ujctg"ecrkvcn"qh"qwt"Eqorcp{"ycu"kpetgcugf"cpf"tgencuukhkgf"htqo"`"37.222.222"fkxkfgf"kpvq"3.722.222"Gswkv{"Ujctgu"vq"`"387.222.222"fkxkfgf"kpvq"3.722.222"Gswkv{"Ujctgu"cpf"37.222.222"rtghgtgpeg"ujctgu"qh"`"32"gcej0""
Lwn{"47."4229"" The authorized share capital of our Company was reclassified from ₹ 165,000,000 divided into 3.722.222" Gswkv{" Ujctgu" cpf" 37.222.222"rtghgtgpeg" ujctgu" qh" `" 32" gcej" vq" `" 387.222.222"fkxkfgf"kpvq"38.722.222"Gswkv{"Ujctgu0"
Oc{"44."422:" Vjg" cwvjqtk|gf" ujctg" ecrkvcn" qh" qwt" Eqorcp{" ycu" kpetgcugf" cpf" tgencuukhkgf" htqo" `"387.222.222"fkxkfgf"kpvq"38.722.222"Gswkv{"Ujctgu"vq"`"687.227.222"fkxkfgf"kpvq"38.722.222"Gswkv{"Ujctgu"cpf"522.227"Ugtkgu/C"EERU0"
Ugrvgodgt"52."422:" Cnvgtcvkqp"qh"Encwug"KKK"*D+"qh"vjg"Ogoqtcpfwo"qh"Cuuqekcvkqp."d{"cffkpi"vjg"hqnnqykpi"pgy"encwugu"cu"KKK*D+57"cpf"KKK*D+58<""$570""Vq"ectt{"qpv"vjg"dwukpguu"cu"vtcfgtu."rwtejcugtu"cpf"ugnngtu"qh"cnn"mkpfu"qh"eqphgevkqpgt{."ejqeqncvgu."equogvkeu."lgygnt{."ujqgu."dciu."ceeguuqtkgu"cpf"twppkpi"qh"uocnn"echgu"rctcnngn"vq"the line of its main business as may be conveniently combined.”""“580"Vq"ectt{"qp"kp"Kpfkc"qt"gnugyjgtg"vjg"dwukpguu"qh"qticpk|kpi"cpf"ocpcikpi"gxgpvu."ujqyu."rwdnke" tgncvkqp." rtqfwev" ncwpej" cpf" vq" rtqxkfg" rtqoqvkqpcn" tgswkukvgu" qh" gxgt{" mkpf" cpf"description.”"""
Cwiwuv"53."422;" Cnvgtcvkqp"qh"Encwug"KKK"*E+"qh"vjg"Ogoqtcpfwo"qh"Cuuqekcvkqp."d{"cffkpi"vjg"hqnnqykpi"pgy"encwugu"cu"KKK*E+76"cpf"KKK*E+77<"""$760"Vq"ectt{"qp"vjg"dwukpguu"cu"vtcfgtu."rwtejcugtu"cpf"ugnngtu"qh"cnn"mkpfu"qh"eqphgevkqpgt{."ejqeqncvgu."equogvkeu."lgygnt{."ujqgu."dciu."ceeguuqtkgu"cpf"twppkpi"qh"uocnn"echgu"rctcnngn"vq"the line of its main business as may be conveniently combined.”""“55. To carry on in India or elsewhere the business"qh"qticpk|kpi"cpf"ocpcikpi"gxgpvu."ujqyu."rwdnke" tgncvkqp." rtqfwev" ncwpej" cpf" vq" rtqxkfg" rtqoqvkqpcn" tgswkukvgu" qh" gxgt{" mkpf" cpf"description.”""
Crtkn"47."4235" The authorised share capital of our Company was increased from ₹ 465,005,000 divided into 38.722.222" Gswkv{" Ujctgu" cpf" 522.227" Ugtkgu/C" EERU" vq" ` 762.227.222" fkxkfgf" kpvq"46.222.222"Gswkv{"Ujctgu"cpf"522.227"Ugtkgu/C"EERU0"
Fgegodgt"3."4234," Kpetgcug"kp"gswkv{"ujctg"ecrkvcn"htqo"₹"762.227.222"fkxkfgf"kpvq"46.222.222"Gswkv{"Ujctgu"cpf"522.227"Ugtkgu/C"EERU"vq"₹"762.327.222"fkxkfgf"kpvq"46.232.222"Gswkv{"Ujctgu"cpf"522.227"Ugtkgu/C"EERU""
Fgegodgt"4."4236" Cnvgtcvkqp"qh"encwug"KK"qh"vjg"Ogoqtcpfwo"qh"Cuuqekcvkqp."vq"cnnqy"ejcpig"kp"vjg"tgikuvgtgf"qhhkeg"vq"tgcf"cu"hqnnqyu<""“KK0"Vjg"Tgikuvgtgf"qhhkeg"qh"vjg"Eqorcp{"yknn"dg"ukvwcvgf"kp"vjg"uvcvg"qh"Jct{cpc0”"
Lwpg"4;."4237" Cnvgtcvkqp"qh" vjg"jgcfkpi"crrgctkpi"kp"vjg"Ogoqtcpfwo"qh"Cuuqekcvkqp"qh"qwt"Eqorcp{"d{"uwduvkvwvkpi"ykvj"vjg"hqnnqykpi"jgcfkpi<""“*VJG" EQORCPKGU" CEV." 3;78+" CPF" *VJG" EQORCPKGU" CEV." 4235" VQ" VJG" GZVGPV"CRRNKECDNG+”"
Cnvgtcvkqp"qh"encwug"KKK*C+"qh"vjg"ockp"qdlgevu"qh"vjg"Ogoqtcpfwo"qh"Cuuqekcvkqp"d{"cffkpi"vjg"hqnnqykpi"pgy"encwugu"cu"KKK*C+32"cpf"KKK*C+33<""“320"Vq"ectt{"qp"vjg"dwukpguu"qh"dw{kpi."ugnnkpi."fkuvtkdwvkpi."octmgvkpi."vtcfkpi."korqtvkpi."gzrqtvkpi"cpf"qvjgtykug"fgcnkpi"kp"dgcwv{"rtqfwevu"qh"gxgt{"fguetkrvkqp"cpf"mkpf"kpenwfkpi"equogvkeu."eqnqt"equogvkeu."ocmgwr"rtqfwevu"kpenwfkpi"hqt"g{gu."hceg."umkp."umkp"ectg"rtqfwevu."dqf{"ectg"rtqfwevu."jckt"ectg"rtqfwevu."pckn"rtqfwevu."htcitcpeg"cpf"qvjgt"tgncvgf"rtqfwevu""330"Vq"ectt{"qp" vjg"dwukpguu"qh"dw{kpi." ugnnkpi."fkuvtkdwvkpi."octmgvkpi." vtcfkpi." korqtvkpi."gzrqtvkpi"cpf"qvjgt"fgcnkpi" kp"jqog"rtqfwevu"qh"gxgt{"fguetkrvkqp"cpf"mkpf" kpenwfkpi"dgf/ujggvu."ewujkqp"eqxgtu." vcdng"enqvju."pcrmkpu." vqygnu."swknvu."ecpfngu."ugtxkpi"rncvvgtu."xcugu."fgeqtcvkxg" kvgou." ncpvgtpu."incuu"yctg."dct"yctg."et{uvcn"yctg." vcdng"yctg."rqtegnckp"yctg."
"
34;"
Fcvg"qh"ejcpig1"
shareholders’
tguqnwvkqp"
Pcvwtg"qh"cogpfogpv""
"
mkvejgp"yctg."jqog"cpf"mkvejgp"ceeguuqtkgu"cpf"ewvngt{"cu"ygnn"cu"qvjgt"ceeguuqtkgu"cpf"ikhv"kvgou"cpf"qvjgt"tgncvgf"rtqfwevu"hqt"jqog"wucig0”""
Uwduvkvwvkqp" qh" vjg" uwd/heading “QDLGEVU" KPEKFGPVCN" QT" CPEKNNCT[" VQ" VJG"CVVCKPOGPV"QH"VJG"OCKP"QDLGEVU” of clause III(B+"qh"vjg"Ogoqtcpfwo"qh"Cuuqekcvkqp"by “OCVVGTU" YJKEJ" CTG" PGEGUUCT[" HQT" HWTVJGTCPEG" QH" VJG" QDLGEVU"URGEKHKGF"KP"ENCWUG"KKK"*C+”""Encwugu" KKK*D+38" cpf" KKK*D+39" qh" vjg" Ogoqtcpfwo" qh" Cuuqekcvkqp" ygtg" tgrncegf" d{" vjg"hqnnqykpi"encwugu<""“380Uwdlgev" vq" vjg"rtqxkukqpu"qh"Ugevkqp"89"qh"vjg"Eqorcpkgu"Cev."4235"vq"kpxguv"qvjgt" vjcp"investment in company’s own shares, any money of the Company, not immediately required in cp{"kpxguvogpvu"oqxcdng"qt"kooqxcdng"cu"oc{"dg"vjqwijv"rtqrgt"cpf"jqnf"uwej"kpxguvogpvu0""390"Uwdlgev" vq" Ugevkqp" 95." 96." 97." 98." 39;." 3:2." 3:7" qh" vjg" Eqorcpkgu" Cev." 4235" cpf" vjg"Tgiwncvkqpu"ocfg"vjgtgwpfgt"cpf"vjg"fktgevkqpu" kuuwgf"d{"Tgugtxg"Dcpm"qh" Kpfkc" vq"tgegkxg"oqpg{"qp"fgrqukv"qt"nqcp"cpf"dqttqy"qt"tckug"oqpg{"kp"uwej"ocppgt"cu"vjg"Eqorcp{"ujcnn"vjkpm"hkv"cpf"kp"rctvkewnct"d{"vjg"kuuwg"qh"fgdgpvwtgu"qt"fgdgpvwtg/uvqem"*rgtrgvwcn"qt"qvjgtykug+"cpf"vq"ugewtg"vjg"rc{ogpv"qh"cp{"oqpg{"dqttqygf."tckugf"qt"qykpi"d{"oqtvicig."ejctig"qt"nkgp" wrqp" cnn" qt" cp{" qh" vjg" rtqrgtvkgu" qt" cuugvu" qh" vjg" Eqorcp{" *dqvj" rtgugpv" qt" hwvwtg+"kpenwfkpi" kvu" wpecnngf" ecrkvcn" cpf" cnuq" d{" ukoknct" oqtvicig." ejctig" qt" nkgp" vq" ugewtg" cpf"iwctcpvgg"vjg"rgthqtocpeg"d{"vjg"Eqorcp{."qt"uwej"qvjgt"rgtuqp"qt"Eqorcp{"qh"cp{"qh"kvu"qdnkicvkqpu"wpfgtvcmgp"d{"vjg"Eqorcp{0”""Vjg"encwug"KKK*E) on “QVJGT"QDLGEVU” was deleted and the sub/encwugu"3"vq"77"*gzegrv"uwd/clauses no. 47, 48 & 52) were shifted to the new clause III(B) on “OCVVGTU"YJKEJ"CTG"PGEGUUCT["HQT"HWTVJGTCPEG"QH"VJG"QDLGEVU"URGEKHKGF"KP"ENCWUG"KKK*C+” vide etgcvkqp"qh"pgy"uwd/encwugu"pwodgtu"57"vq":80""
Ugrvgodgt"43."4237" Vjg" cwvjqtkugf" ujctg"ecrkvcn" qh"qwt"Eqorcp{" ycu" cnvgtgf" htqo"` 762.327.222"fkxkfgf" kpvq"46.232.222"Gswkv{"Ujctgu"cpf"522.227"Ugtkgu/C"EERU"d{"tgencuukh{kpi"vjg"rtghgtgpeg"ujctg"ecrkvcn" qh" `" 522.227.222" fkxkfgf" kpvq" 20223'" 522.227" eqorwnuqtkn{" eqpxgtvkdng" ugtkgu" C"rtghgtgpeg" ujctgu" kpvq" Gswkv{" Ujctgu" d{" eqpewttgpvn{" etgcvkpi" gswkv{" ujctg" ecrkvcn" qh" ` 522.227.222"fkxkfgf"kpvq"52.222.722"Gswkv{"Ujctgu."ykvj"vjg"vqvcn"cwvjqtkugf"ujctg"ecrkvcn"qh"vjg"Eqorcp{"tgockpkpi"vjg"ucog"cv"`"762.327.2220""
Ugrvgodgt"9."4238" Cogpfogpv" qh" encwug" K" qh" vjg" Ogoqtcpfwo" qh" Cuuqekcvkqp" vq" ejcpig" vjg" pcog" qh" qwt"Eqorcp{"htqo"“Genesis Colors Private Limited” to “Genesis Colors Limited”0""
,"Vjg"kpetgcug"kp"vjg"cwvjqtk|gf"ujctg"ecrkvcn"ycu"rwtuwcpv"vq"c"uejgog"qh"ogtigt"dgvyggp"vjg"Eqorcp{"cpf"INGRN"yjkej"ycu"ucpevkqpgf"
d{"vjg"Jkij"Eqwtv"qh"Fgnjk"rwtuwcpv"vq"qtfgt"fcvgf"Cwiwuv"9."4235""
"
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[gct"
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"
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353"
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Igpguku"Eqnqtu"Okffng"Gcuv"H\G""
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357"
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"
358"
IND"Rcthwou"("Dgcwvg"Kpfkc"Rtkxcvg"Nkokvgf""IND"Rcthwou"("Dgcwvg"Kpfkc"Rtkxcvg"Nkokvgf"ycu"kpeqtrqtcvgf"wpfgt"vjg"Eqorcpkgu"Cev."3;78"qp"Fgegodgt"39."4234."cu"c"rtkxcvg"nkokvgf"eqorcp{"ykvj"vjg"TqE0"Kvu"EKP"ku"W735;3JT4234RVE269;57"cpf"kvu"tgikuvgtgf"qhhkeg"ku"nqecvgf"cv"74."Wf{qi"Xkjct."Rjcug"KX."Iwticqp"344"223."Jct{cpc."Kpfkc0"IND"Rcthwou"("Dgcwvg"Kpfkc"Rtkxcvg"Nkokvgf"ku"pqv"ewttgpvn{"gpicigf"kp"cp{"dwukpguu"cevkxkv{0"""IND"Rcthwou" ("Dgcwvg" Kpfkc"Rtkxcvg" Nkokvgf" ku" cp" kpfktgev" uwdukfkct{"qh" qwt"Eqorcp{." ykvj"INH"Nkhguv{ng"Dtcpfu"Rtkxcvg"Nkokvgf"*fktgevn{"cpf"kpfktgevn{."vjtqwij"kvu"pqokpgg."Ot0"Xktgpfgt"Djcukp+."jqnfkpi"322'"qh"kvu"kuuwgf"uwduetkdgf"cpf"rckf/wr"gswkv{"ujctg"ecrkvcn0"Vjg"cwvjqtk|gf"ujctg"ecrkvcn"qh"IND"Rcthwou"("Dgcwvg"Kpfkc"Rtkxcvg"Nkokvgf"ku"` 3.222.222"fkxkfgf"kpvq"322.222"gswkv{"ujctgu"qh"`32"gcej"cpf"kvu"rckf/wr"ujctg"ecrkvcn"ku"` ;54.222"fkxkfgf"kpvq";5.422"gswkv{"ujctgu"qh"` 32"gcej0""Vjgtg"ctg"pq"ceewowncvgf"rtqhkvu"qt"nquugu"qh"IND"Rcthwou"("Dgcwvg"Kpfkc"Rtkxcvg"Nkokvgf"pqv"ceeqwpvgf"hqt"d{"qwt"Eqorcp{0""IND"Dqf{"Ectg"Rtkxcvg"Nkokvgf""IND"Dqf{"Ectg"Rtkxcvg"Nkokvgf"ycu"kpeqtrqtcvgf"wpfgt"vjg"Eqorcpkgu"Cev."3;78"qp"Oc{"6."4234."cu"c"rtkxcvg"nkokvgf"eqorcp{"ykvj"vjg"TqE0"Kvu"EKP"ku"W735;3FN4234RVE4574;:"cpf"kvu"tgikuvgtgf"qhhkeg"ku"nqecvgf"cv"H/3:."Hktuv"Hnqqt."VFK"Hwp"Tgrwdnke."Qnf"Pcvtcl"Ekpgoc"Dwknfkpi."Oqvk"Pcict."Pgy"Fgnjk"/332"237."Kpfkc0"IND"Dqf{"Ectg"Rtkxcvg"Nkokvgf"ku"ewttgpvn{"pqv"gpicigf"kp"cp{"dwukpguu"cevkxkv{0"""IND"Dqf{"Ectg"Rtkxcvg"Nkokvgf" ku"cp"kpfktgev"uwdukfkct{"qh"qwt"Eqorcp{."ykvj"INH"Nkhguv{ng"Dtcpfu"Rtkxcvg"Nkokvgf"*fktgevn{"cpf"kpfktgevn{."vjtqwij"kvu"pqokpgg."Ot0"Ucplc{"Mcrqqt+."jqnfkpi"322'"qh"kvu"kuuwgf"uwduetkdgf"cpf"rckf/wr"gswkv{"ujctg"ecrkvcn0"Vjg"cwvjqtk|gf"ujctg"ecrkvcn"qh"IND"Dqf{"Ectg"Rtkxcvg"Nkokvgf"ku"` 82.222.222"fkxkfgf" kpvq" 8.222.222" gswkv{" ujctgu" qh" ` 32" gcej" cpf" kvu"rckf/wr" ujctg" ecrkvcn" ku" ` 37.929.592" fkxkfgf" kpvq"3.792.959"gswkv{"ujctgu"qh"`"32"gcej0"""Vjgtg"ctg"pq"ceewowncvgf"rtqhkvu"qt"nquugu"qh"IND"Dqf{"Ectg"Rtkxcvg"Nkokvgf"pqv"ceeqwpvgf"hqt"d{"qwt"Eqorcp{0""Qwt"Lqkpv"Xgpvwtgu""
"
Cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."qwt"Eqorcp{"jcu"vjtgg"lqkpv"xgpvwtgu."yjkej"ctg"cnuq"qwt"Cuuqekcvg"Eqorcpkgu0"""Fktgev"Lqkpv"Xgpvwtg""Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf""Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf"ycu"kpeqtrqtcvgf"qp"Lcpwct{"34."4232"wpfgt"vjg"Eqorcpkgu"Cev"3;78"rwtuwcpv"vq"a shareholders’ deed"fcvgf"Cwiwuv"39."422;"coqpiuv"Dwtdgtt{"Kpvgtpcvkqpcn"Jqnfkpiu"Nkokvgf"cpf"qwt"Eqorcp{0"Kvu"EKP"ku"W74322FN4232HVE3;9:96"cpf"kvu"tgikuvgtgf"qhhkeg"ku"nqecvgf"cv"5C/3."Vcl"Crctvogpv."Tcq"Vwnc"Tco"Octi." Pgy" Fgnjk/" 332" 244." Kpfkc0" Dwtdgtt{" Kpfkc" Rtkxcvg" Nkokvgf" ku" ewttgpvn{" gpicigf" kp" vjg" dwukpguu" qh"octmgvkpi"cpf"fkuvtkdwvkqp"qh"Dwtdgtt{"dtcpfgf"rtqfwevu"kp"Kpfkc0"""Vjg"cwvjqtk|gf"ujctg"ecrkvcn"qh"Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf"ku"` 772.222.222"fkxkfgf"kpvq"77.222.222"gswkv{"ujctgu"qh"` 32"gcej"cpf"kvu"rckf/wr"ujctg"ecrkvcn"ku"` 677.792.662"fkxkfgf"kpvq"67.779.266"gswkv{"ujctgu"qh"` 32"gcej0"Qwt"Eqorcp{"jqnfu"6;'"qh"vjg"kuuwgf."uwduetkdgf"cpf"rckf/wr"gswkv{"ujctg"ecrkvcn"qh"Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf."ykvj"vjg"dcncpeg"73'"dgkpi"jgnf"d{"Dwtdgtt{"Kpvgtpcvkqpcn"Jqnfkpiu"Nkokvgf0"""Kpfktgev"Lqkpv"Xgpvwtg""Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf"""
Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf"ycu"kpeqtrqtcvgf"qp"Octej"7."4234"wpfgt"vjg"Eqorcpkgu"Cev."3;78"rwtuwcpv"vq"c"lqkpv" xgpvwtg" citggogpv" fcvgf" Cwiwuv" 44." 4233" coqpiuv" Ecpcnk" Jqnfkpi" U0r0C" cpf" INH0" Kvu" EKP" ku"W747;2FN4234HVE454634"cpf"kvu"tgikuvgtgf"qhhkeg"ku"nqecvgf"cv"H/3:."VFK"Hwp"Tgrwdnke."Qnf"Pcvtcl"Ekpgoc"Dwknfkpi."Oqvk"Pcict."Pgy"Fgnjk"332"2370"Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf"ku"ewttgpvn{"gpicigf"kp"vjg"dwukpguu"qh"octmgvkpi"cpf"ugnnkpi"qh"‘Ecpcnk’ branded products in India0""
"
359"
"Vjg"cwvjqtk|gf"ujctg"ecrkvcn"qh"Ecpcnk" Kpfkc"Rtkxcvg"Nkokvgf" ku"` 472.222.222"fkxkfgf" kpvq"47.222.222"gswkv{"ujctgu"qh"` 32"gcej"cpf"kvu"rckf/wr"ujctg"ecrkvcn"ku"` 472.222.222"fkxkfgf"kpvq"47.222.222"gswkv{"ujctgu"qh"` 32"gcej0"INH"jqnfu"6;'"qh"vjg"kuuwgf."uwduetkdgf"cpf"rckf/wr"gswkv{"ujctg"ecrkvcn"qh"Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf."ykvj"vjg"dcncpeg"73'"jgnf"d{"Ecpcnk"Jqnfkpi"UrC0"""
X(D"Nkhguv{ng"Kpfkc"Rtkxcvg"Nkokvgf""X(D"Nkhguv{ng"Kpfkc"Rtkxcvg"Nkokvgf"ycu"kpeqtrqtcvgf"qp"Ugrvgodgt"38."4235"wpfgt"vjg"Eqorcpkgu"Cev."3;78"rwtuwcpv"vq"c"lqkpv"xgpvwtg"citggogpv"fcvgf"Lcpwct{"47."4235"coqpiuv"Xknngtq{"("Dqej"CI"cpf"INH0"Kvu"EKP"ku"W74322JT4235RVE272634"cpf"kvu"tgikuvgtgf"qhhkeg"ku"nqecvgf"cv"74."Wf{qi"Xkjct."Rjcug"KX."Iwticqp"344"223."Jct{cpc."Kpfkc0"X(D"Nkhguv{ng"Kpfkc"Rtkxcvg"Nkokvgf"ku"ewttgpvn{"gpicigf"kp"vjg"dwukpguu"qh"octmgvkpi"cpf"ugnnkpi"‘Xknngtq{"("Dqej’ branded rtgokwo"vcdngyctg"rtqfwevu0"""Vjg"cwvjqtk|gf"ujctg"ecrkvcn"qh"X(D"Nkhguv{ng"Kpfkc"Rtkxcvg"Nkokvgf"ku"`":4.622.222"fkxkfgf"kpvq":.462.222"gswkv{"ujctgu"qh"`"32"gcej"cpf"kvu"rckf/wr"ujctg"ecrkvcn"ku"` 9;.;22.222"fkxkfgf"kpvq"9.;;2.222"gswkv{"ujctgu"qh"` 32"gcej0"INH"jqnfu"72'"qh"vjg"kuuwgf."uwduetkdgf"cpf"rckf/wr"gswkv{"ujctg"ecrkvcn"qh"X(D"Nkhguv{ng"Kpfkc"Rtkxcvg"Nkokvgf."ykvj"vjg"tgockpkpi"72'"dgkpi"jgnf"d{"Xknngtq{"("Dqej"CI0"""
Eqphktocvkqpu"
"
Nkuvkpi""
Pqpg"qh"qwt"Uwdukfkctkgu"qt"Itqwr"Eqorcpkgu"ctg"nkuvgf"kp"Kpfkc"qt"cdtqcf0""
Ucng"qt"rwtejcugu"gzeggfkpi"32'"kp"ciitgicvg"qh"vjg"vqvcn"ucngu"qt"rwtejcugu"qh"qwt"Eqorcp{""
Other than as provided in “Hkpcpekcn"Uvcvgogpvu” on page 37;."vjgtg"jcxg"dggp"pq"ucngu"qt"rwtejcugu"coqpi"qwt"Uwdukfkctkgu"cpf1qt"Cuuqekcvg"Eqorcpkgu"yjkej"kp"ciitgicvg"gzeggf"kp"xcnwg"32'"qh"vjg"vqvcn"ucngu"qt"rwtejcugu"qh"qwt"Eqorcp{"cu"rgt"qwt"uvcpfcnqpg"hkpcpekcn"kphqtocvkqp"cu"qh"Octej"53."42380"""Ucng"qt"rwtejcug"qh"ujctgu"qh"qwt"Uwdukfkctkgu"kp"vjg"ncuv"ukz"oqpvju""
Gzegrv"vjg"cnnqvogpv"qh"32"gswkv{"ujctgu"qh"INH"vq"Ot0"Ucokv"Iwjc"qp"Ugrvgodgt"44."4238."rwtuwcpv"vq"gzgtekug"qh"qrvkqpu"itcpvgf"vq"jko"wpfgt"vjg"gornq{gg"uvqem"qrvkqp"uejgog"kpuvkvwvgf"d{"INH."pqpg"qh"qwt"Rtqoqvgtu."ogodgtu"qh"qwt"Rtqoqvgt"Itqwr."qwt"Fktgevqtu"cpf"vjgkt"tgncvkxgu"*cu"fghkpgf"wpfgt"vjg"Eqorcpkgu"Cev"4235+"jcxg"uqnf"qt"rwtejcugf"gswkv{"ujctgu"qh"qwt"Uwdukfkctkgu"kp"vjgkt"rgtuqpcn"ecrcekv{"fwtkpi"vjg"ukz"oqpvju"rtgegfkpi"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""Dwukpguu"Kpvgtguvu""Pqpg"qh"qwt"Uwdukfkctkgu"cpf"Cuuqekcvg"Eqorcpkgu"jcxg"cp{"dwukpguu"kpvgtguv"kp"qwt"Eqorcp{0""Uvtcvgike"cpf"hkpcpekcn"rctvpgtujkru"""
Cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."qwt"Eqorcp{"fqgu"pqv"jcxg"cp{"uvtcvgike"qt"hkpcpekcn"rctvpgtu0""
"
"
35:"
QWT"OCPCIGOGPV"
"Wpfgt"vjg"Ctvkengu"qh"Cuuqekcvkqp."qwt"Eqorcp{"ku"cwvjqtkugf"vq"jcxg"wr"vq"37"Fktgevqtu0"Cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."yg"jcxg"pkpg"Fktgevqtu"qp"qwt"Dqctf."eqortkukpi"vyq"gzgewvkxg"Fktgevqtu."hqwt"pqp/gzgewvkxg" Fktgevqtu" cpf" vjtgg" kpfgrgpfgpv" Fktgevqtu0" Vjg" Ejcktocp" qh" qwt" Dqctf."Ot0" Cvwn" Ukpij." ku" cp"kpfgrgpfgpv"Fktgevqt0"Hwtvjgt."yg"jcxg"qpg"yqocp"fktgevqt"qp"qwt"Dqctf0"Vjg"rtgugpv"eqorqukvkqp"qh"qwt"Dqctf"cpf"kvu"eqookvvggu"ku"kp"ceeqtfcpeg"ykvj"vjg"eqtrqtcvg"iqxgtpcpeg"tgswktgogpvu"rtqxkfgf"wpfgt"vjg"Eqorcpkgu"Cev."4235"cpf"UGDK"Nkuvkpi"Tgiwncvkqpu0"" "Qwt"Dqctf""" " " " "Vjg"hqnnqykpi"vcdng"ugvu"hqtvj"fgvcknu"tgictfkpi"qwt"Dqctf"cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
Pcog." fgukipcvkqp." cfftguu." qeewrcvkqp." pcvkqpcnkv{."
vgto"cpf"FKP""Cig"
*{gctu+"
Qvjgt"Fktgevqtujkru""
Ot0"Cvwn"Ukpij"
"Fgukipcvkqp<"Ejcktocp"cpf"Kpfgrgpfgpv"Fktgevqt""Cfftguu<"Xknnc"Ccujpc."Pq0"2:."Itggp"Cxgpwg."Xcucpv"Mwpl."Pgy"Fgnjk"332"292."Kpfkc"""Qeewrcvkqp<"Rtqhguukqpcn""Pcvkqpcnkv{<"Cogtkecp""Vgto<"Hkxg"{gctu"ykvj"ghhgev"htqo"Ugrvgodgt"37."4238"""FKP<"22282;65""
78" Hqtgkip"eqorcpkgu"30 Jkpfwuvcp" Eqec/Eqnc" Qxgtugcu" Rvg0"
Nkokvgf"40 Djctcv"Eqec/Eqnc"Qxgtugcu"Jqnfkpiu"Rvg0"
Nkokvgf"50 Uyktg"Dgxgtcigu"Nkokvgf"60 Eqec/Eqnc" Uqwvj" Cukc" *Kpfkc+" Jqnfkpiu"
Nkokvgf"70 Eqec/Eqnc"Hct"Gcuv"Nkokvgf"80 Eqorcuu"Nkokvgf"90 EQHEQ"Eqec/Eqnc"Dgxgtcigu"Nkokvgf":0 EQHEQ" Eqec/Eqnc" Dgxgtcigu" *Ejkpc+"
Kpxguvogpv"Nkokvgf""
Ot0"Ucplc{"Mcrqqt"
"Fgukipcvkqp<"Ocpcikpi"Fktgevqt""Cfftguu<":13."Hktuv"Hnqqt."Ujcpvk"Pkmgvcp."Pgy"Fgnjk/"332"243."Kpfkc""Qeewrcvkqp<"Dwukpguu""Pcvkqpcnkv{<"Kpfkcp""Vgto<"Hkxg"{gctu"ykvj"ghhgev"htqo"Ugrvgodgt"42."4238"
"FKP<"22486824"
6:""""
Kpfkcp"rtkxcvg"nkokvgf"eqorcpkgu"30 Igpguku"Qxgtugcu"Rtkxcvg"Nkokvgf""40 U0P0M"Tgcnvqt"Rtkxcvg"Nkokvgf"50 Ghhcevqt"Gxgpvu"Rtkxcvg"Nkokvgf"60 Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf"70 Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf"80 Igpguku"Nc"Oqfg"Rtkxcvg"Nkokvgf"90 Igpguku"Nwzwt{"Hcujkqp"Rtkxcvg"Nkokvgf":0 Pcucp"Ictogpvu"Rtkxcvg"Nkokvgf";0 ION"Kpfkc"Hcujkqp"Rtkxcvg"Nkokvgf"320 IND"Dqf{"Ectg"Rtkxcvg"Nkokvgf"330 Qnkxg"Dct"cpf"Mkvejgp"Rtkxcvg"Nkokvgf""
"
Ot0"Ucokv"Iwjc"
"Fgukipcvkqp<" Yjqng/vkog" Fktgevqt" cpf" Ejkgh" Hkpcpekcn"Qhhkegt"""Cfftguu<" Hncv/523." Vqygt/45" Xkrwn"Itggpu." Uqjpc" Tqcf."Iwticqp"/"344"23:."Jct{cpc."Kpfkc""Qeewrcvkqp<"Rtqhguukqpcn""Pcvkqpcnkv{<"Kpfkcp""Vgto<"Nkcdng"vq"tgvktg"d{"tqvcvkqp""FKP<"28:;:3;4""
68""""
Kpfkcp"rtkxcvg"nkokvgf"eqorcpkgu""30 ION"Kpfkc"Hcujkqp"Rtkxcvg"Nkokvgf"40 INH"Nkhguv{ng"Dtcpfu"Rtkxcvg"Nkokvgf"50 Igpguku"Nc"Oqfg"Rtkxcvg"Nkokvgf"60 X(D"Nkhguv{ng"Kpfkc"Rtkxcvg"Nkokvgf"70 IND"Dqf{ectg"Rtkxcvg"Nkokvgf"80 Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf"90 RcpHtkgf"Jqurkvcnkv{"Rtkxcvg"Nkokvgf""
"
Ou0"Pcnkpk"Iwrvc""
"Fgukipcvkqp<"Pqp/gzgewvkxg"Fktgevqt"""
74"""
Kpfkcp"rtkxcvg"nkokvgf"eqorcpkgu""30 Cektc"Uqnct"Rtkxcvg"Nkokvgf"40 Igpguku"Nwzwt{"Hcujkqp"Rtkxcvg"Nkokvgf""
"
35;"
Pcog." fgukipcvkqp." cfftguu." qeewrcvkqp." pcvkqpcnkv{."
vgto"cpf"FKP""Cig"
*{gctu+"
Qvjgt"Fktgevqtujkru""
Cfftguu<"438C."Jcoknvqp"Eqwtv."FNH"Rjcug"KX."Iwticqp"/344"223."Jct{cpc."Kpfkc""Qeewrcvkqp<"Rtqhguukqpcn""Pcvkqpcnkv{<"Kpfkcp""Vgto<"Nkcdng"vq"tgvktg"d{"tqvcvkqp""
"FKP<"2262922:""
"Kpfkcp"rwdnke"nkokvgf"eqorcp{"
30 TYN"Jgcnvjyqtnf"Nkokvgf"""
"""""
"
Ot0"Xkujcn"Mktvk"Mgujcx"Octycjc"
"Fgukipcvkqp<"Pqokpgg"Fktgevqt"""Cfftguu<"F/4."C1:."Xcucpv"Xkjct."Pgy"Fgnjk"/332"279."Kpfkc""Qeewrcvkqp<"Rtqhguukqpcn"""Pcvkqpcnkv{<"Kpfkcp""Vgto<"Nkcdng"vq"tgvktg"d{"tqvcvkqp""FKP<"22386426"
74""""
Kpfkcp"rwdnke"nkokvgf"eqorcp{""30 Lwdkncpv"HqqfYqtmu"Nkokvgf"
"Kpfkcp"rtkxcvg"nkokvgf"eqorcpkgu"
30 Jgpfgtuqp" Gswkv{" Rctvpgtu" Kpfkc" Rtkxcvg"Nkokvgf"
40 Igpguku"Nwzwt{"Hcujkqp"Rtkxcvg"Nkokvgf"50 KRG"Inqdcn"Rtkxcvg"Nkokvgf"60 Korgtkc"Jgcnvj"Rtkxcvg"Nkokvgf"
"Hqtgkip"eqorcp{""
30 JGR"Kpxguvogpv"*JM+"Nkokvgf""
Ot0"Xkmtco"Uwjcu"Iqfug"
"Fgukipcvkqp<"Pqokpgg"Fktgevqt""Cfftguu<" 354."Ujccp"Crctvogpvu."Mcujkpcvj"Fjwtw"Tqcf."Rtcdjcfgxk."Owodck"/"622"247."Ocjctcujvtc."Kpfkc"""Qeewrcvkqp<"Rtqhguukqpcn""Pcvkqpcnkv{<"Kpfkcp""Vgto<"Nkcdng"vq"tgvktg"d{"tqvcvkqp"""FKP<"2245276:"
65"""
Kpfkcp"rtkxcvg"nkokvgf"eqorcpkgu"30 Ejgvcm" Hctou" (" Citq" Cevkxkvkgu" Rtkxcvg"
Nkokvgf"40 Mkoc{c"Guvcvgu"Rtkxcvg"Nkokvgf"50 Cocik"Ogfkc"Ncdu"Rtkxcvg"Nkokvgf"60 NGCR"Kpfkc"Rtkxcvg"Nkokvgf"70 Ngpfkpimctv"Vgejpqnqikgu"Rtkxcvg"Nkokvgf"80 Ukornkngctp"Uqnwvkqpu"Rtkxcvg"Nkokvgf"90 Mpqynctkv{" Eqoowpkecvkqpu" Rtkxcvg"
Nkokvgf"""
Kpfkcp"rwdnke"nkokvgf"eqorcp{"30 Egpvwo"Ngctpkpi"Nkokvgf""
"Hqtgkip"eqorcp{""
30 Mpqynctkv{" Eqoowpkecvkqpu" Jqnfkpiu"Rvg0"Nkokvgf"
"
Ot0"Djctcfycl"Vjktwxgpmcvc"Xgpmcvcxctcijcxcp""
"Fgukipcvkqp<"Pqokpgg"Fktgevqt"""Cfftguu<"924."9vj"Qtejkf"Vqygt/C."4631464."Dgnncuku"Tqcf."Owodck"Egpvtcn"/"622"22:."Ocjctcujvtc."Kpfkc""Qeewrcvkqp<"Rtqhguukqpcn""Pcvkqpcnkv{<"Kpfkcp""Vgto<"Nkcdng"vq"tgvktg"d{"tqvcvkqp""FKP<"24;3:6;7""
5:""""
Kpfkcp"rwdnke"nkokvgf"eqorcpkgu"30 Gwikc"Rjctoc"Urgekcnkvkgu"Nkokvgf""40 Rtcvccr"Upcemu"Nkokvgf""
"
Kpfkcp"rtkxcvg"nkokvgf"eqorcpkgu""30 Ugswqkc" Ecrkvcn" Kpfkc" Cfxkuqtu" Rtkxcvg"
Nkokvgf"40 Rwtg"P"Uwtg"Hqqf"Dkvgu"Rtkxcvg"Nkokvgf"50 Uwdwtdcp" Fkcipquvkeu" *Kpfkc+" Rtkxcvg"
Nkokvgf"60 Jgevqt"Dgxgtcigu"Rtkxcvg"Nkokvgf""70 Kpfkiq"Rckpvu"Rtkxcvg"Nkokvgf"80 Kppqxectg"Nkhguekgpegu"Rtkxcvg"Nkokvgf"90 Iq"Hcujkqp"*Kpfkc+"Rtkxcvg"Nkokvgf":0 Tcm{cp"Dgxgtcigu"Rtkxcvg"Nkokvgf";0 Nc"Tgpqp"Jgcnvjectg"Rtkxcvg"Nkokvgf""
"
362"
Pcog." fgukipcvkqp." cfftguu." qeewrcvkqp." pcvkqpcnkv{."
vgto"cpf"FKP""Cig"
*{gctu+"
Qvjgt"Fktgevqtujkru""
320 Dtkijv"Nkhgectg"Rtkxcvg"Nkokvgf"""
Ot0"Ctwp"Ugvj"
"Fgukipcvkqp<"Kpfgrgpfgpv"Fktgevqt""Cfftguu<"C/9."Iggvcplcnk"Gpencxg."Pgy"Fgnjk"332"239."Kpfkc"""Qeewrcvkqp<"Rtqhguukqpcn""Pcvkqpcnkv{<"Kpfkcp""Vgto<"Hkxg"{gctu"ykvj"ghhgev"htqo"Ugrvgodgt"37."4238""FKP<"22426656""
86""
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"
Vjgtg"ku"pq"eqpvkpigpv"qt"fghgttgf"eqorgpucvkqp"rc{cdng"vq"qwt"Mg{"Ocpcigtkcn"Rgtuqppgn."yjkej"fqgu"pqv"hqto"rctv"qh"vjgkt"tgowpgtcvkqp0""Cttcpigogpvu"cpf"wpfgtuvcpfkpi"ykvj"oclqt"ujctgjqnfgtu."ewuvqogtu."uwrrnkgtu"qt"qvjgtu"
"
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"Vjg"ejcpigu"kp"qwt"Mg{"Ocpcigtkcn"Rgtuqppgn"fwtkpi"vjg"vjtgg"{gctu"koogfkcvgn{"rtgegfkpi"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ctg"ugv"hqtvj"dgnqy0""
Pcog" Fcvg" Tgcuqp"
Ot0"Pkmjkn"Ogjtc" Lwn{"3."4236" Crrqkpvgf"cu"Ejkgh"Qrgtcvkpi"Qhhkegt"Ot0"Cpqqr"Ecordgnn" Octej"37."4237" Tgukipgf"cu"Itqwr"Ejkgh"Hkpcpekcn"Qhhkegt""Ou0"Tgpw"Rtcucf" Oc{"4."4238" Crrqkpvgf"cu"Ejkgh"Qrgtcvkpi"Qhhkegt/"Qypgf"Dtcpf"
"
373"""
Pcog" Fcvg" Tgcuqp"
Ot0"Pkmjkn"Ogjtc" Lwpg"3."4238" Ejcpig"kp"fgukipcvkqp"htqo"Ejkgh"Qrgtcvkpi"Qhhkegt"vq"Itqwr"Ejkgh"Gzgewvkxg"Qhhkegt"
Ot0"Ucokv"Iwjc" Ugrvgodgt"36."4238" Crrqkpvgf"cu"Ejkgh"Hkpcpekcn"Qhhkegt"""
Gornq{gg"uvqem"qrvkqp"cpf"uvqem"rwtejcug"uejgogu"
"Hqt"fgvcknu"qh"vjg"gornq{gg"uvqem"qrvkqp"rncp"qh"qwt"Eqorcp{."IEN"UQR"4238"see “Ecrkvcn"Uvtwevwtg/"Gornq{gg"Uvqem"Qrvkqp"Uejgog” qp"rcig"940"""Rc{ogpv"qh"pqp/ucnct{"tgncvgf"dgpghkvu"vq"qhhkegtu"qh"qwt"Eqorcp{"
"Pq"coqwpv"qt"dgpghkv"jcu"dggp"rckf"qt"ikxgp"vq"cp{"qhhkegt"qh"qwt"Eqorcp{"ykvjkp"vjg"vyq"{gctu"rtgegfkpi"vjg"fcvg"qh"hknkpi"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"qt"ku"kpvgpfgf"vq"dg"rckf"qt"ikxgp."qvjgt"vjcp"kp"vjg"qtfkpct{"eqwtug"qh"vjgkt"gornq{ogpv0
""
374""
QWT"RTQOQVGTU."RTQOQVGT"ITQWR"CPF"ITQWR"EQORCPKGU"
"Vjg"Rtqoqvgtu"qh"qwt"Eqorcp{"ctg"Ot0"Ucplc{"Mcrqqt"cpf"vjg"Ucplc{"Mcrqqt"Vtwuv0"Cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."qwt"Rtqoqvgtu"jqnf."kp"vjg"ciitgicvg."7.426.347"Gswkv{"Ujctgu"yjkej"eqpuvkvwvgu"6;027'."of our Company’s pre/Qhhgt" rckf/wr" Gswkv{" Ujctg" ecrkvcn0" Hqt" fgvcknu" qh" vjg" dwknf/up of our Promoters’ shareholding in our Company, see “Ecrkvcn"Uvtwevwtg"–"Pqvgu"vq"Ecrkvcn"Uvtwevwtg” on"rcig"8:0"""
K0 Fgvcknu"qh"qwt"Rtqoqvgtu"
"
Ot0"Ucplc{"Mcrqqt""
"
" Ot0"Ucplc{"Mcrqqt"cigf"6:"{gctu."ku"qwt"Rtqoqvgt"cpf"Ocpcikpi"Fktgevqt0"""Tgukfgpvkcn"Cfftguu<":13."Hktuv"Hnqqt."Ujcpvk"Pkmgvcp."Pgy"Fgnjk" /"332"243."Kpfkc""Driver’s license number<"FN/24/3;;2223388;""Xqvgt"kfgpvkhkecvkqp"pwodgt<"PNP4263828""
For more information, see “Qwt"Ocpcigogpv” on page 35:0"""
"We confirm that Mr. Sanjay Kapoor’s PAN, passport number and bank account numbers will be submitted to the Uvqem"Gzejcpigu"cv"vjg"vkog"qh"uwdokuukqp"qh"vjg"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ykvj"vjgo0"""Ucplc{"Mcrqqt"Vtwuv""Ucplc{"Mcrqqt"Vtwuv"ycu"hqtogf"rwtuwcpv"vq"c"vtwuv"fggf"fcvgf"Oc{"35."42350"Vjg"qhhkeg"qh"Ucplc{"Mcrqqt"Vtwuv"ku"nqecvgf"cv":13"Hktuv"Hnqqt."Ujcpvk"Pkmgvcp."Pgy"Fgnjk"–"332243."Kpfkc0"Ot0"Ucplc{"Mcrqqt"ku"vjg"ugvvnqt"qh"vjg"Ucplc{"Mcrqqt"Vtwuv."cu"ygnn"cu"kvu"vtwuvgg0"""The beneficiaries of the Sanjay Kapoor Trust are Mr. Sanjay Kapoor’s wife, Ms. Nasib Kapoor, his daughters, Ou0"Pcvcnkc"Mcrqqt"cpf"Ou0"P{tc"Mcrqqt"cpf"hwvwtg"qhhurtkpi*u+."kh"cp{0"""Hkpcpekcn"Rgthqtocpeg""
(in ₹)"Rctvkewnctu" Cu"qp""
Octej"53."4238"
Cu"qp""
Octej"53."4237"
Cu"qp""
Octej"53."4236"
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"Yg"eqphkto"vjcv"vjg"RCP"cpf"dcpm"ceeqwpv"pwodgtu"qh"vjg"Ucplc{"Mcrqqt"Vtwuv"yknn"dg"uwdokvvgf"vq"vjg"Uvqem"Gzejcpigu"cv"vjg"vkog"qh"uwdokuukqp"qh"vjg"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ykvj"vjgo0""
Kpvgtguvu"qh"qwt"Rtqoqvgtu"cpf"Tgncvgf"Rctv{"Vtcpucevkqpu"
"
Kpvgtguv"qh"qwt"Rtqoqvgtu"kp"vjg"Rtqoqvkqp"qh"qwt"Eqorcp{""Qwt"Rtqoqvgtu"ctg"kpvgtguvgf"kp"qwt"Eqorcp{"vq"vjg"gzvgpv"qh"vjgkt"tgurgevkxg"ujctgjqnfkpi"kp"qwt"Eqorcp{"cpf"cp{" fkxkfgpf" qt" qvjgt" fkuvtkdwvkqpu" rc{cdng." kh" cp{." d{" qwt" Eqorcp{0" For further details of our Promoters’ ujctgjqnfkpi." ugg" “Ecrkvcn" Uvtwevwtg” qp"rcig" 8:0" Cffkvkqpcnn{." Ot0" Ucplc{" Mcrqqt" ku" cnuq" kpvgtguvgf" kp" qwt"Company as our Managing Director and any remuneration payable to him in such capacity. For details, see “Qwt"Ocpcigogpv” on page 35:0"""Kpvgtguv"qh"Rtqoqvgtu"kp"vjg"Rtqrgtv{"qh"qwt"Eqorcp{""Qwt"Rtqoqvgtu"fq"pqv"jcxg"cp{"kpvgtguv"kp"cp{"rtqrgtv{"ceswktgf"d{"qwt"Eqorcp{"fwtkpi"vjg"vyq"{gctu"rtgegfkpi"vjg"fcvg"qh"hknkpi"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"qt"cp{"rtqrgtv{"rtqrqugf"vq"dg"ceswktgf"d{"qwt"Eqorcp{"qt"kp"cp{"vtcpucevkqp"kp"vjg"ceswkukvkqp"qh"ncpf."eqpuvtwevkqp"qh"dwknfkpi"qt"uwrrn{"qh"ocejkpgt{0"
""
375""
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"Qwt"Rtqoqvgtu"ctg"pqv"kpxqnxgf"ykvj"cp{"xgpvwtg"yjkej"ku"kp"vjg"ucog"nkpg"qh"cevkxkv{"qt"dwukpguu"cu"wu0"""Fkucuuqekcvkqp"d{"qwt"Rtqoqvgtu"kp"vjg"rtgegfkpi"vjtgg"{gctu""
""Gzegrv"hqt"vjg"eguucvkqp"qh"fktgevqtujkr"cv"C|wtg"Kppqxcvkqpu"Rtkxcvg"Nkokvgf"d{"Ot0"Ucplc{"Mcrqqt."qp"ceeqwpv"qh"tgukipcvkqp."qwt"Rtqoqvgtu"jcxg"pqv"fkucuuqekcvgf"vjgougnxgu"htqo"cp{"xgpvwtg"fwtkpi"vjg"vjtgg"{gctu"rtgegfkpi"vjg"fcvg"qh"vjg"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
KK0 Rtqoqvgt"Itqwr""
Ugv"hqtvj"dgnqy"ku"c"nkuv"qh" vjg"ogodgtu"hqtokpi"rctv"qh"qwt"Rtqoqvgt"Itqwr."cu"qp"vjg"fcvg"qh" vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu<""
"U0"Pq0" Pcog"qh"ogodgt"qh"vjg"Rtqoqvgt"Itqwr"
30" Suraj Prakash Kapoor (Mr. Sanjay Kapoor’s father)"40" Asha Kapoor (Mr. Sanjay Kapoor’s mother)"50" Nasib Kapoor (Mr. Sanjay Kapoor’s spouse)"60" Vinay Kapoor (Mr. Sanjay Kapoor’s brqvjgt+"70" Natalia Kapoor (Mr. Sanjay Kapoor’s daughter)"80" Nyra Kapoor (Mr. Sanjay Kapoor’s daughter)"90" Radil Tuli (Ms. Nasib Kapoor’s sister)":0" Seema Grover (Ms. Nasib Kapoor’s sister)";0" Igpguku"Qxgtugcu"Rtkxcvg"Nkokvgf"320"" U0P0M0"Tgcnvqtu"Rtkxcvg"Nkokvgf"
""
376""
330" Xktvwcn"Zrqtv"Icvgyc{"Rtkxcvg"Nkokvgf"340"" Pcucp"Ictogpvu"Rtkxcvg"Nkokvgf"350" C|wtg"Kppqxcvkqpu"Rtkxcvg"Nkokvgf"360" Hkpigtvkr"Hqqfu"Rtkxcvg"Nkokvgf"370" Jgcnvjqpg"Vgejpqnqi{"Rtkxcvg"Nkokvgf"
"Hqt"fgvcknu"qh"vjg"ujctgjqnfkpi"qh"vjg"ogodgtu"qh"qwt"Rtqoqvgt"Itqwr"kp"qwt"Eqorcp{"cpf"xctkqwu"eqphktocvkqpu"in relation to the members of our Promoter Group, see “Ecrkvcn"Uvtwevwtg"–"Ujctgjqnfkpi"qh"qwt"Rtqoqvgtu"cpf"qwt"Rtqoqvgt"Itqwr” and “Qvjgt"Tgiwncvqt{"cpf"Uvcvwvqt{"Fkuenquwtgu” on pages 98"cpf"527."tgurgevkxgn{0""
KKK0 Itqwr"Eqorcpkgu"""
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Cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."qwt"Itqwr"Eqorcpkgu"eqortkug<"*k+"Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf="*kk+"Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf="*kkk+"X(D"Nkhguv{ng"Kpfkc"Rtkxcvg"Nkokvgf="*kx+"Igpguku"Qxgtugcu"Rtkxcvg"Nkokvgf="cpf"*x+"Urngpfqt"Fkuvtkdwvkqpu"Nvf0""Ugv"qwv"dgnqy"ctg"fgvcknu"qh"qwt"Itqwr"Eqorcpkgu0"Hqt"fgvcknu"qp"eqtrqtcvg"kphqtocvkqp."dwukpguu"cevkxkvkgu"cpf"qwt"ujctgjqnfkpi"kpvgtguv"kp"Itqwr"Eqorcpkgu"vjcv"ctg"cnuq"qwt"Lqkpv"Xgpvwtgu."k0g0"Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf."Canali India Private Limited and V&B Lifestyle India Private Limited, see “Jkuvqt{" cpf" Egtvckp" Eqtrqtcvg"Ocvvgtu"–"Qwt"Lqkpv"Xgpvwtgu” on paig"3580"""30" Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf"
"Hkpcpekcn"Kphqtocvkqp"
"*kp"` oknnkqp."gzegrv"qvjgtykug"uvcvgf+"" Hkuecn"4238" Hkuecn"4237" Hkuecn"4236"
Gswkv{"ujctg"ecrkvcn"" 677079" 677079" 677079"Tgugtxgu"cpf"uwtrnwu" *59205:+" *4;2058+" *475086+"Tgxgpwg"htqo"qrgtcvkqpu" ;25058" ::;089" :550;;"Nquu"hqt"vjg"{gct" *:2024+" *58094+" *;076+"Gctpkpiu1*nquu+"rgt"ujctg"(₹) *Dcuke+"
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""
377""
Hkpcpekcn"Kphqtocvkqp"""*kp"` oknnkqp."gzegrv""qvjgtykug"uvcvgf+"
" Hkuecn"4238" Hkuecn"4237" Hkuecn"4236"
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"*kp"` oknnkqp."gzegrv"qvjgtykug"uvcvgf+"" Hkuecn"4238" Hkuecn"4237" Hkuecn"4236"
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Pcog"qh"Ujctgjqnfgt" Pq0"qh"gswkv{"ujctgu" Rgtegpvcig"qh"ujctgjqnfkpi"
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Gswkv{"ecrkvcn"" 6072" 6072" 6072"
""
378""
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"Ukipkhkecpv"pqvgu"qh"cwfkvqtu""Vjgtg"ctg"pq"ukipkhkecpv"pqvgu"qh"vjg"cwfkvqtu"kp"tgncvkqp"vq"vjg"chqtgogpvkqpgf"hkpcpekcn"uvcvgogpvu0"""70" Urngpfqt"Fkuvtkdwvkqpu"Nvf"""SDL was incorporated as “L Capital GLF Ltd.” as a private limited company on June 8, 2011 under the Mauritian Eqorcpkgu"Cev."42230"Vjg"pcog"qh"N"Ecrkvcn"INH"Nvf"ycu"ejcpigf"vq"Urngpfqt"Fkuvtkdwvkqpu"Nvf"qp"Qevqdgt"35."42370" Kvu"eqtrqtcvg" kfgpvkhkecvkqp"pwodgt" ku"E325434E31IDN0"Kvu" tgikuvgtgf"qhhkeg" ku"ukvwcvgf"cv"Uwkvg"623."6vj"Hnqqt."Gdgpg"Gurncpcfg."46"E{dgtekv{."Gdgpg."Ocwtkvkwu0"Cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."UFN"ku"gpicigf"kp"vjg"dwukpguu"qh"cevkpi"cu"cp"kpxguvogpv"jqnfkpi"eqorcp{0"""Vjg"ujctgjqnfkpi"rcvvgtp"qh"UFN"ku"ugv"hqtvj"dgnqy0"""
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Kpvgtguv"qh"qwt"Rtqoqvgtu"
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Gzegrv"our Promoter, Mr. Sanjay Kapoor’s directorship in Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf."Ecpcnk"Kpfkc"Rtkxcvg"Nkokvgf."ujctgjqnfkpi"cpf"fktgevqtujkr"kp"Igpguku"Qxgtugcu"Rtkxcvg"Nkokvgf."qwt"Rtqoqvgtu"fq"pqv"jcxg"cp{"qvjgt"kpvgtguv"kp"vjg"Itqwr"Eqorcpkgu0"""
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"
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217
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53"Octej"4237
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53"Octej"4236
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53"Octej"4235
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53"Octej"4238
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53"Octej"4235
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53"Octej"4234
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6+ Vjg Eqorcp{ jcu fgenctgf dqpwu ujctgu kp vjg tcvkq qh 3 < 6 vq cnn gzkuvkpi ujctgjqnfgtu yjkej jcu dggpcrrtqxgf d{ vjg ujctg jqnfgtu kp gzvtc qtfkpct{ igpgtcn oggvkpi jgnf qp 36 Ugrvgodgt 42380 Kp cffkvkqp vq vjcv.vjg Eqorcp{ jcu cnuq eqpxgtvgf vjg ujctg ycttcpvu kpvq 34:.577 gswkv{ ujctgu qh Tu0 32 gcej cv c rtgokwo qhTu0 324: rgt ujctg0 Jqygxgt. vjg fgdv1 gswkv{ tcvkq eqorwvgf cdqxg ku dghqtg eqpukfgtkpi vjg korcev qh dqpwukuuwg"cpf"eqpxgtukqp"qh"ujctg"ycttcpvu"kp"vq"gswkv{"ujctgu0"
Vjg cdqxg uvcvgogpv ujqwnf dg tgcf ykvj vjg Tguvcvgf Eqpuqnkfcvgf Uwooct{ Uvcvgogpvu qh Cuugvu cpfNkcdknkvkgu. Tguvcvgf Eqpuqnkfcvgf Uwooct{ Uvcvgogpv qh Rtqhkv cpf Nquu. Tguvcvgf Eqpuqnkfcvgf Uwooct{Uvcvgogpv qh Ecuj Hnqyu cpf Ukipkhkecpv Ceeqwpvkpi Rqnkekgu. Cflwuvogpvu vq vjg Cwfkvgf Eqpuqnkfcvg HkpcpekcnUvcvgogpvu cpf Pqvgu vq vjg Tguvcvgf Eqpuqnkfcvgf Hkpcpekcn Kphqtocvkqp cu crrgctkpi kp Cppgzwtg K vqCppgzwtg"KX0
271
Igpguku"Eqnqtu"Nkokvgf"*hqtogtn{"mpqyp"cu"Igpguku"Eqnqtu"Rtkxcvg"Nkokvgf +
Cppgzwtg"ZKX
Tguvcvgf"Eqpuqnkfcvgf"Uvcvgogpv"qh"Eqpvkpigpv"Nkcdknkvkgu"cpf"Ecrkvcn"Eqookvogpvu
*Cnn"coqwpvu"ctg"kp"KPT"Oknnkqpu."wpnguu"qvjgtykug"uvcvgf+
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Octej"4238
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Fkxkfgpf"qp"eqorwnuqt{"eqpxgtvkdng"fgdgpvwtgu / / 2024 2024 2023Fgocpfu"d{"kpeqog"vcz"cwvjqtkvkgu / / / 4302: 4302:
Ecrkvcn"cpf"qvjgt"eqookvogpvu<
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/ 3303; / 34027 20;4
Pqvg<"Vjg"cdqxg"uvcvgogpv"ujqwnf"dg"tgcf"ykvj"Cppgzwtg"K"vq"Cppgzwtg"KX"qh"vjg"Tguvcvgf"Eqpuqnkfcvgf"Hkpcpekcn"Kphqtocvkqp0
272
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Rctvkewnctu Cu"cv"cpf"Hqt"vjg"
{gct"gpfgf"53"
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{gct"gpfgf"53"
Octej"4237
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{gct"gpfgf"53"
Octej"4236
Cu"cv"cpf"Hqt"vjg"
{gct"gpfgf"53"
Octej"4235
Cu"cv"cpf"Hqt"vjg"
{gct"gpfgf"53"
Octej"4234
Gswkv{"Ujctg"Ecrkvcn 420;8"""""""""""""""""""""" 42099"""""""""""""""""""""" 42099"""""""""""""""""""""" 539076"""""""""""""""""""" 539076""""""""""""""""""""Pwodgt"qh"gswkv{"ujctgu 4.2;8.3:;"""""""""""""" 4.298.927"""""""""""""" 4.298.927"""""""""""""" 4.298.927"""""""""""""" 4.298.927""""""""""""""
Fkxkfgpfu"fgenctgf"fwtkpi"vjg"{gct /""""""""""""""""""""""""" /""""""""""""""""""""""""" /""""""""""""""""""""""""" /""""""""""""""""""""""""" /"""""""""""""""""""""""""
'"Fkxkfgpf"fgenctgf 2022' 2022' 2022' 2022' 2022'
Pqvg<"Vjg"cdqxg"uvcvgogpv"ujqwnf"dg"tgcf"ykvj"Cppgzwtg"K"vq"Cppgzwtg"KX"qh"vjg"Tguvcvgf"Eqpuqnkfcvgf"Hkpcpekcn"Kphqtocvkqp0
273
""
496""
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
QRGTCVKQPU"
"[qw"ujqwnf"tgcf"vjg"hqnnqykpi"fkuewuukqp"qh"qwt"hkpcpekcn"eqpfkvkqp"cpf"tguwnvu"qh"qrgtcvkqpu"vqigvjgt"ykvj"qwt"tguvcvgf"eqpuqnkfcvgf"hkpcpekcn"kphqtocvkqp"kpenwfkpi"vjg"pqvgu"cpf"ukipkhkecpv"ceeqwpvkpi"rqnkekgu"vjgtgvq"cpf"vjg"tgrqtvu"vjgtgqp."yjkej"crrgct"gnugyjgtg"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"[qw"ujqwnf"cnuq" ugg"$Tkum"Hcevqtu$"and “Hqtyctf"Nqqmkpi"Uvcvgogpvu” qp"rcigu"38"cpf"37."yjkej"fkuewuugu"c"pwodgt"qh" hcevqtu"cpf"eqpvkpigpekgu"vjcv"eqwnf"korcev"qwt"hkpcpekcn"eqpfkvkqp"cpf"tguwnvu"qh"qrgtcvkqpu0"Vjg"hqnnqykpi"fkuewuukqp"tgncvgu"vq"qwt"Eqorcp{."wpnguu"qvjgtykug"uvcvgf."ku"dcugf"qp"tguvcvgf"eqpuqnkfcvgf"hkpcpekcn"kphqtocvkqp0"Kp"vjku"Ftchv"Red Herring Prospectus, references to “revenue from Owned Brands” includes, in addition to revgpwgu"htqo"Ucv{c" Rcwn"cpf"Dy#vej." tgxgpwgu" htqo" rtkxcvg/ncdgn" eqpvtcev" ocpwhcevwtkpi"cpf" fkuvtkdwvkqp" hqt" egtvckp"vjktf/rctv{"dtcpfu" *yjkej" eqpvtkdwvgf" 7074'."30;7'"cpf":058'" vq"qwt" vqvcn" tgxgpwg" htqo"Qypgf"Dtcpfu" kp"Hkuecnu"4236."4237"cpf"4238."tgurgevkxgn{+."uqog"qh"yjkej"yg"jcxg"egcugf"vq"ocpwhcevwtg1fkuvtkdwvg"gkvjgt"dghqtg"qt"ykvj"ghhgev" htqo"Crtkn"3."4238."cu"crrnkecdng0"Hwtvjgt." kp" vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."tghgtgpegu" vq"“revenue from International Brands” means revenues from the distributiop"cpf"ucng"qh"uwej"kpvgtpcvkqpcn"nwzwt{"cpf"rtgokwo"dtcpfu"cu"ctg"rctv"qh"qwt"rqtvhqnkq"htqo"vkog"vq"vkog."kp"tgurgev"qh"yjkej"yg"jcxg"fkuvtkdwvkqp"tkijvu"kp"Kpfkc0"Cu"qh"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."yg"jcxg"vjg"tkijvu"vq"fkuvtkdwvg"38"uwej"kpvgtpcvkqpcn"dtcpfu."cu"fguetkdgf"kp"oqtg"fgvckn"in “Qwt"Dwukpguu” on page 104. ""Vjku" tguvcvgf" eqpuqnkfcvgf" hkpcpekcn" kphqtocvkqp" jcxg" dggp" fgtkxgf" htqo" qwt" cwfkvgf" eqpuqnkfcvgf" hkpcpekcn"uvcvgogpvu"rtgrctgf"kp"ceeqtfcpeg"ykvj"Kpfkcp"ICCR."vjg"Eqorcpkgu"Cev"cpf"vjg"UGDK"KEFT"Tgiwncvkqpu"cpf"tguvcvgf"cu"fguetkdgf"kp"vjg"tgrqtv"qh"qwt"cwfkvqtu"fcvgf"Ugrvgodgt"42."4238."yjkej"ku"kpenwfgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"wpfgt"$Hkpcpekcn"Uvcvgogpvu$0"Vjg"tguvcvgf"eqpuqnkfcvgf"hhkpcpekcn"kphqtocvkqp"jcxg"dggp"rtgrctgf"qp"c"dcuku"vjcv"fkhhgtu"kp"egtvckp"ocvgtkcn"tgurgevu"htqo"igpgtcnn{"ceegrvgf"ceeqwpvkpi"rtkpekrngu"kp"qvjgt"lwtkufkevkqpu."kpenwfkpi"WU"ICCR"cpf"KHTU."cu"ygnn"cu"KPF*CU+."yjkej"ujcnn"dg"crrnkecdng"vq"qwt"Eqorcp{."kp"ceeqtfcpeg"ykvj"crrnkecdng" ncy0"Yg"fq"pqv"rtqxkfg"c" tgeqpeknkcvkqp"qh"qwt" tguvcvgf"eqpuqnkfcvgf" hkpcpekcn"kphqtocvkqp"vq"WU"ICCR."KHTU"qt"KPF*CU+"cpf"yg"jcxg"pqv"qvjgtykug"swcpvkhkgf"qt"kfgpvkhkgf"vjg"korcev"qh"vjg"fkhhgtgpegu"dgvyggp"Kpfkcp"ICCR"cpf"W0U0"ICCR."KHTU"qt" KPF*CU+."cu"crrnkgf" vq"qwt"tguvcvgf"eqpuqnkfcvgf"hkpcpekcn" kphqtocvkqp0"Ceeqtfkpin{." vjg"fgitgg"vq"yjkej"vjg" tguvcvgf"eqpuqnkfcvgf"hkpcpekcn" kphqtocvkqp"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"yknn"rtqxkfg"ogcpkpihwn"kphqtocvkqp"fgrgpfu"gpvktgn{"qp"uwej"rqvgpvkcn"kpxguvqt)u"ngxgn"qh"hcoknkctkv{"ykvj"Kpfkcp"ceeqwpvkpi"rtcevkegu0"Qwt"Hkuecn"{gct"gpfu"qp"Octej"53"qh"gcej"{gct="vjgtghqtg."cnn"tghgtgpegu"vq"c"rctvkewnct"hkuecn"ctg"vq"vjg"vygnxg/oqpvj"rgtkqf"gpfgf"Octej"53"qh"vjcv"{gct0"Ugg"cnuq"$Egtvckp"Eqpxgpvkqpu."Wug"qh"Hkpcpekcn."Kpfwuvt{"cpf"Octmgv"Fcvc"cpf"Ewttgpe{"qh"Rtgugpvcvkqp$"qp"rcig"340""Qxgtxkgy""
"
Yg"ctg"c"ngcfkpi"rncvhqto"hqt"nwzwt{"cpf"rtgokwo"dtcpfu"kp"Kpfkc0"*Uqwteg<"H(U"Tgrqtv+"Yg"fkuvtkdwvg"kp"vjg"Indian market, some of the world’s marquee international luzwt{"dtcpfu"cpf"qwt"qyp"dtcpfu."Ucv{c"Rcwn"cpf"Dy#vej"(which we refer to as our “Qypgf"Dtcpfu”), with products across the apparel, accessories, travel and lifestyle segments, through a network of 98 exclusive brand outlets (“GDQu”) across India, as well as"vjtqwij"nctig" hqtocv" tgvckn" qwvngvu" cpf" qvjgt"fkuvtkdwvkqp" ejcppgnu" kp" vjg"ecug" qh" qwt" Qypgf" Dtcpfu0" Qwt"rqtvhqnkq" qh"kpvgtpcvkqpcn"nwzwt{"dtcpfu"kpenwfgu"vjg"Ctocpk"dtcpfu"*Ikqtikq"Ctocpk."Gorqtkq"Ctocpk."Ctocpk"Lgcpu"cpf"C~Z"Ctocpk"Gzejcpig+."Dqvvgic"Xgpgvc."Dwtdgtt{."Ecpcnk."Eqcej."Hwtnc."I/Uvct"Tcy."Jwiq"Dquu."Lkoo{"Ejqq."Okejcgn"Mqtu."Rcwn"Uokvj."Vwok"cpf"Xknngtq{"("Dqej"(which we refer to as the “Kpvgtpcvkqpcn"Dtcpfu”). Under qwt"cttcpigogpvu"ykvj"vjgug"dtcpfu"yg"jcxg"tkijvu"vq"fkuvtkdwvg"vjgkt"rtqfwevu"kp"Kpfkc"cetquu"xctkqwu"ejcppgnu0"Qwt"Qypgf"Dtcpf."Ucv{c"Rcwn."qhhgtu"rtqfwevu"cetquu"vjg"rtgokwo"crrctgn"cpf"ceeguuqtkgu"ecvgiqtkgu"hqt"yqogp"cpf"ogp"cpf"ku"qpg"qh"vjg"ngcfkpi"dtcpfu"kp"Kpfkc"kp"vjg"dtcpfgf"gvjpke"ygct"ecvgiqt{0"*Uqwteg<"H(U"Tgrqtv+0"Dy#vej"ku"qpg"qh"vjg"mg{"dtcpfu"kp"vjg"hcuv"itqykpi"dtcpfgf"rtgokwo1dtkfig"vq"nwzwt{"nkpigtkg"ecvgiqt{"kp"Kpfkc0"*Uqwteg<"H(U"Tgrqtv+"Yg"dgnkgxg"vjcv"ykvj"qwt"fkxgtug"rqtvhqnkq"qh"dtcpfu."yjkej"qhhgt"c"ykfg"tcpig"qh"yguvgtp"cpf"gvjpke" Kpfkcp"rtqfwevu."yg"ctg"ygnn"rqukvkqpgf" vq" kphnwgpeg" vjg"rwtejcukpi"rcvvgtpu"qh" vjg"chhnwgpv" Kpfkcp"eqpuwogt0""Yg"rkqpggtgf"vjg"eqpegrv"qh" nwzwt{"tgvcknkpi" kp"Kpfkc"d{"ceswktkpi"fkuvtkdwvkqp"tkijvu"hqt"ngcfkpi"kpvgtpcvkqpcn"nwzwt{"dtcpfu"yjkej"yqwnf"crrgcn"vq"Kpfkcp"nwzwt{"eqpuwogtu0"*Uqwteg<"H(U"Tgrqtv+"Qwt"fggr"wpfgtuvcpfkpi"qh"vjg"vcuvg"cpf"rtghgtgpegu"qh"vjg"Kpfkcp"eqpuwogt"qh"nwzwt{"rtqfwevu"jgnru"wu"dtkpi"vq"vjg"Kpfkcp"octmgv"c"ugngevkqp"qh"ogtejcpfkug"vcknqtgf"vq"nqecn"cguvjgvkeu"htqo"dtcpfu"vjcv"yg"rgtegkxg"vq"dg"tgngxcpv"vq"vjg"octmgv."cetquu"xctkqwu"rtkeg"rqkpvu"ykvjkp"vjg"nwzwt{"ugiogpv0"Cu"qp"Cwiwuv"53."4238."qwt"Kpvgtpcvkqpcn"Dtcpfu"ygtg"uqnf"cv"79"GDQu"cetquu"ugxgp"Kpfkcp"ekvkgu0"Cv"vjg"GDQu"qrgtcvgf"d{"qwt"Uwdukfkctkgu."cpf"vjtqwij"qwt"htcpejkugg"hqt"vjg"qvjgt"GDQu."yg"hqewu"qp"gpuwtkpi"fgnkxgt{"qh"c"ujqrrkpi"gzrgtkgpeg"vjcv"ku"eqorctcdng"vq"inqdcn"uvcpfctfu."ykvj"vjg"ncvguv"eqnngevkqpu" cv"eqorgvkvkxg"rtkegu" kp" c" nwzwtkqwu" ujqrrkpi" gpxktqpogpv0"Vjgug" hcevqtu." vqigvjgt" ykvj"qwt"
""
497""
cdknkv{"vq"qhhgt"ceeguu"vq"cp"chhnwgpv"cpf"nq{cn"enkgpvgng"cpf"rtgokwo"tgcn"guvcvg."ocmgu"wu"c"rctvpgt"qh"ejqkeg"kp"vjg"Kpfkcp"octmgv"hqt"kpvgtpcvkqpcn"nwzwt{"dtcpfu."qp"xkcdng"vgtou0"Yg"jcxg"gpvgtgf"kpvq"lqkpv"xgpvwtg"citggogpvu"kp"tgncvkqp"vq"Dwtdgtt{."Ecpcnk"cpf"Xknngtq{"("Dqej."rwtuwcpv"vq"yjkej."rtqfwevu"qh"vjgug"dtcpfu"ctg"uqnf"cv"uvqtgu"operated by the respective joint venture companies (“LXu”). We distribute the other International Brands through vjktf/rctv{"htcpejkuggu"crrqkpvgf"d{"wu"qt"vjtqwij"egtvckp"qh"qwt"Uwdukfkctkgu0"Yg"jcxg"cnuq"tgegpvn{"gpvgtgf"kpvq"c"rctvpgtujkr"ykvj"Vcvc"Wpkuvqtg"Nkokvgf."vq"vctigv"vjg"nwzwt{"eqpuwogt"qp"vjg"kpvgtpgv"kp"Kpfkc."vjtqwij"vjg"qpnkpg"rncvhqto"Vcvc"Enks."c"ewtcvgf"octmgvrnceg"hqt"nwzwt{"dtcpfu"vq"ugnn"rtqfwevu"vjtqwij"fgfkecvgf"qpnkpg"uvqtghtqpvu0""Ykvj"tgurgev"vq"qwt"Qypgf"Dtcpfu."yg"jcxg"itqyp"Ucv{c"Rcwn."yjkej"ycu"ceswktgf"d{"wu"kp"4224."htqo"c"yqogp/hqewugf"dtcpf"vq"qpg"qh"vjg"ngcfkpi"dtcpfu"kp"Kpfkc"kp"vjg"dtcpfgf"gvjpke"ygct"ecvgiqt{."ykvj"rtqfwevu"cetquu"vjg"crrctgn"cpf"ceeguuqtkgu"ecvgiqtkgu0"Ucv{c"Rcwn"is positioned as “affordable luxury wear” and is recognized for its xkdtcpv"cpf"eqnqwthwn"rtkpvu"cpf"fgukipu0"Yg"jcxg"dggp"uweeguuhwn"kp"gzrcpfkpi"vjg"fgoqitcrjke"rtqhkng"qh"vctigv"ewuvqogtu" hqt" Ucv{c" Rcwn" rtqfwevu" d{" fgxgnqrkpi" vjg" ceeguuqtkgu" rtqfwev" rqtvhqnkq" wpfgt" vjg" dtcpf" cpf" d{"tgcejkpi"qwv"vq"{qwpigt."eqpvgorqtct{"ewuvqogtu"vjtqwij"qwt"tgegpvn{"ncwpejgf"rtgv"nkpg"qh"kpfq/yguvgtp"hwukqp"uknjqwgvvgu."wpfgt" vjg"dtcpf"Enwd"UR0"Satya Paul’s"rtqfwev"rqtvhqnkq" kpenwfgu"rtkpvgf"cpf"godtqkfgtgf" uctggu."tgcf{" vq"ygct"crrctgn."dtkfcn"ygct" hqt"yqogp"cpf"ceeguuqtkgu" kpenwfkpi"uectxgu."dciu." vkgu."dgnvu."ycnngvu"cpf"ewhhnkpmu."hqt"ogp"cpf"yqogp0"Hwtvjgt."yg"ncwpejgf"Dy#vej" kp"4229."yjgp"yg"rgtegkxgf"c"ukipkhkecpv"octmgv"qrrqtvwpkv{"kp"vjg"rtgokwo"dtcpfgf"nkpigtkg"ugiogpv."yjkej"ku"c"hcuv"itqykpi"ecvgiqt{"kp"Kpfkc"*Uqwteg<"H(U"Tgrqtv+0"Rtqfwev"ecvgiqtkgu"wpfgt"vjg"Dy#vej"dtcpf"kpenwfg"nkpigtkg."kppgtygct."ujcrgygct."pkijvygct."uykoygct"cpf"ceeguuqtkgu0""Ucv{c"Rcwn"cpf"Dy#vej"rtqfwevu"ctg"eqpegrvwcnk|gf."fgukipgf"cpf"fgxgnqrgf"d{"qwt"kp/jqwug"vgco0"Cnn"crrctgn"cpf"egtvckp"hcdtke"dcugf"ceeguuqtkgu"wpfgt"vjg"Ucv{c"Rcwn"dtcpf"cpf"egtvckp"Dy#vej"rtqfwevu"ctg"ocpwhcevwtgf"cv"hceknkvkgu"ukvwcvgf"kp"Jct{cpc"*Iwticqp"cpf"Ocpguct+."Kpfkc0"Yg"fkuvtkdwvg"qwt"Qypgf"Dtcpfu"vjtqwij"xctkqwu"ucngu"cpf"fkuvtkdwvkqp"ejcppgnu"kp"Kpfkc."kpenwfkpi"htcpejkugg"qrgtcvgf"GDQu."ujqr/kp/ujqru"kp"nctig"hqtocv"ownvk/dtcpf"uvqtgu."kpvgtpgv"ucngu"rncvhqtou."cu"ygnn"cu."kp"vjg"ecug"qh"Ucv{c"Rcwn."vjtqwij"vjg"eqtrqtcvg"ucngu"ejcppgn0"Cu"qp"Cwiwuv"53."4238."Ucv{c"Rcwn"rtqfwevu"ygtg"uqnf"cv"5:"uwej"GDQu"cetquu"3;"ekvkgu"cpf";;"ujqr/kp/ujqru"cetquu"Kpfkc0"Cffkvkqpcnn{."Ucv{c"Rcwn"rtqfwevu"ygtg"cnuq"uqnf"qpnkpg"cv"yyy0ucv{crcwn0eqo"cpf"hkxg"qvjgt"kpvgtpgv"ucngu"rncvhqtou."cu"ygnn"cu"kpvgtpcvkqpcnn{."kp"vjg"Wpkvgf"Uvcvgu."Ecpcfc"cpf"Fwdck."vjtqwij"nqecn"fkuvtkdwvqtu"kp"vjgug"octmgvu0"Dy#vej"rtqfwevu"ygtg"uqnf"cv"vjtgg"uwej"GDQu"cetquu"3;"ekvkgu"cpf"374"ujqr/kp/ujqr"qwvngvu"cpf"443"nqecn"vtcfg"uvqtgu"cetquu"Kpfkc."cpf"vjtqwij"ukz"kpvgtpgv"ucngu"rncvhqtou."cu"qp"Cwiwuv"53."42380""Our consolidated revenue from operations increased from ₹ 3,597.77 million in Hkuecn"2014 to ₹ 4,321.62 million kp"Hkuecn"2016, representing a CAGR of 9.60%. Our revenue from the International Brands increased from ₹ 4.778096"oknnkqp" kp" Hkuecn" 2014 to ₹ 3,179.94 million in Hkuecn" 4238." tgrtgugpvkpi" c" ECIT" qh" 33074'" cpf"eqortkugf"93028'."95044'"cpf"9507:'"qh"qwt"eqpuqnkfcvgf"tgxgpwg"htqo"qrgtcvkqpu"fwtkpi"Hkuecnu"4236."4237"cpf"4238."tgurgevkxgn{0"Qwt"tgxgpwg"htqo"Qypgf"Dtcpds increased from ₹ 1,063025"oknnkqp"kp"Hkuecn"2014 to ₹ 3.36308:"oknnkqp"kp"Hkuecn"4238."tgrtgugpvkpi"c"ECIT"qh"6094'"cpf"eqortkugf"4:0;6'."4809:'"cpf"48064'"qh"qwt"eqpuqnkfcvgf"tgxgpwg"htqo"qrgtcvkqpu"fwtkpi"Hkuecnu"4236."4237"cpf"4238."tgurgevkxgn{0"Qwt"qxgtcnn"GDKVFC"kpetgcugf"htqo"₹"342049"oknnkqp"kp"Hkuecn"4236"vq"₹"644088"oknnkqp"kp"Hkuecn"4238."cv"c"ECIT"qh":90:5'0""""Ukipkhkecpv"Hcevqtu"Chhgevkpi"qwt"Tguwnvu"qh"Qrgtcvkqpu"
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""
498""
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""
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Yqtmkpi"Ecrkvcn"cpf"Kpxgpvqt{"Ocpcigogpv"""
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""
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""
4:2""
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f0 Kpvcpikdng"hkzgf"cuugvu"
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g0 Fgrtgekcvkqp"cpf"coqtvk|cvkqp"
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""
4:3""
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i0 Korcktogpv"
"Vjg"ectt{kpi"coqwpvu"qh"cuugvu"ctg"tgxkgygf"cv"gcej"Dcncpeg"Ujggv"fcvg"kp"ceeqtfcpeg"ykvj"Ceeqwpvkpi"Uvcpfctf"4:" )Korcktogpv"qh"Cuugvu)." vq"fgvgtokpg"yjgvjgt" vjgtg" ku"cp{" kpfkecvkqp"qh" korcktogpv0" Kh" cp{"uwej" kpfkecvkqp"gzkuvu." vjg" cuugv)u" tgeqxgtcdng" coqwpv" ku" guvkocvgf0" Cp" korcktogpv" nquu" ku" tgeqipkugf" yjgpgxgt" vjg" ectt{kpi"coqwpv"qh"cp"cuugv"gzeggfu"kvu"tgeqxgtcdng"coqwpv0"Korcktogpv"nquugu"ctg"tgeqipkugf"kp"vjg"Uvcvgogpv"qh"Rtqhkv"cpf" Nquu0" Cp" korcktogpv" nquu" ku" tgxgtugf" kh" vjgtg" jcu"dggp" c" ejcpig" kp" vjg" guvkocvgu" wugf" vq" fgvgtokpg" vjg"tgeqxgtcdng"coqwpv0"Cp"korcktogpv"nquu"ku"tgxgtugf"qpn{"vq"vjg"gzvgpv"vjcv"vjg"cuugv)u"ectt{kpi"coqwpv"fqgu"pqv"gzeggf"vjg"ectt{kpi"coqwpv"vjcv"yqwnf"jcxg"dggp"fgvgtokpgf"pgv"qh"fgrtgekcvkqp"qt"coqtvkucvkqp."kh"pq"korcktogpv"nquu"jcf"dggp"tgeqipkugf0"
"
j0 Tgxgpwg"tgeqipkvkqp"
"
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k0 Hqtgkip"gzejcpig"vtcpucevkqpu"
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l0 Ngcugu"
"Hkpcpeg"ngcug""Cuugvu"ngcugf"d{"vjg"Eqorcp{"kp"kvu"ecrcekv{"cu"nguugg"yjgtg"uwduvcpvkcnn{"cnn"vjg"tkumu"cpf"tgyctfu"qh"qypgtujkr"xguv"kp"vjg"Eqorcp{"ctg"encuukhkgf"cu"hkpcpeg"ngcugu0"Uwej"ngcugu"ctg"ecrkvcnkugf"cv"vjg"kpegrvkqp"qh"vjg"ngcug"cv"vjg"nqygt"qh" vjg" hckt"xcnwg"cpf" vjg"rtgugpv"xcnwg"qh" vjg"okpkowo" ngcug"rc{ogpvu"cpf"c" nkcdknkv{" ku"etgcvgf" hqt"cp"gswkxcngpv"coqwpv0"Ngcug"rc{ogpv"ku"cnnqecvgf"dgvyggp"vjg"nkcdknkv{"cpf"hkpcpeg"ejctigu"uq"cu"vq"qdvckp"c"eqpuvcpv"rgtkqfke"tcvg"qh"kpvgtguv"qp"vjg"qwvuvcpfkpi"nkcdknkv{"hqt"gcej"{gct0""Qrgtcvkpi"ngcug""
""
4:4""
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m0 Gornq{gg"uvqem"qrvkqp"uejgogu"
"Vjg"gzeguu"qh"vjg"octmgv"rtkeg"qh"ujctgu."cv"vjg"fcvg"qh"itcpv"qh"qrvkqpu"wpfgt"vjg"Gornq{gg"Uvqem"Qrvkqp"Uejgogu"qh"vjg"Eqorcp{."qxgt"vjg"gzgtekug"rtkeg"ku"tgictfgf"cu"gornq{gg"eqorgpucvkqp."cpf"tgeqipkugf"qp"c"uvtckijv/nkpg"dcuku"qxgt"vjg"rgtkqf"qxgt"yjkej"vjg"gornq{ggu"yqwnf"dgeqog"wpeqpfkvkqpcnn{"gpvkvngf"vq"crrn{"hqt"vjg"ujctgu0"Vjg"equv"tgeqipkugf"cv"cp{"fcvg"cv"ngcuv"gswcnu"vjg"kpvtkpuke"xcnwg"qh"vjg"xguvgf"rqtvkqp"qh"vjg"qrvkqp"cv"vjcv"fcvg0"Cflwuvogpv."kh"cp{."hqt"fkhhgtgpeg"kp"kpkvkcn"guvkocvg"hqt"pwodgt"qh"qrvkqpu"vjcv"ctg"gzrgevgf"vq"wnvkocvgn{"xguv"cpf"tgncvgf"cevwcn"gzrgtkgpeg"ycu"tgeqipkugf"kp"vjg"Uvcvgogpv"qh"Rtqhkv"cpf"Nquu"qh"vjcv"rgtkqf0"Kp"tgurgev"qh"xguvgf"qrvkqpu"gzrktg"wpgzgtekugf."vjg"equv"ycu"tgxgtugf"kp"vjg"Uvcvgogpv"qh"Rtqhkv"cpf"Nquu"qh"vjcv"rgtkqf0""
Tguwnvu"qh"Qrgtcvkqpu""
"
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Rctvkewnctu"
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""
4:5""
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""Vjg"hqnnqykpi"vcdng"ugvu"hqtvj"egtvckp"kphqtocvkqp"ykvj"tgurgev"vq"qwt"gctpkpiu"dghqtg"kpvgtguv."vczgu."fgrtgekcvkqp"cpf"coqtvk|cvkqp"gzrgpugu"*GDKVFC+"hqt"vjg"rgtkqfu"kpfkecvgf<""
""
""
""
Rctvkewnctu"
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Tgxgpwg""
"
Qwt"vqvcn"tgxgpwg"eqpukuvu"qh"tgxgpwg"htqo"qrgtcvkqpu"cpf"qvjgt"kpeqog0""
Tgxgpwg"htqo"Qrgtcvkqpu"""Tgxgpwg"htqo"qrgtcvkqpu"eqortkugu"tgxgpwgu"htqo" vjg"ucng"qh"rtqfwevu."eqpukuvkpi"qh"ucng"qh"qwt"ocpwhcevwtgf"cpf"vtcfgf"rtqfwevu."cpf"qvjgt"qrgtcvkpi"kpeqog."kpenwfkpi"lqkpv"xgpvwtg"hggu."hqtgkip"gzejcpig"hnwevwcvkqp"ickp."rtqxkukqp"hqt"nquu"qh"octikp"qp"ucngu"tgvwtp"ytkvvgp"dcem"cpf"eqookuukqp"kpeqog"cpf"kpeqog"fgtkxgf"qp"ceeqwpv"qh"hqtgkip"gzejcpig"hnwevwcvkqpu0""""Qvjgt"Kpeqog""Vjg"mg{"eqorqpgpvu"qh"qwt"qvjgt" kpeqog"ctg" kpvgtguv" kpeqog"htqo" tgewttkpi" kpeqog"uwej"cu" kpvgtguv"qp" hkzgf"fgrqukvu"ykvj"dcpmu"cpf"pqp/tgewttkpi"kpeqog"uwej"cu"gzrqtv"kpegpvkxgu"cpf"qvjgt"okuegnncpgqwu"kpeqog0"""Qwt"Gzrgpfkvwtg""
"Qwt"gzrgpfkvwtg"rtkoctkn{"eqpukuvu"qh"vjg"hqnnqykpi<""
"Equv"qh"Ocvgtkcnu"Eqpuwogf<"Equv"qh"ocvgtkcnu"eqpuwogf"eqpukuvu"rtkoctkn{"qh"rwtejcug"qh"hcdtkeu"hqt"qwt"Qypgf"Dtcpfu"cpf"qvjgt"eqpuwocdngu."uwej"cu"gncuvkeu."vjtgcf."ncdgnu"cpf"dqyu0""Rwtejcug" qh" Vtcfgf" Iqqfu<" Gzrgpfkvwtg" kp" tgncvkqp" vq"rwtejcug" qh" uvqem" kp" vtcfg" tghgtu" vq" hkpkujgf"rtqfwevu"rwtejcugf"d{"wu"htqo"vjktf"rctv{"ocpwhcevwtgtu."cu"ygnn"cu"vjg"dtcpf"qypgtu"qh"vjg"Kpvgtpcvkqpcn"Dtcpfu0"Vjku"kpenwfgu"ceeguuqtkgu."nkpigtkg."hqqvygct"cpf"qvjgt"ictogpvu0""Ejcpigu"kp"kpxgpvqtkgu"qh"hkpkujgf"iqqfu"cpf"vtcfgf"iqqfu<"Qwt"ejcpigu"kp"kpxgpvqtkgu"qh"hkpkujgf"iqqfu"cpf"vtcfgf" iqqfu." kpenwfg" *k+" ejcpigu" kp" vjg" qrgpkpi" uvqem" cpf" enqukpi" uvqem" qh" qwt" hkpkujgf" iqqfu." yjkej" yg"ocpwhcevwtg"vjtqwij"eqpvtcev"ocpwhcevwtgtu="cpf"*kk+"ejcpigu"kp"vjg"qrgpkpi"uvqem"cpf"enqukpi"uvqem"qh"qwt"vtcfgf"iqqfu."yjkej"yg"rwtejcug"htqo"vjktf"rctvkgu0"
"Gornq{gg"Dgpghkv"Gzrgpug<"Qwt"gornq{gg"dgpghkvu"gzrgpug"kpenwfgu"ucnctkgu."ycigu"cpf"dqpwu"vq"qwt"gornq{ggu."eqpvtkdwvkqpu"vq"rtqxkfgpv"hwpf"cpf"qvjgt"hwpfu"cpf"gornq{gg"uvqem"qrvkqp"uejgog"gzrgpugu0""
"Hkpcpeg"Equvu<"Hkpcpeg"equvu"eqpukuv"rtkoctkn{"qh"kpvgtguv"gzrgpugu."cpf"qvjgt"dqttqykpi"equvu0""
"Fgrtgekcvkqp" cpf" coqtvk|cvkqp" gzrgpug<" Fgrtgekcvkqp" gzrgpug" eqpukuvu" rtkoctkn{" qh" fgrtgekcvkqp" gzrgpugu"tgeqtfgf"qp"xctkqwu"hkzgf"cuugvu."kpenwfkpi"hcevqt{"gswkrogpv."qhhkeg"gswkrogpv."eqorwvgtu."xgjkengu"cpf"hwtpkvwtg"cpf" hkzvwtgu0" Coqtvk|cvkqp" gzrgpug"eqpukuvu"rtkoctkn{"qh" coqtvk|cvkqp" tgeqtfgf"qp" kpvcpikdng" cuugvu" kpenwfkpi"uqhvyctg"cpf"iqqfyknn0"
"Qvjgt"gzrgpugu<"Qwt"qvjgt"gzrgpugu"kpenwfg."coqpi"qvjgtu."tgpv"rckf"kp"tgurgev"qh"qwt"ngcugf"rtgokugu."htgkijv"cpf"qevtqk"ejctigu."tgrcktu"cpf"ockpvgpcpeg."dwukpguu"rtqoqvkqp"cpf"cfxcpegu"ytkvvgp"qhh0""
""
4:6""
Hkuecn"4238"eqorctgf"ykvj"Hkuecn"4237""
"Qwt"total revenue increased by 3.21% to ₹ 4,402.33 million in Fiscal 2016 from ₹ 4,265.52 million in Fiscal 2015, rtkoctkn{"fwg"vq"cp"kpetgcug"kp"tgxgpwg"htqo"ucng"qh"rtqfwevu"vtcfgf."yjkej"ycu"rctvkcnn{"qhhugv"d{"vjg"fgetgcug"kp"tgxgpwg"igpgtcvgf"htqo"ucng"qh"rtqfwevu"ocpwhcevwtgf"d{"qwt"Eqorcp{0"""Kpeqog"htqo"Qrgtcvkqpu""Tgxgpwg"htqo"Ucng"qh"Rtqfwevu""Qwt" tgxgpwg" htqo" ucng"qh"rtqfwevu" kpetgcugf"d{"6023'" vq" ₹"6.543084"oknnkqp" kp"Hkuecn" 4238" htqo"₹"6.377036"oknnkqp" kp" Hkuecn" 42370" Vjku" kpetgcug" ycu"rtkoctkn{" ftkxgp"d{" vjg" kpetgcug" kp" ucng" qh"rtqfwevu" vtcfgf"d{" qwt"Eqorcp{."yjkej"ycu"rctvkcnn{"qhhugv"d{"vjg"fgetgcug"kp"tgxgpwg"igpgtcvgf"htqo"ucng"qh"rtqfwevu"ocpwhcevwtgf"d{"qwt"Eqorcp{0""
c0 Ucng"qh"Rtqfwevu"Ocpwhcevwtgf"d{"qwt"Eqorcp{""Qwt"tgxgpwg"htqo"vjg"ucngu"qh"ocpwhcevwtgf"iqqfu"fgetgcugf"d{"32054'"vq"₹"88;03;"oknnkqp"kp"Hkuecn"4238"htqo"₹"968044"oknnkqp"kp"Hkuecn"42370"Vjku"fgetgcug"ycu"rtkoctkn{"fwg"vq"vjg"ujkhv"htqo"ocpwhcevwtkpi"vq"vtcfkpi"hqt"certain products of our Owned Brands, the closure of the ‘Vkg"Tcem’ business and the discontinuance of saleu"qh"qpg"qh"qwt"Qypgf"Dtcpfu"kp"qpg"qh"vjg"nctig"hqtocv"tgvckn"uvqtgu0"Vjku"fgetgcug"ycu"rctvkcnn{"qhhugv"d{"vjg"qrgpkpi"qh"vyq"pgy"GDQ"kp"tgncvkqp"vq"vjg"Qypgf"Dtcpfu0"" "
d0 Ucng"qh"Rtqfwevu"Vtcfgf"d{"qwt"Eqorcp{""Qwt" tgxgpwg" htqo" vjg" ucngu"qh" vtcfgf"iqqfu" kpetgcugf"d{"9037'" vq" ₹"5.87408:"oknnkqp" kp" Hkuecn" 4238" htqo" ₹"5.62:0;4"oknnkqp"kp"Hkuecn"42370"Vjku"kpetgcug"ycu"rtkoctkn{"fwg"vq"cp"kpetgcug"kp"tgxgpwg"htqo"ucng"qh"rtqfwevu"qh"vjg"Qypgf"Dtcpfu"yjkej"kpetgcugf"d{"4:0;:'"vq"₹"472.74 million in Fiscal 2016 from ₹ 366.53 million"kp"hkuecn"4237"fwg"vq"vjg"ujkhv"htqo"ocpwhcevwtkpi"vq"vtcfkpi"qh"egtvckp"rtqfwevu"qh"qwt"Qypgf"Dtcpfu."cu"ygnn"cu"cp"increase in same store sales. Further, the revenue from the International Brands’ products increased to ₹ 5.39;0;6"oknnkqp"kp"Hkuecn"4238"htqo"₹"5.26405;"million in Fiscal 2015, due to the addition of two new brands, ‘I"Uvct"Tcy’ and ‘Jwiq"Dquu’ in the last quarter of Fiscal 2016 in our portfolio of International Brands coupled with the enquwtg"qh"ukz"GDQu"kp"Hkuecn"4238."kp"nkpg"ykvj"qwt"uvtcvgi{"qp"qrvkok|kpi"qwt"GDQ"nqecvkqpu0"""Qvjgt"Qrgtcvkpi"Tgxgpwg""Qwt"qvjgt"qrgtcvkpi"kpeqog"octikpcnn{"fgetgcugf"d{"70:3'"vq"₹ 6;033"oknnkqp"kp"Hkuecn"4238"htqo"₹"74036"oknnkqp"kp"Hkuecn"42370"" "Qvjgt"Kpeqog""Qwt"qvjgt"kpeqog"fgetgcugf"d{"67096'"vq"₹ 53082"oknnkqp"kp"Hkuecn"2016 from ₹ 58.24 million in Hkuecn"4237"fwg"vq"fgetgcug"qh"cxgtcig"fgrqukv"kp"Hkuecn"4238"d{"62022'"kp"eqorctkuqp"vq"Hkuecn"42370"Vjg"hwpfu"ygtg"wvknkugf"hqt"kpxguvogpv"kp"uwdukfkct{"cpf"tgrc{ogpv"qh"fgdv0""""Gzrgpugu"Dghqtg"Gzegrvkqpcn"Kvgou""
Qwt" gzrgpugu" coqwpvgf" vq" ₹ 6.463098" oknnkqp" kp" Hkuecn" 4238." tghngevkpi" c" 20:9'" fgetgcug" qxgt" qwt" vqvcn"gzrgpfkvwtg"qh"₹ 6.49:0:8"oknnkqp" kp"Hkuecn"42370"Vjku"fgetgcug" kp" vqvcn"gzrgpfkvwtg"ycu"rtkoctkn{"fwg" vq" vjg"tgfwevkqp"qh"equv"qh"rtqfwevu"uqnf"cnqpi"ykvj"c"tgfwevkqp"qh"vjg"fgrtgekcvkqp"cpf"coqtvk|cvkqp"cpf"hkpcpeg"equvu"kp"Hkuecn"4238."yjkej"ycu"rctvkcnn{"qhhugv"d{"cp"kpetgcug"gornq{gg"equvu0" "
Equv"qh"Ocvgtkcnu"Eqpuwogf"""Vjg"equv"qh"ocvgtkcnu"eqpuwogf"coqwpvgf"vq"₹ 184.;5"oknnkqp"kp"Hkuecn"4238."tghngevkpi"c"4092'"kpetgcug"qxgt"our materials consumed expense of ₹ 180.08"oknnkqp"kp"Hkuecn"4237."fwg"vq"cp"kphncvkqpct{"kpetgcug"kp"vjg"equv"qh"tcy"ocvgtkcnu" cpf" qvjgt"eqpuwocdngu0" Cu" c"rgtegpvcig" qh" qwt" tgxgpwg" htqo" qrgtcvkqpu." qwt"equv" qh"ocvgtkcnu"eqpuwogf"fgetgcugf"htqo"6055'"kp"Hkuecn"4237"vq"604:'"kp"Hkuecn"42380"
""
4:7""
"Rwtejcug"qh"Vtcfgf"Iqqfu""Our expenses on the purchase of traded goods totaled ₹1,882.16 million in Hkuecn" 4238." tghngevkpi" c" 3806:'"kpetgcug"qxgt"rwtejcug"qh" vtcfgf"iqqfu"gzrgpugs of ₹ 1,615.:9"oknnkqp" kp"Hkuecn"4237."yjkej"ycu"rtkpekrcnn{"attributable to an increase in purchase of products for the International Brands as a result of the addition of the ‘I"Uvct"Tcy’ and ‘Jwiq"Dquu’ brands and the opening of new EBOs for certain Invgtpcvkqpcn"Dtcpfu."kpenwfkpi"vjg"‘Ctocpk"Lgcpu’ and ‘Lkoo{"Ejqq’ brands in Hkuecn"4238"cpf"cp" kpetgcug" kp" vjg"rwtejcug"qh" Dy#vej"rtqfwevu."yjkej"ycu"fwg"vq"vjg"ujkhv"htqo"ocpwhcevwtg"vq"rwtejcug"qh"egtvckp"hkpkujgf"Dy#vej"rtqfwevu"kp"Hkuecn"42380"Cu"c"rgtegpvcig"qh"qwt"tgxgpwg"htqo"qrgtcvkqpu."gzrgpugu"qp"rwtejcug"qh"vtcfgf"iqqfu"kpetgcugf"htqo"5:0:;'"kp"Hkuecn"4237"vq"65077'"kp"Hkuecn"42380"""Ejcpigu"kp"Kpxgpvqtkgu"qh"Hkpkujgf"Iqqfu"cpf"Vtcfgf"Iqqfu""Qwt"ejcpigu"kp"kpxgpvqtkgu"qh"hkpkujgf"iqqfu"cpf"vtcfgf"goods increased from ₹"36406:"oknnkqp"kp"Hkuecn"4237"vq"₹ (14;077+"kp"Hkuecn"4238."tghngevkpi"c"4260;8'"kpetgcug"fwg"vq"cffkvkqpcn"rwtejcug"qh" kpxgpvqt{"kp"vjg"nwzwt{"dwukpguu."qp"ceeqwpv"qh"vyq"pgy"dtcpfu."Xknngtq{"("Dqej"cpf"Okejcgn"Mqtu."cpf"cffkvkqpcn"kpxgpvqt{"hqt"vjg"pgy"GDQu"hqt"Gorqtkq"Ctocpk"cpf"Ctocpk"Lgcpu"dtcpfu0 "Gornq{gg"Dgpghkv"Gzrgpugu""Qwt"gornq{gg"dgpghkvu"gzrgpugu"coqwpvkpi"vq"₹"76:053"oknnkqp"kp"Hkuecn"4238."tghngevgf"cp":068'"kpetgcug"qxgt"qwt"gornq{gg"dgpghkvu"gzrgpugu"qh"₹ 727074"oknnkqp"kp"Hkuecn"4237."yjkej"ycu"rtkpekrcnn{"cvvtkdwvcdng"vq"cppwcn"kpetgogpvu0" Cu" c" rgtegpvcig" qh" qwt" tgxgpwg" htqo" qrgtcvkqpu." qwt" gornq{gg" dgpghkvu" gzrgpug" kpetgcugf" htqo"34039'"kp"Hkuecn"4237"vq"3408;'"kp"Hkuecn"42380 "Hkpcpeg"Equvu""Qwt"hkpcpeg"gzrgpugu"coqwpvgf"vq"₹ 33808;"oknnkqp"kp"Hkuecn"4238."tghngevkpi"c"80;5'"fgetgcug"qxgt"qwt"hkpcpeg"gzrgpugu"qh"₹"34705:"oknnkqp"kp"Hkuecn"4237."yjkej"ycu"cvvtkdwvcdng"rtkoctkn{"vq"nqygt"equv"qh"dqttqykpiu"cpf"nqygt"cxgtcig"wvknk|cvkqp"qh"yqtmkpi"ecrkvcn"nkokvu0"Cu"c"rgtegpvcig"qh"qwt"tgxgpwg"htqo"qrgtcvkqpu."qwt"hkpcpeg"gzrgpugu"fgetgcugf"htqo"5024'"kp"Hkuecn"4237"vq"4092'"kp"Hkuecn"42380 "Fgrtgekcvkqp"cpf"Coqtvk|cvkqpu"Gzrgpugu""Qwt"fgrtgekcvkqp"cpf"coqtvk|cvkqp"gzrgpug"fgetgcugf"vq"₹ 3830;4"oknnkqp"kp"Hkuecn"4238"htqo"₹ 427036"oknnkqp"kp"Hkuecn"4237."tghngevgf"c"fgetgcug"qh"43029'."yjkej"ycu"rtkoctkn{"fwg"vq"vjg"ejcpig"kp"vjg"guvkocvgf"wughwn"nkhg"qh"hkzgf"cuugvu"rwtuwcpv"vq"vjg"ghhgevkxgpguu"qh"vjg"Eqorcpkgu"Cev."4235"coqwpvkpi"vo ₹ 70.98 million. Depreciation ycu"qp"ceeqwpv"qh"cffkvkqp"qh"pgy"GDQu"cpf"tgpqxcvkqp"qh"gzkuvkpi"GDQu0""Qvjgt"Gzrgpugu""Qwt"qvjgt"gzrgpugu"coqwpvgf"vq"₹"3.6;9052"oknnkqp"kp"Hkuecn"4238."tghngevkpi"c"octikpcn"fgetgcug"qh"2069'"qxgt"qvjgt"gzrgpugu"qh"₹ 3.726063"oknnkqp"kp"Hkuecn"42370"Vjku"kpenwfgf."coqpi"qvjgtu."tgpvcn"gzrgpugu"of ₹ 596.77 oknnkqp"kp"Hkuecn"4238."tghngevkpi"cp"kpetgcug"qh"50;4% over rental expenses of ₹ 596046"oknnkqp"kp"Hkuecn"4237"cu"c"tguwnv"qh"vjg"qrgpkpi"qh"vyq"pgy"GDQu"cpf"qp"ceeqwpv"qh"tgpv"guecncvkqp"qp"tgpgycn"qh"ngcug"citggogpvu"hqt"vjg"GDQu." cfxgtvkugogpv" gzrgpugu" qh" ₹" 78074" oknnkqp" kp" Hkuecn" 4238." tghngevgf" c" fgetgcug" qh" 59066'" qxgt"cfxgtvkugogpv"gzrgpugu"qh"₹";2057"oknnkqp"kp"Hkuecn"4237"fwg"vq"kpetgcug"kp"octmgvkpi"eqpvtkdwvkqp"htqo"dtcpfu."cpf"htgkijv"cpf"qevtqk"ejctigu"qh"₹":;03:"oknnkqp"kp"Hkuecn"4238."tghngevgf"cp"kpetgcug"qh"38048'"qxgt"htgkijv"cpf"qevtqk"ejctigu"qh"₹ 98093"oknnkqp"kp"Hkuecn"4237"fwg"vq"cffkvkqpcn"oqxgogpv"qh"kpxgpvqt{"htqo"yctgjqwugu"vq"vjg"GDQu"fwg"vq"qrgpkpi"cpf"enquwtg"qh"GDQu0"Cu"c"rgtegpvcig"qh"qwt"tgxgpwg"htqo"qrgtcvkqp."qwt"qvjgt"gzrgpugu"fgetgcugf"htqo"58043'"kp"Hkuecn"4237"vq"56087'"kp"Hkuecn"42380""Rtqhkv1*Nquu+"Dghqtg"Vcz"cpf"Gzegrvkqpcn"Kvgou."cu"Tguvcvgf""Cu"c"tguwnv"qh"vjg"hcevqtu"qwvnkpgf"cdqxg."qwt"tguvcvgf"rtqhkv"dghqtg"vcz"kpetgcugf"vq"₹ 382079"oknnkqp"kp"Hkuecn"4238"htqo"c"nquu"qh"₹ 35056"oknnkqp"kp"Hkuecn"42370"" "Gzegrvkqpcn"Kvgou"""
""
4:8""
Yg"fkf"pqv"jcxg"cp{"gzegrvkqpcn"kvgou"kp"Hkuecn"42380"Kp"Hkuecn"4237."yg"tgeqtfgf"c"ickp"qh"₹ 3803:"oknnkqp"kp"vjg"hqto"qh"c"vgtokpcvkqp"hgg"rwtuwcpv"vq"vjg"vgtokpcvkqp"qh"c"rtqrqugf"lqkpv"xgpvwtgu0"""Vcz"Gzrgpug"*kpenwfkpi"fghgttgf"vcz"gzrgpugu+""Qwt"vqvcn"vcz"gzrgpug"kp"Hkuecn"4238"ycu"₹ ;2029"oknnkqp."c"53075'"kpetgcug"qxgt"qwt"vqvcn"vcz"gzrgpug"qh"₹ 8:06:"oknnkqp"kp"Hkuecn"4237."yjkej"ycu"rtkoctkn{"fwg"vq"kpetgcug"kp"rtqhkvu"qh"vjg"Uwdukfkctkgu"cpf"lqkpv"xgpvwtgu"ukpeg"vjg"rtgegfkpi"{gct0""Rtqhkv1*Nquu+"Chvgt"Vcz"cpf"Dghqtg"Okpqtkv{"Kpvgtguv."cu"Tguvcvgf""Cu"c"tguwnv"qh"vjg"hcevqtu"qwvnkpgf"cdqxg."qwt"tguvcvgf"rtqhkv"chvgt"vcz"kpetgcugf"d{"429062'"vq"₹ 92072"oknnkqp"kp"Hkuecn"4238"htqo"c"nquu"qh"₹ 87086"oknnkqp"kp"Hkuecn"42370 Pgv"Nquu"hqt"vjg"[gct"Cvvtkdwvcdng"vq"vjg"Gswkv{"Ujctgjqnfgtu."cu"Tguvcvgf""
Qwt"restated loss after tax adjusted for minority interest was ₹ 7.46 million in Fiscal 2016 and ₹ 108.5:"oknnkqp"kp"Hkuecn"42370""Hkuecn"4237"Eqorctgf"ykvj"Hkuecn"4236"
"
Qwt" total revenue increased by 16.29% to ₹ 4,265.52 million in Fiscal 2015 from ₹ 3,667.87 million in Fiscal 4236."rtkoctkn{"fwg"vq"cp"kpetgcug"kp"qwt"tgxgpwg"htqo"vjg"ucng"qh"vtcfgf"iqqfu0"""Kpeqog"htqo"Qrgtcvkqpu""Tgxgpwg"htqo"Ucng"qh"Rtqfwevu""Qwt"tgxgpwg" htqo"ucng"qh"rtqfwevu"kpetgcugf"d{"3706;'"vq"₹"6.377036"oknnkqp"kp"Hkuecn"4237"htqo"₹"5.7;9099"oknnkqp"kp"Hkuecn"42360"Vjku"ycu"rtkoctkn{"ftkxgp"d{"cp"kpetgcug"kp"vjg"ucng"qh"vtcfgf"rtqfwevu"cpf"qvjgt"qrgtcvkpi"tgxgpwg0"""
c0 Ucng"qh"Ocpwhcevwtgf"Rtqfwevu""Qwt"tgxgpwg"htqo"vjg"ucngu"qh"ocpwhcevwtgf"iqqfu"fgetgcugf"d{"3063'"vq"₹ 968044"oknnkqp"kp"Hkuecn"4237"htqo"₹ 9780;4"oknnkqp"kp"Hkuecn"42360"Vjku"fgetgcug"ycu"fwg"vq"vjg"enquwtg"qh"hkxg"GDQu"ugnnkpi"rtqfwevu"qh"vjg"Qypgf"Dtcpfu"kp"Hkuecn"4237"yjkej"ycu"rctvkcnn{"qhhugv"d{"vjg"qrgpkpi"qh"qpg"pgy"GDQ"ugnnkpi"rtqfwevu"qh"vjg"Qypgf"Dtcpfu0""
d0 Ucng"qh"Vtcfgf"Rtqfwevu""Qwt"tgxgpwg" htqo" vjg"ucngu"qh" vtcfgf"iqqfu"kpetgcugf"d{"42022'"vq"₹"5.62:0;4"oknnkqp"kp"Hkuecn"4237"htqo"₹ 4.:620:7"oknnkqp"kp"Hkuecn"42360"Vjku"kpetgcug"ycu"rtkoctkn{"fwg"vq"cp"kpetgcug"kp"tgxgpwg"htqo"ucng"qh"rtqfwevu"htqo"Kpvgtpcvkqpcn"Dtcpfu."yjkej"kpetgcugf"d{"₹"7:7067"oknnkqp"kp"Hkuecn"4237."fwg"vq"vjg"qrgpkpi"qh"34"pgy"GDQu"kp"c"new luxury mall in Kolkata and three new EBOs for ‘Okejcgn"Mqtu’ across various locations in India. Vjku"ycu"cnuq"gpjcpegf"d{"cp"kortqxgogpv"kp"vjg"ucog/uvqtg/ucngu"hqt"vjg"Kpvgtpcvkqpcn"Dtcpfu."yjkej"kpetgcugf"d{":025'"kp"Hkuecn"42370"Vjg"kpetgcug"kp"vjg"tgxgpwg"qh"vtcfgf"rtqfwevu"ycu"korcevgf"d{"vjg"vgtokpcvkqp"qh"vjtgg"kpvgtpcvkqpcn"dtcpfu0"""Qvjgt"Qrgtcvkpi"Tgxgpwg""Qwt"qvjgt"qrgtcvkpi"tgxgpwg"kpetgcugf"d{"373038'"vq"₹"74036"oknnkqp"kp"Hkuecn"4237"htqo"₹"42098"oknnkqp"kp"Hkuecn"4236."rtkoctkn{"qp"ceeqwpv"qh"hgg"tgegkxgf"htqo"qpg"qh"qwt"Lqkpv"Xgpvwtgu0"""Qvjgt"Kpeqog""Qwt"tgxgpwg"htqo"qvjgt"kpeqog"kpetgcugf"d{"3:026'"vq"₹ 7:046"oknnkqp"kp"Hkuecn"4237"htqo"₹ 6;056"oknnkqp"kp"Hkuecn"42360"Vjku"fgetgcug"ycu"ftkxgp"rtkoctkn{"d{"cp"kpetgcug"qp"ceeqwpv"qh"jkijgt"kpvgtguv"htqo"vgto"fgrqukvu"qp"ceeqwpv"qh"jkijgt"cxgtcig"fgrqukvu"ykvj"dcpmu"kp"Hkuecn"42370""
""
4:9""
Gzrgpugu"Dghqtg"Gzegrvkqpcn"Kvgou""
Qwt" gzrgpugu" coqwpvgf" vq" ₹" 6.49:0:8"oknnkqp" kp" Hkuecn" 4237." tghngevkpi" c" 36034'" kpetgcug" qxgt" qwt" vqvcn"gzrgpfkvwtg"qh"₹ 5.96;054"oknnkqp"kp"Hkuecn"42360"Vjku"kpetgcug"kp"vqvcn"gzrgpfkvwtg"ycu"rtkoctkn{"fwg"vq"kpetgcugu"kp"gornq{gg"dgpghkv"gzrgpugu"cpf"cp"kpetgcug"kp"qwt"fgrtgekcvkqp"cpf"coqtvk|cvkqp"gzrgpugu."yjkej"ycu"rctvkcnn{"qhhugv"d{"vjg"fgetgcug"kp"vjg"equv"qh"ocvgtkcnu"eqpuwogf"cpf"rwtejcug"qh"vtcfgf"rtqfwevu0"" "Equv"qh"Ocvgtkcnu"Eqpuwogf"""Vjg"equv"qh"ocvgtkcnu"eqpuwogf"coqwpvgf"vq"₹ 3:2028"oknnkqp"kp"Hkuecn"4237."tghngevkpi"c"56058'"fgetgcug"qxgt"qwt"ocvgtkcnu"eqpuwogf" gzrgpug" qh" ₹ 496053"oknnkqp" kp" Hkuecn" 4236." kp" nkpg" ykvj" c" fgetgcug" kp"rtqfwevkqp"qh"ocpwhcevwtgf"rtqfwevu0"Cu"c"rgtegpvcig"qh"qwt"tgxgpwg"htqo"qrgtcvkqpu."qwt"equv"qh"ocvgtkcnu"eqpuwogf"fgetgcugf"htqo"9084'"kp"Hkuecn"4236"vq"6055'"kp"Hkuecn"42370 "Rwtejcug"qh"Vtcfgf"Rtqfwevu""Our expenses on the purchase of traded goods totaled ₹ 1,615.89"oknnkqp" kp" Hkuecn" 4237." tghngevkpi" c" 6044'"decrease over purchase of traded goods expenses of ₹ 1,687.05 million in Hkuecn"4236."yjkej"ycu"rtkpekrcnn{"cvvtkdwvcdng"vq"vjg"tgfwevkqp"qh"rwtejcug"qh"vtcfgf"iqqfu"hqt"vjg"Qypgf"Dtcpfu"fwg"vq"vjg"nkswkfcvkqp"qh"kpxgpvqt{"cv"vjg"gpf"qh"Hkuecn"4236"cpf"vjg"enquwtg"qh"vjg"dwukpguu"qh"IND"Dqf{ectg"Rtkxcvg"Nkokvgf0"Cu"c"rgtegpvcig"qh"qwt"tgxgpwg"htqo"qrgtcvkqpu."gzrgpugu"qp"rwtejcug"qh"uvqem/kp/vtcfg"fgetgcugf"htqo"680:;'"kp"Hkuecn"4236"vq"5:0:;'"kp"Hkuecn"42370"""Ejcpigu"kp"Kpxgpvqtkgu"qh"Hkpkujgf"Iqqfu"cpf"Vtcfgf"Iqqfu""Qwt"ejcpigu"kp"kpxgpvqtkgu"qh"hkpkujgf"iqqfu"cnd traded goods decreased by ₹ 467.92"oknnkqp"kp"Hkuecn"4237"htqo"₹ (325.44+"oknnkqp" kp" Hkuecn" 4236"rtkoctkn{"fwg" vq" cp" kpetgcug" kp" kpxgpvqt{" kp" Hkuecn" 4236." fwg" vq" cffkvkqpcn"inventory from the addition of two new brands, i.e., ‘Xknngtq{"("Dqej’"and ‘Okejcgn"Mqtu’ and the opening of 6 new EBOs for the ‘Gorqtkq"Ctocpk’ and ‘Ctocpk"Lgcpu’ brands." "Gornq{gg"Dgpghkv"Gzrgpugu""Qwt"gornq{gg"dgpghkvu"gzrgpugu"coqwpvgf"vq"₹ 727074"oknnkqp"kp"Hkuecn"4237."tghngevkpi"c"35096'"kpetgcug"qxgt"qwt"gornq{gg"dgpghkvu"gzrgpugu"qh"₹ 666067"oknnkqp"kp"Hkuecn"4236."yjkej"ycu"rtkpekrcnn{"cvvtkdwvcdng"vq"cppwcn"kpetgogpvu"cpf"kpetgcug"kp"vjg"pwodgt"qh"gornq{ggu"qp"ceeqwpv"qh"vjg"qrgpkpi"qh"pgy"GDQu"hqt"vjg"Kpvgtpcvkqpcn"Dtcpfu"cpf"vjg"cffkvkqp"qh"vyq"pgy"Kpvgtpcvkqpcn"Dtcpfu"vq"qwt"rqtvhqnkq0"Cu"c"rgtegpvcig"qh"qwt"tgxgpwg"htqo"qrgtcvkqpu."qwt"gornq{gg"dgpghkvu"gzrgpug"fgetgcugf"htqo"34057'"kp"Hkuecn"4236"vq"34039'"kp"Hkuecn"42370 "Hkpcpeg"Equvu""Qwt"hkpcpeg"gzrgpugu"coqwpvgf"vq"₹ 34705:"oknnkqp"kp"Hkuecn"4237."tghngevkpi"c"7053'"kpetgcug"qxgt"qwt"hkpcpeg"gzrgpugu"qh"₹ 33;028"oknnkqp"kp"Hkuecn"4236."yjkej"ycu"cvvtkdwvcdng"rtkoctkn{"vq"kpetgcug"kp"cxgtcig"wvknk|cvkqp"qh"yqtmkpi"ecrkvcn"nkokvu"kp"Hkuecn"4237"vq"hwpf"gzrcpukqp"qh"vjg"kpvgtpcvkqpcn"dtcpf"dwukpguu0"Cu"c"rgtegpvcig"qh"qwt"tgxgpwg"htqo"qrgtcvkqpu."qwt"hkpcpeg"gzrgpugu"octikpcnn{"fgetgcugf"htqo"5053'"kp"Hkuecn"4236"vq"5024'"kp"Hkuecn"42370 "Fgrtgekcvkqp"cpf"Coqtvk|cvkqpu"Gzrgpugu""Qwt"fgrtgekcvkqp"cpf"coqtvk|cvkqp"gzrgpug"kpetgcugf"vq"₹ 427036"oknnkqp"kp"Hkuecn"4237"htqo"₹ 366024"oknnkqp"kp"Hkuecn"4236."tghngevkpi"cp"kpetgcug"qh"64066'."yjkej"ycu"rtkoctkn{"fwg"vq"vjg"ejcpig"kp"guvkocvgf"wughwn"nkhg"qh"fixed assets pursuant to the effectiveness of the Companies Act, 2013 in Fiscal 2015 amounting to ₹ 70.98 million. ""Qvjgt"Gzrgpugu""
Qwt"qvjgt"gzrgpugu"coqwpvgf"vq"₹ 3.726063"oknnkqp"kp"Hkuecn"4237."tghngevkpi"c"9025'"kpetgcug"qxgt"qvjgt"gzrgpugu"qh"₹ 3.627087"oknnkqp"kp"Hkuecn"42360"Vjku"kpenwfgf."coqpiuv"qvjgtu."tgpvcn"gzrgpugu"qh"₹ 796046"oknnkqp"kp"Hkuecn"4237."yjkej"kpetgcugf"d{"80;2% over rental expenses of ₹ 759039"oknnkqp"kp"Hkuecn"4236"cu"c"tguwnv"qh"vjg"qrgpkpi"qh"34"pgy"GDQu."cfxgtvkugogpv"gzrgpugu"qh"₹";2057"oknnkqp"kp"Hkuecn"4237."tghngevkpi"c"fgetgcug"qh"40:9'"qxgt"cfxgtvkugogpv"gzrgpugu"qh"₹";5024"oknnkqp"kp"Hkuecn"4236"cpf"htgkijv"cpf"qevtqk"ejctigu"qh" ₹"98093"oknnkqp"kp"Hkuecn"4237."tghngevkpi"cp"kpetgcug"qh"450;3'"qxgt"htgkijv"cpf"qevtqk"ejctigu"qh"₹ 830;3"oknnkqp"kp"Hkuecn"4236"fwg"vq"cffkvkqpcn"oqxgogpv"qh"kpxgpvqt{"htqo"vjg"yctgjqwug"vq"vjg"GDQu"fwg"vq"vjg"qrgpkpi"cpf"enquwtg"qh"GDQu0"
""
4::""
Cu"c"rgtegpvcig"qh"qwt"tgxgpwg"htqo"qrgtcvkqpu."qwt"qvjgt"gzrgpugu"fgetgcugf"htqo"5;029'"kp"Hkuecn"4236"vq"58043'"kp"Hkuecn"42370 "Rtqhkv1*Nquu+"Dghqtg"Vcz"cpf"Gzegrvkqpcn"Kvgou."cu"Tguvcvgf""Cu"c"tguwnv"qh" vjg"hcevqtu"qwvnkpgf"cdqxg."qwt"tguvcvgf" nquu"dghqtg"vcz"fgetgcugf"vq"c"nquu"qh"₹ 35056"oknnkqp"kp"Hkuecn"4237"htqo"c"nquu"qh"₹ :3067"oknnkqp"kp"Hkuecn"42360"" "Gzegrvkqpcn"Kvgou"""Yg"tgeqtfgf"c"ickp"from of ₹ 3803:"oknnkqp" kp" vjg" hqto"qh"c" vgtokpcvkqp" hgg"rwtuwcpv" vq" vjg" vgtokpcvkqp"qh"c"rtqrqugf"lqkpv"xgpvwtg."c"358085'"kpetgcug"qxgt"c"nquu"qh"₹ 66039"oknnkqp"fwg"vq"vjg"vgtokpcvkqp"qh"qpg"qh"qwt"dtcpfu"kp"qwt"rqtvhqnkq"qh"Kpvgtpcvkqpcn"Dtcpfu"kp"Hkuecn"4236"cpf"vjg"enquwtg"qh"qwt"Ucoucctc"dwukpguu0"""Vcz"Gzrgpug"*kpenwfkpi"fghgttgf"vcz"gzrgpugu+""Qwt"vqvcn"vcz"gzrgpug"kp"Hkuecn"4237"was ₹ 8:06:"oknnkqp."c"45063% increase over our total tax expense of ₹ 7706;"oknnkqp"kp"Hkuecn"4236."yjkej"ycu"rtkoctkn{"fwg"vq"kpetgcug"kp"vczcdng"rtqhkvu"qh"vjg"Uwdukfkctkgu"cpf"Lqkpv"Xgpvwtgu"kp"Hkuecn"42370""Rtqhkv1*Nquu+"Chvgt"Vcz"cpf"Dghqtg"Okpqtkv{"Kpvgtguv."cu"Tguvcvgf"" "Cu"c"tguwnv"qh"vjg"hcevqtu"qwvnkpgf"cdqxg."qwt"tguvcvgf"nquu"chvgt"vcz"ycu"₹ 87086"oknnkqp"kp"Hkuecn"4237"htqo"c"nquu"qh"₹ 3:3033"oknnkqp"kp"Hkuecn"42360" Pgv"Nquu"hqt"vjg"[gct"Cvvtkdwvcdng"vq"vjg"Gswkv{"Ujctgjqnfgtu."cu"Tguvcvgf""
Qur restated loss after tax adjusted for minority interest was a loss of ₹ 32:05:"oknnkqp"kp"Hkuecn"4237."htqo"c"nquu"of ₹ 34808;"oknnkqp"kp"Hkuecn"42360" Nkswkfkv{"cpf"Ecrkvcn"Tguqwtegu"
"
Ecuj"Hnqyu"" Yg"jcxg"jkuvqtkecnn{"hwpfgf"qwt"yqtmkpi"ecrkvcn"tgswktgogpvu"cpf"ecrkvcn"gzrgpfkvwtg"tgswktgogpvu"rtkpekrcnn{"htqo"ecuj"hnqyu"htqo"qwt"tgxgpwg"htqo"qrgtcvkqpu."rtqeggfu"htqo"vjg"kuuwcpeg"qh"gswkv{"cpf"rtghgtgpeg"ujctgu"cpf" c" eqodkpcvkqp" qh" ujqtv" vgto" cpf" nqpi" vgto" fgdv0" Qwt"rtkoct{" nkswkfkv{" tgswktgogpvu" jcxg"dggp" vqyctfu"oggvkpi"qwt"yqtmkpi"ecrkvcn"tgswktgogpvu0""Vjg"hqnnqykpi"vcdng"ugvu"hqtvj"c"uwooct{"qh"qwt"ecuj"hnqyu"hqt"vjg"rgtkqfu"kpfkecvgf"dgnqy<""
(₹ in million)"Rctvkewnctu" Hkuecn"4238"" Hkuecn"4237" Hkuecn"4236"
Pgv"ecuj"1"*wugf"kp+"htqo"qrgtcvkpi"cevkxkvkgu" *6;02;+" 4:6039" *3:2023+"
Pgv"ecuj"1"*wugf"kp+"htqo"kpxguvkpi"cevkxkvkgu" *6704;+" *335045+" *5;036+"
Pgv"ecuj"1"*wugf"kp+"htqo"hkpcpekpi"cevkxkvkgu" 5809:" *;:0;3+" 555057"
Pgv"kpetgcug1"*fgetgcug+"kp"ecuj"cpf"ecuj"gswkxcngpvu" *79082+" 94025" 336042"
"Ecuj"Hnqy"htqo"Qrgtcvkpi"Cevkxkvkgu""
Pgv"cash used in operating activities was ₹ 49.09 million for Fiscal 2016. Our net profit before taxation was ₹ 382079"oknnkqp"hqt"Hkuecn"4238"cpf"yg"jcf"qrgtcvkpi"ecuj"hnqy"before working capital changes of ₹ 658079"oknnkqp0"This difference was primarily attributable to a ₹ 137.31 million increase in trade receivables, a ₹ 161.28 million increase in inventories and a ₹ 7103:"oknnkqp" kpetgcug" kp" nqcpu"cpf"cfxcpegu0"Vjku"ycu"rctvkcnn{" ugv"qhh"d{"cp"increase in trade payables of ₹ 50.83 million and an increase in other liabilities of ₹ 53.30 million.""Pgv"cash generated from operating activities was ₹ 284.17"oknnkqp"hqt"Hkuecn"42370"Qwt"pgv"rtqhkv"dghqtg"vczcvkqp"was ₹ 40:6"oknnkqp"hqt"Hkuecn"4237"cpf"yg"jcf"qrgtcvkpi"ecuj"hnqy"before working capital changes of ₹ 5340;5"oknnkqp0"Vjku"fkhhgtgpeg"ycu"rtkoctkn{"cvvtkdwvcdng"vq"cp"kpetgcug"qh"₹ 58047"oknnkqp"kp"vtcfg"tgegkxcdngu"cpf"cp"
""
4:;""
kpetgcug"qh"₹"69046"oknnkqp" kp"nqcpu"cpf"cfxcpegu0"This was partially set off by a decrease in inventories of ₹ 3650;:"oknnkqp0""Pgv"cash used from operating activities was ₹ 180.01 million for Fiscal 20140"Qwt"pgv"nquu"before taxation was ₹ 347084"oknnkqp" hqt"Hkuecn" 4236" cpf" yg"jcf"qrgtcvkpi"ecuj" hnqyu" before working capital changes of ₹ 3260;4"oknnkqp." yjkej" ycu" cflwuvgf" cu" c" tguwnv" qh" yqtmkpi" ecrkvcn" ejcpigu." eqpukuvkpi" rtkoctkn{" qh" cp" kpetgcug" kp"kpxgpvqtkgu"of ₹ 5470;7"oknnkqp"cpf"cp"kpetgcug"kp"loans and advances of ₹"79092"oknnkqp0"Vjku"ycu"rctvkcnn{"ugv"qhh"d{"cp"kpetgcug"kp"vtcfg"rc{cdngu"qh"₹ ;5075"oknnkqp0""Ecuj"Hnqy"htqo"Kpxguvkpi"Cevkxkvkgu"""
Pgv"ecuj"wugf"kp"kpxguvkpi"cevkxkvkgu"hqt"Hkuecn"4238"was ₹ 6704;"oknnkqp."rtkoctkn{"eqpukuvkpi"qh"kpxguvogpvu"hqt"vjg"ceswkukvkqp"qh"kpvgtguv"kp"uwdukfkctkgu"cpf"lqkpv"xgpvwtgu"of ₹ 545045"oknnkqp"cpf"rwtejcug"qh"hkzgf"cuugvu"of ₹ 342023"oknnkqp."yjkej"ycu"qhhugv"d{"vjg"tgfgorvkqp1ocvwtkv{"qh"dcpm"fgrqukvu"coqwpvkpi"vq"₹ 593042"oknnkqp0"""Pgv"ecuj"wugf"kp"kpxguvkpi"cevkxkvkgu"hqt"Hkuecn"2015 was ₹ 335045"oknnkqp."rtkoctkn{"eqpukuvkpi"qh"gzrgpfkvwtg"qp"rwtejcug" qh" hkzgf" cuugvu" of ₹ 3960::"oknnkqp." rctvkcnn{" qhhugv" d{" vjg" tgfgorvkqp1ocvwtkv{" qh" dcpm" fgrqukvu"coqwpvkpi"vq"₹ 88099"oknnkqp"cpf"vjg"kpvgtguv"on investments of ₹"66092"oknnkqp0"""Pgv"ecuj"wugf"kp"kpxguvkpi"cevkxkvkgu"hqt"Hkuecn"4236"was ₹ 5;036"oknnkqp."rtkoctkn{"eqpukuvkpi"qh"gzrgpfkvwtg"qp"rwtejcug"qh"hkzgf"cuugvu"of ₹ 566059"oknnkqp"cpf"kpxguvogpvu"kp"dcpm"fgrqukvu"of ₹ 334097"oknnkqp."rctvkcnn{"qhhugv"d{"vjg"tgfgorvkqp"qt"ocvwtkv{"qh"dcpm"fgrqukvu"coqwpvkpi"vq"₹ 45503:"oknnkqp0"""Ecuj"Hnqy"htqo"Hkpcpekpi"Cevkxkvkgu"""
Pgv"cash generated from financing activities for Fiscal 2016 was ₹ 36.78 million primarily consisting of proceeds htqo"ecuj"etgdit and working capital facilities of ₹ 172.40 million and proceeds of borrowings amounting to ₹ 55.17 million, which was offset in part by payment of finance costs of ₹ 117.97 million. ""Pgv"cash used in financing activities for Fiscal 2015 was ₹ 98.91 minnkqp"rtkoctkn{"eqpukuvkpi"qh"rc{ogpv" qh"finance costs of ₹ 116.96 million and repayment of borrowings of ₹ 78.44 million, which was offset in part by proceeds from cash credit and working capital facilities amounting to ₹ 61.07 million. ""
Pgv"ecuj"igpgtcved from financing activities for Fiscal 2014 was ₹ 333.35 million primarily consisting of issue of Equity Shares amounting to ₹ 365.77 oknnkqp"and proceeds from borrowings of ₹ 355.06 million, which were qhhugv"kp"rctv"d{"vjg"tgrc{ogpv"qh"dqttqykpiu"coqwpving to ₹ 271.49 million and payment of finance costs of ₹ 3370;;"oknnkqp0"""
Eqpvkpigpv"Nkcdknkvkgu""
"Cu"qp"Octej"53."4238."yg"jcf"pq"eqpvkpigpv"nkcdknkvkgu"pqv"rtqxkfgf"hqt"qwt"hkpcpekcn"kphqtocvkqp0"""
Swcpvkvcvkxg"cpf"swcnkvcvkxg"fkuenquwtg"cdqwv"octmgv"tkum""
Yg"ctg"gzrqugf"vq"xctkqwu"v{rgu"qh"octmgv"tkumu"kp"vjg"pqtocn"eqwtug"qh"qwt"dwukpguu0"Vjg"hqnnqykpi"fkuewuukqp"cpf"cpcn{uku."yjkej"eqpuvkvwvg"$hqtyctf/nqqmkpi"uvcvgogpvu$"uwooctk|gu"qwt"gzrquwtg"vq"xctkqwu"octmgv"tkumu0"
Hqtgkip"ewttgpe{"tkum""
Uqog"qh"qwt"tcy"ocvgtkcnu"kp"tgncvkqp"vq"qwt"Ucv{c"Rcwn"cpf"Dy#vej"rtqfwevu"cpf"rtqfwevu"hqt"vjg"Kpvgtpcvkqpcn"Dtcpfu"ctg" korqtvgf"htqo" uwrrnkgtu"cpf"dtcpf"qypgtu." tgurgevkxgn{."cpf"ceeqtfkpin{"yg"ctg" tgswktgf" vq"ocmg"rc{ogpvu"vq"uwej"uwrrnkgtu"cpf"dtcpf"qypgtu"kp"hqtgkip"ewttgpe{."kpenwfkpi."vjg"Gwtq."vjg"W0U0"Fqnnct"cpf"Dtkvkuj"Rqwpf"cpf"yg"oc{"dg"chhgevgf"d{"hnwevwcvkqpu"kp"vjg"ewttgpe{"gzejcpig"tcvg"dgvyggp"vjgug"ewttgpekgu"cpf"vjg"Kpfkcp"Twrgg0"Kp"Hkuecn"4237"cpf"Hkuecn"4238."qwt"hqtgkip"gzejcpig"ickp"eqpuvkvwvgf"2025'"cpf"2057'"qh"qwt"vqvcn"qrgtcvkpi" tgxgpwg." tgurgevkxgn{0"Vjg" gzejcpig" tcvg"dgvyggp" vjg" Kpfkcp"Twrgg" cpf"xctkqwu" hqtgkip"ewttgpekgu."kpenwfkpi"vjg"Gwtq."jcu"hnwevwcvgf"ukipkhkecpvn{"kp"vjg"tgegpv"rcuv0"Hwtvjgt."yg"fq"pqv"ewttgpvn{"gpvgt"kpvq"hqtgkip"ewttgpe{"jgfigu0"
Kpvgtguv"tcvg"tkum"
""
4;2""
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"Qwt"dwukpguu"jcu"dggp"korcevgf."cpf"yg"gzrgev."yknn"eqpvkpwg"vq"dg"korcevgf"d{"vjg"vtgpds identified above in “/"Ukipkhkecpv"Hcevqtu"Chhgevkpi"qwt"Tguwnvu"qh"Qrgtcvkqpu” and the uncertainties described in “Tkum"Hcevqtu” on rcig"380"Vq"vjg"dguv"qh"qwt"mpqyngfig."gzegrv"cu"fguetkdgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."vjgtg"ctg"pq"mpqyp"hcevqtu."yjkej"yg"gzrgev"eqwnf"jcxg"c"ocvgtkcn"cfxgtug"ghhgev"qp"qwt"tguwnvu"qh"qrgtcvkqpu0"""Ukipkhkecpv"geqpqoke"cpf"tgiwncvqt{"ejcpigu""
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4;3""
Significant Developments after March 31, 2016"
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4;4""
HKPCPEKCN"KPFGDVGFPGUU"
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*kkk+ gswkvcdng"oqtvicig"qxgt"egtvckp"kooqxcdng"rtqrgtvkgu"qypgf"d{"vjg"Eqorcp{"cpf"INH="cpf"*kx+ ejctig"qp"vjg"gpvktg"ewttgpv"cuugvu"cpf"oqxgcdng"hkzgf"cuugvu"qh"qwt"Eqorcp{0""Kp"oquv"ecugu."vjg"ugewtkv{"etgcvgf"kp"hcxqwt"qh"c"ngpfgt"ku"qp"c"rctk"rcuuw"dcuku"ykvj"qvjgt"ngpfgtu0""Cffkvkqpcnn{."qwt"Rtqoqvgt."Ot0"Ucplc{"Mcrqqt."cpf"vyq"ogodgtu"qh"vjg"Rtqoqvgt"Itqwr."cu"ygnn"cu"egtvckp"hqtogt"fktgevqtu"jcxg"rtqxkfgf"rgtuqpcn"iwctcpvggu" kp" vjg"rcuv" vq" ugewtg"egtvckp" hceknkvkgu"cxckngf"d{"qwt"Eqorcp{0"Hwtvjgt."qwt"Eqorcp{"cpf"qwt"Rtqoqvgt."Ot0"Ucplc{"Mcrqqt."jcxg"rtqxkfgf"c"eqtrqtcvg"iwctcpvgg"and personal guarantee, respectively, with respect to working capital demand loan, cash credit and buyer’u"etgfkv"hceknkv{"cxckngf"d{"INH0"
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4;5""
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4;6""
UGEVKQP"XK"–"NGICN"CPF"QVJGT"KPHQTOCVKQP"
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Qwt"Eqorcp{."INH"cpf"Dwtdgtt{"Kpfkc"Rtkxcvg"Nkokvgf"filed a special leave petition (“UNR”)."fcvgf"Pqxgodgt";."4233."before the Supreme Court of India (“Uwrtgog"Eqwtv”), with each of the Union of Kpfkc."Fktgevqt"Igpgtcn"qh"Ugtxkeg"Vcz."Egpvtcn"Dqctf"qh"Gzekug"cpf"Ewuvqou"cpf"vjg"Eqookuukqpgt"qh"Ugtxkeg"Vcz"cu"tgurqpfgpvu."cickpuv"cp"qtfgt"qh"vjg"Fgnjk"Jkij"Eqwtv"fcvgf"Ugrvgodgt"45."4233."yjkej"jgnf"vjcv"ugtxkeg"vcz"ku"rc{cdng"qp"tgpv"cu"vjgtg"ku"xcnwg"cffkvkqp"vq"vjg"rtqrgtv{"vjcv"ku"tgpvgf"qwv0"Qwt"Eqorcp{"jcu"eqpvgpfgf"kpvgt"cnkc"vjcv"vjgtg"ku"pq"xcnwg"cffkvkqp"kp"vjg"ngcukpi"qh"rtqrgtv{"kp"xkgy"qh"vjg"cdugpeg"qh"c"ugtxkeg"gngogpv"cpf"eqpugswgpvn{."tgpv"ujqwnf"pqv"dg"uwdlgev"vq"vjg"ngx{"qh"ugtxkeg"vcz0"Vjg"UNR"ycu"cfokvvgf"d{"vjg"Uwrtgog"Eqwtv"qp"Lcpwct{"8."4234."cpf"vjg"ocvvgt"ku"ewttgpvn{"rgpfkpi"hqt"hkpcn"qtfgtu"dghqtg"vjg"Uwrtgog"Eqwtv0"
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I0 "Ocvgtkcn"htcwfu"cickpuv"qwt"Eqorcp{"
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""
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"K0 Qwvuvcpfkpi"fwgu"vq"uocnn"uecng"wpfgtvcmkpiu"qt"cp{"qvjgt"etgfkvqtu""
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Cu"qh"Octej"53."4238."yg"jcf"78;"etgfkvqtu0"Vjg"ciitgicvg"coqwpv"qwvuvcpfkpi"vq"uwej"etgfkvqtu"cu"qp"Octej"53."4238"ycu"` 6750;6"oknnkqp0"Hqt"hwtvjgt"fgvcknu."ugg"jvvr<11yyy0igpgukueqnqtu0eqo0""
"Cu"rgt"vjg"Ocvgtkcnkv{"Rqnke{."etgfkvqtu"vq"yjqo"cp"coqwpv"gzeggfkpi"` 44092"oknnkqp."yjkej"ku"7"'"qh"qwt" vqvcn" eqpuqnkfcvgf" vtcfg" rc{cdngu" hqt" vjg" rgtkqf" gpfkpi" Octej" 53." 4238." ycu" qwvuvcpfkpi." ygtg"considered ‘material’ creditors. Based on the above, there are four material creditors of the Company as qp"Octej"53."4238."vq"yjqo"cp"ciitgicvg"coqwpv"qh"` 44202:"oknnkqp"qt"oqtg"ycu"qwvuvcpfkpi"qp"uwej"fcvg0""
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D0 Rgpfkpi"cevkqp"d{"uvcvwvqt{"qt"tgiwncvqt{"cwvjqtkvkgu"cickpuv"cp{"qh"qwt"Uwdukfkctkgu"
"Rtqeggfkpiu"cickpuv"INH"cpf"kvu"uwdukfkctkgu"*k0g0"qwt"kpfktgev"Uwdukfkctkgu+""The Directorate of Revenue Intelligence, Lucknow Zonal Unit (“FTK”), through its letter dated April"3;."4238."kpvkocvgf"INH"qh"kpkvkcvkqp"qh"cp"gpswkt{"kp"tgncvkqp"vq"rc{ogpv"qh"ewuvqou"fwv{"qp"vjg"korqtv"qh"branded goods of certain International Brands by GLF (“Gpswkt{"Ngvvgt”). The DRI has alleged that ukpeg"INH"ycu"kpewttkpi"gzrgpugu"hqt"rtqoqvkqp"qh"uwej"Kpvgtpcvkqpcn"Dtcpfu"d{"yc{"qh"cfxgtvkukpi"cpf"octmgvkpi." wpfgt" vjg"rtqxkukqpu"qh" citggogpvu" ykvj" vjg" Kpvgtpcvkqpcn"Dtcpfu."ewuvqou"fwv{" ycu" cnuq"rc{cdng" kp" tgurgev" qh" uwej" gzrgpugu" kpewttgf" d{" kv0" Vjg" Gpswkt{" Ngvvgt" uqwijv" egtvckp" fqewogpvu."kpenwfkpi"eqrkgu"qh"citggogpvu"ykvj"vjg"xctkqwu"Kpvgtpcvkqpcn"Dtcpfu0"Qwt"Rtqoqvgt."Ot0"Ucplc{"Mcrqqt"qp"Oc{"33."4238."kp"jku"ecrcekv{"cu"fktgevqt"qh"INH."cpf"Ot0"Ucokv"Iwjc."qp"Lwpg";."4238."Lwpg"38."4238"cpf"Cwiwuv"34."4238."kp"jku"ecrcekv{"cu"itqwr"EHQ."Igpguku"itqwr."tgegkxgf"uwooqpu"htqo"vjg"FTK"hqt"rgtuqpcn"crrgctcpeg0"INH"jcu"rckf"`"8022"oknnkqp"cpf"INO"jcu"rckf"`"3022"oknnkqp"cu"ewuvqou"fwv{."wpfgt"rtqvguv."kp"vjku"tgictf."qp"Lwn{"42."42380"Vjg"ocvvgt"ku"ewttgpvn{"rgpfkpi0""
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"F0 Qvjgt"Ocvgtkcn"qwvuvcpfkpi"nkvkicvkqp"kpxqnxkpi"qwt"Uwdukfkctkgu""
""
4;9""
"
Ocvgtkcn"qwvuvcpfkpi"nkvkicvkqp"kpkvkcvgf"cickpuv"qwt"Uwdukfkctkgu""Ocvgtkcn"qwvuvcpfkpi"nkvkicvkqp"cickpuv"INH"
30 Akari Enterprise LLC (“Cmctk”) filed"cp"ctdkvtcvkqp"rgvkvkqp"fcvgf" Lcpwct{"5."4237."cickpuv"INH."dghqtg" vjg"Jkij"Eqwtv" qh"Fgnjk" kp"eqppgevkqp" ykvj" c"eqpuwnvkpi" citggogpv" fcvgf" Cwiwuv" 6." 4233"entered into between Akari and GLF (“Eqpuwnvkpi"Citggogpv”), whereby Akari was to provide eqpuwnvcpe{"ugtxkegu"hqt" kpvtqfwekpi" nwzwt{"dtcpfu" vq"INH0"Cmctk"jcu"enckogf"c" uwo"qh"WUF"203"oknnkqp"cnngikpi"pqp/rc{ogpv"qh"hgg"vq"Cmctk"d{"INH."wpfgt"vjg"Eqpuwnvkpi"Citggogpv."wrqp"INH"gpvgtkpi"kpvq"c"fkuvtkdwvqtujkr"citggogpv"hqt"Kpfkc"ykvj"I/Uvct."c"dtcpf"cnngigfn{"kpvtqfwegf"vq"INH"d{"Cmctk0"Vjg"Jkij"Eqwtv"qh"Fgnjk"fkuokuugf"vjg"rgvkvkqp"d{"kvu"qtfgt"fcvgf"Lcpwct{"38."4237"ykvj"fktgevkqp"vq"Cmctk"vq"crrtqcej"vjg"Uwrtgog"Eqwtv"hqt"crrqkpvogpv"qh"cp"ctdkvtcvqt."wpfgt"crrnkecdng"rtqxkukqpu"qh"vjg"Ctdkvtcvkqp"cpf"Eqpeknkcvkqp"Cev."3;;80"D{"kvu"qtfgt"fcvgf"Cwiwuv"38."4238."kp"cp"ctdkvtcvkqp"rgvkvkqp"hkngf"d{"Cmctk"dghqtg"kv."vjg"Uwrtgog"Eqwtv"qh"Kpfkc"crrqkpvgf"c"uqng"ctdkvtcvqt"hqt"vjg"cflwfkecvkqp"qh"vjg"ocvvgt0""
40 Etro S.p.A (“Gvtq”) instituted a suit in the Court of"Okncp"cickpuv"INH"rwtuwcpv"vq"vyq"fkuvtkdwvqtujkr"agreements dated November 6, 2009 (the “Citggogpvu”) entered into between GLF and Etro S.p.A. Gvtq"jcu"enckogf"c"uwo"qh"GWT"306"oknnkqp"hqt"kpvgt"cnkc"GLF’s alleged failure to reach the guaranteed okpkowo"rwtejcug"tgswktgogpvu"kp"ceeqtfcpeg"ykvj"vjg"Citggogpvu."cpf"uwdugswgpv"enquwtg"qh"vyq"Gvtq"tgvckn"uvqtgu"kp"Owodck"cpf"Dcpicnqtg0"INH"jcu"enckogf"vjcv"kp"ceeqtfcpeg"ykvj"crrnkecdng"ncy."vjg"fgetgg"qh"vjg"Eqwtv"qh"Okncp"ku"pqv"gphqtegcdng"kp"Kpfkc."kp"xkgy"qh"Kvcn{"pqv"dgkpi"c"tgekrtqecvkpi"vgttkvqt{0""
"Ocvgtkcn"qwvuvcpfkpi"nkvkicvkqp"kpkvkcvgf"d{"qwt"Uwdukfkctkgu"""For details of material litigation initiated by our Subsidiary, GLF, please see “/"Ocvgtkcn"qwvuvcpfkpi"nkvkicvkqp"d{"qwt"Eqorcp{” on page 4;70""
KKK0 NKVKICVKQP"KPXQNXKPI"QWT"FKTGEVQTU"""
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(“GF”) kuuwgf"uwooqpu" qp" Ugrvgodgt" 9." 4237" vq" Ot0" Djctcfycl." kp" jku" ecrcekv{" cu"ocpcikpi"fktgevqt" qh" Ugswqkc" Ecrkvcn" Cfxkuqtu" Kpfkc" Rtkxcvg" Nkokvgf." wpfgt" vjg" Rtgxgpvkqp" qh" Oqpg{"Ncwpfgtkpi"Cev."4224."kp"tgncvkqp"vq"cp"kpxguvkicvkqp"cickpuv"Xcucp"Jgcnvj"Ectg"Rtkxcvg"Nkokvgf"(“XJERN”), since certain funds advised d{"Ugswqkc"Ecrkvcn"Cfxkuqtu"Kpfkc"Rtkxcvg"Nkokvgf."ctg"ujctgjqnfgtu" qh" XJERN0" Vjqwij" pq" urgekhke" cnngicvkqpu" jcxg" dggp"ocfg" hqtocnn{" cickpuv" Ot0"Djctcfycl."jg"ycu"fktgevgf"vq"rgtuqpcnn{"crrgct"dghqtg"vjg"GF"qp"Ugrvgodgt"44."4237"cpf"cnuq"hwtpkuj"egtvckp"kphqtocvkqp"cpf"fcvc"vq"vjg"GF0"Ot0"Djctfycl"jcu"rgtuqpcnn{"crrgctgf"dghqtg"vjg"GF"qp"ugxgtcn"qeecukqpu"cpf"jcu"cnuq"rtqxkfgf"vjg"kphqtocvkqp"tgswguvgf"d{"vjg"GF0""
40 Vjgtg"ctg"49"qpiqkpi"rtqeggfkpiu"wpfgt"ugevkqp"35:"qh"vjg"Pgiqvkcdng"Kpuvtwogpvu"Cev."3::3"tgcf"ykvj"ugevkqp"8:"qh" vjg"Eqfg" hqt"Etkokpcn"Rtqegfwtg."3;95."hqt"fkujqpqt"qh"ejgswgu."cickpuv"Ot0"Djctcfycl."kp"jku"ecrcekv{"cu"fktgevqt"qh"Xcucp"Jgcnvjectg"Rtkxcvg"Nkokvgf0"Vjg"ciitgicvg"coqwpv"kpxqnxgf."vq"vjg"gzvgpv"cuegtvckpcdng."ku"`"47043"oknnkqp0"
"
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issued directions to the Serious Fraud Investigation Office (“UHKQ”) to undertake an investigation into the affairs of Suburban Diagnostics Private Limited (“UFRN”), an investee company of Sequoia Ecrkvcn" Kpfkc"Itqyvj" Kpxguvogpvu" KK." c" hwpf"cfxkugf"d{"Ugswqkc"Ecrkvcn" Kpfkc" Cfxkuqtu"Rtkxcvg"
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"Ot0"Ucplc{"Mcrqqt""Except as disclosed in “–" Nkvkicvkqp" Kpxqnxkpi" Qwt" Uwdukfkctkgu" –" Rgpfkpi" cevkqp" d{" uvcvwvqt{" qt"tgiwncvqt{"cwvjqtkvkgu"cickpuv"cp{"qh"qwt"Uwdukfkctkgu"–"Rtqeggfkpiu"cickpuv"INH”"qp"rcig"4;8."vjgtg"ku"pq"rgpfkpi"cevkqp"d{"uvcvwvqt{"qt"tgiwncvqt{"cwvjqtkvkgu"cickpuv"Ot0"Ucplc{"Mcrqqt0""Ot0"Ucokv"Iwjc""Except as disclosed in “–" Nkvkicvkqp" Kpxqnxkpi" Qwt" Uwdukfkctkgu" –" Rgpfkpi" cevkqp" d{" uvcvwvqt{" qt"tgiwncvqt{"cwvjqtkvkgu"cickpuv"cp{"qh"qwt"Uwdukfkctkgu"–"Rtqeggfkpiu"cickpuv"INH”"qp"rcig"4;8."vjgtg"ku"pq"rgpfkpi"cevkqp"d{"uvcvwvqt{"qt"tgiwncvqt{"cwvjqtkvkgu"cickpuv"Ot0"Ucokv"Iwjc0"""
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"
Ot0"Djctcfycl"Vjktwxgpmcvc"Xgpmcvcxctcijcxcp""
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Ot0"Cvwn"Ukpij""C"civil suit was filed by a property redeveloper, Chetki Properties against Bata India Limited (“Dcvc”), dghqtg"vjg"Ekxkn"Lwfig"*Ut0"Fkxkukqp+"4pf"Eqwtv."46"Uqwvj"Rcticpc."Cnkrqtg."Mqnmcvc." kp"tgncvkqp"vq"cp"kooqxcdng"rtqrgtv{"kp"Dcnn{iwpig."Mqnmcvc."c"rqtvkqp"qh"yjkej"ku"qeewrkgf"d{"Dcvc"hqt"qrgtcvkpi"c"uvqtg"htqo"c"vjktf"rctv{"ncpf"nqtf0"Uwej"vjktf/rctv{"ncpfnqtf"jcf"itcpvgf"egtvckp"tkijvu."cu"qypgt"qh"vjg"rtqrgtv{."hqt" tgfgxgnqrogpv" vq"Ejgvmk"Rtqrgtvkgu." cpf" vjgtg"ycu"pq"eqpvtcevwcn"cttcpigogpv"dgvyggp"Dcvc"cpf"Ejgvmk"Rtqrgtvkgu" kp"tgncvkqp" vq" vjg"uwkv"rtqrgtv{0"Vjg"uwkv"cnuq" korngcfgf"Ot0"Cvwn"Ukpij" kp"jku" vjgp"ecrcekv{"cu"kpfgrgpfgpv"fktgevqt"qh"Bata, for the recovery of ₹ 70.01 million from Bata. The matter is ewttgpvn{"rgpfkpi0" "
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Ocvgtkcn"fgxgnqrogpvu"ukpeg"vjg"ncuv"dcncpeg"ujggv"fcvg"""Except as stated in “Management’s Discussion and Analysis of Financial Conditkqp"cpf"Tguwnvu"qh"Qrgtcvkqp"–"Ukipkhkecpv"Fgxgnqrogpvu"chvgt"Octej"53."4238” qp"rcig"4;2."pq"ektewouvcpegu"jcxg"ctkugp"ukpeg"Octej"53."4238."vjg"fcvg"qh" vjg"ncuv"tguvcvgf"hkpcpekcn" kphqtocvkqp"fkuenqugf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."yjkej"ocvgtkcnn{"cpf"cfxgtugn{"chhgev"qt"ctg"nkmgn{"vq"chhgev."qwt"qrgtcvkqpu"qt"gctpkpiu"vcmgp"cu"c"yjqng."vjg"xcnwg"qh"qwt"eqpuqnkfcvgf"cuugvu"qt"qwt"cdknkv{"vq"rc{"qwt"ocvgtkcn"nkcdknkvkgu"ykvjkp"vjg"pgzv"34"oqpvju0"
""
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IQXGTPOGPV"CPF"QVJGT"CRRTQXCNU"
"Qwt"Eqorcp{" ecp"wpfgtvcmg" vjg"Qhhgt"cpf"qwt"Eqorcp{."Uwdukfkctkgu"cpf" Lqkpv"Xgpvwtgu." tgurgevkxgn{." ecp"wpfgtvcmg" kvu" tgurgevkxg" ewttgpv" dwukpguu" cevkxkvkgu." kpenwfkpi" qp" vjg" dcuku" qh" vjg" nkuv" qh" ocvgtkcn" crrtqxcnu"rtqxkfgf"dgnqy."cpf"qvjgt"vjcp"cu"uvcvgf"dgnqy."pq"hwtvjgt"ocvgtkcn"crrtqxcnu"htqo"cp{"tgiwncvqt{"cwvjqtkv{"ctg"tgswktgf"vq"wpfgtvcmg"vjg"Qhhgt"qt"eqpvkpwg"uwej"dwukpguu"cevkxkvkgu0"Wpnguu"qvjgtykug"uvcvgf."vjgug"crrtqxcnu"ctg"xcnkf"cu"qh"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""K0 Kpeqtrqtcvkqp"fgvcknu"qh"qwt"Eqorcp{"
"30 Egtvkhkecvg"qh"kpeqtrqtcvkqp"fcvgf"Pqxgodgt"45."3;;:"kuuwgf"vq"qwt"Eqorcp{"d{"vjg"TqE"kp"vjg"pcog"qh"
‘Genesis Retail Private Limited’.""
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For details of corporate and other approvals in relation to the Offer, see “Qvjgt" Tgiwncvqt{" cpf" Uvcvwvqt{"Fkuenquwtgu"–"Cwvjqtkv{"hqt"vjg"Qhhgt"/"Eqtrqtcvg"Crrtqxcnu” on page 5270"
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"
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"
Pqpg"qh"qwt"Eqorcp{."qwt"Uwdukfkctkgu."qwt"Rtqoqvgtu."qwt"Rtqoqvgt"Itqwr."qwt"Fktgevqtu."Itqwr"Eqorcpkgu"qt"rgtuqpu"kp"eqpvtqn"qh"qwt"Eqorcp{"ctg"qt"jcxg"gxgt"dggp"rtqjkdkvgf"htqo"ceeguukpi"qt"qrgtcvkpi"kp"vjg"ecrkvcn"octmgv"qt"tguvtckpgf"htqo"dw{kpi."ugnnkpi"qt"fgcnkpi"kp"ugewtkvkgu"wpfgt"cp{"qtfgt"qt"fktgevkqp"rcuugf"d{"vjg"UGDK"qt"cp{"qvjgt"iqxgtpogpvcn"cwvjqtkvkgu0"Pgkvjgt"qwt"Rtqoqvgtu."pqt"cp{"qh"qwt"Fktgevqtu"qt"rgtuqpu"kp"eqpvtqn"qh"qwt"Eqorcp{"ygtg"qt"ctg"c"rtqoqvgt."fktgevqt"qt"rgtuqp"kp"eqpvtqn"qh"cp{"qvjgt"eqorcp{"yjkej"ku"fgdcttgf"htqo"ceeguukpi"vjg"ecrkvcn"octmgv"wpfgt"cp{"qtfgt"qt"fktgevkqpu"ocfg"d{"vjg"UGDK"qt"cp{"qvjgt"iqxgtpogpvcn"cwvjqtkvkgu0"Hwtvjgt."vjgtg"jcxg"dggp"pq"xkqncvkqpu"qh"ugewtkvkgu"ncyu"eqookvvgf"d{"cp{"qh"vjgo"kp"vjg"rcuv"qt"ctg"ewttgpvn{"rgpfkpi"cickpuv"vjgo0""
""
528""
Gcej"Ugnnkpi"Ujctgjqnfgt."ugxgtcnn{"cpf"pqv" lqkpvn{."urgekhkecnn{"eqphktou" vjcv" kv"jcu"pqv"dggp"rtqjkdkvgf"htqo"ceeguukpi"qt"qrgtcvkpi"kp"vjg"ecrkvcn"octmgvu"qt"tguvtckpgf"htqo"dw{kpi."ugnnkpi"qt"fgcnkpi"kp"ugewtkvkgu"wpfgt"cp{"qtfgt"qt"fktgevkqp"rcuugf"d{"UGDK"qt"cp{"qvjgt"cwvjqtkv{0"Hwtvjgt."gcej"Ugnnkpi"Ujctgjqnfgt."ugxgtcnn{"cpf"pqv"lqkpvn{."urgekhkecnn{"eqphktou"vjcv"kv"jcu"pqv"dggp"fgenctgf"cu"c"yknhwn"fghcwnvgt."cu"fghkpgf"wpfgt"vjg"UGDK"KEFT"Tgiwncvkqpu0"Vjgtg"ctg"pq"xkqncvkqpu"qh"ugewtkvkgu"ncyu"eqookvvgf"d{"cp{"qh"vjg"Ugnnkpi"Ujctgjqnfgtu"kp"vjg"rcuv"qt"ctg"ewttgpvn{"rgpfkpi"cickpuv"cp{"qh"vjgo0""Pqpg"qh"qwt"Fktgevqtu"ctg"kp"cp{"ocppgt"cuuqekcvgf"ykvj"vjg"ugewtkvkgu"octmgv."kpenwfkpi"ugewtkvkgu"octmgv"tgncvgf"dwukpguu"cpf"pq"cevkqp"jcu"dggp"vcmgp"d{"vjg"UGDK"cickpuv"qwt"Fktgevqtu"qt"cp{"gpvkv{"kp"yjkej"qwt"Fktgevqtu"ctg"kpxqnxgf"cu"rtqoqvgtu"qt"fktgevqtu0"""Pgkvjgt"qwt"Eqorcp{."pqt"qwt"Uwdukfkctkgu."pqt"qwt"Rtqoqvgtu."pqt"cp{"ogodgt"qh"qwt"Rtqoqvgt"Itqwr"pqt"qwt"Itqwr"Eqorcpkgu."pqt"qwt"Fktgevqtu."pqt"vjg"tgncvkxgu"*cu"rgt"vjg"Eqorcpkgu"Cev+"qh"qwt"Rtqoqvgt."Ot0"Ucplc{"Mcrqqt."ctg"qt"jcxg"dggp"fgenctgf"cu"yknhwn"fghcwnvgtu."cu"fghkpgf"d{"vjg"UGDK"KEFT"Tgiwncvkqpu0"""
Gnkikdknkv{"hqt"vjg"Qhhgt"""Qwt"Eqorcp{"ku"gnkikdng"hqt"vjg"Qhhgt"kp"ceeqtfcpeg"ykvj"vjg"Tgiwncvkqp"48*4+"qh"vjg"UGDK"KEFT"Tgiwncvkqpu"cu"fguetkdgf"dgnqy<""“Cp"kuuwgt"pqv"ucvkuh{kpi"vjg"eqpfkvkqp"uvkrwncvgf"kp"uwd/tgiwncvkqp"*3+"oc{"ocmg"cp"kpkvkcn"rwdnke"qhhgt"kh"vjg"kuuwg"ku"ocfg"vjtqwij"vjg"dqqm/dwknfkpi"rtqeguu"cpf"vjg"kuuwgt"wpfgtvcmgu"vq"cnnqv."cv"ngcuv"ugxgpv{"hkxg"rgtegpv"qh"vjg"pgv"qhhgt"vq"rwdnke."vq"swcnkhkgf"kpuvkvwvkqpcn"dw{gtu"cpf"vq"tghwpf"hwnn"uwduetkrvkqp"oqpg{"kh"kv"hcknu"vq"ocmg"vjg"uckf"okpkowo"cnnqvogpv"vq"swcnkhkgf"kpuvkvwvkqpcn"dw{gtu0”""Yg"ctg"cp"wpnkuvgf"eqorcp{"pqv"eqorn{kpi"ykvj"vjg"eqpfkvkqpu"urgekhkgf"kp"Tgiwncvkqp"48*3+"qh"vjg"UGDK"KEFT"Tgiwncvkqpu"cpf"ctg" vjgtghqtg"tgswktgf" vq"oggv" vjg"eqpfkvkqpu"fgvckngf" kp"Tgiwncvkqp"48*4+"qh" vjg"UGDK"KEFT"Tgiwncvkqpu0"""Yg"wpfgtvcmg"vq"eqorn{"ykvj"Tgiwncvkqp"48*4+"qh"vjg"UGDK"KEFT"Tgiwncvkqpu"cu"cv"ngcuv"97'"qh"vjg"Qhhgt"ku"rtqrqugf"vq"dg"Cnnqvvgf"vq"SKDu"cpf"kp"vjg"gxgpv"vjcv"yg"hckn"vq"fq"uq."vjg"hwnn"crrnkecvkqp"oqpkgu"ujcnn"dg"tghwpfgf"vq"vjg"Dkffgtu."kp"ceeqtfcpeg"ykvj"vjg"UGDK"KEFT"Tgiwncvkqpu0""Hwtvjgt."kp"ceeqtfcpeg"ykvj"Tgiwncvkqp"48*6+"qh"vjg"UGDK"KEFT"Tgiwncvkqpu."qwt"Eqorcp{"ujcnn"gpuwtg"vjcv"vjg"pwodgt"qh"Cnnqvvggu"wpfgt"vjg"Qhhgt"ujcnn"dg"pqv"nguu"vjcp"3.222."hcknkpi"yjkej."vjg"gpvktg"crrnkecvkqp"oqpg{"yknn"dg"tghwpfgf"hqtvjykvj0"Kh"qwt"Eqorcp{"fqgu"pqv"Cnnqv"Gswkv{"Ujctgu"rwtuwcpv"vq"vjg" Qhhgt"ykvjkp"ukz"Yqtmkpi"Fc{u"htqo"vjg"Dkf1Qhhgt"Enqukpi"Fcvg"qt"ykvjkp"uwej"vkognkpg"cu"rtguetkdgf"d{"vjg"UGDK."kv"ujcnn"tgrc{"ykvjqwv"kpvgtguv"cnn"oqpkgu"tgegkxgf"htqo"dkffgtu."hcknkpi"yjkej"kpvgtguv"ujcnn"dg"fwg"vq"dg"rckf"vq"vjg"crrnkecpvu"cv"vjg"tcvg"qh"37'"rgt"cppwo"hqt"vjg"fgnc{gf"rgtkqf0""Qwt"Eqorcp{"ku"kp"eqornkcpeg"ykvj"eqpfkvkqpu"urgekhkgf"kp"Tgiwncvkqp"6*4+"qh"vjg"UGDK"KEFT"Tgiwncvkqpu"vq"vjg"gzvgpv"crrnkecdng0"""Cnn"equvu."ejctigu."hggu"cpf"gzrgpugu"cuuqekcvgf"ykvj"cpf"kpewttgf"kp"eqppgevkqp"ykvj"vjku"Qhhgt"yknn."kp"ceeqtfcpeg"ykvj"crrnkecdng"ncy."dg"dqtpg"d{"qwt"Eqorcp{"cpf"vjg"Ugnnkpi"Ujctgjqnfgtu"kp"rtqrqtvkqp"vq"vjg"Gswkv{"Ujctgu"dgkpi"qhhgtgf"d{"gcej"qh"qwt"Eqorcp{"cpf"vjg"Ugnnkpi"Ujctgjqnfgtu"kp"vjku"Qhhgt0"""FKUENCKOGT"ENCWUG"QH"VJG"UGDK"
"KV"KU"VQ"DG"FKUVKPEVN["WPFGTUVQQF"VJCV"UWDOKUUKQP"QH" VJG"FTCHV"TGF"JGTTKPI"
RTQURGEVWU"VQ"VJG"UGDK"UJQWNF"PQV"KP"CP["YC["DG"FGGOGF"QT"EQPUVTWGF"VJCV"
VJG"UCOG"JCU"DGGP" ENGCTGF"QT" CRRTQXGF"D["VJG"UGDK0"UGDK"FQGU"PQV"VCMG"CP["
TGURQPUKDKNKV[" GKVJGT" HQT" VJG" HKPCPEKCN" UQWPFPGUU" QH" CP[" UEJGOG" QT" VJG"
RTQLGEV"HQT"YJKEJ"VJG"QHHGT"KU"RTQRQUGF"VQ"DG"OCFG"QT"HQT"VJG"EQTTGEVPGUU"
QH" VJG" UVCVGOGPVU" OCFG" QT" QRKPKQPU" GZRTGUUGF" KP" VJG" FTCHV" TGF" JGTTKPI"
RTQURGEVWU0" VJG" INQDCN" EQ/QTFKPCVQTU" CPF" DQQM" TWPPKPI" NGCF" OCPCIGTU."
DGKPI" KEKEK" UGEWTKVKGU" NKOKVGF" CPF" GFGNYGKUU" HKPCPEKCN" UGTXKEGU" NKOKVGF" CPF"
VJG"DQQM"TWPPKPI"NGCF"OCPCIGT."DGKPI"CODKV"RTKXCVG"NKOKVGF."JCXG"EGTVKHKGF"
VJCV" VJG" FKUENQUWTGU" OCFG" KP" VJG" FTCHV" TGF" JGTTKPI" RTQURGEVWU" CTG"
IGPGTCNN[" CFGSWCVG" CPF" CTG" KP" EQPHQTOKV[" YKVJ" VJG" UGDK" *KUUWG" QH" ECRKVCN"
""
529""
CPF"FKUENQUWTG"TGSWKTGOGPVU+"TGIWNCVKQPU."422;"KP"HQTEG"HQT"VJG"VKOG"DGKPI0"
VJKU"TGSWKTGOGPV"KU"VQ"HCEKNKVCVG"KPXGUVQTU"VQ"VCMG"CP"KPHQTOGF"FGEKUKQP"HQT"
OCMKPI"CP"KPXGUVOGPV"KP"VJG"RTQRQUGF"QHHGT0""
"
KV"UJQWNF"CNUQ"DG"ENGCTN["WPFGTUVQQF"VJCV"YJKNG"VJG"EQORCP["KU"RTKOCTKN["
TGURQPUKDNG"HQT"VJG"EQTTGEVPGUU."CFGSWCE["CPF"FKUENQUWTG"QH"CNN"TGNGXCPV"
KPHQTOCVKQP"KP"VJG"FTCHV"TGF"JGTTKPI"RTQURGEVWU."VJG"INQDCN"EQ/QTFKPCVQTU"
CPF" DQQM" TWPPKPI" NGCF" OCPCIGTU" CPF" VJG" DQQM" TWPPKPI" NGCF" OCPCIGT" CTG"
GZRGEVGF"VQ"GZGTEKUG"FWG"FKNKIGPEG"VQ"GPUWTG"VJCV"VJG"EQORCP["FKUEJCTIGU"
KVU"TGURQPUKDKNKV["CFGSWCVGN["KP"VJKU"DGJCNH"CPF" VQYCTFU"VJKU"RWTRQUG."VJG"
INQDCN" EQ/QTFKPCVQTU" CPF" DQQM" TWPPKPI" NGCF" OCPCIGTU." DGKPI" KEKEK"
UGEWTKVKGU" NKOKVGF" CPF" GFGNYGKUU" HKPCPEKCN" UGTXKEGU" NKOKVGF" CPF" VJG" DQQM"
TWPPKPI" NGCF" OCPCIGT." DGKPI" CODKV" RTKXCVG" NKOKVGF." JCXG" HWTPKUJGF" VQ" VJG"
UGDK" C" FWG" FKNKIGPEG" EGTVKHKECVG" FCVGF" UGRVGODGT" 4:." 4238" YJKEJ" TGCFU" CU"
HQNNQYU<"
"
YG."VJG"INQDCN"EQ/QTFKPCVQTU"CPF"DQQM"TWPPKPI"NGCF"OCPCIGTU"CPF"VJG"DQQM"
TWPPKPI"NGCF"OCPCIGT"VQ"VJG"CDQXG"OGPVKQPGF"HQTVJEQOKPI"QHHGT."UVCVG"CPF"
EQPHKTO"CU"HQNNQYU<""
"
30 YG" JCXG" GZCOKPGF" XCTKQWU" FQEWOGPVU" KPENWFKPI" VJQUG" TGNCVKPI" VQ"
NKVKICVKQP" NKMG" EQOOGTEKCN" FKURWVGU." RCVGPV" FKURWVGU." FKURWVGU" YKVJ"
EQNNCDQTCVQTU." GVE0" CPF" QVJGT" FQEWOGPVU" KP" EQPPGEVKQP" YKVJ" VJG"
HKPCNKUCVKQP"QH"VJG"FTCHV"TGF"JGTTKPI"RTQURGEVWU"RGTVCKPKPI"VQ"VJG"UCKF"
QHHGT="
"
40 QP"VJG"DCUKU"QH"UWEJ"GZCOKPCVKQP"CPF"VJG"FKUEWUUKQPU"YKVJ"VJG"EQORCP[."
KVU" FKTGEVQTU" CPF" QVJGT" QHHKEGTU." QVJGT" CIGPEKGU." CPF" KPFGRGPFGPV"
XGTKHKECVKQP" QH" VJG" UVCVGOGPVU" EQPEGTPKPI" VJG" QDLGEVU" QH" VJG" QHHGT."
RTKEG"LWUVKHKECVKQP"CPF"VJG"EQPVGPVU"QH"VJG"FQEWOGPVU"CPF"QVJGT"RCRGTU"
HWTPKUJGF"D["VJG"EQORCP[."YG"EQPHKTO"VJCV<"
"
C0 VJG"FTCHV"TGF"JGTTKPI"RTQURGEVWU"HKNGF"YKVJ"VJG"UGDK"KU"KP"EQPHQTOKV["
YKVJ"VJG"FQEWOGPVU."OCVGTKCNU"CPF"RCRGTU"TGNGXCPV"VQ"VJG"QHHGT="
"
D0 CNN" VJG" NGICN" TGSWKTGOGPVU" TGNCVKPI" VQ" VJG" QHHGT" CU" CNUQ" VJG"
TGIWNCVKQPU." IWKFGNKPGU." KPUVTWEVKQPU" GVE0." HTCOGF1KUUWGF" D[" VJG" UGDK."
VJG"EGPVTCN"IQXGTPOGPV"CPF"CP["QVJGT"EQORGVGPV"CWVJQTKV["KP"VJKU"
DGJCNH"JCXG"DGGP"FWN["EQORNKGF"YKVJ="CPF"
"
E0 VJG" FKUENQUWTGU" OCFG" KP" VJG" FTCHV" TGF" JGTTKPI" RTQURGEVWU" CTG" VTWG."
HCKT"CPF" CFGSWCVG"VQ"GPCDNG"VJG"KPXGUVQTU"VQ"OCMG"C"YGNN/KPHQTOGF"
FGEKUKQP"CU"VQ"KPXGUVOGPV"KP"VJG"RTQRQUGF"QHHGT"CPF"UWEJ"FKUENQUWTGU"
CTG"KP"CEEQTFCPEG"YKVJ"VJG"TGSWKTGOGPVU"QH"VJG"EQORCPKGU"CEV"3;78."VQ"
VJG"GZVGPV"CRRNKECDNG."VJG"EQORCPKGU"CEV"4235."VQ"VJG"GZVGPV"KP"HQTEG."
VJG" UGEWTKVKGU" CPF" GZEJCPIG" DQCTF" QH" KPFKC" *KUUWG" QH" ECRKVCN" CPF"
FKUENQUWTG" TGSWKTGOGPVU+" TGIWNCVKQPU." 422;." CU" COGPFGF" CPF" QVJGT"
CRRNKECDNG"NGICN"TGSWKTGOGPVU0"
"
50 YG"EQPHKTO"VJCV"DGUKFGU"QWTUGNXGU."CNN"VJG"KPVGTOGFKCTKGU"PCOGF"KP"VJG"
FTCHV" TGF" JGTTKPI" RTQURGEVWU" CTG" TGIKUVGTGF" YKVJ" VJG" UGDK" CPF" WPVKN"
FCVG"UWEJ"TGIKUVTCVKQPU"CTG"XCNKF="
"
60 YG"JCXG"UCVKUHKGF"QWTUGNXGU"CDQWV"VJG"ECRCDKNKV["QH"VJG"WPFGTYTKVGTU"VQ"
HWNHKN"VJGKT"WPFGTYTKVKPI"EQOOKVOGPVU"–"PQVGF"HQT"EQORNKCPEG=""
"
70 YG"EGTVKH["VJCV"YTKVVGP"EQPUGPV"HTQO"VJG"RTQOQVGTU"JCU"DGGP"QDVCKPGF"
FOR INCLUSION OF THEIR EQUITY SHARES AS PART OF THE PROMOTERS’
EQPVTKDWVKQP"UWDLGEV"VQ"NQEM/KP"CPF"VJG"GSWKV["UJCTGU"RTQRQUGF"VQ"HQTO"
RCTV" QH" VJG" PROMOTERS’ CONTRIBUTION SUBJECT TO LOCK/KP" UJCNN" PQV" DG"
""
52:""
FKURQUGF1"UQNF1"VTCPUHGTTGF"D["VJG"RTQOQVGTU"FWTKPI"VJG"RGTKQF"UVCTVKPI"
HTQO"VJG"FCVG"QH"HKNKPI"VJG"FTCHV"TGF"JGTTKPI"RTQURGEVWU"YKVJ"VJG"UGDK"
WPVKN"VJG"FCVG"QH"EQOOGPEGOGPV"QH"NQEM/KP"RGTKQF"CU"UVCVGF"KP"VJG"FTCHV"
TGF"JGTTKPI"RTQURGEVWU="
"
80 YG"EGTVKH["VJCV"TGIWNCVKQP"55"QH"VJG"UGEWTKVKGU"CPF"GZEJCPIG"DQCTF"QH"
KPFKC" *KUUWG" QH" ECRKVCN" CPF" FKUENQUWTG" TGSWKTGOGPVU+" TGIWNCVKQPU." 422;."
YJKEJ" TGNCVGU" VQ" GSWKV[" UJCTGU" KPGNKIKDNG" HQT" EQORWVCVKQP" QH"
PROMOTERS’ COPVTKDWVKQP."JCU"DGGP"FWN["EQORNKGF"YKVJ"CPF"CRRTQRTKCVG"
FKUENQUWTGU"CU"VQ"EQORNKCPEG"YKVJ"VJG"UCKF"TGIWNCVKQP"JCXG"DGGP"OCFG"KP"
VJG"FTCHV"TGF"JGTTKPI"RTQURGEVWU="
"
90 YG"WPFGTVCMG"VJCV"UWD/TGIWNCVKQP"*6+"QH"TGIWNCVKQP"54"CPF"ENCWUG"*E+"CPF"
*F+"QH"UWD/TGIWNCVKQP"*4+"QH"TGIWNCVKQP":"QH"VJG"UGEWTKVKGU"CPF"GZEJCPIG"
DQCTF" QH" KPFKC" *KUUWG" QH" ECRKVCN" CPF" FKUENQUWTG" TGSWKTGOGPVU+"
TGIWNCVKQPU."422;"UJCNN"DG"EQORNKGF"YKVJ0"YG"EQPHKTO"VJCV"CTTCPIGOGPVU"
HAVE BEEN MADE TO ENSURE THAT PROMOTERS’ CONTRIBUTION SHALL BE
TGEGKXGF"CV"NGCUV"QPG"FC["DGHQTG"VJG"QRGPKPI"QH"VJG"QHHGT0"YG"WPFGTVCMG"
THAT AUDITORS’ CERTIFICATE TO THIS EFFECT SHALL BE DULY SUBMITTED TO THE
UGDK0"YG"HWTVJGT"EQPHKTO"VJCV"CTTCPIGOGPVU"JCXG"DGGP"OCFG"VQ"GPUWTG"
THAT THE PROMOTERS’ CONTRIBUTION WILL BE KEPT IN AP" GUETQY" CEEQWPV"
YKVJ" C" UEJGFWNGF" EQOOGTEKCN" DCPM" CPF" UJCNN" DG" TGNGCUGF" VQ" VJG"
EQORCP["CNQPI"YKVJ"VJG"RTQEGGFU"QH"VJG"RWDNKE"QHHGT"–"PQV"CRRNKECDNG="
"
:0 YG"EGTVKH["VJCV"VJG"RTQRQUGF"CEVKXKVKGU"QH"VJG"EQORCP["HQT"YJKEJ"VJG"
HWPFU"CTG"DGKPI"TCKUGF"KP"VJG"RTGUGPV"QHHGT"FALL WITHIN THE ‘MAIN OBJECTS’
NKUVGF"KP"VJG"QDLGEV"ENCWUG"QH"VJG"OGOQTCPFWO"QH"CUUQEKCVKQP"QT"QVJGT"
EJCTVGT"QH"VJG"EQORCP["CPF"VJCV"VJG"CEVKXKVKGU"YJKEJ"JCXG"DGGP"ECTTKGF"
QWV"WPVKN"PQY"CTG"XCNKF"KP"VGTOU"QH"VJG"QDLGEV"ENCWUG"QH"KVU"OGOQTCPFWO"
QH"CUUQEKCVKQP="EQORNKGF"YKVJ"VQ"VJG"GZVGPV"CRRNKECDNG="
"
;0 YG"EQPHKTO"VJCV"PGEGUUCT["CTTCPIGOGPVU"JCXG"DGGP"OCFG"VQ"GPUWTG"VJCV"
VJG"OQPG[U"TGEGKXGF"RWTUWCPV"VQ"VJG"QHHGT"CTG"MGRV"KP"C"UGRCTCVG"DCPM"
CEEQWPV" CU" RGT" VJG" RTQXKUKQPU" QH" UWD/UGEVKQP" *5+" QH" UGEVKQP" 62" QH" VJG"
EQORCPKGU" CEV" 4235" CPF" VJCV" UWEJ" OQPG[U" UJCNN" DG" TGNGCUGF" D[" VJG" UCKF"
DCPM" QPN[" CHVGT" RGTOKUUKQP" KU" QDVCKPGF" HTQO" CNN" VJG" UVQEM" GZEJCPIGU"
OGPVKQPGF" KP" VJG" RTQURGEVWU0" YG" HWTVJGT" EQPHKTO" VJCV" VJG" CITGGOGPV"
GPVGTGF" KPVQ" DGVYGGP" VJG" DCPMGTU" VQ" VJG" QHHGT." VJG" EQORCP[" CPF" VJG"
UGNNKPI" UJCTGJQNFGTU" URGEKHKECNN[" EQPVCKPU" VJKU" EQPFKVKQP" –" PQVGF" HQT"
EQORNKCPEG0" CNN" OQPKGU" TGEGKXGF" HTQO" VJG" QHHGT" UJCNN" DG"
ETGFKVGF1VTCPUHGTTGF"VQ"C"UGRCTCVG"DCPM"CEEQWPV"CU"RGT"UGEVKQP"62*5+"QH"
VJG"EQORCPKGU"CEV"4235."CU"PQVKHKGF="
"
320 YG" EGTVKH[" VJCV" C" FKUENQUWTG" JCU" DGGP" OCFG" KP" VJG" FTCHV" TGF" JGTTKPI"
RTQURGEVWU"VJCV"VJG"KPXGUVQTU"UJCNN"DG"IKXGP"CP"QRVKQP"VQ"IGV"VJG"UJCTGU"
KP" FGOCV" QT" RJ[UKECN" OQFG" –" PQV" CRRNKECDNG0" WPFGT" UGEVKQP" 4;" QH" VJG"
EQORCPKGU" CEV" 4235." GSWKV[" UJCTGU" KP" VJG" QHHGT" YKNN" DG" KUUWGF" KP"
FGOCVGTKCNKUGF"HQTO"QPN[=""
"
330 YG"EGTVKH["VJCV"CNN"CRRNKECDNG"FKUENQUWTGU"OCPFCVGF"KP"VJG"UGEWTKVKGU"
CPF" GZEJCPIG" DQCTF" QH" KPFKC" *KUUWG" QH" ECRKVCN" CPF" FKUENQUWTG"
TGSWKTGOGPVU+" TGIWNCVKQPU." 422;" JCXG" DGGP" OCFG" KP" CFFKVKQP" VQ"
FKUENQUWTGU" YJKEJ." KP" QWT" XKGY." CTG" HCKT" CPF" CFGSWCVG" VQ" GPCDNG" VJG"
KPXGUVQT"VQ"OCMG"C"YGNN"KPHQTOGF"FGEKUKQP="
"
340 YG"EGTVKH["VJCV"VJG"HQNNQYKPI"FKUENQUWTGU"JCXG"DGGP"OCFG"KP"VJG"FTCHV"
TGF"JGTTKPI"RTQURGEVWU<"
"
""
52;""
c0 CP" WPFGTVCMKPI" HTQO" VJG" EQORCP[" VJCV" CV" CP[" IKXGP" VKOG" VJGTG"
UJCNN" DG" QPN[" QPG" FGPQOKPCVKQP" HQT" VJG" GSWKV[" UJCTGU" QH" VJG"
EQORCP[="CPF"
"
d0 CP"WPFGTVCMKPI"HTQO"VJG"EQORCP["VJCV"KV"UJCNN"EQORN["YKVJ"UWEJ"
FKUENQUWTG"CPF"CEEQWPVKPI"PQTOU"URGEKHKGF"D["VJG"UGDK"HTQO"VKOG"VQ"
VKOG0"
"
350 YG" WPFGTVCMG" VQ" EQORN[" YKVJ" VJG" TGIWNCVKQPU" RGTVCKPKPI" VQ"
CFXGTVKUGOGPVU"KP"VGTOU"QH"VJG"UGEWTKVKGU"CPF"GZEJCPIG"DQCTF"QH"KPFKC"
*KUUWG" QH" ECRKVCN" CPF" FKUENQUWTG" TGSWKTGOGPVU+" TGIWNCVKQPU." 422;" YJKNG"
OCMKPI"VJG"QHHGT"/"PQVGF"HQT"EQORNKCPEG="
"
360 YG"GPENQUG"C"PQVG"GZRNCKPKPI"JQY"VJG"RTQEGUU"QH"FWG"FKNKIGPEG"JCU"DGGP"
GZGTEKUGF"D["WU"KP"XKGY"QH"VJG"PCVWTG"QH"EWTTGPV"DWUKPGUU"DCEMITQWPF"QH"
VJG"EQORCP[."UKVWCVKQP"CV"YJKEJ"VJG"RTQRQUGF"DWUKPGUU"UVCPFU."VJG"TKUM"
FACTORS, PROMOTERS’ EXPERIENCE, ETC. /" EQORNKGF" YKVJ" VQ" VJG" GZVGPV"
CRRNKECDNG="
"
370 YG" GPENQUG" C" EJGEMNKUV" EQPHKTOKPI" TGIWNCVKQP/YKUG" EQORNKCPEG" YKVJ"
VJG"CRRNKECDNG"RTQXKUKQPU"QH"VJG"UGEWTKVKGU"CPF"GZEJCPIG"DQCTF"QH"KPFKC"
*KUUWG" QH" ECRKVCN" CPF" FKUENQUWTG" TGSWKTGOGPVU+" TGIWNCVKQPU." 422;."
EQPVCKPKPI"FGVCKNU"UWEJ"CU"VJG"TGIWNCVKQP"PWODGT."KVU"VGZV."VJG"UVCVWU"QH"
EQORNKCPEG."RCIG"PWODGT"QH"VJG"FTCHV"TGF"JGTTKPI"RTQURGEVWU"YJGTG"VJG"
TGIWNCVKQP"JCU"DGGP"EQORNKGF"YKVJ"CPF"QWT"EQOOGPVU."KH"CP[="
"
380 WE ENCLOSE STATEMENT ON ‘PRICE INFORMATION OF PAST ISSUES HANDLED BY
VJG"INQDCN"EQ/QTFKPCVQTU"CPF"DQQM"TWPPKPI"NGCF"OCPCIGTU"CPF"VJG"DQQM"
TWPPKPI" NGCF" OCPCIGT" (WHO ARE RESPONSIBLE FOR PRICING THIS OFFER)’, AS
RGT"HQTOCV"URGEKHKGF"D["VJG"UGDK"VJTQWIJ"EKTEWNCT="
"
390 YG" EGTVKH[" VJCV" RTQHKVU" HTQO" TGNCVGF" RCTV[" VTCPUCEVKQPU" JCXG" CTKUGP"
HTQO"NGIKVKOCVG"DWUKPGUU"VTCPUCEVKQPU"–"EQORNKGF"YKVJ"VQ"VJG"GZVGPV"QH"
VJG" TGNCVGF" RCTV[" VTCPUCEVKQPU" TGRQTVGF" KP" CEEQTFCPEG" YKVJ"
CEEQWPVKPI" UVCPFCTF" 3:" KP" VJG" HKPCPEKCN" UVCVGOGPVU" QH" VJG" EQORCP["
KPENWFGF"KP"VJG"FTCHV"TGF"JGTTKPI"RTQURGEVWU"CPF"CU"EGTVKHKGF"D["D"U"T"("
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"
3:0 YG"EGTVKH["VJCV"VJG"GPVKV["KU"GNKIKDNG"WPFGT"328["*3+"*C+"QT"*D+"*CU"VJG"ECUG"
OC["DG+"VQ"NKUV"QP"VJG"KPUVKVWVKQPCN"VTCFKPI"RNCVHQTO."WPFGT"EJCRVGT"ZE"
QH"VJG"UGDK"KEFT"TGIWNCVKQPU0"*KH"CRRNKECDNG+0"–"PQV"CRRNKECDNG0"
"
Vjg"hknkpi"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"fqgu"pqv."jqygxgt."cduqnxg"cp{"rgtuqp"yjq"jcu"cwvjqtk|gf"vjg"kuuwg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"htqo"cp{"nkcdknkvkgu"wpfgt"Ugevkqp"56"qt"Ugevkqp"58"qh"vjg"Eqorcpkgu"Cev"4235"qt"htqo"vjg"tgswktgogpv"qh"qdvckpkpi"uwej"uvcvwvqt{"cpf1qt"qvjgt"engctcpegu"cu"oc{"dg"tgswktgf"hqt"vjg"rwtrqug"qh"vjg"rtqrqugf"Qhhgt0"UGDK"hwtvjgt"tgugtxgu"vjg"tkijv"vq"vcmg"wr"cv"cp{"rqkpv"qh"vkog."ykvj"vjg"IEDTNOu"cpf"DTNO."cp{"kttgiwnctkvkgu"qt"ncrugu"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
Cnn" ngicn" tgswktgogpvu"rgtvckpkpi" vq" vjg"Qhhgt" yknn"dg"eqornkgf" ykvj" cv" vjg" vkog"qh" hknkpi"qh" vjg"Tgf"Jgttkpi"Rtqurgevwu"ykvj"vjg"TqE"kp"vgtou"qh"Ugevkqp"54"qh"vjg"Eqorcpkgu"Cev."42350"Cnn"ngicn"tgswktgogpvu"rgtvckpkpi"vq"vjg"Qhhgt"yknn"dg"eqornkgf"ykvj"cv"vjg"vkog"qh"tgikuvtcvkqp"qh"vjg"Rtqurgevwu"ykvj"vjg"TqE"kp"vgtou"qh"Ugevkqpu"48."52"cpf"54"qh"vjg"Eqorcpkgu"Cev."42350"
""
532""
Rtkeg"Kphqtocvkqp"qh"rcuv"kuuwgu"jcpfngf"d{"vjg"IEDTNOu"cpf"DTNO"
"
KEKEK"Ugewtkvkgu"Nkokvgf"
"30 Rtkeg" kphqtocvkqp"qh"rcuv" kuuwgu"*fwtkpi" vjg"ewttgpv" hkpcpekcn"{gct"cpf" vyq" hkpcpekcn"{gctu"rtgegfkpi" vjg"
ewttgpv"hkpcpekcn"{gct+"jcpfngf"d{"KEKEK"Ugewtkvkgu"Nkokvgf""
Ut0""
Pq0" Kuuwg"pcog"Kuuwg"uk|g"
*`"oknnkqp+"Kuuwg"rtkeg"
*`+" Nkuvkpi"fcvg"
Qrgpkpi"
rtkeg"qp"
nkuvkpi"fcvg"
*kp"`+"
-1/"'"ejcpig"kp"
enqukpi"rtkeg."]-1/"'"
ejcpig"kp"enqukpi"
dgpejoctm_/"52vj"
Ecngpfct"fc{u"htqo"
nkuvkpi"
-1/"'"ejcpig"kp"
enqukpi"rtkeg."]-1/"'"
ejcpig"kp"enqukpi"
dgpejoctm_/";2vj"
Ecngpfct"fc{u"htqo"
nkuvkpi"
-1/"'"ejcpig"kp"
enqukpi"rtkeg."]-1"'"
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dgpejoctm_/"3:2vj"
Ecngpfct"fc{u"
htqo"nkuvkpi"
30 Yqpfgtnc" Jqnkfc{u"Nkokvgf"
3.:34072" 347022" 2;/Oc{/36" 382022" -940;4'."]-33082'_" -9:0;8'."]-330:8'_"-384054'."]-43079'_"
40 Ujgoctqq"Gpvgtvckpogpv"Nkokvgf"
3.422022" 392022"*3+" 23/Qev/36" 3:2022" /7096'."]-40:3'_" /70::'."]-509;'_" -70:7'."]-80::'_"
50 XTN"Nqikuvkeu"Nkokvgf" 6.89:09:" 427022" 52/Crt/37" 4::022" -720;2'."]-502:'_" -:706;'."]-30;2'_"-3220;2'."]-20;9'_"
60 RPE"Kphtcvgej"Nkokvgf" 6.::6063" 59:022" 48/Oc{/37" 5:9022" -2054'."]-2048'_" -36088'."]/8058'_" -64094'."]/70::'_"
70 Ocprcucpf" Dgxgtcigu"Nkokvgf"
6.222022" 542022" 2;/Lwn/37" 522022" -45042'."]-40:5'_" -58075'."]/4033'_" -7:056'."]/8067'_"
80 Ucfdjcx" Kphtcuvtwevwtg"Rtqlgev"Nkokvgf"
6.;38079" 325022" 38/Ugr/37" 333022" /404:'."]-5077'_" /7085'."]/5037'_" /36078'.]/6078'_"
90 Vgcongcug" Ugtxkegu"Nkokvgf"
6.458099" :72022" 34/Hgd/38" :82022" -37056'."]-90;;'_" -705:'."]-34065'_" -57057'."]46053'_"
:0 Swkem" Jgcn"Vgejpqnqikgu"Nkokvgf"
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;0 Gswkvcu" Jqnfkpiu"Nkokvgf"
43.9880:7" 332022" 43/Crt/38" 367032" -560;7'."]/3085'_" -790;3'."]-909;'_" /"
320Vj{tqectg"Vgejpqnqikgu"Nkokvgf"
6.9;4036" 668022" 2;/Oc{/38" 887022" -580:7'."]-702;'_" -44079'."]32097'_" /"
330Wllkxcp" Hkpcpekcn"Ugtxkegu"Nkokvgf"
:.:460;8" 432022" 32/Oc{/38" 4530;2" -9405:'."]-60::'_" 33705:'."]32066'_" /"
340 "Swguu"Eqtr"Nkokvgf" 6.222022" 539022" 34/Lwn/38" 722022" -95082'."]-2086'_" /" /"
350Nctugp" (" Vqwdtq"Kphqvgej"Nkokvgf"
34.585097" 932022"*4+" 43/Lwn/38" 889022"/805;'."]-30:6'_" /" /"
360Cfxcpegf" Gp|{og"Vgejpqnqikgu"Nkokvgf"
6.3360::" :;8022"*5+" 23/Cwi/38" 3.432022"-78046'."]-3046'_" /" /"
370 TDN"Dcpm"Nkokvgf" 34.34;089" 447022" 53/Cwi/38" 496042" /" /" /"*3+ Fkueqwpv"qh"₹ 39"rgt"gswkv{"ujctg"qhhgtgf"vq"tgvckn"kpxguvqtu0"Cnn"ecnewncvkqpu"ctg"dcugf"qp"Kuuwg"Rtkeg"qh"₹ 392022"rgt"gswkv{"ujctg0"*4+ Fkueqwpv"qh"₹ 32"rgt"gswkv{"ujctg"qhhgtgf"vq"tgvckn"kpxguvqtu0"Cnn"ecnewncvkqpu"ctg"dcugf"qp"Kuuwg"Rtkeg"qh"₹"932022"rgt"gswkv{"ujctg0"*5+ Fkueqwpv"qh"₹":8"rgt"gswkv{"ujctg"qhhgtgf"vq"Gnkikdng"Gornq{ggu0"Cnn"ecnewncvkqpu"ctg"dcugf"qp"Kuuwg"Rtkeg"qh"₹ :;8022"rgt"gswkv{"ujctg0"Pqvgu<"
30 Cnn"fcvc"uqwtegf"htqo"yyy0pugkpfkc0eqo"40 Dgpejoctm"kpfgz"eqpukfgtgf"ku"PKHV["
50 52vj.";2vj."3:2vj"ecngpfct"fc{"htqo"nkuvgf"fc{"jcxg"dggp"vcmgp"cu"nkuvkpi"fc{"rnwu"4;.":;"cpf"39;"ecngpfct"fc{u."gzegrv"yjgtgxgt"52vj.";2vj."3:2vj"ecngpfct"fc{"ku"c"jqnkfc{."kp"yjkej"ecug"vjg"enqukpi"fcvc"qh"vjg"pgzv"vtcfkpi"fc{"jcu"dggp"eqpukfgtgf"
"
40 Uwooct{"uvcvgogpv"qh"rtkeg"kphqtocvkqp"qh"rcuv"kuuwgu"*fwtkpi"vjg"ewttgpv"hkpcpekcn"{gct"cpf"vyq"hkpcpekcn"{gctu"rtgegfkpi"vjg"ewttgpv"hkpcpekcn"{gct+"jcpfngf"d{"KEKEK"Ugewtkvkgu"Nkokvgf""
"Hkpcpekcn"
{gct""
Vqvcn"
pq0"qh"
KRQu""
Vqvcn"hwpfu"
tckugf"
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Pqu0"qh"KRQu"vtcfkpi"cv"
fkueqwpv"–"52vj
"ecngpfct"fc{"
htqo"nkuvkpi"""
Pqu0"qh"KRQu"vtcfkpi"cv"
rtgokwo"–"52vj
"ecngpfct"
fc{"htqo"nkuvkpi""
Pqu0"qh"KRQu"vtcfkpi"cv"
fkueqwpv"–"3:2vj
"ecngpfct"
fc{"htqo"nkuvkpi"
Pqu0"qh"KRQu"vtcfkpi"cv"
rtgokwo"–"3:2vj
"ecngpfct"
fc{"htqo"nkuvkpi"
Qxgt"
72'"
"
Dgvyggp"
47'/72'"
"
Nguu"
vjcp"
47'"
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72'"
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4238/4239" 9" 89.;;4047" /" /" 3" 5" 4" /" /" /" /" /" /" /"4237/4238" 8" 49.44;028" /" 3" 3" 3" /" 5" /" /" 4" 4" 4" /"4236/4237" 4" 5.234072" /" /" 3" 3" /" /" /" /" /" 3" /" 3"
"
Gfgnygkuu"Hkpcpekcn"Ugtxkegu"Nkokvgf""
"30 Rtkeg" kphqtocvkqp"qh"rcuv" kuuwgu"*fwtkpi" vjg"ewttgpv" hkpcpekcn"{gct"cpf" vyq" hkpcpekcn"{gctu"rtgegfkpi" vjg"
ewttgpv"hkpcpekcn"{gct+"jcpfngf"d{"Gfgnygkuu"Hkpcpekcn"Ugtxkegu"Nkokvgf""
""
533""
Ut0""
Pq0" Kuuwg"pcog"Kuuwg"uk|g"
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'"ejcpig"kp"
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]-1"'"ejcpig"kp"
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htqo"nkuvkpi"
3"Vj{tqectg"Vgejpqnqikgu"Nkokvgf" 6.9;4036" 668022" Oc{"2;."4238" 887022" 580:7']702;'_" 44079']32097'_" Pqv"crrnkecdng"
4"Gswkvcu" Jqnfkpiu"Nkokvgf" 43.9880:7" 332022" Crtkn"43."4238" 367032" 56086']/4027'_" 790;3']909;'_" Pqv"crrnkecdng"
5"Jgcnvjectg" Inqdcn"Gpvgtrtkugu"Nkokvgf"
8.6;8062" 43:022" Octej"52."4238" 432042" /3705'="]3067'_" /3;0;:']6087'_" /304:']34099'_"
6"Cnmgo" Ncdqtcvqtkgu"NkokvgfB"
35.699086" 3.272022" Fgegodgt" 45."4237"
3.5:2022" 52056'="]/906;'_" 4:082'"]/4028'_" 530;3']6096'_"
7"Eqhhgg" Fc{"Gpvgtrtkugu"Nkokvgf"
33.722022" 54:022" Pqxgodgt" 4."4237"
539022" /43064'="]/303;'_" /42098'="]/8037'_" /420;:'=" ]/4072'_"
8"Rtcdjcv" Fckt{"Nkokvgf`"
5.7830::" 337022" Ugrvgodgt" 43."4237"
335022" 3309:'"="]5079'_" 520:5'"]/309;'_" /706:'=" ]/6089'_"
9"Ucfdjcx" Kphtcuvtwevwtg"Rtqlgev"Nkokvgf"
6.;38079" 325022" Ugrvgodgt" 38."4237"
333022" /404:'."]5077'_" /7085'="]/5037'_" /36078'=" ]/6078'"_"
:"Pcxmct" Eqtrqtcvkqp"Nkokvgf"
8.222022" 377022" Ugrvgodgt" ;."4237"
374022" 20;9'."]50;9'_" 48022'="]/208:'_" 804;'="]/6048'_"
;"Kpqz"Ykpf"Nkokvgf," 3.2427056" 547022" Crtkn";."4237" 622022" 4:076'."]/808:'_" 64064'."]/5027'_" 33042'." ]/
9073'_"
32"Oqpvg" Ectnq" Hcujkqpu"Nkokvgf"
5.726052" 867022" Fgegodgt" 3;."4236"
7:6022" /48042'."]50;8'_" /45079'."]7082'_" /420::'." ]/4038'_"
Uqwteg<"yyy0pugkpfkc0eqo""B"Cnmgo"Ncdqtcvqtkgu"Nkokvgf"/"Fkueqwpv"qh"₹100 per equity share offered to eligible employees. All calculations are based on offer price of ₹1,050.00 per equity ujctg0"",Kpqz"Ykpf"Nvf"/"Fkueqwpv"qh"₹15 per equity share offered to retail investors and eligible employees. All calculations are based"on issue price of ₹325.00 per gswkv{"ujctg0""`"Rtcdjcv"Fckt{"Nvf"/"Fkueqwpv"qh"₹5 per equity share offered to retail investors. All calculations are based on issue price of ₹ 115.00 per equity share."Pqvgu<""
30 Dcugf"qp"fcvg"qh"nkuvkpi0"40 '"qh"ejcpig"kp"enqukpi"rtkeg"qp"52vj1";2vj"1"3:2vj"ecngpfct"fc{"htqo"nkuvkpi"fc{"ku"ecnewncvgf"xu"Kuuwg"rtkeg0"'"ejcpig"kp"enqukpi"dgpejoctm"kpfgz"ku"
ecnewncvgf"dcugf"qp"enqukpi"kpfgz"qp"nkuvkpi"fc{"xu"enqukpi"kpfgz"qp"52vj1";2vj"1"3:2vj"ecngpfct"fc{"htqo"nkuvkpi"fc{0"50 Yjgtgxgt"52vj1";2vj"1"3:2vj"ecngpfct"fc{"htqo"nkuvkpi"fc{"ku"c"jqnkfc{."vjg"enqukpi"fcvc"qh"vjg"pgzv"vtcfkpi"fc{"jcu"dggp"eqpukfgtgf0"60 Vjg"Pkhv{"72"kpfgz"ku"eqpukfgtgf"cu"vjg"Dgpejoctm"Kpfgz"70 Pqv"crrnkecdng0"–"Rgtkqf"pqv"eqorngvgf0"80 Fkuenquwtg"kp"Vcdng/3"tguvtkevgf"vq"32"kuuwgu0""
"
40 Uwooct{"uvcvgogpv"qh"rtkeg"kphqtocvkqp"qh"rcuv"kuuwgu"*fwtkpi"vjg"ewttgpv"hkpcpekcn"{gct"cpf"vyq"hkpcpekcn"{gctu"rtgegfkpi"vjg"ewttgpv"hkpcpekcn"{gct+"jcpfngf"d{"Gfgnygkuu"Hkpcpekcn"Ugtxkegu"Nkokvgf"
"Hkpcpekcn"
{gct""
Vqvcn"
pq0"qh"
KRQu""
Vqvcn"hwpfu"
tckugf"
*`̀"kp"Oknnkqp+"
Pqu0"qh"KRQu"vtcfkpi"cv"
fkueqwpv"–"52vj
"ecngpfct"fc{"
htqo"nkuvkpi"""
Pqu0"qh"KRQu"vtcfkpi"cv"
rtgokwo"–"52vj
"ecngpfct"
fc{"htqo"nkuvkpi""
Pqu0"qh"KRQu"vtcfkpi"cv"
fkueqwpv"–"3:2vj
"ecngpfct"
fc{"htqo"nkuvkpi"
Pqu0"qh"KRQu"vtcfkpi"cv"
rtgokwo"–"3:2vj
"ecngpfct"
fc{"htqo"nkuvkpi"
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72'"
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"
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4238/4239`" 4" 48.77:0;;" /" /" /" /" 4" /" /" /" /" /" /" /"4237/4238" 9" 78.3790:5" /" /" 5" /" 4" 4" /" /" 6" /" 3" 4"4236/4237" 5" :.:57062" /" 3" /" 4" /" /" /" /" 3" 4" /" /"
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Ut0""
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""
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Fkuenckogt"kp"tgurgev"qh"Lwtkufkevkqp"""
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""
536""
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"Crrnkecvkqp"jcu"dggp"ocfg"vq"vjg"Uvqem"Gzejcpigu"hqt"qdvckpkpi"rgtokuukqp"hqt"nkuvkpi"cpf"vtcfkpi"qh"vjg"Gswkv{"Ujctgu"dgkpi"qhhgtgf"cpf"uqnf"kp"vjg"Qhhgt"cpf" ]●_"ku"vjg"Fgukipcvgf"Uvqem"Gzejcpig."ykvj"yjkej"vjg"Dcuku"qh"Cnnqvogpv"yknn"dg"hkpcnk|gf"hqt"vjg"Qhhgt0""Kh"vjg"rgtokuukqp"vq"fgcn"kp"cpf"hqt"cp"qhhkekcn"swqvcvkqp"qh"vjg"Gswkv{"Ujctgu"ku"pqv"itcpvgf"d{"vjg"Uvqem"Gzejcpigu."qwt"Eqorcp{"ujcnn"hqtvjykvj"tgrc{."ykvjqwv"kpvgtguv."cnn"oqpkgu"tgegkxgf"htqo"vjg"crrnkecpvu"kp"rwtuwcpeg"qh"vjg"Tgf" Jgttkpi" Rtqurgevwu" kp" ceeqtfcpeg" ykvj" crrnkecdng" ncy0" Qwt" Eqorcp{" ujcnn" gpuwtg" vjcv" cnn" uvgru" hqt" vjg"eqorngvkqp"qh"vjg"pgeguuct{"hqtocnkvkgu"hqt"nkuvkpi"cpf"eqoogpegogpv"qh"vtcfkpi"qh"Gswkv{"Ujctgu"cv"vjg"Uvqem"Gzejcpigu"ctg" vcmgp"ykvjkp" ukz"Yqtmkpi"Fc{u"qh" vjg"Dkf1Qhhgt"Enqukpi"Fcvg0" Kh"qwt"Eqorcp{"fqgu"pqv"cnnqv"Gswkv{"Ujctgu"rwtuwcpv"vq"vjg"Qhhgt"ykvjkp"ukz"Yqtmkpi"Fc{u"htqo" vjg"Dkf1Qhhgt"Enqukpi"Fcvg"qt"ykvjkp"uwej"vkognkpg"cu"rtguetkdgf"d{"UGDK."kv"ujcnn"tgrc{"ykvjqwv"kpvgtguv"cnn"oqpkgu"tgegkxgf"htqo" Dkffgtu."hcknkpi"yjkej"kpvgtguv"ujcnn"dg"fwg"vq"dg"rckf"vq"vjg"Dkffgtu"cv"vjg"tcvg"qh"37'"rgt"cppwo"hqt"vjg"fgnc{gf"rgtkqf0""Vjg"Ugnnkpi"Ujctgjqnfgtu"wpfgtvcmg"vq"rtqxkfg"uwej"tgcuqpcdng"uwrrqtv"cpf"gzvgpf"tgcuqpcdng"eqqrgtcvkqp"cu"oc{"dg"tgswguvgf"d{"qwt"Eqorcp{."vq"vjg"gzvgpv"uwej"uwrrqtv"cpf"eqqrgtcvkqp"ku"tgswktgf"htqo"uwej"rctv{"vq"hceknkvcvg"vjg"rtqeguu"qh" nkuvkpi" cpf"eqoogpegogpv" qh" vtcfkpi"qh" vjg"Gswkv{"Ujctgu"qp" vjg"Uvqem"Gzejcpigu" ykvjkp" ukz"yqtmkpi"fc{u"htqo"vjg"Dkf1Qhhgt"Enqukpi"Fcvg0"""Korgtuqpcvkqp"
"Cvvgpvkqp"qh"vjg"Dkffgtu"ku"urgekhkecnn{"ftcyp"vq"vjg"rtqxkukqpu"qh"uwd/ugevkqp"*3+"qh"Ugevkqp"5:"qh"vjg"Eqorcpkgu"Cev"4235."yjkej"ku"tgrtqfwegf"dgnqy<""
“Any persop"yjq"–"""*c+ ocmgu"qt"cdgvu"ocmkpi"qh"cp"crrnkecvkqp"kp"c"hkevkvkqwu"pcog"vq"c"eqorcp{"hqt"ceswktkpi."qt"uwduetkdkpi"hqt."
kvu"ugewtkvkgu."qt"
*d+ ocmgu"qt"cdgvu"ocmkpi"qh"ownvkrng"crrnkecvkqpu"vq"c"eqorcp{"kp"fkhhgtgpv"pcogu"qt"kp"fkhhgtgpv"eqodkpcvkqpu"qh"jku"pcog"qt"uwtpcog"hqt"ceswktkpi"qt"uwduetkdkpi"hqt"kvu"ugewtkvkgu="qt""
*e+ qvjgtykug"kpfwegu"fktgevn{"qt"kpfktgevn{"c"eqorcp{"vq"cnnqv."qt"tgikuvgt"cp{"vtcpuhgt"qh."ugewtkvkgu"vq"jko."qt"vq"cp{"qvjgt"rgtuqp"kp"c"hkevkvkqwu"pcog."
ujcnn"dg"nkcdng"hqt"cevkqp"wpfgt"ugetion 447.” ""
Vjg"nkcdknkv{"rtguetkdgf"wpfgt"Ugevkqp"669"qh"vjg"Eqorcpkgu"Cev"4235"kpenwfgu"kortkuqpogpv"hqt"c"vgto"qh"pqv"nguu"vjcp"ukz"oqpvju"gzvgpfkpi"wr"vq"32"{gctu"*rtqxkfgf"vjcv"yjgtg"vjg"htcwf"kpxqnxgu"rwdnke"kpvgtguv."uwej"vgto"ujcnn"pqv"dg"nguu"vjcp"vjtgg"{gctu+"cpf"hkpg"qh"cp"coqwpv"pqv"nguu"vjcp"vjg"coqwpv"kpxqnxgf"kp"vjg"htcwf."gzvgpfkpi"wr"vq"vjtgg"vkogu"qh"uwej"coqwpv0""
"
""
537""
Eqpugpvu"
"Eqpugpvu" kp" ytkvkpi"qh" *c+" vjg"Ugnnkpi"Ujctgjqnfgtu." qwt" Fktgevqtu." vjg" Ejkgh" Hkpcpekcn"Qhhkegt." vjg" Eqorcp{"Ugetgvct{"cpf"Eqornkcpeg"Qhhkegt."vjg"Cwfkvqtu."vjg"ngicn"eqwpugnu."vjg"Dcpmgtu"vq"qwt"Eqorcp{."vjg"Dcpmgtu"vq"vjg"Qhhgt."ngpfgtu"*yjgtg"uwej"eqpugpv"ku"tgswktgf+."kpfwuvt{"uqwtegu."vjktf"rctv{"ejctvgtgf"ceeqwpvcpvu."ctejkvgev."gpikpggtkpi" eqpuwnvcpv." vjg"IEDTNOu." DTNO" cpf" Tgikuvtct" vq" vjg" Qhhgt" jcxg" dggp" qdvckpgf=" cpf" *d+" vjg"U{pfkecvg" Ogodgtu." Dcpmgtu" vq" vjg" Qhhgt1Cpejqt" Guetqy" Dcpm" cpf" Tghwpf" Dcpm" vq" cev" kp" vjgkt" tgurgevkxg"ecrcekvkgu."yknn"dg"qdvckpgf"cpf"hkngf"cnqpi"ykvj"c"eqr{"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"ykvj"vjg"TqE."cu"tgswktgf"wpfgt"Ugevkqp"48"cpf"54"qh"vjg"Eqorcpkgu"Cev"42350"Hwtvjgt."uwej"eqpugpvu"ujcnn"pqv"dg"ykvjftcyp"wr"vq"vjg"vkog"qh"fgnkxgt{"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"cpf"vjg"Rtqurgevwu"ykvj"vjg"UGDK0""Qwt"Eqorcp{"jcu"tgegkxgf"ytkvvgp"eqpugpv"htqo"D"U"T"("Eq0"NNR."qwt"Cwfkvqtu."vq"kpenwfg"kvu"pcog"cu"tgswktgf"under Section 26(1)(a)(v) of the Companies Act 2013 in this Draft Red Herring Prospectus and as “expert” as fghkpgf"wpfgt"Ugevkqp"4*5:+"qh"vjg"Eqorcpkgu"Cev"4235"kp"tgurgev"qh"vjg"tgrqtvu"qh"vjg"Cwfkvqt"qp"vjg"tguvcvgf"eqpuqnkfcvgf"cpf"uvcpfcnqpg"hkpcpekcn"kphqtocvkqp"hqt"vjg"Hkuecnu"gpfgf"Octej"53."4238."4237."4236."4235"cpf"4234."gcej"fcvgf"Ugrvgodgt"42."4238"kpenwfgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"cpf"uwej"eqpugpv"jcu"pqv"dgen withdrawn as on the date of this Draft Red Herring Prospectus. However, the term “expert” shall not be construed to mean an “expert” as defined under the U.S. Securities Act."""Gzrgtv"Qrkpkqp"
"Gzegrv" hqt" vjg" gzcokpcvkqp" tgrqtvu" qh" qwt" Cwfkvqtu" qp" vjg" tguvcvgf" eqpuqnkfcvgf" cpf" uvcpfcnqpg" hkpcpekcn"kphqtocvkqp"hqt"vjg"Hkuecnu"gpfgf"Octej"53."4238."4237."4236."4235"cpf"4234."tgurgevkxgn{."kpenwfgf"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."qp"rcigu"37;"cpf"437."qwt"Eqorcp{"jcu"pqv"qdvckpgf"cp{"gzrgtv"qrkpkqp0""Qhhgt"Gzrgpugu"
"
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[●]" [●]" [●]"
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70 " Hggu"rc{cdng"vq"vjg"Tgikuvtct"vq"vjg"Qhhgt" [●]" [●]" ]●]"80 " Nkuvkpi" hggu."UGDK" hknkpi"hggu."dqqm/dwknfkpi"uqhvyctg"cpf"
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"Qvjgt"vjcp"nkuvkpi"hggu."yjkej"yknn"dg"dqtpg"d{"qwt"Eqorcp{."cnn"equvu."hggu"cpf"gzrgpugu"cuuqekcvgf"ykvj"cpf"kpewttgf"kp"eqppgevkqp"ykvj"vq"vjg"Qhhgt"ujcnn"dg"ujctgf"coqpi"qwt"Eqorcp{"cpf"vjg"Ugnnkpi"Ujctgjqnfgtu"qp"c"rtq/tcvc"dcuku." kp"rtqrqtvkqp"vq"vjg"pwodgt"qh"Gswkv{"Ujctgu"kuuwgf"cpf"Cnnqvvgf"d{" qwt"Eqorcp{"vjtqwij"vjg"Htguj"Kuuwg"cpf"uqnf"d{"gcej"qh"vjg"Ugnnkpi"Ujctgjqnfgtu"vjtqwij"vjg"Qhhgt"hqt"Ucng0"Wrqp"eqorngvkqp"qh"vjg"Qhhgt."
""
538""
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"Vjg" vqvcn"hggu"rc{cdng" vq" vjg"IEDTNOu."DTNO"cpf"U{pfkecvg"Ogodgtu" *kpenwfkpi"wpfgtytkvkpi"cpf"ugnnkpi"eqookuukqpu+."cpf"tgkodwtugogpv"qh"vjgkt"qwv"qh"rqemgv"gzrgpugu."yknn"dg"cu"uvcvgf"kp"vjg"gpicigogpv"ngvvgt"fcvgf"Ugrvgodgt"4:."4238."cpf"vjg"U{pfkecvg"Citggogpv"vq"dg"gzgewvgf"coqpi"qwt"Eqorcp{."vjg"Ugnnkpi"Ujctgjqnfgtu"cpf" vjg"ogodgtu" qh" vjg" U{pfkecvg." eqrkgu" qh" yjkej" ujcnn" dg" cxckncdng" hqt" kpurgevkqp" cv" qwt" Tgikuvgtgf" cpf"Eqtrqtcvg"Qhhkeg."htqo"32022"co"vq"6022"r0o0"qp"Yqtmkpi"Fc{u"htqo"vjg"fcvg"qh"hknkpi"vjg"Tgf"Jgttkpi"Rtqurgevwu"wpvkn"vjg"Dkf1Qhhgt"Enqukpi"Fcvg0"""
Hggu"Rc{cdng"vq"vjg"Tgikuvtct"vq"vjg"Qhhgt"
"Vjg"hggu"rc{cdng"vq"vjg"Tgikuvtct"vq"vjg"Qhhgt."kpenwfkpi"hggu"hqt"rtqeguukpi"qh"Dkf"ewo"Crrnkecvkqp"Hqtou."fcvc"gpvt{."rtkpvkpi"qh"Cnnqvogpv"Cfxkeg."tghwpf"qtfgt."rtgrctcvkqp"qh"tghwpf"fcvc" qp"ocipgvke"vcrg"cpf"rtkpvkpi"qh"dwnm"ocknkpi"tgikuvgt."yknn"dg"cu"rgt"vjg"citggogpv"fcvgf"Ugrvgodgt"4:."4238"ukipgf"coqpi"qwt"Eqorcp{."vjg"Ugnnkpi"Ujctgjqnfgtu"cpf"vjg"Tgikuvtct"vq"vjg"Qhhgt."c"eqr{"qh"yjkej"ujcnn"dg"ocfg"cxckncdng"hqt"kpurgevkqp"cv"qwt"Tgikuvgtgf"Qhhkeg0"""Rctvkewnctu"tgictfkpi"Rwdnke"qt"Tkijvu"Kuuwgu"fwtkpi"vjg"Ncuv"Hkxg"[gctu"
"Other than as disclosed in “Ecrkvcn"Uvtwevwtg”"qp"rcig"8:."vjgtg"jcxg"dggp"pq"rwdnke."kpenwfkpi"cp{"tkijvu"kuuwgu"vq"vjg"rwdnke"wpfgtvcmgp"d{"qwt"Eqorcp{"fwtkpi"vjg"hkxg"{gctu"koogfkcvgn{"rtgegfkpi"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
Eqookuukqp"qt"Dtqmgtcig"qp"Rtgxkqwu"Kuuwgu"
"
Ukpeg"vjku"ku"vjg"kpkvkcn"rwdnke"qhhgtkpi"qh"vjg"Gswkv{"Ujctgu"qh"qwt"Eqorcp{."pq"uwo"jcu"dggp"rckf"qt"jcu"dggp"rc{cdng"cu"eqookuukqp"qt"dtqmgtcig"hqt"uwduetkdkpi"vq"qt"rtqewtkpi"qt"citggkpi"vq"rtqewtg"rwdnke"uwduetkrvkqp"hqt"cp{"qh"qwt"Gswkv{"Ujctgu."ukpeg"vjg"kpeqtrqtcvkqp"qh"qwt"Eqorcp{0""
Rtgxkqwu"Kuuwgu"Qvjgtykug"vjcp"hqt"Ecuj"
"Except as disclosed in “Ecrkvcn" Uvtwevwtg” on pagg" 8:." qwt" Eqorcp{" jcu" pqv" kuuwgf" cp{" Gswkv{" Ujctgu" hqt"eqpukfgtcvkqp"qvjgtykug"vjcp"hqt"ecuj0"""Ecrkvcn"Kuuwgu"kp"vjg"Rtgegfkpi"Vjtgg"[gctu""
"
Except as disclosed in “Ecrkvcn"Uvtwevwtg” on page 8:."qwt"Eqorcp{"jcu"pqv"ocfg"cp{"ecrkvcn"kuuwgu"fwtkpi"vjg"vjtgg"{gctu" koogfkcvgn{"rtgegfkpi" vjg"fcvg"qh" vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"Pqpg"qh"qwt"Uwdukfkctkgu"qt"Itqwr"Eqorcpkgu"jcxg"ocfg"cp{"ecrkvcn"kuuwgu"fwtkpi"vjg"vjtgg"{gctu"rtgegfkpi"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
Rgthqtocpeg"xku/ä/xku"Qdlgevu"
"Except as disclosed in “Ecrkvcn"Uvtwevwtg” on page 8:."qwt"Eqorcp{"jcu"pqv"wpfgtvcmgp"cp{"rwdnke."kpenwfkpi"cp{"tkijvu"kuuwgu"vq"vjg"rwdnke"kp"vjg"32"{gctu"koogfkcvgn{"rtgegfkpi"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
Rgthqtocpeg"xku/"ä/xku"Qdlgevu<"Ncuv"Kuuwg"qh"Uwdukfkctkgu."Itqwr"Eqorcpkgu"cpf"Cuuqekcvg"Eqorcpkgu""Pqpg"qh" qwt"Uwdukfkctkgu."Itqwr"Eqorcpkgu"qt"Cuuqekcvg"Eqorcpkgu"jcxg"ocfg" cp{"rwdnke." kpenwfkpi" tkijvu"kuuwgu"vq"vjg"rwdnke"kp"vjg"32"{gctu"koogfkcvgn{"rtgegfkpi"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""Qwvuvcpfkpi"Fgdgpvwtgu."Dqpfu"qt"Tgfggocdng"Rtghgtgpeg"Ujctgu"
"Qwt"Eqorcp{"fqgu"pqv"jcxg"cp{"qwvuvcpfkpi"fgdgpvwtgu."dqpfu"qt"tgfggocdng"rtghgtgpeg"ujctgu."cu"qp"vjg"fcvg"qh"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""
""
539""
"Rctvn{"Rckf/Wr"Ujctgu"
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QHHGT"RTQEGFWTG""
Cnn"Dkffgtu"ujqwnf"tgxkgy"vjg"Igpgtcn"Kphqtocvkqp"Fqewogpv"hqt"Kpxguvkpi"kp"Rwdnke"Kuuwgu"rtgrctgf"cpf"kuuwgf"kp"ceeqtfcpeg"ykvj"vjg"ektewnct"*EKT1EHF1FKN13414235+"fcvgf"Qevqdgt"45."4235"pqvkhkgf"d{"UGDK"cpf"wrfcvgf"rwtuwcpv"vq"vjg"ektewnct"*EKT1EHF1RQNKE[EGNN13314237+"fcvgf"Pqxgodgt"32."4237"cu"cogpfgf"cpf"oqfkhkgf"d{" vjg" ektewnct" *UGDK1JQ1EHF1FKN1EKT1R14238148+" fcvgf" Lcpwct{" 43." 4238." notified by SEBI (“Igpgtcn"Kphqtocvkqp"Fqewogpv”) included below under section titled “ –"Rctv"D"/"Igpgtcn"Kphqtocvkqp"Fqewogpv”, yjkej"jkijnkijvu"vjg"mg{"twngu."rtqeguugu"cpf"rtqegfwtgu"crrnkecdng"vq"rwdnke"kuuwgu"kp"igpgtcn"kp"ceeqtfcpeg"ykvj"vjg"rtqxkukqpu"qh"vjg"Eqorcpkgu"Cev."vjg"UETC."vjg"UETT"cpf"vjg"UGDK"KEFT"Tgiwncvkqpu0"Vjg"Igpgtcn"Kphqtocvkqp"Fqewogpv"jcu"dggp"wrfcvgf"vq"tghngev"cogpfogpvu"vq"vjg"UGDK"KEFT"Tgiwncvkqpu"cpf"rtqxkukqpu"qh"vjg"Eqorcpkgu"Cev"4235."vq"vjg"gzvgpv"crrnkecdng"vq"c"rwdnke"kuuwg"cpf"cp{"qvjgt"gpcevogpvu"cpf"tgiwncvkqpu0"Vjg"Igpgtcn" Kphqtocvkqp"Fqewogpv" ku"cnuq"cxckncdng"qp" vjg"ygdukvgu"qh" vjg"Uvqem"Gzejcpigu." vjg"IEDTNOu"cpf"DTNO0"Rngcug"tghgt"vq"vjg"tgngxcpv"rtqxkukqpu"qh"vjg"Igpgtcn"Kphqtocvkqp"Fqewogpv"yjkej"ctg"crrnkecdng"vq"vjg"Qhhgt0"Cnn"Fgukipcvgf"Kpvgtogfkctkgu"kp"tgncvkqp"vq"vjg"Qhhgt"ujqwnf"gpuwtg"eqornkcpeg"ykvj"vjg"UGDK"ektewnct"*EKT1EHF1RQNKE[EGNN13314237+"fcvgf"Pqxgodgt"32."4237."cu"cogpfgf"cpf"oqfkhkgf"d{" vjg"UGDK"ektewnct"*UGDK1JQ1EHF1FKN1EKT1R14238148+"fcvgf"Lcpwct{"43."4238." kp"tgncvkqp" vq"enctkhkecvkqpu"qp"uvtgconkpkpi" vjg"rtqeguu"qh"rwdnke"kuuwg"qh"gswkv{"ujctgu"cpf"eqpxgtvkdngu0"""Our Company, the Selling Shareholders and the Syndicate do not accept any responsibility for the completeness and accuracy of the information stated in this section and the General Information Document section and are not liable for any amendment, modification or change in the applicable law which may occur after the date of the Red Herring Prospectus. Bidders are advised to make their independent investigations and ensure that their Bids are submitted in accordance with applicable laws and do not exceed the investment limits or maximum number of Equity Shares that can be held by them under applicable law or as specified in the Red Herring Prospectus and the Prospectus.""
PART A "
"
Book Building Procedure"
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Rtqoqvgt"Itqwr"cpf"rgtuqpu"tgncvgf"vq"Rtqoqvgt1Rtqoqvgt"Itqwr""Vjg"IEDTNOu."DTNO"cpf"vjg"U{pfkecvg"Ogodgtu"ujcnn"pqv"dg"cnnqygf"vq"rwtejcug"vjg"Gswkv{"Ujctgu"kp"cp{"ocppgt."gzegrv"vqyctfu"hwnhknnkpi"vjgkt"wpfgtytkvkpi"qdnkicvkqpu0"Jqygxgt."vjg"tgurgevkxg"cuuqekcvgu"cpf"chhknkcvgu"qh"vjg"IEDTNOu."DTNO"cpf"vjg"U{pfkecvg"Ogodgtu"oc{"rwtejcug"Gswkv{"Ujctgu"kp"vjg"Qhhgt."gkvjgt"kp"vjg"SKD"Ecvgiqt{"qt"kp"vjg"Pqp/Kpuvkvwvkqpcn"Ecvgiqt{"cu"oc{"dg"crrnkecdng"vq"uwej"Dkffgtu."yjgtg"vjg"cnnqecvkqp"ku"qp"c"rtqrqtvkqpcvg"dcuku"cpf"uwej"uwduetkrvkqp"oc{"dg"qp"vjgkt"qyp"ceeqwpv"qt"qp"dgjcnh"qh"vjgkt"enkgpvu0"Cnn"ecvgiqtkgu"qh"kpxguvqtu."kpenwfkpi"tgurgevkxg"cuuqekcvgu"qt"chhknkcvgu"qh"vjg"IEDTNOu."DTNO"cpf"U{pfkecvg"Ogodgtu."ujcnn"dg"vtgcvgf"gswcnn{"hqt"vjg"rwtrqug"qh"cnnqecvkqp"vq"dg"ocfg"qp"c"rtqrqtvkqpcvg"dcuku0"
""
54;""
"Vjg"Rtqoqvgtu."Rtqoqvgt"Itqwr."IEDTNOu."DTNO"cpf"cp{"rgtuqpu"tgncvgf"vq"vjg"IEDTNOu"qt"DTNO"*gzegrv"Owvwcn"Hwpfu"urqpuqtgf"d{"gpvkvkgu" tgncvgf" vq" vjg"IEDTNOu"qt"DTNO+"ecppqv"crrn{" kp" vjg"Qhhgt"wpfgt" vjg"Cpejqt"Kpxguvqt"Rqtvkqp0""Dkfu"d{"Owvwcn"Hwpfu"""Ykvj"tgurgev"vq"Dkfu"d{"Owvwcn"Hwpfu."c"egtvkhkgf"eqr{"qh"vjgkt"UGDK"tgikuvtcvkqp"egtvkhkecvg"owuv"dg"nqfigf"ykvj"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"Hcknkpi"vjku."vjg"Eqorcp{"tgugtxgu"vjg"tkijv"vq"tglgev"cp{"Dkf"ykvjqwv"cuukipkpi"cp{"tgcuqp"vjgtghqtg0"Dkfu"ocfg"d{"cuugv"ocpcigogpv"eqorcpkgu"qt"ewuvqfkcpu"qh"Owvwcn"Hwpfu"ujcnn"urgekhkecnn{"uvcvg"pcogu"qh"vjg"eqpegtpgf"uejgogu"hqt"yjkej"uwej"Dkfu"ctg"ocfg0"""Kp"ecug"qh"c"Owvwcn"Hwpf."c"ugrctcvg"Dkf"oc{"dg"ocfg"kp"tgurgev"qh"gcej"uejgog"qh"c"Owvwcn"Hwpf"tgikuvgtgf"ykvj"vjg"UGDK"cpf"uwej"Dkfu"kp"tgurgev"qh"oqtg"vjcp"qpg"uejgog"qh"c"Owvwcn"Hwpf"yknn"pqv"dg"vtgcvgf"cu"ownvkrng"Dkfu."rtqxkfgf"vjcv"uwej"Dkfu"engctn{"kpfkecvg"vjg"uejgog"hqt"yjkej"vjg"Dkf"ku"uwdokvvgf0"""Pq" Owvwcn" Hwpf" uejgog" ujcnn" kpxguv"oqtg" vjcp" 32'" qh" kvu" pgv" cuugv" xcnwg" kp" gswkv{" ujctgu" qt" gswkv{" tgncvgf"kpuvtwogpvu"qh"cp{"ukping"eqorcp{"rtqxkfgf"vjcv"vjg"nkokv"qh"32'"ujcnn"pqv"dg"crrnkecdng"hqt"kpxguvogpvu"kp"ecug"qh"kpfgz"hwpfu"qt"ugevqt"qt"kpfwuvt{"urgekhke"uejgog0"Pq"Owvwcn"Hwpf"wpfgt"cnn"kvu"uejgogu"ujqwnf"qyp"oqtg"vjcp"10% of any company’s paid/wr"ujctg"ecrkvcn"ectt{kpi"xqvkpi"tkijvu0"""Dkfu"d{"Gnkikdng"PTKu"
"
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Dkfu"d{"HRK"*kpenwfkpi"HKKu+""Kp"vgtou"qh" vjg"Ugewtkvkgu"cpf"Gzejcpig"Board of India (Foreign Portfolio Investor) Regulations 2014 (“UGDK"
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""
552""
Dkfu" d{" UGDK" tgikuvgtgf" Xgpvwtg" Ecrkvcn" Hwpfu." Cnvgtpcvkxg" Kpxguvogpv" Hwpfu" cpf" Hqtgkip" Xgpvwtg"
Ecrkvcn"Kpxguvqtu""
"
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"Kp"ecug"qh"Dkfu"ocfg"d{"nkokvgf"nkcdknkv{"rctvpgtujkru"tgikuvgtgf"wpfgt"vjg"Nkokvgf"Nkcdknkv{"Rctvpgtujkr"Cev."422:."c"egtvkhkgf"eqr{"qh"egtvkhkecvg"qh"tgikuvtcvkqp"kuuwgf"wpfgt"vjg"Nkokvgf"Nkcdknkv{"Rctvpgtujkr"Cev."422:."owuv"dg"cvvcejgf"vq"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"Hcknkpi"vjku."qwt"Eqorcp{"tgugtxgu"vjg"tkijv"vq"tglgev"cp{"Dkf"ykvjqwv"cuukipkpi"cp{"tgcuqp"vjgtgqh0""Dkfu"d{"dcpmkpi"eqorcpkgu"
"Kp" ecug" qh" Dkfu"ocfg" d{" dcpmkpi" eqorcpkgu" tgikuvgtgf" ykvj" TDK." egtvkhkgf" eqrkgu" qh<" *k+" vjg" egtvkhkecvg" qh"registration issued by RBI, and (ii) the approval of such banking company’s investment committee are required vq"dg"cvvcejgf"vq"vjg"Dkf"ewo"Crrnkecvkqp"Hqto."hcknkpi"yjkej"qwt"Eqorcp{"tgugtxgu"vjg"tkijv"vq"tglgev"cp{"Dkf"ykvjqwv"cuukipkpi"cp{"tgcuqp"vjgtghqt0"""Vjg"kpxguvogpv"nkokv"hqt"dcpmkpi"eqorcpkgu"kp"pqp/hkpcpekcn"ugtxkegu"eqorcpkgu"cu"rgt"vjg"Dcpmkpi"Tgiwncvkqp"Act, 1949 (the “Dcpmkpi"Tgiwncvkqp"Cev”), and Master Direction –"Tgugtxg"Dcpm"qh"Kpfkc"*Hkpcpekcn"Ugtxkegu"rtqxkfgf"d{"Dcpmu+"Fktgevkqpu."4238."ku"32'"qh"vjg"rckf/wr"ujctg"ecrkvcn"qh"vjg"kpxguvgg"eqorcp{"qt"32'"qh"vjg"banks’ own paid/wr"ujctg"ecrkvcn"cpf"tgugtxgu."yjkejgxgt"ku"nguu0"Hwtvjgt."vjg"ciitgicvg"kpxguvogpv"d{"c"dcpmkpi"eqorcp{"kp"uwdukfkctkgu"cpf"qvjgt"gpvkvkgu"gpicigf"kp"hkpcpekcn"cpf"pqp/hkpcpekcn"ugtxkegu"eqorcp{"ecppqv"gzeggf"20% of the investee company’s paid/wr"ujctg"ecrkvcn"cpf"tgugtxgu0"C"dcpmkpi"eqorcp{"oc{"jqnf"wr"vq"52'"qh"vjg"rckf/wr"ujctg"ecrkvcn"qh"vjg"kpxguvgg"eqorcp{"ykvj"vjg"rtkqt"crrtqxcn"qh"vjg"TDK"rtqxkfgf"vjcv"vjg"kpxguvgg"eqorcp{"ku"gpicigf"kp"pqp/hkpcpekcn"cevkxkvkgu"kp"yjkej"dcpmkpi"eqorcpkgu"ctg"rgtokvvgf"vq"gpicig"wpfgt"vjg"Dcpmkpi"Tgiwncvkqp"Cev0""Dkfu"d{"UEUDu"
"SCSBs participating in the Offer are required to comply with the terms of the circulars dated September 13, 2012
and January 2, 2013 issued by the SEBI. Such SCSBs are required to ensure that for making applications on their
own account using ASBA, they should have a separate account in their own name with any other SEBI registered
SCSBs. Further, such account shall be used solely for the purpose of making application in public issues and clear
demarcated funds should be available in such account for such Bids.
"Dkfu"d{"kpuwtcpeg"eqorcpkgu"
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""
553""
Tgiwnctions, 2000 (the “KTFC" Kpxguvogpv" Tgiwncvkqpu”), based on investments in the equity shares of a eqorcp{." vjg" gpvktg" itqwr" qh" vjg" kpxguvgg" eqorcp{" cpf" vjg" kpfwuvt{" ugevqt" kp" yjkej" vjg" kpxguvgg" eqorcp{"qrgtcvgu0" Dkffgtu" ctg" cfxkugf" vq" tghgt" vq" vjg" KTFC" Kpxguvogpv" Tgiwncvkqpu" hqt" urgekhke" kpxguvogpv" nkokvu"crrnkecdng"vq"vjgo0"""Dkfu"wpfgt"Rqygt"qh"Cvvqtpg{"
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Kpuvtwevkqpu"vq"hknn"gcej"hkgnf"qh"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"ecp"dg"hqwpf"qp"vjg"tgxgtug"ukfg"qh"vjg"Dkf" ewo" Crrnkecvkqp" Hqto0" Urgekhke" kpuvtwevkqpu" hqt" hknnkpi" xctkqwu" hkgnfu" qh" vjg" Tgukfgpv" Dkf" ewo"Crrnkecvkqp"Hqto"cpf"Pqp/Tgukfgpv"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"ucorngu"ctg"rtqxkfgf"dgnqy0"
Vjg"ucorngu"qh"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"hqt"tgukfgpv"Dkffgtu"cpf"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"hqt"pqp/tgukfgpv"Dkffgtu"ctg"tgrtqfwegf"dgnqy<"
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""
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565""
Crrnkecvkqp" Hqto"–"Hqt"Pqp"–"Tgukfgpvu"
"
"
60303 HKGNF" PWODGT" 3<" PCOG" CPF" EQPVCEV" FGVCKNU" QH" VJG" UQNG1HKTUV"
DKFFGT1CRRNKECPV"
""
"
566""
*c+ Dkffgtu1Crrnkecpvu"ujqwnf"gpuwtg"vjcv"vjg"pcog"rtqxkfgf"kp"vjku"hkgnf"ku"gzcevn{"vjg"ucog"cu"vjg"pcog"kp"yjkej"vjg"Fgrqukvqt{"Ceeqwpv"ku"jgnf0"
*d+ Ocpfcvqt{" Hkgnfu<" Dkffgtu1Crrnkecpvu" ujqwnf" pqvg" vjcv" vjg" pcog" cpf" cfftguu" hkgnfu" ctg"eqorwnuqt{" cpf" g/ockn" cpf1qt" vgngrjqpg" pwodgt1oqdkng" pwodgt" hkgnfu" ctg" qrvkqpcn0"Dkffgtu1Crrnkecpvu"ujqwnf"pqvg"vjcv"vjg"eqpvcev"fgvcknu"ogpvkqpgf"kp"vjg"Dkf/ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto"oc{"dg"wugf" vq"fkurcvej"eqoowpkecvkqpu*kpenwfkpi" ngvvgtu"pqvkh{kpi"vjg" wpdnqemkpi" qh" vjg" dcpm" ceeqwpvu" qh" Dkffgtu" *qvjgt" vjcp" Cpejqt" Kpxguvqtu+" kp" ecug" vjg"eqoowpkecvkqp"ugpv"vq"vjg"cfftguu"cxckncdng"ykvj"vjg"Fgrqukvqtkgu"ctg"tgvwtpgf"wpfgnkxgtgf"qt"ctg"pqv"cxckncdng0"Vjg"eqpvcev"fgvcknu"rtqxkfgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"oc{"dg"wugf"d{" vjg" Kuuwgt." Fgukipcvgf" Kpvgtogfkctkgu" cpf" vjg" Tgikuvtct" vq" vjg" Qhhgt" qpn{" hqt"eqttgurqpfgpeg*u+"tgncvgf"vq"cp"Qhhgt"cpf"hqt"pq"qvjgt"rwtrqugu0"
*e+ Lqkpv"Dkfu1Crrnkecvkqpu<"Kp"vjg"ecug"qh"Lqkpv"Dkfu1Crrnkecvkqpu."vjg"Dkfu"1Crrnkecvkqpu"ujqwnf"dg"ocfg" kp" vjg" pcog" qh" vjg" Dkffgt1Crrnkecpv" yjqug" pcog" crrgctu" hktuv" kp" vjg" Fgrqukvqt{"ceeqwpv0"Vjg"pcog"uq"gpvgtgf"ujqwnf"dg"vjg"ucog"cu"kv"crrgctu"kp"vjg"Fgrqukvqt{"tgeqtfu0"Vjg"ukipcvwtg"qh"qpn{" uwej" hktuv"Dkffgt1Crrnkecpv"yqwnf"dg" tgswktgf" kp" vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto"cpf"uwej"hktuv"Dkffgt1Crrnkecpv"yqwnf"dg"fggogf"vq"jcxg"ukipgf"qp"dgjcnh"qh"vjg"lqkpv"jqnfgtu0"Cnn"eqoowpkecvkqpu"oc{"dg"cfftguugf"vq"uwej"Dkffgt1Crrnkecpv"cpf"oc{"dg" fkurcvejgf" vq" jku" qt" jgt" cfftguu" cu"rgt" vjg" Fgoqitcrjke" Fgvcknu" tgegkxgf" htqo" vjg"Fgrqukvqtkgu0"
*f+ Korgtuqpcvkqp<"Cvvgpvkqp"qh"vjg"Dkffgtu1Crrnkecpvu"ku"urgekhkecnn{"ftcyp"vq"vjg"rtqxkukqpu"qh"uwd/ugevkqp"*3+"qh"Ugevkqp"5:"qh"vjg"Eqorcpkgu"Cev"4235"yjkej"ku"tgrtqfwegf"dgnqy<"
“Cp{"rgtuqp"yjq<"
*c+ ocmgu" qt" cdgvu" ocmkpi" qh" cp" crrnkecvkqp" kp" c" hkevkvkqwu" pcog" vq" c" eqorcp{" hqt"ceswktkpi."qt"uwduetkdkpi"hqt."kvu"ugewtkvkgu="qt"
*d+ ocmgu"qt"cdgvu"ocmkpi"qh"ownvkrng"crrnkecvkqpu"vq"c"eqorcp{"kp"fkhhgtgpv"pcogu"qt"kp"fkhhgtgpv"eqodkpcvkqpu"qh"jku"pcog"qt"uwtpcog"hqt"ceswktkpi"qt"uwduetkdkpi"hqt"kvu"ugewtkvkgu="qt"
*e+ qvjgtykug"kpfwegu"fktgevn{"qt"kpfktgevn{"c"eqorcp{"vq"cnnqv."qt"tgikuvgt"cp{"vtcpuhgt"qh."ugewtkvkgu"vq"jko."qt"vq"cp{"qvjgt"rgtuqp"kp"c"hkevkvkqwu"pcog."
ujcnn"dg"nkcdng"hqt"cevkqp"wpfgt"Ugevkqp"6690”"
Vjg"nkcdknkv{"rtguetkdgf"wpfgt"Ugevkqp"669"qh"vjg"Eqorcpkgu"Cev"4235"kpenwfgu"kortkuqpogpv"hqt"c"vgto"yjkej"ujcnn"pqv"dg"nguu"vjcp"ukz"oqpvju"gzvgpfkpi"wr"vq"32"{gctu"*rtqxkfgf"vjcv"yjgtg"vjg"htcwf"kpxqnxgu"rwdnke"kpvgtguv."uwej"vgto"ujcnn"pqv"dg"nguu"vjcp"vjtgg"{gctu+"cpf"hkpg"qh"cp"coqwpv"pqv" nguu" vjcp" vjg"coqwpv" kpxqnxgf" kp" vjg" htcwf."gzvgpfkpi"wr" vq" vjtgg" vkogu"qh" uwej"coqwpv0"
*g+ Pqokpcvkqp"Hceknkv{"vq"Dkffgt1Crrnkecpv<"Pqokpcvkqp"hceknkv{"ku"cxckncdng"kp"ceeqtfcpeg"ykvj"vjg"rtqxkukqpu"qh"Ugevkqp"94"qh" vjg"Eqorcpkgu"Cev"42350"Kp"ecug"qh"Cnnqvogpv"qh" vjg"Gswkv{"Ujctgu"kp"fgocvgtkcnk|gf"hqto."vjgtg"ku"pq"pggf"vq"ocmg"c"ugrctcvg"pqokpcvkqp"cu"vjg"pqokpcvkqp"tgikuvgtgf"ykvj"vjg"Fgrqukvqt{"oc{"rtgxckn0"Hqt"ejcpikpi"pqokpcvkqpu."vjg"Dkffgtu1Crrnkecpvu"ujqwnf"kphqto"vjgkt"tgurgevkxg"FR0"
60304 HKGNF"PWODGT"4<"RCP"QH"UQNG1HKTUV"DKFFGT1CRRNKECPV"
*c+ RCP" *qh" vjg" uqng1" hktuv" Dkffgt1Crrnkecpv+" rtqxkfgf" kp" vjg" Dkf" ewo" Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto"ujqwnf"dg"gzcevn{"vjg"ucog"cu"vjg"RCP"qh"vjg"rgtuqp*u+"kp"yjqug"pcog"the relevant beneficiary account is held as per the Depositories’ records."
*d+ RCP" ku" vjg" uqng" kfgpvkhkecvkqp" pwodgt" hqt" rctvkekrcpvu" vtcpucevkpi" kp" vjg" ugewtkvkgu"octmgv"kttgurgevkxg"qh"vjg"coqwpv"qh"vtcpucevkqp"gzegrv"hqt"Dkfu1Crrnkecvkqpu"qp"dgjcnh"qh"vjg"Egpvtcn"qt" Uvcvg" Iqxgtpogpv." Dkfu1Crrnkecvkqpu" d{" qhhkekcnu" crrqkpvgf" d{" vjg" eqwtvu" cpf"Bids/Applications by Bidders/Applicants residing in Sikkim (“PAN Exempted Bidders/Applicants”). Consequently, all Bidders/Applicants, other" vjcp" vjg" RCP" Gzgorvgf"
""
"
567""
Dkffgtu1Crrnkecpvu." ctg" tgswktgf" vq" fkuenqug" vjgkt" RCP" kp" vjg" Dkf" ewo" Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto."kttgurgevkxg"qh"vjg"Dkf1Crrnkecvkqp"Coqwpv0"C"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto"ykvjqwv"RCP."gzegrv"kp"ecug"qh"Gzgorvgf"Dkffgtu1Crrnkecpvu."ku"nkcdng"vq"dg"tglgevgf0"Dkfu1Crrnkecvkqpu"d{"vjg"Dkffgtu1Crrnkecpvu"yjqug"RCP"ku"pqv"cxckncdng"cu"rgt"vjg"Fgoqitcrjke"Fgvcknu"cxckncdng"kp"vjgkt"Fgrqukvqt{"tgeqtfu."ctg"nkcdng"vq"dg"tglgevgf0"
*e+ Vjg"gzgorvkqp"hqt"vjg"RCP"Gzgorvgf"Dkffgtu1Crrnkecpvu"ku"uwdlgev" vq"*c+"vjg"Fgoqitcrjke"Fgvcknu" tgegkxgf" htqo" vjg" tgurgevkxg" Fgrqukvqtkgu" eqphktokpi" vjg" gzgorvkqp" itcpvgf" vq" vjg"dgpghkekct{" qypgt" d{" c" uwkvcdng" fguetkrvkqp" kp" vjg" RCP" hkgnf" cpf" vjg" dgpghkekct{" ceeqwpv"remaining in “active status”; apf"*d+"kp"vjg"ecug"qh"tgukfgpvu"qh"Ukmmko."vjg"cfftguu"cu"rgt"vjg"Fgoqitcrjke"Fgvcknu"gxkfgpekpi"vjg"ucog0"
*f+ Dkf" ewo" Crrnkecvkqp" Hqtou1Crrnkecvkqp" Hqtou" yjkej" rtqxkfg" vjg"Igpgtcn" Kpfgz" Tgikuvgt"Pwodgt"kpuvgcf"qh"RCP"oc{"dg"tglgevgf0"
*g+ Dkfu1Crrnkecvkqpu"d{"Dkffers whose demat accounts have been ‘suspended for credit’ are liable vq" dg" tglgevgf" rwtuwcpv" vq" vjg" ektewnct" kuuwgf" d{" UGDK" qp" Lwn{" 4;." 4232." dgctkpi" pwodgt"CIR/MRD/DP/22/2010. Such accounts are classified as “Inactive demat accounts” and Fgoqitcrjke"Fgvcknu"ctg"pqv"rtqxkfgf"d{"fgrqukvqtkgu0"
60305 HKGNF"PWODGT"5<"DKFFGTU1CRRNKECPVU"FGRQUKVQT["CEEQWPV"FGVCKNU"
*c+ Dkffgtu1Crrnkecpvu"ujqwnf"gpuwtg"vjcv"FR"KF"cpf"vjg"Enkgpv"KF"ctg"eqttgevn{"hknngf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto0"Vjg"FR"KF"cpf"Enkgpv"KF"rtqxkfgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto"ujqwnf"ocvej"ykvj"vjg"FR"KF"cpf"Enkgpv"KF"cxckncdng"kp"vjg" Fgrqukvqt{" fcvcdcug." qvjgtykug." vjg" Dkf" ewo" Crrnkecvkqp" Hqto1Crrnkecvkqp" Hqto" ku"
nkcdng"vq"dg"tglgevgf0"
*d+ Dkffgtu1Crrnkecpvu" ujqwnf" gpuwtg" vjcv" vjg" dgpghkekct{" ceeqwpv" rtqxkfgf" kp" vjg" Dkf" ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto"ku"cevkxg0"
*e+ Dkffgtu1Crrnkecpvu"ujqwnf"pqvg"vjcv"qp"vjg"dcuku"qh"vjg"RCP."FR"KF"cpf"Enkgpv"KF"cu"rtqxkfgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto."vjg"Dkffgt1Crrnkecpv"oc{"dg"fggogf"vq"jcxg" cwvjqtk|gf" vjg" Fgrqukvqtkgu" vq" rtqxkfg" vq" vjg" Tgikuvtct" vq" vjg" Qhhgt." cp{" tgswguvgf"Fgoqitcrjke"Fgvcknu"qh"vjg"Dkffgt1Crrnkecpv"cu"cxckncdng"qp"vjg"tgeqtfu"qh"vjg"fgrqukvqtkgu0"Vjgug"Fgoqitcrjke"Fgvcknu"oc{"dg"wugf."coqpi"qvjgt"vjkpiu."hqt"cp{"eqttgurqpfgpeg*u+"tgncvgf"vq"cp"Qhhgt0""
*f+ Dkffgtu1Crrnkecpvu"ctg."cfxkugf"vq"wrfcvg"cp{"ejcpigu"vq"vjgkt"Fgoqitcrjke"Fgvcknu"cu"cxckncdng"kp"vjg"tgeqtfu"qh"vjg"Fgrqukvqt{"Rctvkekrcpv"vq"gpuwtg"ceewtce{"qh"tgeqtfu0"Cp{"fgnc{"tguwnvkpi"htqo"hcknwre to update the Demographic Details would be at the Bidders/Applicants’ sole risk."
60306 HKGNF"PWODGT"6<"DKF"QRVKQPU"
*c+ Rtkeg" qt" Hnqqt" Rtkeg" qt"Rtkeg" Dcpf."okpkowo" Dkf" Nqv" cpf" Fkueqwpv" *kh" crrnkecdng+"oc{"dg"fkuenqugf" kp" vjg"Rtqurgevwu1TJR"d{" vjg"Kuuwgt0"Vjg"Kuuwgt" ku" tgswktgf" vq"cppqwpeg" vjg"Hnqqt"Rtkeg"qt"Rtkeg"Dcpf."okpkowo"Dkf"Nqv"cpf"Fkueqwpv"*kh"crrnkecdng+"d{"yc{"qh"cp"cfxgtvkugogpv"kp"cv"ngcuv"qpg"Gpinkuj."qpg"Jkpfk"cpf"qpg"tgikqpcn"pgyurcrgt."ykvj"ykfg"ektewncvkqp."cv"ngcuv"hkxg"Yqtmkpi"Fc{u"dghqtg"Dkf1Qhhgt"Qrgpkpi"Fcvg"kp"ecug"qh"cp"KRQ."cpf"cv"ngcuv"qpg"Yqtmkpi"Fc{"dghqtg"Dkf1Qhhgt"Qrgpkpi"Fcvg"kp"ecug"qh"cp"HRQ0"
*d+ Vjg" Dkffgtu"oc{" Dkf" cv" qt" cdqxg" Hnqqt" Rtkeg" qt" ykvjkp" vjg" Rtkeg" Dcpf" hqt" KRQu" 1HRQu"wpfgtvcmgp"vjtqwij"vjg"Dqqm"Dwknfkpi"Rtqeguu0"Kp"vjg"ecug"qh"Cnvgtpcvg"Dqqm"Dwknfkpi"Rtqeguu"hqt"cp"HRQ."vjg"Dkffgtu"oc{"Dkf"cv"Hnqqt"Rtkeg"qt"cp{"rtkeg"cdqxg"vjg"Hnqqt"Rtkeg"*Hqt"hwtvjgt"fgvcknu"dkffgtu"oc{"tghgt"vq"*Ugevkqp"708"*g++"
*e+ Ewv/Qhh"Rtkeg<"Tgvckn"Kpfkxkfwcn"Kpxguvqtu"qt"Gornq{ggu"qt"Tgvckn"Kpfkxkfwcn"Ujctgjqnfgtu"ecp"Dkf"cv"vjg"Ewv/qhh"Rtkeg"kpfkecvkpi"vjgkt"citggogpv"vq"Dkf"hqt"cpf"rwtejcug"vjg"Gswkv{"Ujctgu"cv"vjg"Qhhgt"Rtkeg"cu"fgvgtokpgf"cv"vjg"gpf"qh"vjg"Dqqm"Dwknfkpi"Rtqeguu0"Dkffkpi"cv"vjg"Ewv/qhh"Rtkeg"ku"rtqjkdkvgf"hqt"SKDu"cpf"PKKu"cpf"uwej"Dkfu"htqo"SKDu"cpf"PKKu"oc{"dg"tglgevgf0"
*f+ Okpkowo"Crrnkecvkqp"Xcnwg"cpf"Dkf"Nqv<"Vjg"Kuuwgt"kp"eqpuwnvcvkqp"ykvj"vjg"DTNO"oc{"
""
"
568""
fgekfg" vjg" okpkowo" pwodgt" qh" Gswkv{" Ujctgu" hqt" gcej" Dkf" vq" gpuwtg" vjcv" vjg"okpkowo"crrnkecvkqp" xcnwg" ku" ykvjkp" vjg" tcpig" qh" Tu0" 32.222" vq" Tu037.2220"Vjg"okpkowo" Dkf" Nqv" ku"ceeqtfkpin{"fgvgtokpgf"d{"cp"Kuuwgt"qp"dcuku"qh"uwej"okpkowo"crrnkecvkqp"xcnwg0"
*g+ Cnnqvogpv<"Vjg"Cnnqvogpv"qh"urgekhkgf"ugewtkvkgu"vq"gcej"TKK"ujcnn"pqv"dg"nguu"vjcp"vjg"okpkowo"Dkf"Nqv."uwdlgev"vq"cxckncdknkv{"qh"ujctgu"kp"vjg"TKK"ecvgiqt{."cpf"vjg"tgockpkpi"cxckncdng"ujctgu."kh"cp{."ujcnn"dg"Cnnqvvgf"qp"c"rtqrqtvkqpcvg"dcuku0"Hqt"fgvcknu"qh"vjg"Dkf"Nqv."Dkffgtu"oc{"vq"vjg"TJR1Rtqurgevwu"qt"vjg"cfxgtvkugogpv"tgictfkpi"vjg"Rtkeg"Dcpf"rwdnkujgf"d{"vjg"Kuuwgt0"
6030603 Oczkowo"cpf"Okpkowo"Dkf"Uk|g"
*c+ Vjg"Dkffgt"oc{"Dkf"hqt"vjg"fguktgf"pwodgt"qh"Gswkv{"Ujctgu"cv"c"urgekhke"rtkeg0"Dkfu"d{"Tgvckn"Kpfkxkfwcn"Kpxguvqtu."Gornq{ggu"cpf"Tgvckn"Kpfkxkfwcn"Ujctgjqnfgtu"owuv"dg"hqt"uwej"pwodgt"qh" ujctgu" uq"cu" vq"gpuwtg" vjcv" vjg"Dkf"Coqwpv" nguu"Fkueqwpv" *cu"crrnkecdng+."rc{cdng"d{" vjg"Dkffgt"fqgu"pqv"gzeggf"Tu0"422.2220"
Kp"ecug"vjg"Dkf"Coqwpv"gzeggfu"Tu0"422.222"fwg"vq"tgxkukqp"qh"vjg"Dkf"qt"cp{"qvjgt"tgcuqp."vjg"Dkf"oc{"dg"eqpukfgtgf"hqt"cnnqecvkqp"wpfgt"vjg"Pqp/Kpuvkvwvkqpcn"Ecvgiqt{."ykvj"kv"pqv"dgkpi"gnkikdng"hqt"Fkueqwpv"vjgp"uwej"Dkf"oc{"dg"tglgevgf"kh"kv"ku"cv"vjg"Ewv/qhh"Rtkeg0"
*d+ Hqt"PTKu."c"Dkf"Coqwpv"qh"wr"vq"Tu0"422.222"oc{"dg"eqpukfgtgf"wpfgt"vjg"Tgvckn"Ecvgiqt{"hqt"vjg"rwtrqugu"qh"cnnqecvkqp"cpf"c"Dkf"Coqwpv"gzeggfkpi"₹ 422.222"oc{"dg"eqpukfgtgf"wpfgt"vjg"Pqp/Kpuvkvwvkqpcn"Ecvgiqt{"hqt"vjg"rwtrqugu"qh"cnnqecvkqp0"
*e+ Dkfu"d{"SKDu"cpf"PKKu"owuv"dg"hqt"uwej"okpkowo"pwodgt"qh"ujctgu"uwej"vjcv"vjg"Dkf"Coqwpv"gzeggfu"Tu0"422.222"cpf"kp"ownvkrngu"qh"uwej"pwodgt"qh"Gswkv{"Ujctgu"vjgtgchvgt."cu"oc{"dg"fkuenqugf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"vjg"TJR1Rtqurgevwu."qt"cu"cfxgtvkugf"d{"vjg"Kuuwgt."cu"vjg"ecug"oc{"dg0"Pqp/Institutional Bidders and QIBs are not allowed to Bid at ‘Cut/off Price’."
*f+ TKK"oc{" tgxkug"qt"ykvjftcy" vjgkt"dkfu"wntil Bid/Offer Closing Date. QIBs and NII’s cannot ykvjftcy"qt"nqygt"vjgkt"Dkfu"*kp"vgtou"qh"swcpvkv{"qh"Gswkv{"Ujctgu"qt"vjg"Dkf"Coqwpv+"cv"cp{"uvcig"chvgt"dkffkpi"cpf"ctg"tgswktgf"vq"rc{"vjg"Dkf"Coqwpv"wrqp"uwdokuukqp"qh"vjg"Dkf0"
*g+ Kp"ecug"vjg"Dkf"Coqwpv"tgfwegu"vq"Tu0"422.222"qt"nguu"fwg"vq"c"tgxkukqp"qh"vjg"Rtkeg"Dcpf."Dkfu"d{"vjg"Pqp/Kpuvkvwvkqpcn"Dkffgtu"yjq"ctg"gnkikdng"hqt"cnnqecvkqp"kp"vjg"Tgvckn"Ecvgiqt{"yqwnf"dg"eqpukfgtgf"hqt"cnnqecvkqp"wpfgt"vjg"Tgvckn"Ecvgiqt{0"
*h+ Hqt"Cpejqt"Kpxguvqtu."kh"crrnkecdng."vjg"Dkf"Coqwpv"ujcnn"dg"ngcuv"Tu032"etqtgu0"Qpg/vjktf"qh"vjg"Cpejqt"Kpxguvqt"Rqtvkqp"ujcnn"dg"tgugtxgf"hqt"fqoguvke"Owvwcn"Hwpfu."uwdlgev"vq"xcnkf"Dkfu"dgkpi"tgegkxgf"htqo"fqoguvke"Owvwcn"Hwpfu"cv"qt"cdqxg"vjg"rtkeg"cv"yjkej"cnnqecvkqp"ku"dgkpi"fqpg"vq"qvjgt"Cpejqt"Kpxguvqtu0"Dkfu"d{"xctkqwu"uejgogu"qh"c"Owvwcn"Hwpf"ujcnn"dg"ciitgicvgf"vq" fgvgtokpg" vjg" Dkf" Coqwpv0" C" Dkf" ecppqv" dg" uwdokvvgf" hqt"oqtg" vjcp" 82'" qh" vjg"SKD"Ecvgiqt{"wpfgt"vjg"Cpejqt"Kpxguvqt"Rqtvkqp0"Cpejqt"Kpxguvqtu"ecppqv"ykvjftcy"vjgkt"Dkfu"qt"nqygt"vjg"uk|g"qh"vjgkt"Dkfu"*kp"vgtou"qh"swcpvkv{"qh"Gswkv{"Ujctgu"qt"vjg"Dkf"Coqwpv+"cv"cp{"uvcig"chvgt"vjg"Cpejqt"Kpxguvqt"Dkf1Qhhgt"Rgtkqf"cpf"ctg"tgswktgf"vq"rc{"vjg"Dkf"Coqwpv"cv"vjg"vkog"qh"uwdokuukqp"qh"vjg"Dkf0"Kp"ecug"vjg"Cpejqt"Kpxguvqt"Qhhgt"Rtkeg"ku"nqygt"vjcp"vjg"Qhhgt"Rtkeg."vjg"dcncpeg"coqwpv"ujcnn"dg"rc{cdng"cu"rgt"vjg"rc{/kp/fcvg"ogpvkqpgf"kp"vjg"tgxkugf"ECP0"Kp"ecug"vjg"Qhhgt"Rtkeg"ku"nqygt"vjcp"vjg"Cpejqt"Kpxguvqt"Qhhgt"Rtkeg."vjg"coqwpv"kp"gzeguu"qh"vjg"Qhhgt"Rtkeg"rckf"d{"vjg"Cpejqt"Kpxguvqtu"ujcnn"pqv"dg"tghwpfgf"vq"vjgo0"
*i+ C"Dkf"ecppqv"dg"uwdokvvgf"hqt"oqtg"vjcp"vjg"Qhhgt"uk|g0"
*j+ Vjg"oczkowo"Dkf"d{"cp{"Dkffgt"kpenwfkpi"SKD"Dkffgt"ujqwnf"pqv"gzeggf"vjg"kpxguvogpv"nkokvu"rtguetkdgf"hqt"vjgo"wpfgt"vjg"crrnkecdng"ncyu0"
*k+ Vjg"rtkeg"cpf"swcpvkv{"qrvkqpu"uwdokvvgf"d{"vjg"Dkffgt"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"oc{"dg"vtgcvgf"cu"qrvkqpcn"dkfu"htqo"vjg"Dkffgt"cpf"oc{"pqv"dg"ewowncvgf0"Chvgt"fgvgtokpcvkqp"qh"vjg"Qhhgt"Rtkeg."vjg"pwodgt"qh"Gswkv{"Ujctgu"Dkf"hqt"d{"c"Dkffgt"cv"qt"cdqxg"vjg"Qhhgt"Rtkeg"oc{"dg"eqpukfgtgf"hqt"Cnnqvogpv"cpf"vjg"tguv"qh"vjg"Dkf*u+."kttgurgevkxg"qh"vjg"Dkf"Coqwpv"oc{"cwvqocvkecnn{" dgeqog" kpxcnkf0" Vjku" ku" pqv" crrnkecdng" kp" ecug" qh" HRQu" wpfgtvcmgp" vjtqwij"Cnvgtpcvg"Dqqm"Dwknfkpi"Rtqeguu"*Hqt"fgvcknu"qh"Dkffgtu"oc{"tghgt"vq"*Ugevkqp"708"*g++0"
""
"
569""
6030604 Ownvkrng"Dkfu"
*c+ Dkffgt"ujqwnf"uwdokv"qpn{"qpg"Dkf"ewo"Crrnkecvkqp"Hqto0"Dkffgt"ujcnn"jcxg"vjg"qrvkqp"vq"ocmg"c"oczkowo"qh"Dkfu"cv"vjtgg"fkhhgtgpv"rtkeg"ngxgnu"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"uwej"qrvkqpu"ctg"pqv"eqpukfgtgf"cu"ownvkrng"Dkfu0"
Uwdokuukqp"qh"c"ugeqpf"Dkf"ewo"Crrnkecvkqp"Hqto"vq"gkvjgt"vjg"ucog"qt"vq"cpqvjgt"Fgukipcvgf"Kpvgtogfkct{"cpf"fwrnkecvg"eqrkgu"qh"Dkf"ewo"Crrnkecvkqp"Hqtou"dgctkpi"vjg"ucog"crrnkecvkqp"pwodgt"ujcnn"dg"vtgcvgf"cu"ownvkrng"Dkfu"cpf"ctg"nkcdng"vq"dg"tglgevgf0"
*d+ Dkffgtu"ctg"tgswguvgf"vq"pqvg"vjg"hqnnqykpi"rtqegfwtgu"oc{"dg"hqnnqygf"d{"vjg"Tgikuvtct"vq"vjg"Qhhgt"vq"fgvgev"ownvkrng"Dkfu<"
k0 Cnn"Dkfu"oc{"dg"ejgemgf"hqt"eqooqp"RCP"cu"rgt"vjg"tgeqtfu"qh"vjg"Fgrqukvqt{0"Hqt"Dkffgtu"qvjgt"vjcp"Owvwcn"Hwpfu"cpf"HKK"uwd/ceeqwpvu."Dkfu"dgctkpi"vjg"ucog"RCP"oc{"dg"vtgcvgf"cu"ownvkrng"Dkfu"d{"c"Dkffgt"cpf"oc{"dg"tglgevgf0"
kk0 Hqt"Dkfu"htqo"Owvwcn"Hwpfu"cpf"HKK"uwd/ceeqwpvu."uwdokvvgf"wpfgt"vjg"ucog"RCP."cu"ygnn"cu"Dkfu"qp"dgjcnh"qh"vjg"RCP"Gzgorvgf"Dkffgtu."vjg"Dkf"ewo"Crrnkecvkqp"Hqtou"oc{"dg"ejgemgf"hqt"eqooqp"FR"KF"cpf"Enkgpv"KF0"Uwej"Dkfu"yjkej"jcxg"vjg"ucog"FR"KF"cpf"Enkgpv"KF"oc{"dg"vtgcvgf"cu"ownvkrng"Dkfu"cpf"ctg"nkcdng"vq"dg"tglgevgf0"
*e+ Vjg"hqnnqykpi"Dkfu"oc{"pqv"dg"vtgcvgf"cu"ownvkrng"Dkfu<"
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kk0 Ugrctcvg"Dkfu"d{"Owvwcn"Hwpfu"kp"tgurgev"qh"oqtg"vjcp"qpg"uejgog"qh"vjg"Owvwcn"Hwpf"rtqxkfgf"vjcv"vjg"Dkfu"engctn{"kpfkecvg"vjg"uejgog"hqt"yjkej"vjg"Dkf"jcu"dggp"ocfg0"
kkk0 Dkfu" d{" Owvwcn" Hwpfu." cpf" uwd/ceeqwpvu" qh" HKKu" *qt" HKKu" cpf" kvu" uwd/ceeqwpvu+"uwdokvvgf"ykvj"vjg"ucog"RCP"dwv"ykvj"fkhhgtgpv"dgpghkekct{"ceeqwpv"pwodgtu."Enkgpv"KFu"cpf"FR"KFu0"
kx0 Dkfu"d{"Cpejqt"Kpxguvqtu"wpfgt"vjg"Cpejqt"Kpxguvqt"Rqtvkqp"cpf"vjg"SKD"Ecvgiqt{0"
60307 HKGNF"PWODGT"7"<"ECVGIQT["QH"DKFFGTU"
*c+ Vjg" ecvgiqtkgu" qh" Dkffgtu" kfgpvkhkgf" cu"rgt" vjg" UGDK" KEFT" Tgiwncvkqpu" hqt" vjg"rwtrqug" qh"Dkffkpi."cnnqecvkqp"cpf"cnnqvogpv"kp"vjg"Qhhgt"ctg"TKKu."PKKu"cpf"SKDu0"
*d+ Wr"vq"82'"qh"vjg"SKD"Ecvgiqt{"ecp"dg"cnnqecvgf"d{"vjg"Kuuwgt."qp"c"fkuetgvkqpct{"dcuku"uwdlgev"vq"vjg"etkvgtkc"qh"okpkowo"cpf"oczkowo"pwodgt"qh"Cpejqt"Kpxguvqtu"dcugf"qp"cnnqecvkqp"uk|g."vq" vjg" Cpejqt" Kpxguvqtu." kp" ceeqtfcpeg" ykvj" UGDK" KEFT" Tgiwncvkqpu." ykvj" qpg/vjktf" qh" vjg"Cpejqt" Kpxguvqt" Rqtvkqp" tgugtxgf" hqt" fqoguvke" Owvwcn" Hwpfu" uwdlgev" vq" xcnkf" Dkfu" dgkpi"tgegkxgf" cv" qt" cdqxg" vjg" Qhhgt" Rtkeg0" Hqt" fgvcknu" tgictfkpi" cnnqecvkqp" vq" Cpejqt" Kpxguvqtu."Dkffgtu"oc{"tghgt"vq"vjg"TJR1Rtqurgevwu0"
*e+ Cp"Kuuwgt"ecp"ocmg"tgugtxcvkqp"hqt"egtvckp"ecvgiqtkgu"qh"Dkffgtu1Crrnkecpvu"cu"rgtokvvgf"wpfgt"vjg" UGDK" KEFT" Tgiwncvkqpu0" Hqt" fgvcknu" qh" cp{" tgugtxcvkqpu" ocfg" kp" vjg" Qhhgt."Dkffgtu1Crrnkecpvu"oc{"tghgt"vq"vjg"TJR1Rtqurgevwu0"
*f+ Vjg"UGDK"KEFT"Tgiwncvkqpu."urgekh{"vjg"cnnqecvkqp"qt"Cnnqvogpv"vjcv"oc{"dg"ocfg"vq"xctkqwu"ecvgiqtkgu"qh"Dkffgtu"kp"cp"Qhhgt"fgrgpfkpi"wrqp"eqornkcpeg"ykvj"vjg"gnkikdknkv{"eqpfkvkqpu0"Fgvcknu"rgtvckpkpi"vq"cnnqecvkqp"ctg"fkuenqugf"qp"tgxgtug"ukfg"qh"vjg"Tgxkukqp"Hqto0"Hqt"Qhhgt"urgekhke"fgvcknu"kp"tgncvkqp"vq"cnnqecvkqp"Dkffgt1Crrnkecpv"oc{"tghgt"vq"vjg"TJR1Rtqurgevwu0"
60308 HKGNF"PWODGT"8<"KPXGUVQT"UVCVWU"
*c+ Gcej"Dkffgt1Crrnkecpv"ujqwnf"ejgem"yjgvjgt"kv" ku"gnkikdng"vq"crrn{"wpfgt"crrnkecdng"ncy"cpf"gpuwtg"vjcv"cp{"rtqurgevkxg"Cnnqvogpv"vq"kv"kp"vjg"Qhhgt"ku"kp"eqornkcpeg"ykvj"vjg"kpxguvogpv"tguvtkevkqpu"wpfgt"crrnkecdng"ncy0"
""
"
56:""
*d+ Egtvckp" ecvgiqtkgu" qh" Dkffgtu1Crrnkecpvu." uwej" cu" PTKu." HKKu." HRKu" cpf" HXEKu"oc{" pqv" dg"cnnqygf"vq"Dkf1Crrn{"kp"vjg"Qhhgt"qt"jqnf"Gswkv{"Ujctgu"gzeggfkpi"egtvckp"nkokvu"urgekhkgf"wpfgt"crrnkecdng" ncy0" Dkffgtu1Crrnkecpvu" ctg" tgswguvgf" vq" tghgt" vq" vjg" TJR1Rtqurgevwu" hqt"oqtg"fgvcknu0"
*e+ Dkffgtu1Crrnkecpvu"ujqwnf"ejgem"yjgvjgt"vjg{"ctg"gnkikdng"vq"crrn{"qp"pqp/tgrcvtkcvkqp"dcuku"qt"tgrcvtkcvkqp"dcuku"cpf"ujqwnf"ceeqtfkpin{"rtqxkfg"vjg"kpxguvqt"uvcvwu0"Fgvcknu"tgictfkpi"kpxguvqt"uvcvwu" ctg" fkhhgtgpv" kp" vjg" Tgukfgpv" Dkf" ewo" Crrnkecvkqp" Hqto" cpf" Pqp/Tgukfgpv" Dkf" ewo"Crrnkecvkqp"Hqto0"
*f+ Dkffgtu1Crrnkecpvu"ujqwnf"gpuwtg"vjcv"vjgkt"kpxguvqt"uvcvwu"ku"wrfcvgf"kp"vjg"Fgrqukvqt{"tgeqtfu0"
60309 HKGNF"PWODGT"9<"RC[OGPV"FGVCKNU"
*c+ Vjg" hwnn" Dkf" Coqwpv" *pgv" qh" cp{" Fkueqwpv." cu" crrnkecdng+" ujcnn" dg" dnqemgf" dcugf" qp" vjg"cwvjqtk|cvkqp"rtqxkfgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"Kh"vjg"Fkueqwpv"ku"crrnkecdng"kp"vjg"Qhhgt."vjg"TKKu"ujqwnf"kpfkecvg"vjg"hwnn"Dkf"Coqwpv"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"vjg"rc{ogpv" ujcnn" dg" dnqemgf" hqt" vjg" Dkf" Coqwpv" pgv" qh" Fkueqwpv0" Qpn{" kp" ecugu" yjgtg" vjg"TJR1Rtqurgevwu"kpfkecvgu"vjcv"rctv"rc{ogpv"oc{"dg"ocfg."uwej"cp"qrvkqp"ecp"dg"gzgtekugf"d{"vjg"Dkffgt0"Kp"ecug"qh"Dkffgtu"urgekh{kpi"oqtg"vjcp"qpg"Dkf"Qrvkqp"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto."vjg"vqvcn"Dkf"Coqwpv"oc{"dg"ecnewncvgf"hqt"vjg"jkijguv"qh"vjtgg"qrvkqpu"cv"pgv"rtkeg."k0g0"Dkf"rtkeg"nguu"Fkueqwpv"qhhgtgf."kh"cp{0"
*d+ TKKu"yjq"Dkf"cv"Ewv/qhh"rtkeg"ujcnn"dg"dnqemgf"qp"vjg"Ecr"Rtkeg0"
*e+ Cnn" Dkffgtu" *gzegrv" Cpejqt" Kpxguvqtu+" ecp"rctvkekrcvg" kp" vjg" Qhhgt" qpn{" vjtqwij" vjg" CUDC"ogejcpkuo0""
*f+ Dkf"Coqwpv"ecppqv"dg"rckf" kp"ecuj."ejgswg."fgocpf"ftchv." vjtqwij"oqpg{"qtfgt"qt" vjtqwij"rquvcn"qtfgt0"
60309030 Kpuvtwevkqpu" hqt"Cpejqt" Kpxguvqtu<""
*c+ Cpejqt" Kpxguvqtu"oc{"uwdokv" vjgkt"Dkfu"ykvj"c"Dqqm"Twppkpi" Ngcf"Ocpcigt0""
*d+ Rc{ogpvu"ujqwnf"dg"ocfg"gkvjgt"d{"TVIU"qt"PGHV0"""*e+ Vjg"Cpejqt"Guetqy"Dcpm*u+"ujcnn"ockpvckp"vjg"oqpkgu"kp"vjg"Cpejqt"Guetqy"Ceeqwpv"hqt"cpf"
qp"dgjcnh"qh"vjg"Cpejqt"Kpxguvqtu"wpvkn"vjg"Fgukipcvgf"Fcvg0""
60309040 Rc{ogpv"kpuvtwevkqpu"hqt"Dkffgtu"*qvjgt" vjcp"Cpejqt" Kpxguvqtu+""*c+ Dkffgtu"oc{"uwdokv"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"gkvjgt"
k0 kp" gngevtqpke" oqfg" vjtqwij" vjg" kpvgtpgv" dcpmkpi" hceknkv{" qhhgtgf" d{" cp" UEUD"cwvjqtk|kpi"dnqemkpi"qh"hwpfu"vjcv"ctg"cxckncdng"kp"vjg"CUDC"ceeqwpv"urgekhkgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto."qt"
kk0 kp"rj{ukecn"oqfg" vq"cp{"Fgukipcvgf" Kpvgtogfkct{0""
*d+ Dkffgtu"owuv"urgekh{"vjg"Dcpm"Ceeqwpv"pwodgt"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"Vjg"Dkf"ewo"Crrnkecvkqp" Hqto" uwdokvvgf"d{"c"Dkffgt" cpf"yjkej" ku" ceeqorcpkgf"d{"ecuj." fgocpf"ftchv."ejgswg."oqpg{"qtfgt."rquvcn"qtfgt"qt"cp{"oqfg"qh"rc{ogpv"qvjgt"vjcp"dnqemgf"coqwpvu"kp"vjg"CUDC"Ceeqwpv"ockpvckpgf"ykvj"cp"UEUD."oc{"pqv"dg"ceegrvgf0"
*e+ Dkffgtu"ujqwnf"gpuwtg"vjcv"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"ku"cnuq"ukipgf"d{"vjg"CUDC"Ceeqwpv"jqnfgt*u+"kh"vjg"Dkffgt"ku"pqv"vjg"CUDC"Ceeqwpv"jqnfgt="
*f+ Dkffgtu" ujcnn" pqvg" vjcv" hqt" vjg" rwtrqug" qh" dnqemkpi" hwpfu" wpfgt" CUDC" hceknkv{" engctn{"fgoctecvgf"hwpfu"ujcnn"dg"cxckncdng"kp"vjg"ceeqwpv0"
""
"
56;""
*g+ Htqo"qpg"CUDC"Ceeqwpv."c"oczkowo"qh"hkxg"Dkfu"ewo"Crrnkecvkqp"Hqtou"ecp"dg"uwdokvvgf0"
*h+ Dkffgtu"ujqwnf"uwdokv"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"qpn{"cv"vjg"Dkffkpi"Egpvgtu."k0g0"vq"vjg"tgurgevkxg"ogodgt" qh" vjg" U{pfkecvg" cv" vjg" Urgekhkgf" Nqecvkqpu." vjg" UEUDu." vjg" Tgikuvgtgf"Dtqmgt" cv" vjg" Dtqmgt" Egpvtgu." vjg" TVC" cv" vjg" Fgukipcvgf" TVC" Nqecvkqpu" qt" EFR" cv" vjg"Fgukipcvgf"EFR"Nqecvkqpu0""
*i+ Dkffgtu"dkffkpi" vjtqwij"Fgukipcvgf" Kpvgtogfkctkgu" qvjgt" vjcp" c"UEUD." ujqwnf"pqvg" vjcv"CUDC"Hqtou" uwdokvvgf" vq"uwej"Fgukipcvgf"Kpvgtogfkct{"oc{"pqv"dg"ceegrvgf." kh" vjg"UEUD"yjgtg"vjg"CUDC"Ceeqwpv."cu"urgekhkgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto."ku"ockpvckpgf"jcu"pqv"pcogf"cv"ngcuv"qpg"dtcpej"cv"vjcv"nqecvkqp"hqt"uwej"Fgukipcvgf"Kpvgtogfkct{."vq"fgrqukv"CUDC"Hqtou0"
*j+ Dkffgtu"dkffkpi"fktgevn{" vjtqwij" vjg"UEUDu" ujqwnf" gpuwtg" vjcv" vjg"Dkf"ewo" Crrnkecvkqp"Hqto"ku"uwdokvvgf"vq"c"Fgukipcvgf"Dtcpej"qh"c"UEUD"yjgtg"vjg"CUDC"Ceeqwpv"ku"ockpvckpgf0"
*k+ Wrqp"tgegkrv"qh"vjg"Dkf"ewo"Crrnkecvkqp"Hqto."vjg"Fgukipcvgf"Dtcpej"qh"vjg"UEUD"oc{"xgtkh{"kh"uwhhkekgpv"hwpfu"gswcn"vq"vjg"Dkf"Coqwpv"ctg"cxckncdng"kp"vjg"CUDC"Ceeqwpv."cu"ogpvkqpgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"
*l+ Kh" uwhhkekgpv" hwpfu" ctg" cxckncdng" kp" vjg" CUDC" Ceeqwpv." vjg" UEUD"oc{" dnqem" cp" coqwpv"gswkxcngpv"vq"vjg"Dkf"Coqwpv"ogpvkqpgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"hqt"crrnkecvkqp"fktgevn{"uwdokvvgf"vq"UEUD"d{"kpxguvqt."oc{"gpvgt"gcej"Dkf"qrvkqp"kpvq"vjg"gngevtqpke"dkffkpi"u{uvgo"cu"c"ugrctcvg"Dkf0"
*m+ Kh"uwhhkekgpv"hwpfu"ctg"pqv"cxckncdng"kp"vjg"CUDC"Ceeqwpv."vjg"Fgukipcvgf"Dtcpej"qh"vjg"UEUD"oc{" pqv" wrnqcf" uwej" Dkfu" qp" vjg" Uvqem" Gzejcpig" rncvhqto" cpf" uwej" dkfu" ctg" nkcdng" vq" dg"tglgevgf0"
*n+ Wrqp"uwdokuukqp"qh"c"eqorngvgf"Dkf"ewo"Crrnkecvkqp"Hqto"gcej"Dkffgt"oc{"dg"fggogf"vq"jcxg"citggf"vq"dnqem"vjg"gpvktg"Dkf"Coqwpv"cpf"cwvjqtk|gf"vjg"Fgukipcvgf"Dtcpej"qh"vjg"UEUD"vq"dnqem" vjg"Dkf"Coqwpv" urgekhkgf" kp" vjg"Dkf"ewo"Crrnkecvkqp"Hqto" kp" vjg"CUDC"Ceeqwpv"ockpvckpgf"ykvj"vjg"UEUDu0"
*o+ Vjg"Dkf"Coqwpv"oc{"tgockp"dnqemgf"kp"vjg"chqtguckf"CUDC"Ceeqwpv"wpvkn"hkpcnkucvkqp"qh"vjg"Dcuku" qh" Cnnqvogpv" cpf" eqpugswgpv" vtcpuhgt" qh" vjg" Dkf" Coqwpv" cickpuv" vjg" Cnnqvvgf" Gswkv{"Ujctgu" vq" vjg" Rwdnke" QhhgtCeeqwpv." qt" wpvkn" ykvjftcycn" qt" hcknwtg" qh" vjg" Kuuwg." qt" wpvkn"ykvjftcycn"qt"tglgevkqp"qh"vjg"Dkf."cu"vjg"ecug"oc{"dg0"
*p+ UEUDu"dkffkpi"kp"vjg"Qhhgt"owuv"crrn{"vjtqwij"cp"Ceeqwpv"ockpvckpgf"ykvj"cp{"qvjgt"UEUD="gnug"vjgkt"Dkfu"ctg"nkcdng"vq"dg"tglgevgf0"
603090303 Wpdnqemkpi"qh"CUDC"Ceeqwpv"
*c+ Qpeg"vjg"Dcuku"qh"Cnnqvogpv"ku"crrtqxgf"d{"vjg"Fgukipcvgf"Uvqem"Gzejcpig."vjg"Tgikuvtct"vq"vjg"Qhhgt"oc{"rtqxkfg"vjg"hqnnqykpi"fgvcknu"vq"vjg"eqpvtqnnkpi"dtcpejgu"qh"gcej"UEUD."cnqpi"ykvj"kpuvtwevkqpu"vq"wpdnqem"vjg"tgngxcpv"dcpm"ceeqwpvu"cpf"hqt"uweeguuhwn"crrnkecvkqpu"vtcpuhgt"vjg"tgswkukvg"oqpg{"vq"vjg"Rwdnke"Qhhgt"Ceeqwpv"fgukipcvgf"hqt"vjku"rwtrqug."ykvjkp"vjg"urgekhkgf"vkognkpgu<"*k+"vjg"pwodgt"qh"Gswkv{"Ujctgu"vq"dg"Cnnqvvgf"cickpuv"gcej"Dkf."*kk+"vjg"coqwpv"vq"dg"vtcpuhgttgf"htqo"vjg"tgngxcpv"dcpm"ceeqwpv"vq"vjg"Rwdnke"Qhhgt"Ceeqwpv."hqt"gcej"Dkf."*kkk+"vjg"fcvg"d{"yjkej"hwpfu"tghgttgf"vq"kp"*kk+"cdqxg"oc{"dg"vtcpuhgttgf"vq"vjg"Rwdnke"Qhhgt"Ceeqwpv."*kx+"vjg"coqwpv"vq"dg"wpdnqemgf."kh"cp{"kp"ecug"qh"rctvkcn"cnnqvogpvu"cpf"*x+"fgvcknu"qh"tglgevgf"CUDC"Dkfu."kh"cp{."cnqpi"ykvj"tgcuqpu"hqt"tglgevkqp"cpf"fgvcknu"qh"ykvjftcyp"qt"wpuweeguuhwn"Dkfu."kh"cp{."vq"gpcdng"vjg"UEUDu"vq"wpdnqem"vjg"tgurgevkxg"dcpm"ceeqwpvu0"
*d+ Qp"vjg"dcuku"qh"kpuvtwevkqpu"htqo"vjg"Tgikuvtct"vq"vjg"Kuuwg."vjg"UEUDu"oc{"vtcpuhgt"vjg"tgswkukvg"coqwpv"cickpuv"gcej"uweeguuhwn"Dkffgt"vq"vjg"Rwdnke"Qhhgt"Ceeqwpv"cpf"oc{"wpdnqem"vjg"gzeguu"coqwpv."kh"cp{."kp"vjg"CUDC"Ceeqwpv0"
*e+ Kp"vjg"gxgpv"qh"ykvjftcycn"qt"tglgevkqp"qh"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"hqt"wpuweeguuhwn"Dkfu."vjg"Tgikuvtct"vq"vjg"Qhhgt"oc{"ikxg"kpuvtwevkqpu"vq"vjg"UEUD"vq"wpdnqem"vjg"Dkf"Coqwpv"kp"vjg"tgngxcpv"CUDC"Ceeqwpv"ykvjkp"ukz"Yqtmkpi"Fc{u"qh"vjg"Dkf1Qhhgt"Enqukpi"Fcvg0"
""
"
572""
6030904 Fkueqwpv"*kh"crrnkecdng+"
*c+ Vjg"Fkueqwpv"ku"uvcvgf"kp"cduqnwvg"twrgg"vgtou0"
*d+ Dkffgtu"crrn{kpi"wpfgt"TKK"ecvgiqt{."Tgvckn" Kpfkxkfwcn"Ujctgjqnfgt"cpf"gornq{ggu"ctg" qpn{"gnkikdng" hqt" fkueqwpv0" Hqt" Fkueqwpvu" qhhgtgf" kp" vjg" Kuuwg." Dkffgtu" oc{" tghgt" vq" vjg"TJR1Rtqurgevwu0"
*e+ Vjg"Dkffgtu"gpvkvngf"vq"vjg"crrnkecdng"Fkueqwpv"kp"vjg"Qhhgt"oc{"dnqem"hqt"cp"coqwpv"k0g0"vjg"Dkf"Coqwpv"nguu"Fkueqwpv"*kh"crrnkecdng+0"
Dkffgt"oc{"pqvg"vjcv"kp"ecug"vjg"pgv"coqwpv"dnqemgf"*rquv"Fkueqwpv+"ku"oqtg"vjcp"vyq"ncmj"Twrggu."vjg"Dkffkpi" u{uvgo" cwvqocvkecnn{" eqpukfgtu" uwej" crrnkecvkqpu" hqt" cnnqecvkqp" wpfgt" Pqp/Kpuvkvwvkqpcn"Ecvgiqt{0"Vjgug"crrnkecvkqpu"ctg"pgkvjgt"gnkikdng"hqt"Fkueqwpv"pqt"hcnn"wpfgt"TKK"ecvgiqt{0"
6030: HKGNF"PWODGT":<"UKIPCVWTGU"CPF"QVJGT"CWVJQTKUCVKQPU"
*c+ Qpn{"vjg"Hktuv"Dkffgt1Crrnkecpv"ku"tgswktgf"vq"ukip"vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto0"Dkffgtu1Crrnkecpvu"ujqwnf"gpuwtg"vjcv"ukipcvwtgu"ctg"kp"qpg"qh"vjg"ncpiwcigu"urgekhkgf"kp"vjg"Gkijvj"Uejgfwng"vq"vjg"Eqpuvkvwvkqp"qh"Kpfkc0"
*d+ Kh"vjg"CUDC"Ceeqwpv"ku"jgnf"d{"c"rgtuqp"qt"rgtuqpu"qvjgt"vjcp"vjg"Dkffgt1Crrnkecpv."vjgp"vjg"Ukipcvwtg"qh"vjg"CUDC"Ceeqwpv"jqnfgt*u+"ku"cnuq"tgswktgf0"
*e+ Vjg"ukipcvwtg"jcu"vq"dg"eqttgevn{"chhkzgf"kp"vjg"cwvjqtk|cvkqp1wpfgtvcmkpi"dqz"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto."qt"cp"cwvjqtkucvkqp"jcu"vq"dg"rtqxkfgf"vq"vjg"UEUD"xkc"vjg"gngevtqpke"oqfg." hqt" dnqemkpi" hwpfu" kp" vjg" CUDC" Ceeqwpv" gswkxcngpv" vq" vjg" Dkf" Coqwpv"ogpvkqpgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto0"
*f+ Dkffgtu1Crrnkecpvu" owuv" pqvg" vjcv" Dkf" ewo" Crrnkecvkqp" Hqto1Crrnkecvkqp" Hqto" ykvjqwv"ukipcvwtg"qh"Dkffgt1Crrnkecpv"cpf"1qt"CUDC"Ceeqwpv"jqnfgt"ku"nkcdng"vq"dg"tglgevgf0"
6030; CEMPQYNGFIGOGPV"CPF"HWVWTG"EQOOWPKECVKQP"
*c+ Dkffgtu" ujqwnf" gpuwtg" vjcv" vjg{" tgegkxg" vjg" Cempqyngfiogpv" unkr" qt" vjg" cempqyngfigogpv"pwodgt"fwn{"ukipgf"cpf"uvcorgf"d{"c"Fgukipcvgf"Kpvgtogfkct{."cu"crrnkecdng."hqt"uwdokuukqp"qh"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"
*d+ Cnn" eqoowpkecvkqpu" kp" eqppgevkqp" ykvj" Dkfu1Crrnkecvkqpu" ocfg" kp" vjg" Qhhgt" ujqwnf" dg"cfftguugf"cu"wpfgt<"
k0 Kp" ecug" qh"swgtkgu" tgncvgf" vq" Cnnqvogpv." pqp/tgegkrv" qh" Cnnqvogpv" Cfxkeg." etgfkv" qh"Cnnqvvgf"Gswkv{"Ujctgu."wpdnqemkpi"qh" hwpfu." vjg"Dkffgtu1Crrnkecpvu" ujqwnf"eqpvcev"vjg"Tgikuvtct"vq"vjg"Kuuwg0"
kk0 Kp" ecug" qh" Dkfu" uwdokvvgf" vq" vjg" Fgukipcvgf" Dtcpejgu" qh" vjg" UEUDu." vjg"Dkffgtu1Crrnkecpvu"ujqwnf"eqpvcev"vjg"tgngxcpv"Fgukipcvgf"Dtcpej"qh"vjg"UEUD0"
kkk0 Kp" ecug" qh" swgtkgu" tgncvkpi" vq" wrnqcfkpi" qh" U{pfkecvg" CUDC" Dkfu." vjg"Dkffgtu1Crrnkecpvu"ujqwnf"eqpvcev"vjg"tgngxcpv"U{pfkecvg"Ogodgt0"
kx0 Kp" ecug" qh"swgtkgu" tgncvkpi" vq" wrnqcfkpi" qh" Dkfu"d{" c" Fgukipcvgf" Kpvgtogfkct{." vjg"Dkffgtu1Crrnkecpvu"ujqwnf"eqpvcev"vjg"tgngxcpv"Fgukipcvgf"Kpvgtogfkct{0"
x0 Dkffgt1Crrnkecpv"oc{" eqpvcev" vjg" Eqorcp{" Ugetgvct{" cpf" Eqornkcpeg" Qhhkegt" qt"DTNO*u+"kp"ecug"qh"cp{"qvjgt"eqornckpvu"kp"tgncvkqp"vq"vjg"Kuuwg0"
*e+ Vjg"hqnnqykpi"fgvcknu"*cu"crrnkecdng+"ujqwnf"dg"swqvgf"yjkng"ocmkpi"cp{"swgtkgu"–"
k0 hwnn"pcog"qh"vjg"uqng"qt"Hktuv"Dkffgt1Crrnkecpv."Dkf"ewo"Crrnkecvkqp"Hqto"pwodgt."Applicants’/Bidders’ DP ID, Client ID, PAN, number of Equity Shares applied for, coqwpv"rckf"qp"crrnkecvkqp0"
""
"
573""
kk0 pcog"cpf"cfftguu"qh"vjg"Fgukipcvgf"Kpvgtogfkct{."yjgtg"vjg"Dkf"ycu"uwdokvvgf"qt"
kkk0 Dkfu."CUDC"Ceeqwpv"pwodgt"kp"yjkej"vjg"coqwpv"gswkxcngpv"vq"vjg"Dkf"Coqwpv"ycu"dnqemgf0"
Hqt" hwtvjgt" fgvcknu." Dkffgt1Crrnkecpv"oc{" tghgt" vq" vjg" TJR1Rtqurgevwu" cpf" vjg" Dkf"ewo" Crrnkecvkqp"Hqto0"
604 KPUVTWEVKQPU"HQT"HKNKPI"VJG"TGXKUKQP"HQTO"
*c+ Fwtkpi"vjg"Dkf1Qhhgt"Rgtkqf."cp{"Dkffgt1Crrnkecpv"*qvjgt"vjcp"SKDu"cpf"PKKu."yjq"ecp"qpn{"tgxkug"vjgkt"dkf"wryctfu+"yjq"jcu"tgikuvgtgf"jku"qt"jgt"kpvgtguv"kp"vjg"Gswkv{"Ujctgu"cv"c"rctvkewnct"rtkeg"ngxgn"ku"htgg"vq"tgxkug"jku"qt"jgt"Dkf"ykvjkp"vjg"Rtkeg"Dcpf"wukpi"vjg"Tgxkukqp"Hqto."yjkej"ku"c"rctv"qh"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"
*d+ TKK"oc{"tgxkug"vjgkt"Dkfu"qt"ykvjftcy"vjgkt"dkfu"wpvkn"Dkf1Qhhgt"Enqukpi"fcvg0"
*e+ Tgxkukqpu"ecp"dg"ocfg"kp"dqvj"vjg"fguktgf"pwodgt"qh"Gswkv{"Ujctgu"cpf"vjg"Dkf"Coqwpv"d{"wukpi"vjg"Tgxkukqp"Hqto0"
*f+ Vjg"Dkffgt1Crrnkecpv"ecp"ocmg"vjku"tgxkukqp"cp{"pwodgt"qh"vkogu"fwtkpi" vjg"Dkf1"Qhhgt"Rgtkqf0"Jqygxgt."hqt"cp{"tgxkukqp*u+"kp"vjg"Dkf."vjg"Dkffgtu1Crrnkecpvu"yknn"jcxg"vq"wug"vjg"ugtxkegu"qh"vjg"ucog"Fgukipcvgf"Kpvgtogfkct{" vjtqwij" yjkej" uwej" Dkffgt1Crrnkecpv" jcf" rncegf" vjg" qtkikpcn" Dkf0" Dkffgtu1Crrnkecpvu" ctg"cfxkugf"vq"tgvckp"eqrkgu"qh"vjg"dncpm"Tgxkukqp"Hqto"cpf"vjg"Dkf*u+"owuv"dg"ocfg"qpn{"kp"uwej"Tgxkukqp"Hqto"qt"eqrkgu"vjgtgqh0"
"
""
"
574""
C"ucorng"tgxkukqp"hqto"ku"tgrtqfwegf"dgnqy<"
"
Kpuvtwevkqpu"vq"hknn"gcej"hkgnf"qh"vjg"Tgxkukqp"Hqto"ecp"dg"hqwpf"qp"vjg"tgxgtug"ukfg"qh"vjg"Tgxkukqp"Hqto0"Qvjgt" vjcp" kpuvtwevkqpu" cntgcf{" jkijnkijvgf" cv"rctcitcrj"603" cdqxg."rqkpv"ykug" kpuvtwevkqpu" tgictfkpi"hknnkpi"wr"xctkqwu"hkgnfu"qh"vjg"Tgxkukqp"Hqto"ctg"rtqxkfgf"dgnqy<"
""
"
575""
"
60403 HKGNFU" 3." 4" CPF" 5<" PCOG" CPF" EQPVCEV" FGVCKNU" QH" UQNG1HKTUV"
DKFFGT1CRRNKECPV." RCP" QH" UQNG1HKTUV" DKFFGT1CRRNKECPV" (" FGRQUKVQT["
CEEQWPV"FGVCKNU"QH"VJG"DKFFGT1CRRNKECPV"
Dkffgtu1Crrnkecpvu"ujqwnf"tghgt"vq"kpuvtwevkqpu"eqpvckpgf"kp"rctcitcrju"60303."60304"cpf"603050"
60404 FIELD 4 & 5: BID OPTIONS REVISION ‘FROM’ AND ‘TO’"
*c+ Crctv"htqo"ogpvkqpkpi" vjg"tgxkugf"qrvkqpu" kp"vjg"Tgxkukqp"Hqto." vjg"Dkffgt1Crrnkecpv"owuv"cnuq"ogpvkqp"vjg"fgvcknu"qh"cnn"vjg"dkf"qrvkqpu"ikxgp"kp"jku"qt"jgt"Dkf"ewo"Crrnkecvkqp"Hqto"qt"gctnkgt"Tgxkukqp"Hqto0"Hqt"gzcorng."kh"c"Dkffgt1Crrnkecpv"jcu"Dkf"hqt"vjtgg"qrvkqpu"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"uwej"Dkffgt1Crrnkecpv"ku"ejcpikpi"qpn{"qpg"qh"vjg"qrvkqpu"kp"vjg"Tgxkukqp"Hqto."vjg"Dkffgt1Crrnkecpv"owuv"uvknn"hknn"vjg"fgvcknu"qh"vjg"qvjgt"vyq"qrvkqpu"vjcv"ctg"pqv" dgkpi" tgxkugf." kp" vjg" Tgxkukqp" Hqto0" Vjg" Fgukipcvgf" Kpfvgtogfkctkgu"oc{" pqv" ceegrv"kpeqorngvg"qt"kpceewtcvg"Tgxkukqp"Hqtou0"
*d+ Kp"ecug"qh"tgxkukqp."Dkf"qrvkqpu"ujqwnf"dg"rtqxkfgf"d{"Dkffgtu1Crrnkecpvu"kp"vjg"ucog"qtfgt"cu"rtqxkfgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"
*e+ Kp" ecug" qh" tgxkukqp" qh" Dkfu" d{" TKKu." Gornq{ggu" cpf" Tgvckn" Kpfkxkfwcn" Ujctgjqnfgtu." uwej"Dkffgtu1Crrnkecpvu"ujqwnf"gpuwtg"vjcv"vjg"Dkf"Coqwpv."uwdugswgpv"vq"tgxkukqp."fqgu"pqv"gzeggf"Tu0"422.2220"Kp"ecug"vjg"Dkf"Coqwpv"gzeggfu"Tu0"422.222"fwg"vq"tgxkukqp"qh"vjg"Dkf"qt"hqt"cp{"qvjgt"tgcuqp."vjg"Dkf"oc{"dg"eqpukfgtgf."uwdlgev" vq"gnkikdknkv{."hqt"cnnqecvkqp"wpfgt"vjg"Pqp/Kpuvkvwvkqpcn" Ecvgiqt{." pqv"dgkpi" gnkikdng" hqt" Fkueqwpv" *kh" crrnkecdng+" cpf" uwej" Dkf"oc{"dg"tglgevgf"kh"kv"ku"cv"vjg"Ewv/qhh"Rtkeg0"Vjg"Ewv/qhh"Rtkeg"qrvkqp"ku"ikxgp"qpn{"vq"vjg"TKKu."Gornq{ggu"cpf"Tgvckn"Kpfkxkfwcn"Ujctgjqnfgtu"kpfkecvkpi"vjgkt"citggogpv"vq"Dkf"hqt"cpf"rwtejcug"vjg"Gswkv{"Ujctgu"cv"vjg"Qhhgt"Rtkeg"cu"fgvgtokpgf"cv"vjg"gpf"qh"vjg"Dqqm"Dwknfkpi"Rtqeguu0"
*f+ Kp" ecug" vjg" vqvcn" coqwpv" *k0g0." qtkikpcn" Dkf" Coqwpv" rnwu" cffkvkqpcn" rc{ogpv+" gzeggfu" Tu0"422.222."vjg"Dkf"yknn"dg"eqpukfgtgf"hqt"cnnqecvkqp"wpfgt"vjg"Pqp/Kpuvkvwvkqpcn"Rqtvkqp"kp"vgtou"qh"vjg"TJR1Rtqurgevwu0"Kh."jqygxgt."vjg"TKK"fqgu"pqv"gkvjgt"tgxkug"vjg"Dkf"qt"ocmg"cffkvkqpcn"rc{ogpv" cpf" vjg" Qhhgt" Rtkeg" ku" jkijgt" vjcp" vjg"ecr" qh" vjg" Rtkeg"Dcpf"rtkqt" vq" tgxkukqp." vjg"pwodgt"qh"Gswkv{"Ujctgu"Dkf"hqt"ujcnn"dg"cflwuvgf"fqypyctfu"hqt"vjg"rwtrqug"qh"cnnqecvkqp."uwej"vjcv"pq"cffkvkqpcn"rc{ogpv"yqwnf"dg"tgswktgf"htqo"vjg"TKK"cpf"vjg"TKK"ku"fggogf"vq"jcxg"crrtqxgf"uwej"tgxkugf"Dkf"cv"Ewv/qhh"Rtkeg0"
*g+ Kp" ecug" qh" c" fqypyctf" tgxkukqp" kp" vjg" Rtkeg" Dcpf." TKKu" cpf" Dkfu"d{" Gornq{ggu" wpfgt" vjg"Tgugtxcvkqp"Rqtvkqp."yjq"jcxg"dkf"cv"vjg"Ewv/qhh"Rtkeg"eqwnf"gkvjgt"tgxkug"vjgkt"Dkf"qt"vjg"gzeguu"coqwpv"rckf"cv"vjg"vkog"qh"Dkffkpi"yknn"dg"wpdnqemgf0"
60405 HKGNF"8<"RC[OGPV"FGVCKNU"
*c+ Cnn"Dkffgtu1Crrnkecpvu"ctg"tgswktgf"vq"cwvjqtk|g"dnqemkpi"qh"vjg"hwnn"Dkf"Coqwpv"*nguu"Fkueqwpv"*kh"crrnkecdng+"cv"vjg"vkog"qh"uwdokvvkpi"vjg"Dkf"Tgxkukqp"Hqto0"Kp"ecug"qh"Dkffgtu1Crrnkecpvu"urgekh{kpi"oqtg"vjcp"qpg"Dkf"Qrvkqp"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto."vjg"vqvcn"Dkf"Coqwpv"oc{"dg"ecnewncvgf"hqt"vjg"jkijguv"qh"vjtgg"qrvkqpu"cv"pgv"rtkeg."k0g0"Dkf"rtkeg"nguu"fkueqwpv"qhhgtgf."kh"cp{0"
*d+ Dkffgt1Crrnkecpv."Dkffgt1Crrnkecpv"oc{"Qhhgt"kpuvtwevkqpu"vq"dnqem"vjg"tgxkugf"coqwpv"dcugf"qp"ecr"qh"vjg"tgxkugf"Rtkeg"Dcpf"*cflwuvgf"hqt"vjg"Fkueqwpv"*kh"crrnkecdng+"kp"vjg"CUDC"Ceeqwpv."vq" vjg" ucog" Fgukipcvgf" Kpvgtogfkct{" vjtqwij" yjqo" uwej" Dkffgt1Crrnkecpv" jcf" rncegf" vjg"qtkikpcn"Dkf"vq"gpcdng"vjg"tgngxcpv"UEUD"vq"dnqem"vjg"cffkvkqpcn"Dkf"Coqwpv."kh"cp{0"
*e+ Kp"ecug"vjg"vqvcn"coqwpv"*k0g0."qtkikpcn"Dkf"Coqwpv"nguu"fkueqwpv"*kh"crrnkecdng+"rnwu"cffkvkqpcn"rc{ogpv+" gzeggfu" Tu0" 422.222." vjg" Dkf"oc{" dg" eqpukfgtgf" hqt" cnnqecvkqp" wpfgt" vjg" Pqp/Kpuvkvwvkqpcn"Ecvgiqt{"kp"vgtou"qh"vjg"TJR1Rtqurgevwu0"Kh."jqygxgt."vjg"Dkffgt1Crrnkecpv"fqgu"pqv"gkvjgt"tgxkug"vjg"Dkf"qt"ocmg"cffkvkqpcn"rc{ogpv"cpf"vjg"Qhhgt"Rtkeg"ku"jkijgt"vjcp"vjg"ecr"qh" vjg" Rtkeg" Dcpf" rtkqt" vq" tgxkukqp." vjg" pwodgt" qh" Gswkv{" Ujctgu" Dkf" hqt"oc{" dg" cflwuvgf"fqypyctfu"hqt"vjg"rwtrqug"qh"Cnnqvogpv."uwej"vjcv"pq"cffkvkqpcn"coqwpv"ku"tgswktgf"hqt"dnqemkpi"Dkffgt1Crrnkecpv"cpf"vjg"Dkffgt1Crrnkecpv"ku"fggogf"vq"jcxg"crrtqxgf"uwej"tgxkugf"Dkf"cv"vjg"
""
"
576""
Ewv/qhh"Rtkeg0"
*f+ Kp" ecug" qh" c" fqypyctf" tgxkukqp" kp" vjg" Rtkeg" Dcpf." TKKu." Gornq{ggu" cpf" Tgvckn" Kpfkxkfwcn"Ujctgjqnfgtu." yjq" jcxg"dkf" cv" vjg"Ewv/qhh" Rtkeg."eqwnf" gkvjgt" tgxkug" vjgkt"Dkf"qt" vjg" gzeguu"coqwpv"rckf"cv"vjg"vkog"qh"Dkffkpi"oc{"dg"wpdnqemgf0"
60406 HKGNFU"9"<"UKIPCVWTGU"CPF"CEMPQYNGFIGOGPVU"
Dkffgtu1Crrnkecpvu"oc{"tghgt"vq"kpuvtwevkqpu"eqpvckpgf"cv"rctcitcrju"6030:"cpf"6030;"hqt"vjku"rwtrqug0"
605 KPUVTWEVKQPU" HQT" HKNKPI" CRRNKECVKQP" HQTO" KP" KUUWGU" OCFG" QVJGT" VJCP"
VJTQWIJ"VJG"DQQM"DWKNFKPI"RTQEGUU"*HKZGF"RTKEG"KUUWG+"
60503 HKGNFU" 3." 4." 5" PCOG" CPF" EQPVCEV" FGVCKNU" QH" UQNG1HKTUV" DKFFGT1CRRNKECPV."
RCP"QH"UQNG1HKTUV"DKFFGT1CRRNKECPV"("FGRQUKVQT["CEEQWPV"FGVCKNU"QH"VJG"
DKFFGT1CRRNKECPV"
Crrnkecpvu"ujqwnf"tghgt"vq"kpuvtwevkqpu"eqpvckpgf"kp"rctcitcrju"60303."60304"cpf"603050"
60504 HKGNF"6<"RTKEG."CRRNKECVKQP"SWCPVKV["("COQWPV"
*c+ Vjg" Kuuwgt"oc{"ogpvkqp"Rtkeg"qt"Rtkeg"Dcpf" kp" vjg"ftchv"Rtqurgevwu0"Jqygxgt"c"rtqurgevwu"tgikuvgtgf"ykvj"TqE"eqpvckpu"qpg"rtkeg"qt"eqwrqp"tcvg"*cu"crrnkecdng+0"
*d+ Okpkowo"Crrnkecvkqp"Xcnwg"cpf"Dkf"Nqv<"Vjg"Kuuwgt"kp"eqpuwnvcvkqp"ykvj"vjg"Ngcf"Ocpcigt"vq"vjg"Qhhgt"*NO+"oc{"fgekfg"vjg"okpkowo"pwodgt"qh"Gswkv{"Ujctgu"hqt"gcej"Dkf"vq"gpuwtg"vjcv" vjg"okpkowo" crrnkecvkqp" xcnwg" ku" ykvjkp" vjg" tcpig" qh" Tu0" 32.222" vq" Tu037.2220" Vjg"okpkowo"Nqv"uk|g"ku"ceeqtfkpin{"fgvgtokpgf"d{"cp"Kuuwgt"qp"dcuku"qh"uwej"okpkowo"crrnkecvkqp"xcnwg0"
*e+ Crrnkecvkqpu"d{"TKKu."Gornq{ggu"cpf"Tgvckn"Kpfkxkfwcn"Ujctgjqnfgtu."owuv"dg"hqt"uwej"pwodgt"qh"ujctgu"uq"cu"vq"gpuwtg"vjcv"vjg"crrnkecvkqp"coqwpv"rc{cdng"fqgu"pqv"gzeggf"Tu0"422.2220"
*f+ Crrnkecvkqpu"d{" qvjgt" kpxguvqtu"owuv"dg" hqt" uwej"okpkowo" pwodgt" qh" ujctgu" uwej" vjcv" vjg"crrnkecvkqp" coqwpv" gzeggfu" Tu0" 422.222" cpf" kp"ownvkrngu" qh" uwej" pwodgt" qh" Gswkv{" Ujctgu"vjgtgchvgt."cu"oc{"dg"fkuenqugf"kp"vjg"crrnkecvkqp"hqto"cpf"vjg"Rtqurgevwu."qt"cu"cfxgtvkugf"d{"vjg"Kuuwgt."cu"vjg"ecug"oc{"dg0"
*g+ Cp"crrnkecvkqp"ecppqv"dg"uwdokvvgf"hqt"oqtg"vjcp"vjg"Qhhgt"uk|g0"
*h+ Vjg"oczkowo"crrnkecvkqp"d{"cp{"Crrnkecpv"ujqwnf"pqv"gzeggf"vjg"kpxguvogpv"nkokvu"rtguetkdgf"hqt"vjgo"wpfgt"vjg"crrnkecdng"ncyu0"
*i+ Ownvkrng"Crrnkecvkqpu<"Cp"Crrnkecpv"ujqwnf"uwdokv"qpn{"qpg"Crrnkecvkqp"Hqto0"Uwdokuukqp"qh" c" ugeqpf" Crrnkecvkqp" Hqto" vq" gkvjgt" vjg" ucog" qt" qvjgt" UEUD" cpf" fwrnkecvg" eqrkgu" qh"Crrnkecvkqp"Hqtou"dgctkpi"vjg"ucog"crrnkecvkqp"pwodgt"ujcnn"dg"vtgcvgf"cu"ownvkrng"crrnkecvkqpu"cpf"ctg"nkcdng"vq"dg"tglgevgf0"
*j+ Crrnkecpvu"ctg"tgswguvgf"vq"pqvg"vjg"hqnnqykpi"rtqegfwtgu"oc{"dg"hqnnqygf"d{"vjg"Tgikuvtct"vq"vjg"Qhhgt"vq"fgvgev"ownvkrng"crrnkecvkqpu<"
k0 Cnn" crrnkecvkqpu" oc{" dg" ejgemgf" hqt" eqooqp" RCP" cu" rgt" vjg" tgeqtfu" qh" vjg"Fgrqukvqt{0" Hqt" Crrnkecpvu" qvjgt" vjcp" Owvwcn" Hwpfu" cpf" HKK" uwd/ceeqwpvu." Dkfu"dgctkpi"vjg"ucog"RCP"oc{"dg"vtgcvgf"cu"ownvkrng"crrnkecvkqpu"d{"c"Dkffgt1Crrnkecpv"cpf"oc{"dg"tglgevgf0"
kk0 Hqt"crrnkecvkqpu"htqo"Owvwcn"Hwpfu"cpf"HKK"uwd/ceeqwpvu."uwdokvvgf"wpfgt"vjg"ucog"RCP." cu" ygnn" cu"Dkfu"qp"dgjcnh" qh" vjg"RCP"Gzgorvgf"Crrnkecpvu." vjg" Crrnkecvkqp"Hqtou"oc{"dg"ejgemgf"hqt"eqooqp"FR"KF"cpf"Enkgpv"KF0"Kp"cp{"uwej"crrnkecvkqpu"yjkej" jcxg" vjg" ucog" FR" KF" cpf" Enkgpv" KF." vjgug" oc{" dg" vtgcvgf" cu" ownvkrng"crrnkecvkqpu"cpf"oc{"dg"tglgevgf0"
""
"
577""
*k+ Vjg"hqnnqykpi"crrnkecvkqpu"oc{"pqv"dg"vtgcvgf"cu"ownvkrng"Dkfu<"
k0 Crrnkecvkqpu"d{"Tgugtxgf"Ecvgiqtkgu"kp"vjgkt"tgurgevkxg"tgugtxcvkqp"rqtvkqp"cu"ygnn"cu"vjcv"ocfg"d{"vjgo"kp"vjg"Pgv"Qhhgt"rqtvkqp"kp"rwdnke"ecvgiqt{0"
kk0 Ugrctcvg" crrnkecvkqpu"d{" Owvwcn" Hwpfu" kp" tgurgev" qh"oqtg" vjcp" qpg" uejgog" qh" vjg"Owvwcn"Hwpf"rtqxkfgf"vjcv"vjg"Crrnkecvkqpu"engctn{"kpfkecvg"vjg"uejgog"hqt"yjkej"vjg"Dkf"jcu"dggp"ocfg0"
kkk0 Crrnkecvkqpu"d{"Owvwcn"Hwpfu."cpf"uwd/ceeqwpvu"qh"HKKu"*qt"HKKu"cpf"kvu"uwd/ceeqwpvu+"uwdokvvgf"ykvj"vjg"ucog"RCP"dwv"ykvj"fkhhgtgpv"dgpghkekct{"ceeqwpv"pwodgtu."Enkgpv"KFu"cpf"FR"KFu0"
60505 HKGNF"PWODGT"7"<"ECVGIQT["QH"CRRNKECPVU"
*c+ Vjg"ecvgiqtkgu"qh"crrnkecpvu"kfgpvkhkgf"cu"rgt"vjg"UGDK"KEFT"Tgiwncvkqpu"hqt"vjg"rwtrqug"qh"Bidding, allocation and Allotment in the Offer are RIIs, individual applicants other than RII’s cpf"qvjgt" kpxguvqtu" *kpenwfkpi"eqtrqtcvg"dqfkgu"qt" kpuvkvwvkqpu." kttgurgevkxg"qh" vjg"pwodgt"qh"urgekhkgf"ugewtkvkgu"crrnkgf"hqt+0"
*d+ Cp"Kuuwgt"ecp"ocmg"tgugtxcvkqp"hqt"egtvckp"ecvgiqtkgu"qh"Crrnkecpvu"rgtokvvgf"wpfgt"vjg"UGDK"KEFT"Tgiwncvkqpu0"Hqt"fgvcknu"qh"cp{"tgugtxcvkqpu"ocfg"kp"vjg"Qhhgt."crrnkecpvu"oc{"tghgt"vq"vjg"Rtqurgevwu0"
*e+ Vjg"UGDK"KEFT"Tgiwncvkqpu"urgekh{"vjg"cnnqecvkqp"qt"Cnnqvogpv"vjcv"oc{"dg"ocfg"vq"xctkqwu"ecvgiqtkgu"qh"crrnkecpvu"kp"cp"Qhhgt"fgrgpfkpi"wrqp"eqornkcpeg"ykvj"vjg"gnkikdknkv{"eqpfkvkqpu0"Fgvcknu"rgtvckpkpi"vq"cnnqecvkqp"ctg"fkuenqugf"qp"tgxgtug"ukfg"qh"vjg"Tgxkukqp"Hqto0"Hqt"Qhhgt"urgekhke"fgvcknu"kp"tgncvkqp"vq"cnnqecvkqp"crrnkecpv"oc{"tghgt"vq"vjg"Rtqurgevwu0"
60506 HKGNF"PWODGT"8<"KPXGUVQT"UVCVWU"
Crrnkecpvu"ujqwnf"tghgt"vq"kpuvtwevkqpu"eqpvckpgf"kp"rctcitcrju"603080"
60507 HKGNF"9<"RC[OGPV"FGVCKNU"
*c+ Cnn"Crrnkecpvu"*qvjgt"vjcp"Cpejqt"Kpxguvqtu+"ctg"tgswktgf"vq"ocmg"wug"CUDC"hqt"crrn{kpi"kp"vjg"Qhhgt"
"*d+ Crrnkecvkqp"Coqwpv"ecppqv"dg"rckf"kp"ecuj."ejgswgu"qt"fgocpf"ftchvu"vjtqwij"oqpg{"qtfgt"qt"
vjtqwij"rquvcn"qtfgt"qt"vjtqwij"uvqem"kpxguv0"
6050703 Rc{ogpv"kpuvtwevkqpu"hqt"Crrnkecpvu"
*c+ Crrnkecpvu" oc{" uwdokv" vjg" Crrnkecvkqp" Hqto" kp" rj{ukecn" oqfg" vq" vjg" Fgukipcvgf"Kpvgtogfkctkgu0"
*d+ Crrnkecpvu"owuv" urgekh{"qpn{" uwej"Dcpm"Ceeqwpv"pwodgt"ockpvckpgf"ykvj" vjg"UEUD" kp" vjg"Crrnkecvkqp" Hqto0" Vjg" Crrnkecvkqp" Hqto" uwdokvvgf" d{" cp" CUDC" Crrnkecpv" cpf" yjkej" ku"ceeqorcpkgf"d{"ecuj."fgocpf"ftchv."oqpg{"qtfgt."rquvcn"qtfgt"qt"cp{"oqfg"qh"rc{ogpv"qvjgt"vjcp"dnqemgf"coqwpvu"kp"vjg"CUDC"Ceeqwpv"ockpvckpgf"ykvj"cp"UEUD."yknn"pqv"dg"ceegrvgf0"
*e+ Crrnkecpvu" ujqwnf" gpuwtg" vjcv" vjg" Crrnkecvkqp" Hqto" ku" cnuq" ukipgf" d{" vjg" CUDC" Ceeqwpv"jqnfgt*u+"kh"vjg"Crrnkecpv"ku"pqv"vjg"CUDC"Ceeqwpv"jqnfgt="
*f+ Crrnkecpvu" ujcnn" pqvg" vjcv" hqt" vjg" rwtrqug" qh" dnqemkpi" hwpfu" wpfgt" CUDC" hceknkv{" engctn{"fgoctecvgf"hwpfu"ujcnn"dg"cxckncdng"kp"vjg"ceeqwpv0"
*g+ Htqo"qpg"CUDC"Ceeqwpv."c"oczkowo"qh"hkxg"Dkfu"ewo"Crrnkecvkqp"Hqtou"ecp"dg"uwdokvvgf0"
*h+ Crrnkecpvu"dkffkpi" fktgevn{" vjtqwij" vjg" UEUDu" ujqwnf" gpuwtg" vjcv" vjg" Crrnkecvkqp" Hqto" ku"uwdokvvgf"vq"c"Fgukipcvgf"Dtcpej"qh"c"UEUD"yjgtg"vjg"CUDC"Ceeqwpv"ku"ockpvckpgf0"
""
"
578""
*i+ Wrqp" tgegkrv" qh" vjg" Crrnkecvkqp" Hqto." vjg" Fgukipcvgf" Dtcpej" qh" vjg" UEUD"oc{" xgtkh{" kh"uwhhkekgpv" hwpfu" gswcn" vq" vjg" Crrnkecvkqp" Coqwpv" ctg" cxckncdng" kp" vjg" CUDC" Ceeqwpv." cu"ogpvkqpgf"kp"vjg"Crrnkecvkqp"Hqto0"
*j+ Kh" uwhhkekgpv" hwpfu" ctg" cxckncdng" kp" vjg" CUDC" Ceeqwpv." vjg" UEUD"oc{" dnqem" cp" coqwpv"gswkxcngpv"vq"vjg"Crrnkecvkqp"Coqwpv"ogpvkqpgf"kp"vjg"Crrnkecvkqp"Hqto"cpf"oc{"wrnqcf"vjg"fgvcknu"qp"vjg"Uvqem"Gzejcpig"Rncvhqto0"
*k+ Kh"uwhhkekgpv"hwpfu"ctg"pqv"cxckncdng"kp"vjg"CUDC"Ceeqwpv."vjg"Fgukipcvgf"Dtcpej"qh"vjg"UEUD"oc{"pqv"wrnqcf"uwej"Crrnkecvkqpu"qp"vjg"Uvqem"Gzejcpig"rncvhqto"cpf"uwej"Crrnkecvkqpu"ctg"nkcdng"vq"dg"tglgevgf0"
*l+ Wrqp"uwdokuukqp"qh" c"eqorngvgf"Crrnkecvkqp"Hqto" gcej"Crrnkecpv"oc{"dg"fggogf" vq"jcxg"citggf" vq"dnqem" vjg"gpvktg"Crrnkecvkqp"Coqwpv"cpf"cwvjqtk|gf" vjg"Fgukipcvgf"Dtcpej"qh" vjg"UEUD"vq"dnqem"vjg"Crrnkecvkqp"Coqwpv"urgekhkgf"kp"vjg"Crrnkecvkqp"Hqto"kp"vjg"CUDC"Ceeqwpv"ockpvckpgf"ykvj"vjg"UEUDu0"
*m+ Vjg"Crrnkecvkqp"Coqwpv"oc{"tgockp"dnqemgf"kp"vjg"chqtguckf"CUDC"Ceeqwpv"wpvkn"hkpcnkucvkqp"qh" vjg" Dcuku" qh" Cnnqvogpv" cpf" eqpugswgpv" vtcpuhgt" qh" vjg" Crrnkecvkqp" Coqwpv" cickpuv" vjg"Cnnqvvgf"Gswkv{"Ujctgu"vq"vjg"Rwdnke"Qhhgt"Ceeqwpv."qt"wpvkn"ykvjftcycn"qt"hcknwtg"qh"vjg"Kuuwg."qt"wpvkn"ykvjftcycn"qt"tglgevkqp"qh"vjg"Crrnkecvkqp."cu"vjg"ecug"oc{"dg0"
*n+ UEUDu"crrn{kpi"kp"vjg"Qhhgt"owuv"crrn{"vjtqwij"cp"CUDC"Ceeqwpv"ockpvckpgf"ykvj"cp{"qvjgt"UEUD="gnug"vjgkt"Crrnkecvkqpu"ctg"nkcdng"vq"dg"tglgevgf0"
6050704 Wpdnqemkpi"qh"CUDC"Ceeqwpv"
*c+ Qpeg"vjg"Dcuku"qh"Cnnqvogpv"ku"crrtqxgf"d{"vjg"Fgukipcvgf"Uvqem"Gzejcpig."vjg"Tgikuvtct"vq"vjg"Qhhgt"oc{"rtqxkfg"vjg"hqnnqykpi"fgvcknu"vq"vjg"eqpvtqnnkpi"dtcpejgu"qh"gcej"UEUD."cnqpi"ykvj"kpuvtwevkqpu"vq"wpdnqem"vjg"tgngxcpv"dcpm"ceeqwpvu"cpf"hqt"uweeguuhwn"crrnkecvkqpu"vtcpuhgt"vjg"tgswkukvg"oqpg{"vq"vjg"Rwdnke"Qhhgt"Ceeqwpv"fgukipcvgf"hqt"vjku"rwtrqug."ykvjkp"vjg"urgekhkgf"vkognkpgu<"*k+"vjg"pwodgt"qh"Gswkv{"Ujctgu"vq"dg"Cnnqvvgf"cickpuv"gcej"Crrnkecvkqp." *kk+" vjg"coqwpv" vq"dg" vtcpuhgttgf"htqo" vjg" tgngxcpv"dcpm"ceeqwpv" vq" vjg"Rwdnke"Qhhgt"Ceeqwpv."hqt"gcej"Crrnkecvkqp."*kkk+" vjg"fcvg"d{"yjkej"hwpfu"tghgttgf"vq"kp"*kk+"cdqxg"oc{"dg"vtcpuhgttgf"vq"vjg"Rwdnke"Qhhgt"Ceeqwpv."cpf"*kx+"fgvcknu"qh"tglgevgf"Crrnkecvkqpu."kh"cp{."cnqpi"ykvj"tgcuqpu"hqt"tglgevkqp"cpf"fgvcknu"qh"ykvjftcyp"qt"wpuweeguuhwn"Crrnkecvkqpu."kh"cp{."vq"gpcdng"vjg"UEUDu"vq"wpdnqem"vjg"tgurgevkxg"dcpm"ceeqwpvu0"
*d+ Qp"vjg"dcuku"qh"kpuvtwevkqpu"htqo"vjg"Tgikuvtct"vq"vjg"Qhhgt."vjg"UEUDu"oc{"vtcpuhgt"vjg"tgswkukvg"coqwpv"cickpuv"gcej"uweeguuhwn"Crrnkecvkqp"vq"vjg"Rwdnke"Qhhgt"Ceeqwpv"cpf"oc{"wpdnqem"vjg"gzeguu"coqwpv."kh"cp{."kp"vjg"CUDC"Ceeqwpv0""
*e+ Kp" vjg" gxgpv" qh" ykvjftcycn" qt" tglgevkqp" qh" vjg" Crrnkecvkqp" Hqto" cpf" hqt" wpuweeguuhwn"Crrnkecvkqpu." vjg" Tgikuvtct" vq" vjg" Qhhgt"oc{" ikxg" kpuvtwevkqpu" vq" vjg" UEUD" vq" wpdnqem" vjg"Crrnkecvkqp" Coqwpv" kp" vjg" tgngxcpv" CUDC" Ceeqwpv" ykvjkp" ukz" Yqtmkpi" Fc{u" qh" vjg" Qhhgt"Enqukpi"Fcvg0"
6050705 Fkueqwpv"*kh"crrnkecdng+"
*c+ Vjg"Fkueqwpv"ku"uvcvgf"kp"cduqnwvg"twrgg"vgtou0"
*d+ TKKu." Gornq{ggu" cpf" Tgvckn" Kpfkxkfwcn" Ujctgjqnfgtu" ctg" qpn{" gnkikdng" hqt" fkueqwpv0" Hqt"Fkueqwpvu"qhhgtgf"kp"vjg"Kuuwg."crrnkecpvu"oc{"tghgt"vq"vjg"Rtqurgevwu0"
*e+ Vjg" Crrnkecpvu" gpvkvngf" vq" vjg" crrnkecdng" Fkueqwpv" kp" vjg" Qhhgt"oc{"ocmg" rc{ogpv" hqt" cp"coqwpv"k0g0"vjg"Crrnkecvkqp"Coqwpv"nguu"Fkueqwpv"*kh"crrnkecdng+0"
60508 HKGNF" PWODGT" :<" UKIPCVWTGU" CPF" QVJGT" CWVJQTKUCVKQPU" ("
CEMPQYNGFIGOGPV"CPF"HWVWTG"EQOOWPKECVKQP"
Crrnkecpvu"ujqwnf"tghgt"vq"kpuvtwevkqpu"eqpvckpgf"kp"rctcitcrju"6030:"("6030;0"
606 UWDOKUUKQP" QH" DKF" EWO" CRRNKECVKQP" HQTO1" TGXKUKQP" HQTO1CRRNKECVKQP"
""
"
579""
HQTO"
60603 Dkffgtu1Crrnkecpvu" oc{" uwdokv" eqorngvgf" Dkf/ewo/crrnkecvkqp" hqto" 1" Tgxkukqp" Hqto" kp" vjg"
hqnnqykpi"ocppgt</"
Oqfg"qh"Crrnkecvkqp" Uwdokuukqp"qh"Dkf"ewo"Crrnkecvkqp"Hqto"
Cpejqt"Kpxguvqtu"Crrnkecvkqp" Hqto"
Vq"vjg"Dqqm"Twppkpi"Ngcf"Ocpcigtu"cv"vjg"Urgekhkgf"Nqecvkqpu"ogpvkqpgf"kp"vjg"Dkf"ewo"Crrnkecvkqp" Hqto"
Cnn" Crrnkecvkqpu"*qvjgt" vjcp" Cpejqt"Kpxguvqtu+""
*c+ Vq"ogodgtu"qh"vjg"U{pfkecvg"kp"vjg"Urgekhkgf"Nqecvkqpu"qt"Tgikuvgtgf"Dtqmgtu" cv" vjg" Dtqmgt" Egpvtgu" qt" vjg" Eqnngevkpi" TVCu" cv" vjg"Fgukipcvgf" TVC" Nqecvkqpu" qt" vjg" EFRu" cv" vjg" Fgukipcvgf" EFR"Nqecvkqpu"
*d+ Vq"vjg"Fgukipcvgf"Dtcpejgu"qh"vjg"UEUDu"yjgtg"vjg"CUDC"Ceeqwpv"ku"ockpvckpgf"
"*c+ Dkffgtu1Crrnkecpvu" ujqwnf" uwdokv" vjg" Tgxkukqp" Hqto" vq" vjg" ucog" Fgukipcvgf" Kpvgtogfkct{"
vjtqwij"yjkej"uwej"Dkffgt1Crrnkecpv"jcf"rncegf"vjg"qtkikpcn"Dkf0"
*d+ Wrqp"uwdokuukqp"qh" vjg"Dkf/ewo/Crrnkecvkqp"Hqto." vjg"Dkffgt1Crrnkecpv"yknn"dg"fggogf" vq"jcxg" cwvjqtk|gf" vjg" Kuuwgt" vq" ocmg" vjg" pgeguuct{" ejcpigu" kp" vjg" TJR" cpf" vjg" Dkf" ewo"Crrnkecvkqp"Hqto"cu"yqwnf"dg"tgswktgf"hqt"hknkpi"Rtqurgevwu"ykvj"vjg"Tgikuvtct"qh"Eqorcpkgu"*TqE+"cpf"cu"yqwnf"dg"tgswktgf"d{"vjg"TqE"chvgt"uwej"hknkpi."ykvjqwv"rtkqt"qt"uwdugswgpv"pqvkeg"qh"uwej"ejcpigu"vq"vjg"tgngxcpv"Dkffgt1Crrnkecpv0"
*e+ Wrqp"fgvgtokpcvkqp"qh"vjg"Qhhgt"Rtkeg"cpf"hknkpi"qh"vjg"Rtqurgevwu"ykvj"vjg"TqE."vjg"Dkf/ewo/Crrnkecvkqp"Hqto"yknn"dg"eqpukfgtgf"cu"vjg"crrnkecvkqp"hqto0"
UGEVKQP"7<"QHHGT"RTQEGFWTG"KP"DQQM"DWKNV"KUUWG"
Dqqm"Dwknfkpi."kp"vjg"eqpvgzv"qh"vjg"Qhhgt."tghgtu"vq"vjg"rtqeguu"qh"eqnngevkqp"qh"Dkfu"ykvjkp"vjg"Rtkeg"Dcpf"qt"cdqxg"vjg"Hnqqt"Rtkeg"cpf"fgvgtokpkpi"vjg"Qhhgt"Rtkeg"dcugf"qp"vjg"Dkfu"tgegkxgf"cu"fgvckngf"kp"Uejgfwng"ZK"qh"UGDK"KEFT"Tgiwncvkqpu0"Vjg"Qhhgt"Rtkeg"ku"hkpcnkugf"chvgt"vjg"Dkf1Qhhgt"Enqukpi"Fcvg0"Xcnkf"Dkfu"tgegkxgf"cv"qt"cdqxg"vjg"Qhhgt"Rtkeg"ctg"eqpukfgtgf"hqt"cnnqecvkqp"kp"vjg"Kuuwg."uwdlgev"vq"crrnkecdng"tgiwncvkqpu"cpf"qvjgt"vgtou"cpf"eqpfkvkqpu0"
703 UWDOKUUKQP"QH"DKFU"
*c+ Fwtkpi"vjg"Dkf1Qhhgt"Rgtkqf."CUDC"Dkffgtu1Crrnkecpvu"oc{"crrtqcej"cp{"qh"vjg"Fgukipcvgf"Kpvgtogfkct{"vq"tgikuvgt"vjgkt"Dkfu0"Cpejqt"Kpxguvqtu"yjq"ctg"kpvgtguvgf"kp"uwduetkdkpi"hqt"vjg"Gswkv{"Ujctgu"ujqwnf"crrtqcej"vjg"Dqqm"Twppkpi"Ngcf"Ocpcigt"vq"tgikuvgt"vjgkt"Dkf0"
*d+ Kp" ecug" qh" Dkffgtu1Crrnkecpvu" *gzenwfkpi" PKKu" cpf" SKDu+" dkffkpi" cv" Ewv/qhh" Rtkeg." vjg"Dkffgtu1Crrnkecpvu"oc{"kpuvtwev"vjg"UEUDu"vq"dnqem"Dkf"Coqwpv"dcugf"qp"vjg"Ecr"Rtkeg"nguu"fkueqwpv"*kh"crrnkecdng+0""
*e+ Hqt"Fgvcknu"qh"vjg"vkokpi"qp"ceegrvcpeg"cpf"wrnqcf"qh"Dkfu"kp"vjg"Uvqem"Gzejcpigu"Rncvhqto"Dkffgtu1Crrnkecpvu"ctg"tgswguvgf"vq"tghgt"vq"vjg"TJR0"
704 GNGEVTQPKE"TGIKUVTCVKQP"QH"DKFU"
*c+ Vjg" Fgukipcvgf" Kpvgtogfkct{"oc{" tgikuvgt" vjg" Dkfu" wukpi" vjg" qp/nkpg" hceknkvkgu" qh" vjg" Uvqem"Gzejcpigu0" Vjg" Fgukipcvgf" Kpvgtogfkctkgu" ecp" cnuq" ugv" wr" hceknkvkgu" hqt" qhh/nkpg" gngevtqpke"tgikuvtcvkqp"qh"Dkfu."uwdlgev"vq"vjg"eqpfkvkqp"vjcv"vjg{"oc{"uwdugswgpvn{"wrnqcf"vjg"qhh/nkpg"fcvc"hkng"kpvq"vjg"qp/nkpg"hceknkvkgu"hqt"Dqqm"Dwknfkpi"qp"c"tgiwnct"dcuku"dghqtg"vjg"enquwtg"qh"vjg"kuuwg0"
" "
""
"
57:""
*d+ Qp"vjg"Dkf1Qhhgt"Enqukpi"Fcvg." vjg"Fgukipcvgf"Kpvgtogfkctkgu"oc{"wrnqcf" vjg"Dkfu" vknn"uwej"vkog"cu"oc{"dg"rgtokvvgf"d{"vjg"Uvqem"Gzejcpigu0"
*e+ Qpn{"Dkfu" vjcv"ctg"wrnqcfgf"qp" vjg"Uvqem"Gzejcpigu"Rncvhqto"ctg"eqpukfgtgf"hqt"cnnqecvkqp1"Cnnqvogpv0" Vjg" Fgukipcvgf" Kpvgtogfkctkgu" ctg" ikxgp" vknn" 3<22" ro" qp" vjg" fc{" hqnnqykpi" vjg"Dkf1Qhhgt"Enqukpi"Fcvg"vq"oqfkh{"ugngev"hkgnfu"wrnqcfgf"kp"vjg"Uvqem"Gzejcpig"Rncvhqto"fwtkpi"vjg"Dkf1Qhhgt"Rgtkqf"chvgt"yjkej"vjg"Uvqem"Gzejcpig*u+"ugpf"vjg"dkf"kphqtocvkqp"vq"vjg"Tgikuvtct"vq"vjg"Qhhgt"hqt"hwtvjgt"rtqeguukpi0""
705 DWKNF"WR"QH"VJG"DQQM"
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706 YKVJFTCYCN"QH"DKFU"
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*d+ Vjg"Tgikuvtct"vq"vjg"Qhhgt"ujcnn"ikxg"kpuvtwevkqp"vq"vjg"UEUD"hqt"wpdnqemkpi"vjg"CUDC"Ceeqwpv"wrqp" qt"chvgt"vjg"hkpcnk|cvkqp"qh"dcuku"qh"Cnnqvogpv0"SKDu" cpf" PKKu" ecp" pgkvjgt" ykvjftcy"pqt"nqygt" vjg" uk|g" qh"vjgkt"Dkfu"cv"cp{"uvcig0"
707 TGLGEVKQP"("TGURQPUKDKNKV["HQT"WRNQCF"QH"DKFU"
*c+ Vjg"Fgukipcvgf"Kpvgtogfkctkgu"ctg"kpfkxkfwcnn{"tgurqpukdng"hqt"vjg"cevu."okuvcmgu"qt"gttqtu"qt"qokuukqp"kp"tgncvkqp"vq"
k0 vjg"Dkfu"ceegrvgf"d{"vjg"Fgukipcvgf" Kpvgtogfkct{=""
kk0 vjg"Dkfu"wrnqcfgf" d{"vjg"Fgukipcvgf" Kpvgtogfkct{="cpf""
kkk0 vjg"Dkf"ewo"crrnkecvkqp"hqtou"ceegrvgf"dwv"pqv"wrnqcfgf"d{"vjg"Fgukipcvgf"Kpvgtogfkctkgu0"
"*d+ Vjg"DTNO"cpf"vjgkt"chhknkcvg"U{pfkecvg"Ogodgtu."cu"vjg"ecug"oc{"dg."oc{"tglgev"Dkfu"kh"cnn"vjg"
kphqtocvkqp"tgswktgf"ku"pqv"rtqxkfgf"cpf"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"ku"kpeqorngvg"kp"cp{"tgurgev0"
*e+ Vjg"UEUDu"ujcnn"jcxg"pq"tkijv"vq"tglgev"Dkfu."gzegrv"kp"ecug"qh"wpcxckncdknkv{"qh"cfgswcvg"hwpfu"kp"vjg"CUDC"ceeqwpv"qt"qp"vgejpkecn"itqwpfu0"
*f+ Kp"ecug"qh"SKD"Dkffgtu."qpn{"vjg"*k+"UEUDu"*hqt"Dkfu"qvjgt"vjcp"vjg"Dkfu"d{"Cpejqt"Kpxguvqtu+="cpf"*kk+"DTNO"cpf"vjgkt"chhknkcvg"U{pfkecvg"Ogodgtu"*qpn{"kp"vjg"urgekhkgf"nqecvkqpu+"jcxg"vjg"tkijv"vq"tglgev"dkfu0"Jqygxgt."uwej"tglgevkqp"ujcnn"dg"ocfg"cv"vjg"vkog"qh"tgegkxkpi"vjg"Dkf"cpf"qpn{"chvgt"cuukipkpi"c"tgcuqp"hqt"uwej"tglgevkqp"kp"ytkvkpi0"
*g+ Cnn"dkfu"d{"SKDu."PKKu"("TKKu"Dkfu"ecp"dg"tglgevgf"qp"vgejpkecn"itqwpfu"nkuvgf"jgtgkp0"
" "
""
"
57;""
70703 ITQWPFU"HQT"VGEJPKECN"TGLGEVKQPU"
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*e+ Dkfu1Crrnkecvkqpu"d{"QEDu=""
*f+ Kp"ecug"qh"rctvpgtujkr"hktou."Dkf1Crrnkecvkqp"hqt"Gswkv{"Ujctgu"ocfg"kp"vjg"pcog"qh"vjg"hkto0"Jqygxgt."c"nkokvgf"nkcdknkv{"rctvpgtujkr"ecp"crrn{"kp"kvu"qyp"pcog="
*g+ Kp"ecug"qh"Dkfu1Crrnkecvkqpu"wpfgt"rqygt"qh"cvvqtpg{"qt"d{"nkokvgf"eqorcpkgu."eqtrqtcvg."vtwuv"gve0." tgngxcpv" fqewogpvu" ctg" pqv" dgkpi" uwdokvvgf" cnqpi" ykvj" vjg" Dkf" ewo" crrnkecvkqp"hqto1Crrnkecvkqp"Hqto="
*h+ Dkfu1Crrnkecvkqpu"d{"rgtuqpu"rtqjkdkvgf"htqo"dw{kpi."ugnnkpi"qt"fgcnkpi"kp"vjg"ujctgu"fktgevn{"qt"kpfktgevn{"d{"UGDK"qt"cp{"qvjgt"tgiwncvqt{"cwvjqtkv{="
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*j+ Dkfu1Crrnkecvkqpu"d{"rgtuqpu"kp"vjg"Wpkvgf"Uvcvgu="
*k+ FR"KF"cpf"Enkgpv"KF"pqv"ogpvkqpgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto="
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*u+ Ownvkrng"Dkfu1Crrnkecvkqpu"cu"fghkpgf"kp"vjku"IKF"cpf"vjg"TJR1Rtqurgevwu="
""
"
582""
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*y+ Yjgtg"pq"eqphktocvkqp"ku"tgegkxgf"htqo"UEUD"hqt"dnqemkpi"qh"hwpfu="
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*cc+ Dkfu1Crrnkecvkqpu"d{"UEUDu"yjgtgkp"c"ugrctcvg"ceeqwpv"kp"kvu"qyp"pcog"jgnf"ykvj"cp{"qvjgt"UEUD"ku"pqv"ogpvkqpgf"cu"vjg"CUDC"Ceeqwpv"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto1Crrnkecvkqp"Hqto0"
708 DCUKU"QH"CNNQECVKQP"
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*d+ Wpfgt/uwduetkrvkqp"kp"cp{"ecvgiqt{"*gzegrv"SKD"ecvgiqt{+"ku"cnnqygf"vq"dg"ogv"ykvj"urknn/qxgt"htqo" cp{" qvjgt" ecvgiqt{" qt"eqodkpcvkqp" qh" ecvgiqtkgu" cv" vjg" fkuetgvkqp" qh" vjg" Kuuwgt" cpf" kp"eqpuwnvcvkqp"ykvj"vjg"DTNO"cpf"vjg"Fgukipcvgf"Uvqem"Gzejcpig"cpf"kp"ceeqtfcpeg"ykvj"vjg"UGDK" KEFT" Tgiwncvkqpu0" Wpuwduetkdgf" rqtvkqp" kp" SKD" Ecvgiqt{" ku" pqv" cxckncdng" hqt"uwduetkrvkqp"vq"qvjgt"ecvgiqtkgu0"
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722" 46" 722" 38089'"3.222" 45" 3.722" 72022'"3.722" 44" 5.222" 322022'"
""
"
583""
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*g+ Cnvgtpcvg"Ogvjqf"qh"Dqqm"Dwknfkpi"
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UGEVKQP"9<"CNNQVOGPV"RTQEGFWTG"CPF"DCUKU"QH"CNNQVOGPV"
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903 CNNQVOGPV"VQ"TKKu"
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904 CNNQVOGPV"VQ"PKKu"
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905 CNNQVOGPV"VQ"SKDu"
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""
"
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906 CNNQVOGPV"VQ"CPEJQT"KPXGUVQT"*KH"CRRNKECDNG+"
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""
"
586""
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908 FGUKIPCVGF"FCVG"CPF"CNNQVOGPV"QH"GSWKV["UJCTGU"
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*e+ Vjg"fkurcvej"qh"Cnnqvogpv"Cfxkeg"ujcnn"dg"fggogf"c"xcnkf."dkpfkpi"cpf"kttgxqecdng"eqpvtcev0"
*f+ Kuuwgt" yknn" gpuwtg" vjcv<" *k+" vjg" Cnnqvogpv" qh" Gswkv{" Ujctgu=" cpf" *kk+" etgfkv" qh" ujctgu" vq" vjg"uweeguuhwn"Dkffgtu1Crrnkecpvu"Fgrqukvqt{"Ceeqwpv"yknn"dg"eqorngvgf"ykvjkp"ukz"Yqtmkpi"Fc{u"qh" vjg"Dkf1"Qhhgt"Enqukpi"Fcvg0"Vjg"Kuuwgt"cnuq"gpuwtgu"vjg"etgfkv"qh"ujctgu"vq"vjg"uweeguuhwn"Applicant’s depository account is completed within five Working Days from the Bid/Offer Enqukpi"Fcvg0"
" "
""
"
587""
UGEVKQP":<"KPVGTGUV"CPF"TGHWPFU"
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" "
""
"
588""
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40 Kp" ecug" qh" Cpejqt" Kpxguvqtu<" Ykvjkp" ukz" Yqtmkpi" Fc{u" qh" vjg" Dkf1Qhhgt" Enqukpi" Fcvg." vjg"Tgikuvtct" vq" vjg"Qhhgt"oc{"fkurcvej" vjg" tghwpf"qtfgtu" hqt"cnn" coqwpvu"rc{cdng" vq"wpuweeguuhwn"Cpejqt"Kpxguvqtu0"
50 Kp" ecug" qh" Cpejqt" Kpxguvqtu." vjg" Tgikuvtct" vq" vjg" Qhhgt"oc{" qdvckp" htqo" vjg" fgrqukvqtkgu" vjg"Bidders’ bank account details, including the MICR code, on the basis of the DP ID, Client ID and RCP" rtqxkfgf" d{" vjg" Cpejqt" Kpxguvqtu" kp" vjgkt" Dkf" ewo" Crrnkecvkqp" Hqtou" hqt" tghwpfu0"Ceeqtfkpin{."Cpejqt"Kpxguvqtu"ctg"cfxkugf"vq"koogfkcvgn{"wrfcvg"vjgkt"fgvcknu"cu"crrgctkpi"qp"vjg"tgeqtfu"qh"vjgkt"fgrqukvqtkgu0"Hcknwtg"vq"fq"uq"oc{"tguwnv"kp"fgnc{u"kp"fkurcvej"qh"tghwpf"qtfgtu"qt"tghwpfu"vjtqwij"gngevtqpke"vtcpuhgt"qh"hwpfu."cu"crrnkecdng."cpf"cp{"uwej"fgnc{"oc{"dg"cv"vjg"Anchor Investors’ sole risk and neither the Issuer, the Registrar to the Offer, the Escrow Collection Dcpmu."qt"vjg"U{pfkecvg."oc{"dg"nkcdng"vq"eqorgpucvg"vjg"Cpejqt"Kpxguvqtu"hqt"cp{"nquugu"ecwugf"vq"vjgo"fwg"vq"cp{"uwej"fgnc{."qt"nkcdng"vq"rc{"cp{"kpvgtguv"hqt"uwej"fgnc{0"Rngcug"pqvg"vjcv"tghwpfu"ujcnn"dg"etgfkvgf"qpn{"vq"vjg"dcpm"ceeqwpv"htqo"yjkej"vjg"Dkf"Coqwpv"ycu"tgokvvgf"vq"vjg"Guetqy"Dcpm"
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"kkk0 Fktgev"Etgfkv—Cpejqt"Kpxguvqtu" jcxkpi"vjgkt"dcpm"ceeqwpv" ykvj"vjg"Tghwpf"Dcpmgt"oc{"dg"
gnkikdng" vq"tgegkxg" tghwpfu." kh"cp{."vjtqwij"fktgev"etgfkv" vq"uwej"dcpm"ceeqwpv="cpf"""
kx0 TVIU—Cpejqt"Kpxguvqtu"jcxkpi"c"dcpm"ceeqwpv"ykvj"c"dcpm"dtcpej"yjkej"ku"TVIU"gpcdngf"cu"rgt"vjg"kphqtocvkqp"cxckncdng"qp"vjg"ygdukvg"qh"TDK"cpf"yjqug"tghwpf"coqwpv"gzeggfu"`"204"oknnkqp."ujcnn"dg"gnkikdng"vq"tgegkxg"tghwpf"vjtqwij"TVIU."rtqxkfgf"vjg"Fgoqitcrjke"Fgvcknu"fqypnqcfgf"htqo"vjg"Fgrqukvqtkgu"contain the nine digit MICR code of the Anchor Investor’s dcpm"yjkej"ecp"dg"ocrrgf"ykvj"vjg"TDK"fcvc"vq"qdvckp"vjg"eqttgurqpfkpi"KHUE0"Ejctigu."kh"cp{."ngxkgf"d{"vjg"Cpejqt"Guetqy"Dcpm"hqt"vjg"ucog"yqwnf"dg"dqtpg"d{"qwt"Eqorcp{0"Ejctigu."kh"any, levied by the Anchor Investor’s bank receiving the credit would be borne by the Anchor Kpxguvqt0"
"" "
""
"
589""
Rngcug"pqvg"vjcv"tghwpfu"vjtqwij"vjg"cdqxgogpvkqpgf"oqfgu"ujcnn"dg"etgfkvgf"qpn{"vq"vjg"dcpm"ceeqwpv"htqo"yjkej"vjg"Dkf"Coqwpv"ycu"tgokvvgf"vq"vjg"Guetqy"Dcpm0"
Hqt"fgvcknu"qh"ngx{"qh"ejctigu."kh"cp{."hqt"cp{"qh"vjg"cdqxg"ogvjqfu."Dcpm"ejctigu."kh"cp{."hqt"ecujkpi"uwej" ejgswgu." rc{" qtfgtu" qt" fgocpf" ftchvu" cv" qvjgt" egpvgtu" gve0" Dkffgtu1Crrnkecpvu" oc{" tghgt" vq"TJR1Rtqurgevwu0"
:06 KPVGTGUV"KP"ECUG"QH"FGNC["KP"CNNQVOGPV"QT"TGHWPF"
Vjg"Kuuwgt"oc{"rc{"kpvgtguv"cv"vjg"tcvg"qh"37'"rgt"cppwo"kh"tghwpf"qtfgtu"ctg"pqv"fkurcvejgf"qt"kh."kp"c"ecug"yjgtg"vjg"tghwpf"qt"rqtvkqp"vjgtgqh"ku"ocfg"kp"gngevtqpke"ocppgt."vjg"tghwpf"kpuvtwevkqpu"jcxg"pqv"dggp" ikxgp" vq" vjg" engctkpi" u{uvgo" kp" vjg" fkuenqugf" ocppgt" cpf1qt" fgocv" etgfkvu" ctg" pqv" ocfg" vq"Dkffgtu1Crrnkecpvu" qt" kpuvtwevkqpu" hqt"wpdnqemkpi"qh" hwpfu" kp" vjg" CUDC" Ceeqwpv" ctg" pqv" fkurcvejgf"ykvjkp"vjg"ukz"Yqtmkpi"Fc{u"qh"vjg"Dkf1Qhhgt"Enqukpi"Fcvg0"
Vjg"Kuuwgt"oc{"rc{"kpvgtguv"cv"37'"rgt"cppwo"hqt"cp{"fgnc{"dg{qpf"37"fc{u"htqo"vjg"Dkf1"Qhhgt"Enqukpi"Fcvg."kh"Cnnqvogpv"ku"pqv"ocfg0"
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58:""
UGEVKQP";<"INQUUCT["CPF"CDDTGXKCVKQPU""Wpnguu"vjg"eqpvgzv"qvjgtykug"kpfkecvgu"qt"kornkgu."egtvckp"fghkpkvkqpu"cpf"cddtgxkcvkqpu"wugf"kp"vjku"fqewogpv"oc{"jcxg"vjg"ogcpkpi"cu"rtqxkfgf"dgnqy0"Tghgtgpegu"vq"cp{"ngikuncvkqp."cev"qt"tgiwncvkqp"oc{"dg"vq"uwej"ngikuncvkqp."cev"qt"tgiwncvkqp"cu"cogpfgf"htqo"vkog"vq"vkog0"Kp"ecug"qh"kpeqpukuvgpe{"kp"vjg"fguetkrvkqp"qh"c"vgto"ogpvkqpgf"jgtgkp"dgnqy"cpf"vjg"fguetkrvkqp"cuetkdgf"vq"uwej"vgto"kp"vjg"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."vjg"fguetkrvkqp"cu"cuetkdgf"vq"uwej"vgto"kp"vjg"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ujcnn"rtgxckn0"""
Vgto" Fguetkrvkqp"
Cnnqvogpv1Cnnqv1Cnnqvvgf" Vjg"cnnqvogpv"qh"Gswkv{"Ujctgu"rwtuwcpv"vq"vjg"Qhhgt"vq"uweeguuhwn"Dkffgtu1Crrnkecpvu"
Cnnqvogpv"Cfxkeg" Pqvg"qt"cfxkeg"qt"kpvkocvkqp"qh"Cnnqvogpv"ugpv"vq"vjg"Dkffgtu1Crrnkecpvu"yjq"jcxg"dggp"Cnnqvvgf"Gswkv{"Ujctgu"chvgt"vjg"Dcuku"qh"Cnnqvogpv"jcu"dggp"crrtqxgf"d{"vjg"fgukipcvgf"Uvqem"Gzejcpigu"
Cnnqvvgg" Cp"Dkffgt1Crrnkecpv"vq"yjqo"vjg"Gswkv{"Ujctgu"ctg"Cnnqvvgf"
Cpejqt"Kpxguvqt" C" Swcnkhkgf" Kpuvkvwvkqpcn" Dw{gt." crrn{kpi" wpfgt" vjg" Cpejqt" Kpxguvqt" Rqtvkqp" kp"ceeqtfcpeg" ykvj" vjg" tgswktgogpvu" urgekhkgf" kp" UGDK" KEFT" Tgiwncvkqpu" cpf" vjg" Tgf"Jgttkpi"Rtqurgevwu"
Cpejqt"Kpxguvqt"Rqtvkqp" Wr"vq"82'"qh"vjg"SKD"Ecvgiqt{"yjkej"oc{"dg"cnnqecvgf"d{"vjg"Kuuwgt"kp"eqpuwnvcvkqp"ykvj"vjg" DTNOu." vq" Cpejqt" Kpxguvqtu" qp" c" fkuetgvkqpct{" dcuku0" Qpg/vjktf" qh" vjg" Cpejqt"Kpxguvqt" Rqtvkqp" ku" tgugtxgf" hqt" fqoguvke" Owvwcn" Hwpfu." uwdlgev" vq" xcnkf" Dkfu" dgkpi"tgegkxgf"htqo"fqoguvke"Owvwcn"Hwpfu"cv"qt"cdqxg"vjg"rtkeg"cv"yjkej"cnnqecvkqp"ku"dgkpi"fqpg"vq"Cpejqt"Kpxguvqtu"
Crrnkecvkqp"Hqto" Vjg"hqto"kp"vgtou"qh"yjkej"vjg"Crrnkecpv"ujqwnf"ocmg"cp"crrnkecvkqp"hqt"Cnnqvogpv"kp"ecug"qh"kuuwgu"qvjgt"vjcp"Dqqm"Dwknv"Kuuwgu."kpenwfgu"Hkzgf"Rtkeg"Kuuwg"
Crrnkecvkqp"Uwrrqtvgf"d{"Dnqemgf"Coqwpv"1CUDC"
Cp"crrnkecvkqp."yjgvjgt"rj{ukecn"qt"gngevtqpke."wugf"d{"Dkffgtu1Crrnkecpvu."qvjgt" vjcp"Cpejqt"Kpxguvqtu."vq"ocmg"c"Dkf"cpf"cwvjqtkukpi"cp"UEUD"vq"dnqem"vjg"Dkf"Coqwpv"kp"vjg"urgekhkgf"dcpm"ceeqwpv"ockpvckpgf"ykvj"uwej"UEUD"
CUDC"Ceeqwpv" Ceeqwpv"ockpvckpgf"ykvj"cp"UEUD"yjkej"oc{"dg"dnqemgf"d{"uwej"UEUD"vq"vjg"gzvgpv"qh"vjg"Dkf"Coqwpv"qh"vjg"Dkffgt1Crrnkecpv"
Dcpmgt*u+"vq"vjg"Qhhgt1Cpejqt"Guetqy" Dcpm*u+1Eqnngevkpi"Dcpmgt"
Vjg"dcpmu"yjkej"ctg"engctkpi"ogodgtu"cpf"tgikuvgtgf"ykvj"UGDK"cu"Dcpmgt"vq"vjg"Qhhgt"ykvj"yjqo"vjg"Cpejqt"Guetqy"Ceeqwpv*u+"hqt"Cpejqt"Kpxguvqtu"oc{"dg"qrgpgf."cpf"cu"fkuenqugf"kp"vjg"TJR1Rtqurgevwu"cpf"Dkf"ewo"Crrnkecvkqp"Hqto"qh"vjg"Kuuwgt"
Dcuku"qh"Cnnqvogpv" Vjg"dcuku"qp"yjkej"vjg"Gswkv{"Ujctgu"oc{"dg"Cnnqvvgf"vq"uweeguuhwn"Dkffgtu1Crrnkecpvu"wpfgt"vjg"Kuuwg"
Dkf" Cp" kpfkecvkqp" vq"ocmg" cp" qhhgt" fwtkpi" vjg" Dkf1Qhhgt" Rgtkqf" d{" c" rtqurgevkxg" Dkffgt"rwtuwcpv"vq"uwdokuukqp"qh"Dkf"ewo"Crrnkecvkqp"Hqto"qt"fwtkpi"vjg"Cpejqt"Kpxguvqt"Dkf1"Qhhgt"Fcvg"d{"vjg"Cpejqt"Kpxguvqtu."vq"uwduetkdg"hqt"qt"rwtejcug"vjg"Gswkv{"Ujctgu"qh"vjg"Kuuwgt"cv"c"rtkeg"ykvjkp"vjg"Rtkeg"Dcpf."kpenwfkpi"cnn"tgxkukqpu"cpf"oqfkhkecvkqpu"vjgtgvq0"Kp"ecug"qh"kuuwgu"wpfgtvcmgp"vjtqwij"vjg"hkzgf"rtkeg"rtqeguu."cnn"tghgtgpegu"vq"c"Dkf"ujqwnf"dg"eqpuvtwgf"vq"ogcp"cp"Crrnkecvkqp"
Dkf"Coqwpv" Vjg"jkijguv"xcnwg"qh" vjg"qrvkqpcn"Dkfu"kpfkecvgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"cpf"rc{cdng" d{" vjg" Dkffgt1Crrnkecpv" wrqp" uwdokuukqp" qh" vjg" Dkf" *gzegrv" hqt" Cpejqt"Kpxguvqtu+."nguu"fkueqwpvu"*kh"crrnkecdng+0"Kp"ecug"qh"kuuwgu"wpfgtvcmgp"vjtqwij"vjg"hkzgf"rtkeg" rtqeguu." cnn" tghgtgpegu" vq" vjg" Dkf" Coqwpv" ujqwnf" dg" eqpuvtwgf" vq" ogcp" vjg"Crrnkecvkqp"Coqwpv"
Dkf1Qhhgt"Enqukpi"Fcvg" Gzegrv"kp"vjg"ecug"qh"Cpejqt"Kpxguvqtu"*kh"crrnkecdng+."vjg"fcvg"chvgt"yjkej"vjg"Fgukipcvgf"Kpvgtogfkctkgu"oc{"pqv"ceegrv"cp{"Dkfu"hqt"vjg"Qhhgt."yjkej"oc{"dg"pqvkhkgf"kp"cp"Gpinkuj"pcvkqpcn" fckn{." c" Jkpfk" pcvkqpcn" fckn{" cpf" c" tgikqpcn" ncpiwcig" pgyurcrgt" cv" vjg"rnceg"yjgtg" vjg" tgikuvgtgf" qhhkeg" qh" vjg" Kuuwgt" ku" ukvwcvgf." gcej" ykvj" ykfg" ektewncvkqp0"Crrnkecpvu1Dkffgtu"oc{"tghgt"vq"vjg"TJR1Rtqurgevwu"hqt"vjg"Dkf1Qhhgt"Enqukpi"Fcvg"
Dkf1Qhhgt"Qrgpkpi"Fcvg" Vjg"fcvg"qp"yjkej"vjg"Fgukipcvgf"Kpvgtogfkctkgu"oc{"uvctv"ceegrvkpi"Dkfu"hqt"vjg"Kuuwg."yjkej"oc{"dg"vjg"fcvg"pqvkhkgf"kp"cp"Gpinkuj"pcvkqpcn"fckn{."c"Jkpfk"pcvkqpcn"fckn{"cpf"c"tgikqpcn" ncpiwcig" pgyurcrgt" cv" vjg" rnceg" yjgtg" vjg" tgikuvgtgf" qhhkeg" qh" vjg" Kuuwgt" ku"ukvwcvgf."gcej"ykvj"ykfg"ektewncvkqp0"Crrnkecpvu1Dkffgtu"oc{"tghgt"vq"vjg"TJR1Rtqurgevwu"hqt"vjg"Dkf1Qhhgt"Qrgpkpi"Fcvg"
""
"
58;""
Vgto" Fguetkrvkqp"
Dkf1Qhhgt"Rgtkqf" Gzegrv"kp"vjg"ecug"qh"Cpejqt"Kpxguvqtu"*kh"crrnkecdng+."vjg"rgtkqf"dgvyggp"vjg"Dkf1"Qhhgt"Qrgpkpi"Fcvg"cpf"vjg"Dkf1Qhhgt"Enqukpi"Fcvg"kpenwukxg"qh"dqvj"fc{u"cpf"fwtkpi"yjkej"rtqurgevkxg" Dkffgtu1Crrnkecpvu" *qvjgt" vjcp" Cpejqt" Kpxguvqtu+" ecp" uwdokv" vjgkt" Dkfu."kpenwukxg"qh"cp{"tgxkukqpu"vjgtgqh0"Vjg"Kuuwgt"oc{"eqpukfgt"enqukpi"vjg"Dkf1"Qhhgt"Rgtkqf"hqt"SKDu"qpg"yqtmkpi"fc{"rtkqt" vq" vjg"Dkf1Qhhgt"Enqukpi"Fcvg" kp"ceeqtfcpeg"ykvj" vjg"UGDK" KEFT"Tgiwncvkqpu0"Crrnkecpvu1Dkffgtu"oc{" tghgt" vq" vjg"TJR1Rtqurgevwu" hqt" vjg"Dkf1Qhhgt"Rgtkqf"
Dkf"ewo"Crrnkecvkqp"Hqto" Cp"crrnkecvkqp"hqto."yjgvjgt"rj{ukecn"qt"gngevtqpke."wugf"d{"Dkffgtu."qvjgt"vjcp"Cpejqt"Kpxguvqtu."vq"ocmg"c"Dkf"cpf"yjkej"yknn"dg"eqpukfgtgf"cu"vjg"crrnkecvkqp"hqt"Cnnqvogpv"kp"vgtou"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"cpf"vjg"Rtqurgevwu"
Dkffgt1Crrnkecpv" Cp{" rtqurgevkxg" kpxguvqt" yjq"ocmgu" c" Dkf1Crrnkecvkqp" rwtuwcpv" vq" vjg" vgtou" qh" vjg"TJR1Rtqurgevwu"cpf"vjg"Dkf"ewo"Crrnkecvkqp"Hqto0"Kp"ecug"qh"kuuwgu"wpfgtvcmgp"vjtqwij"vjg"hkzgf"rtkeg"rtqeguu."cnn"tghgtgpegu"vq"c"Dkffgt1Crrnkecpv"ujqwnf"dg"eqpuvtwgf"vq"ogcp"cp"Dkffgt1Crrnkecpv"
Dqqm" Dwknv" Rtqeguu1Dqqm"Dwknfkpi" Rtqeguu1Dqqm"Dwknfkpi"Ogvjqf"
Vjg"dqqm"dwknfkpi"rtqeguu"cu"rtqxkfgf"wpfgt"UGDK"KEFT"Tgiwncvkqpu."kp"vgtou"qh"yjkej"vjg"Qhhgt"ku"dgkpi"ocfg"
Dtqmgt"Egpvtgu" Dtqmgt"egpvtgu"pqvkhkgf"d{"vjg"Uvqem"Gzejcpigu."yjgtg"Dkffgtu1Crrnkecpvu"ecp"uwdokv"vjg"Dkf"ewo"Crrnkecvkqp"Hqtou"vq"c"Tgikuvgtgf"Dtqmgt0"Vjg"fgvcknu"qh"uwej"dtqmgt"egpvtgu."cnqpi"ykvj"vjg"pcogu"cpf"eqpvcev"fgvcknu"qh"vjg"Tgikuvgtgf"Dtqmgtu"ctg"cxckncdng"qp"vjg"ygdukvgu"qh"vjg"Uvqem"Gzejcpigu"
DTNO*u+1Dqqm"Twppkpi"Ngcf"Ocpcigt*u+1Ngcf"Ocpcigt1NO"
Vjg"Dqqm"Twppkpi"Ngcf"Ocpcigt"vq"vjg"Qhhgt"cu"fkuenqugf"kp"vjg"TJR1Rtqurgevwu"cpf"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"qh"vjg"Kuuwgt0"Kp"ecug"qh"kuuwgu"wpfgtvcmgp"vjtqwij"vjg"hkzgf"rtkeg"rtqeguu."cnn"tghgtgpegu"vq"vjg"Dqqm"Twppkpi"Ngcf"Ocpcigt"ujqwnf"dg"eqpuvtwgf"vq"ogcp"vjg"Ngcf"Ocpcigt"qt"NO"
Dwukpguu"Fc{" Oqpfc{"vq"Ucvwtfc{"*gzegrv"4pf"cpf"6vj"Ucvwtfc{"qh"c"oqpvj"cpf"rwdnke"jqnkfc{u+"
ECP1Eqphktocvkqp"qh"Cnnqvogpv"Pqvg"
Vjg"pqvg"qt"cfxkeg"qt"kpvkocvkqp"ugpv"vq"gcej"uweeguuhwn"Dkffgt1Crrnkecpv"kpfkecvkpi"vjg"Gswkv{" Ujctgu" yjkej"oc{" dg" Cnnqvvgf." chvgt" crrtqxcn" qh" Dcuku" qh" Cnnqvogpv" d{" vjg"Fgukipcvgf"Uvqem"Gzejcpig"
Ecr"Rtkeg" Vjg"jkijgt"gpf"qh"vjg"Rtkeg"Dcpf."cdqxg"yjkej"vjg"Qhhgt"Rtkeg"cpf"vjg"Cpejqt"Kpxguvqt"Qhhgt"Rtkeg"oc{"pqv"dg"hkpcnkugf"cpf"cdqxg"yjkej"pq"Dkfu"oc{"dg"ceegrvgf"
Enkgpv"KF" Enkgpv"Kfgpvkhkecvkqp"Pwodgt"ockpvckpgf"ykvj"qpg"qh"vjg"Fgrqukvqtkgu"kp"tgncvkqp"vq"fgocv"ceeqwpv"
Eqnngevkpi"Fgrqukvqt{"Rctvkekrcpv"qt"EFRu"
C" fgrqukvqt{"rctvkekrcpv" cu" fghkpgf" wpfgt" vjg" Fgrqukvqtkgu" Cev." 3;;8." tgikuvgtgf" ykvj"UGDK"cpf"yjq"ku"gnkikdng"vq"rtqewtg"Dkfu"cv"vjg"Fgukipcvgf"EFR"Nqecvkqpu"kp"vgtou"qh"ektewnct"pq0"EKT1EHF1RQNKE[EGNN13314237"fcvgf"Pqxgodgt"32."4237"kuuwgf"d{"UGDK"
Eqnngevkpi"Tgikuvtct"cpf"Ujctg"Vtcpuhgt"Cigpvu"qt"Eqnngevkpi"TVCu"
Tgikuvtct"cpf"ujctg"vtcpuhgt"cigpvu"tgikuvgtgf"ykvj"UGDK"cpf"gnkikdng"vq"rtqewtg"Dkfu"cv"vjg"Fgukipcvgf"TVC"Nqecvkqpu"kp"vgtou"qh"ektewnct"pq0"EKT1EHF1RQNKE[EGNN13314237"fcvgf"Pqxgodgt"32."4237"kuuwgf"d{"UGDK"
Ewv/qhh"Rtkeg" Qhhgt" Rtkeg." hkpcnkugf" d{" vjg" Kuuwgt" kp" eqpuwnvcvkqp" ykvj" vjg" Dqqm" Twppkpi" Ngcf"Ocpcigt*u+."yjkej"ecp"dg"cp{"rtkeg"ykvjkp"vjg"Rtkeg"Dcpf0"Qpn{"TKKu."Tgvckn"Kpfkxkfwcn"Ujctgjqnfgtu"cpf"gornq{ggu"ctg"gpvkvngf"vq"Dkf"cv"vjg"Ewv/qhh"Rtkeg0"Pq"qvjgt"ecvgiqt{"qh"Dkffgtu1Crrnkecpvu"ctg"gpvkvngf"vq"Dkf"cv"vjg"Ewv/qhh"Rtkeg"
FR" Fgrqukvqt{"Rctvkekrcpv"
FR"KF" Depository Participant’s Identification Number"
Fgrqukvqtkgu" Pcvkqpcn"Ugewtkvkgu"Fgrqukvqt{"Nkokvgf"cpf"Egpvtcn"Fgrqukvqt{"Ugtxkegu"*Kpfkc+"Nkokvgf"
Fgoqitcrjke"Fgvcknu" Fgvckns of the Bidders/Applicants including the Bidder/Applicant’s address, name of the Applicant’s father/husband, investor status, occupation and bank account details"
Fgukipcvgf"Dtcpejgu" Uwej"dtcpejgu"qh"vjg"UEUDu"yjkej"oc{"eqnngev"vjg"Dkf"ewo"Crrnkecvkqp"Hqtou"wugf"d{"Dkffgtu1Crrnkecpvu" *gzenwfkpi" Cpejqt" Kpxguvqtu+" cpf" c" nkuv" qh" yjkej" ku" cxckncdng" qp"jvvr<11yyy0ugdk0iqx0kp1ugdkygd1jqog1nkuv1715512121Tgeqipkugf/Kpvgtogfkctkgu""
Fgukipcvgf"EFR"Nqecvkqpu" Uwej"nqecvkqpu"qh"vjg"EFRu"yjgtg"Dkffgtu"ecp"uwdokv"vjg"Dkf"ewo"Crrnkecvkqp"Hqtou"vq"Eqnngevkpi"Fgrqukvqt{"Rctvkekrcpvu0""Vjg"fgvcknu"qh"uwej"Fgukipcvgf"EFR"Nqecvkqpu."cnqpi"ykvj"pcogu"cpf"eqpvcev"fgvcknu"qh"vjg"Eqnngevkpi"Fgrqukvqt{"Rctvkekrcpvu"gnkikdng"vq"ceegrv"Dkf"ewo"Crrnkecvkqp"Hqtou"ctg"cxckncdng" qp" vjg" tgurgevkxg" ygdukvgu" qh" vjg" Uvqem" Gzejcpigu" *yyy0dugkpfkc0eqo" cpf"yyy0pugkpfkc0eqo+"
""
"
592""
Vgto" Fguetkrvkqp"
Fgukipcvgf"Fcvg" Vjg"fcvg"qp"yjkej"hwpfu"ctg"vtcpuhgttgf"d{"vjg"Cpejqt"Guetqy"Dcpm"htqo" vjg"Cpejqt"Guetqy"Ceeqwpv"cpf"vjg"coqwpvu"dnqemgf"d{"vjg"UEUDu"ctg"vtcpuhgttgf"htqo"vjg"CUDC"Ceeqwpvu."cu" vjg"ecug"oc{"dg." vq" vjg"Rwdnke" Qhhgt"Ceeqwpv"qt" vjg"Tghwpf"Ceeqwpv."cu"crrtqrtkcvg." chvgt" vjg" Rtqurgevwu" ku" hkngf" ykvj" vjg" TqE." hqnnqykpi" yjkej" vjg"dqctf" qh"fktgevqtu"oc{"Cnnqv"Gswkv{"Ujctgu"vq"uweeguuhwn"Dkffgtu1Crrnkecpvu"kp"vjg"Htguj"Kuuwg"oc{"ikxg"fgnkxgt{"kpuvtwevkqpu"hqt"vjg"vtcpuhgt"qh"vjg"Gswkv{"Ujctgu"eqpuvkvwvkpi"vjg"Qhhgt"hqt"Ucng"
Fgukipcvgf"Kpvgtogfkctkgu"1Eqnngevkpi"Cigpv"
U{pfkecvg" Ogodgtu." uwd/u{pfkecvg1Cigpvu." UEUDu." Tgikuvgtgf" Dtqmgtu." Dtqmgtu." vjg"EFRu"cpf"Eqnngevkpi"TVCu."yjq"ctg"cwvjqtk|gf"vq"eqnngev"Dkf"ewo"Crrnkecvkqp"Hqtou"htqo"vjg"Dkffgtu."kp"tgncvkqp"vq"vjg"Qhhgt""
Fgukipcvgf"TVC"Nqecvkqpu" Uwej"nqecvkqpu"qh"vjg"Eqnngevkpi"TVCu"yjgtg"Dkffgtu"ecp"uwdokv"vjg"Dkf"ewo"Crrnkecvkqp"Hqtou"vq"Eqnngevkpi"TVCu0""Vjg"fgvcknu"qh"uwej"Fgukipcvgf"TVC"Nqecvkqpu."cnqpi"ykvj"pcogu"cpf"eqpvcev"fgvcknu"qh"vjg"Eqnngevkpi"TVCu"gnkikdng"vq"ceegrv"Dkf"ewo"Crrnkecvkqp"Hqtou"ctg"cxckncdng"qp"vjg"tgurgevkxg"ygdukvgu"qh"vjg"Uvqem"Gzejcpigu"*yyy0dugkpfkc0eqo"cpf"yyy0pugkpfkc0eqo+"
"Fgukipcvgf"Uvqem"Gzejcpig"
Vjg"fgukipcvgf"uvqem"gzejcpig"cu"fkuenqugf"kp"vjg"TJR1Rtqurgevwu"qh"vjg"Kuuwgt"
Fkueqwpv" Fkueqwpv" vq" vjg"Qhhgt"Rtkeg" vjcv"oc{"dg"rtqxkfgf" vq"Dkffgtu1Crrnkecpvu" kp"ceeqtfcpeg"ykvj"vjg"UGDK"KEFT"Tgiwncvkqpu0"
Ftchv"Rtqurgevwu" Vjg"ftchv"rtqurgevwu"hkngf"ykvj"UGDK"kp"ecug"qh"Hkzgf"Rtkeg"Kuuwgu"cpf"yjkej"oc{"ogpvkqp"c"rtkeg"qt"c"Rtkeg"Dcpf"
Gornq{ggu" Gornq{ggu"qh"cp"Kuuwgt"cu"fghkpgf"wpfgt"UGDK"KEFT"Tgiwncvkqpu"cpf"kpenwfkpi."kp"ecug"qh"c"pgy"eqorcp{."rgtuqpu"kp"vjg"rgtocpgpv"cpf"hwnn"vkog"gornq{ogpv"qh"vjg"rtqoqvkpi"eqorcpkgu"gzenwfkpi"vjg"rtqoqvgtu"cpf"koogfkcvg"tgncvkxgu"qh"vjg"rtqoqvgtu0"Hqt"hwtvjgt"fgvcknu."Dkffgt1Crrnkecpv"oc{"tghgt"vq"vjg"TJR1Rtqurgevwu"
Gswkv{"Ujctgu" Gswkv{"Ujctgu"qh"vjg"Kuuwgt"
Cpejqt"Guetqy"Ceeqwpv" Ceeqwpv" qrgpgf" ykvj" vjg" Cpejqt" Eqnngevkqp" Dcpmcpf" kp" yjqug" hcxqwt" vjg" Cpejqt"Kpxguvqtu"oc{" vtcpuhgt"oqpg{" vjtqwij"PGHV1TVIU1fktgev"etgfkv" kp" tgurgev" qh" vjg"Dkf"Coqwpv"yjgp"uwdokvvkpi"c"Dkf"
Ecuj"Guetqy"Citggogpv" Citggogpv" vq"dg" gpvgtgf" kpvq" coqpi" vjg" Kuuwgt." vjg" Tgikuvtct" vq" vjg" Qhhgt." vjg" Dqqm"Twppkpi" Ngcf" Ocpcigt*u+." vjg" Cpejqt" Guetqy" Dcpm" cpf" vjg" Tghwpf" Dcpm*u+" hqt"eqnngevkqp"qh" vjg"Dkf"Coqwpvu" htqo"Cpejqt" Kpxguvqtu"cpf"yjgtg"crrnkecdng." tgokvvkpi"tghwpfu"qh" vjg" coqwpvu"eqnngevgf" vq" vjg"Cpejqt" Kpxguvqtu"qp" vjg" vgtou" cpf"eqpfkvkqpu"vjgtgqh"
Cpejqt"Guetqy"Dcpm" Tghgt"vq"fghkpkvkqp"qh"Dcpmgt*u+"vq"vjg"Qhhgt"
HEPT"Ceeqwpv" Hqtgkip"Ewttgpe{"Pqp/Tgukfgpv"Ceeqwpv"
Hktuv"Dkffgt1Crrnkecpv" Vjg" Dkffgt1Crrnkecpv" yjqug" pcog" crrgctu" hktuv" kp" vjg" Dkf" ewo" Crrnkecvkqp" Hqto" qt"Tgxkukqp"Hqto"
HKK*u+" Hqtgkip"Kpuvkvwvkqpcn"Kpxguvqtu"cu"fghkpgf"wpfgt"vjg"UGDK"*Hqtgkip"Kpuvkvwvkqpcn"Kpxguvqtu+"Tgiwncvkqpu."3;;7"cpf"tgikuvgtgf"ykvj"UGDK"wpfgt"crrnkecdng"ncyu"kp"Kpfkc"
Hkzgf" Rtkeg" Kuuwg1Hkzgf"Rtkeg"Rtqeguu1Hkzgf"Rtkeg"Ogvjqf"
Vjg"Hkzgf"Rtkeg"rtqeguu"cu"rtqxkfgf"wpfgt"UGDK"KEFT"Tgiwncvkqpu."kp"vgtou"qh"yjkej"vjg"Qhhgt"ku"dgkpi"ocfg"
Hnqqt"Rtkeg" Vjg" nqygt" gpf" qh" vjg" Rtkeg" Dcpf." cv" qt" cdqxg" yjkej" vjg" Qhhgt" Rtkeg" cpf" vjg" Cpejqt"Kpxguvqt"Qhhgt"Rtkeg"oc{"dg"hkpcnkugf"cpf"dgnqy"yjkej"pq"Dkfu"oc{"dg"ceegrvgf."uwdlgev"vq"cp{"tgxkukqp"vjgtgvq"
HRKu" Hqtgkip"Rqtvhqnkq"Kpxguvqtu"cu"fghkpgf"wpfgt"vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"*Hqtgkip"Rqtvhqnkq"Kpxguvqtu+"Tgiwncvkqpu."4236"
HRQ" Hwtvjgt"rwdnke"qhhgtkpi"
Hqtgkip"Xgpvwtg"Ecrkvcn"Kpxguvqtu"qt"HXEKu"
Hqtgkip"Xgpvwtg"Ecrkvcn"Kpxguvqtu"cu"fghkpgf"cpf"tgikuvgtgf"ykvj"UGDK"wpfgt"vjg"UGDK"*Hqtgkip"Xgpvwtg"Ecrkvcn"Kpxguvqtu+"Tgiwncvkqpu."4222"
KRQ" Kpkvkcn"rwdnke"qhhgtkpi"
Kuuwgt1Eqorcp{" Vjg"Kuuwgt"rtqrqukpi"vjg"kpkvkcn"rwdnke"qhhgtkpi1hwtvjgt"rwdnke"qhhgtkpi"cu"crrnkecdng"
Oczkowo"TKK"Cnnqvvggu" Vjg"oczkowo" pwodgt" qh" TKKu" yjq" ecp" dg" Cnnqvvgf" vjg"okpkowo" Dkf" Nqv0" Vjku" ku"eqorwvgf"d{"fkxkfkpi"vjg"vqvcn"pwodgt"qh"Gswkv{"Ujctgu"cxckncdng"hqt"Cnnqvogpv"vq"TKKu"d{"vjg"okpkowo"Dkf"Nqv0"
OKET" Ocipgvke"Kpm"Ejctcevgt"Tgeqipkvkqp"/"pkpg/fkikv"eqfg"cu"crrgctkpi"qp"c"ejgswg"ngch"
Owvwcn"Hwpf" C"owvwcn"hwpf"tgikuvgtgf"ykvj"UGDK"wpfgt"vjg"UGDK"*Owvwcn"Hwpfu+"Tgiwncvkqpu."3;;8"
""
"
593""
Vgto" Fguetkrvkqp"
Owvwcn"Hwpfu"Rqtvkqp" 7'"qh"vjg"SKD"Ecvgiqt{"*gzenwfkpi"vjg"Cpejqt"Kpxguvqt"Rqtvkqp+"cxckncdng"hqt"cnnqecvkqp"vq" Owvwcn" Hwpfu" qpn{." dgkpi" uwej" pwodgt" qh" gswkv{" ujctgu" cu" fkuenqugf" kp" vjg"TJR1Rtqurgevwu"cpf"Dkf"ewo"Crrnkecvkqp"Hqto"
"PGEU" "Pcvkqpcn"Gngevtqpke"Engctkpi"Ugtxkeg"
PGHV" Pcvkqpcn"Gngevtqpke"Hwpf"Vtcpuhgt"
PTG"Ceeqwpv" Pqp/Tgukfgpv"Gzvgtpcn"Ceeqwpv"
PTK" PTKu"htqo"uwej"lwtkufkevkqpu"qwvukfg"Kpfkc"yjgtg"kv"ku"pqv"wpncyhwn"vq"ocmg"cp"qhhgt"qt"kpxkvcvkqp"wpfgt" vjg" Qhhgt" cpf" kp" tgncvkqp" vq"yjqo" vjg"TJR1Rtqurgevwu"eqpuvkvwvgu" cp"kpxkvcvkqp"vq"uwduetkdg"vq"qt"rwtejcug"vjg"Gswkv{"Ujctgu"
PTQ"Ceeqwpv" Pqp/Tgukfgpv"Qtfkpct{"Ceeqwpv"
Pgv"Qhhgt" Vjg"Qhhgt"nguu"tgugtxcvkqp"rqtvkqp"Pqp/Kpuvkvwvkqpcn" Kpxguvqtu" qt"PKKu"
Cnn"Dkffgtu1Crrnkecpvu." kpenwfkpi"uwd"ceeqwpvu"qh"HKKu"tgikuvgtgf"ykvj"UGDK"yjkej"ctg"hqtgkip"eqtrqtcvgu"qt"hqtgkip"kpfkxkfwcnu"cpf"HRKu"yjkej"ctg"Ecvgiqt{"KKK"hqtgkip"rqtvhqnkq"kpxguvqtu."vjcv"ctg"pqv"SKDu"qt"TKDu"cpf"yjq"jcxg"Dkf"hqt"Gswkv{"Ujctgu"hqt"cp"coqwpv"qh"oqtg"vjcp"` 422.222"*dwv"pqv"kpenwfkpi"PTKu"qvjgt"vjcp"Gnkikdng"PTKu+"
Pqp/Kpuvkvwvkqpcn"Ecvgiqt{" Vjg"rqtvkqp"qh"vjg"Qhhgt"dgkpi"uwej"pwodgt"qh"Gswkv{"Ujctgu"cxckncdng"hqt"cnnqecvkqp"vq"PKKu"qp"c"rtqrqtvkqpcvg"dcuku"cpf"cu"fkuenqugf"kp"vjg"TJR1Rtqurgevwu"cpf"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"
Pqp/Tgukfgpv" C"rgtuqp"tgukfgpv"qwvukfg"Kpfkc."cu"fghkpgf"wpfgt"HGOC"cpf"kpenwfgu"Gnkikdng"PTKu."HRKu"cpf"HXEKu"tgikuvgtgf"ykvj"UGDK"
QED1Qxgtugcu"Eqtrqtcvg"Dqf{"
C"eqorcp{."rctvpgtujkr."uqekgv{"qt"qvjgt"eqtrqtcvg"dqf{"qypgf"fktgevn{"qt"kpfktgevn{"vq"vjg"gzvgpv"qh"cv"ngcuv"82'"d{"PTKu"kpenwfkpi"qxgtugcu"vtwuvu."kp"yjkej"pqv"nguu"vjcp"82'"qh"dgpghkekcn"kpvgtguv"ku"kttgxqecdn{"jgnf"d{"PTKu"fktgevn{"qt"kpfktgevn{"cpf"yjkej"ycu"kp"gzkuvgpeg"qp"Qevqdgt"5."4225"cpf"koogfkcvgn{"dghqtg"uwej"fcvg"jcf"vcmgp"dgpghkvu"wpfgt"vjg"igpgtcn"rgtokuukqp"itcpvgf"vq"QEDu"wpfgt"HGOC"
Qhhgt" Rwdnke"kuuwg"qh"Gswkv{"Ujctgu"qh"vjg"Kuuwgt"kpenwfkpi"vjg"Qhhgt"hqt"Ucng"kh"crrnkecdng"
Qhhgt"hqt"Ucng" Rwdnke"qhhgt"qh"uwej"pwodgt"qh"Gswkv{"Ujctgu"cu"fkuenqugf"kp"vjg"TJR1Rtqurgevwu"vjtqwij"cp"qhhgt"hqt"ucng"d{"vjg"Ugnnkpi"Ujctgjqnfgt"
Qhhgt"Rtkeg" Vjg"hkpcn"rtkeg."nguu"fkueqwpv"*kh"crrnkecdng+"cv"yjkej"vjg"Gswkv{"Ujctgu"oc{"dg"Cnnqvvgf"vq"Dkffgtu"qvjgt"vjcp"Cpejqt"Kpxguvqtu."kp"vgtou"qh"vjg"Rtqurgevwu0"Gswkv{"Ujctgu"yknn"dg"Cnnqvvgf"vq"Cpejqt"Kpxguvqtu"cv"vjg"Cpejqt"Kpxguvqt"Qhhgt"Rtkeg"Vjg"Qhhgt"Rtkeg"oc{"dg"fgekfgf"d{"vjg"Kuuwgt"kp"eqpuwnvcvkqp"ykvj"vjg"Dqqm"Twppkpi"Ngcf"Ocpcigt*u+"
Qvjgt"Kpxguvqtu" Kpxguvqtu" qvjgt" vjcp" Tgvckn" Kpfkxkfwcn" Kpxguvqtu" kp" c" Hkzgf" Rtkeg" Kuuwg0" Vjgug" kpenwfg"kpfkxkfwcn"crrnkecpvu"qvjgt"vjcp"tgvckn"kpfkxkfwcn"kpxguvqtu"cpf"qvjgt"kpxguvqtu"kpenwfkpi"eqtrqtcvg"dqfkgu"qt"kpuvkvwvkqpu"kttgurgevkxg"qh"vjg"pwodgt"qh"urgekhkgf"ugewtkvkgu"crrnkgf"hqt"
RCP" Rgtocpgpv"Ceeqwpv"Pwodgt"cnnqvvgf"wpfgt"vjg"Kpeqog"Vcz"Cev."3;83"
Rtkeg"Dcpf" Rtkeg"Dcpf"ykvj"c"okpkowo"rtkeg."dgkpi"vjg"Hnqqt"Rtkeg"cpf"vjg"oczkowo"rtkeg."dgkpi"vjg"Ecr"Rtkeg"cpf"kpenwfgu"tgxkukqpu"vjgtgqh0"Vjg"Rtkeg"Dcpf"cpf"vjg"okpkowo"Dkf"nqv"uk|g"hqt"vjg"Qhhgt"oc{"dg"fgekfgf"d{"vjg"Kuuwgt"kp"eqpuwnvcvkqp"ykvj"vjg"Dqqm"Twppkpi"Ngcf"Ocpcigt*u+"cpf"cfxgtvkugf."cv" ngcuv"hkxg"yqtmkpi"fc{u" kp"ecug"qh"cp"KRQ"cpf"qpg"yqtmkpi"fc{" kp"ecug"qh"HRQ."rtkqt" vq" vjg"Dkf1Qhhgt"Qrgpkpi"Fcvg." kp"Gpinkuj"pcvkqpcn"fckn{."Jkpfk"pcvkqpcn"fckn{"cpf"tgikqpcn"ncpiwcig"cv"vjg"rnceg"yjgtg"vjg"tgikuvgtgf"qhhkeg"qh"vjg"Kuuwgt"ku"ukvwcvgf."pgyurcrgt"gcej"ykvj"ykfg"ektewncvkqp"
Rtkekpi"Fcvg" Vjg"fcvg"qp"yjkej"vjg"Kuuwgt"kp"eqpuwnvcvkqp"ykvj"vjg"Dqqm"Twppkpi"Ngcf"Ocpcigt*u+."hkpcnkug"vjg"Qhhgt"Rtkeg"
Rtqurgevwu" Vjg"rtqurgevwu"vq"dg"hkngf"ykvj"vjg"TqE"kp"ceeqtfcpeg"ykvj"Ugevkqp"48"qh"vjg"Eqorcpkgu"Cev" 4235" chvgt" vjg"Rtkekpi" Fcvg." eqpvckpkpi" vjg" Qhhgt" Rtkeg." vjg" uk|g" qh" vjg" Qhhgt" cpf"egtvckp"qvjgt"kphqtocvkqp"
Rwdnke"Qhhgt"Ceeqwpv" Cp" ceeqwpv" qrgpgf" ykvj" vjg" Dcpmgt" vq" vjg" Qhhgt" vq" tgegkxg"oqpkgu" htqo" vjg" Cpejqt"Guetqy"Ceeqwpv"cpf"htqo"vjg"CUDC"Ceeqwpvu"qp"vjg"Fgukipcvgf"Fcvg"
SKD"Ecvgiqt{" Vjg"rqtvkqp"qh"vjg"Qhhgt"dgkpi"uwej"pwodgt"qh"Gswkv{"Ujctgu"vq"dg"Cnnqvvgf"vq"SKDu"qp"c"rtqrqtvkqpcvg"dcuku"
Swcnkhkgf"Kpuvkvwvkqpcn"Dw{gtu"qt"SKDu"
Cu"fghkpgf"wpfgt"UGDK"KEFT"Tgiwncvkqpu"
TVIU" Tgcn"Vkog"Itquu"Ugvvngogpv"
""
"
594""
Vgto" Fguetkrvkqp"
Tgf"Jgttkpi"Rtqurgevwu1TJR"
Vjg"tgf"jgttkpi"rtqurgevwu"kuuwgf"kp"ceeqtfcpeg"ykvj"Ugevkqp"54"qh"vjg"Eqorcpkgu"Cev"4235."yjkej"fqgu"pqv"jcxg"eqorngvg"rctvkewnctu"qh"vjg"rtkeg"cv"yjkej"vjg"Gswkv{"Ujctgu"ctg"qhhgtgf"cpf"vjg"uk|g"qh"vjg"Kuuwg0"Vjg"TJR"oc{"dg"hkngf"ykvj"vjg"TqE"cv"ngcuv"vjtgg"fc{u"dghqtg"vjg"Dkf1"Qhhgt"Qrgpkpi"Fcvg"cpf"oc{"dgeqog"c"Rtqurgevwu"wrqp"hknkpi"ykvj"vjg" TqE" chvgt" vjg" Rtkekpi" Fcvg0" Kp" ecug" qh" kuuwgu" wpfgtvcmgp" vjtqwij" vjg" hkzgf" rtkeg"rtqeguu."cnn"tghgtgpegu"vq"vjg"TJR"ujqwnf"dg"eqpuvtwgf"vq"ogcp"vjg"Rtqurgevwu"
Tghwpf"Ceeqwpv*u+" Vjg"ceeqwpv"qrgpgf"ykvj"Tghwpf"Dcpm*u+."htqo"yjkej"tghwpfu"vq"Cpejqt"Kpxguvqtu." kh"cp{."qh"vjg"yjqng"qt"rctv"qh"vjg"Dkf"Coqwpv"oc{"dg"ocfg"
Tghwpf"Dcpm*u+" Tghwpf"dcpm*u+"cu"fkuenqugf"kp"vjg"TJR1Rtqurgevwu"cpf"Dkf"ewo"Crrnkecvkqp"Hqto"qh"vjg"Kuuwgt"
Tghwpfu" vjtqwij" gngevtqpke"vtcpuhgt"qh"hwpfu"
Tghwpfu"vjtqwij"Fktgev"Etgfkv."PGHV."TVIU"qt"CUDC."cu"crrnkecdng"
Tgikuvgtgf"Dtqmgt" Uvqem"Dtqmgtu"tgikuvgtgf"ykvj"vjg"Uvqem"Gzejcpigu"jcxkpi"pcvkqpykfg"vgtokpcnu."qvjgt"vjcp"vjg"ogodgtu"qh"vjg"U{pfkecvg"
Tgikuvtct"vq"vjg"Qhhgt1TVQ" Vjg"Tgikuvtct"vq"vjg"Qhhgt"cu"fkuenqugf"kp"vjg"TJR1Rtqurgevwu"cpf"Dkf"ewo"Crrnkecvkqp"Hqto"
Tgugtxgf"Ecvgiqt{1Ecvgiqtkgu"
Ecvgiqtkgu"qh"rgtuqpu"gnkikdng"hqt"ocmkpi"crrnkecvkqp1Dkffkpi"wpfgt"tgugtxcvkqp"rqtvkqp"
Tgugtxcvkqp"Rqtvkqp" Vjg"rqtvkqp" qh" vjg" Qhhgt" tgugtxgf" hqt" uwej" ecvgiqt{" qh" gnkikdng" Dkffgtu1Crrnkecpvu" cu"rtqxkfgf"wpfgt"vjg"UGDK"KEFT"Tgiwncvkqpu"
Tgvckn"Kpfkxkfwcn"Kpxguvqtu1TKKu"
Investors who applies or bids for a value of not more than ₹200,000 (including HUFs crrn{kpi" vjtqwij" vjgkt" mctvc" cpf" gnkikdng" PTKu" cpf" fqgu" pqv" kpenwfg" PTKu" qvjgt" vjcp"Gnkikdng"PTKu0"
Tgvckn"Kpfkxkfwcn"Ujctgjqnfgtu"
Shareholders of a listed Issuer who applies or bids for a value of not more than ₹ 200,000."
Tgvckn"Ecvgiqt{" Vjg"rqtvkqp"qh"vjg"Qhhgt"dgkpi"uwej"pwodgt"qh"Gswkv{"Ujctgu"cxckncdng"hqt"cnnqecvkqp"vq"TKKu" yjkej" ujcnn" pqv"dg" nguu" vjcp" vjg"okpkowo"Dkf" Nqv." uwdlgev" vq" cxckncdknkv{" kp"TKK"ecvgiqt{"cpf"vjg"tgockpkpi"ujctgu"vq"dg"Cnnqvvgf"qp"rtqrqtvkqpcvg"dcuku0"
Tgxkukqp"Hqto" Vjg"hqto"wugf"d{"vjg"Dkffgtu"kp"cp"kuuwg"vjtqwij"Dqqm"Dwknfkpi"Rtqeguu"vq"oqfkh{"vjg"swcpvkv{" qh" Gswkv{" Ujctgu" cpf1qt" dkf"rtkeg" kpfkecvgf" vjgtgkp" kp" cp{" qh" vjgkt" Dkf" ewo"Crrnkecvkqp"Hqtou"qt"cp{"rtgxkqwu"Tgxkukqp"Hqto*u+"
TqE" Vjg"Tgikuvtct"qh"Eqorcpkgu"
UGDK" Vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"eqpuvkvwvgf"wpfgt"vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"Cev."3;;4"
UGDK"KEFT"Tgiwncvkqpu" Vjg" Ugewtkvkgu" cpf" Gzejcpig" Dqctf" qh" Kpfkc" *Kuuwg" qh" Ecrkvcn" cpf" Fkuenquwtg"Tgswktgogpvu+"Tgiwncvkqpu."422;"cu"cogpfgf""
Ugnh"Egtvkhkgf"U{pfkecvg"Dcpm*u+"qt"UEUD*u+"
Vjg"dcpmu"tgikuvgtgf"ykvj"vjg"UGDK"yjkej"qhhgtu"vjg"hceknkv{"qh"CUDC"cpf"vjg"nkuv"qh"yjkej"ku" cxckncdng" qp" vjg" ygdukvg" qh" vjg"jvvr<11yyy0ugdk0iqx0kp1ugdkygd1jqog1nkuv1715512121Tgeqipkugf/Kpvgtogfkctkgu"
Urgekhkgf"Nqecvkqpu" Dkffkpi"egpvtgu"yjgtg"vjg"U{pfkecvg"ujcnn"ceegrv"Dkf"ewo"Crrnkecvkqp"Hqtou."c"nkuv"qh"yjkej"ku"kpenwfgf"kp"vjg"Dkf"ewo"Crrnkecvkqp"Hqto"
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Article 1.1 provides that the “Regulations contained in Table ‘F’ of Schedule I to the Companies Act, 2013 (the “Cev”), shall apply to the Company in so far as the same are not provided for or are not inconsistent with these Articles.”"
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Ctticle 4.6 provides that “Subject to the provisions of Sections 48 of the Act and other applicable law, if at any vkog"vjg"ujctg"ecrkvcn"qh"vjg"eqorcp{"ku"fkxkfgf"kpvq"fkhhgtgpv"encuugu"qh"ujctgu."vjg"tkijvu"cvvcejgf"vq"vjg"ujctgu"qh"cp{"encuu"oc{"dg"xctkgf"ykvj"vjg"eqpugpv"kp"ytkvkpi"qh"vjg"jqnfgtu"qh"pqv"nguu"vjcp"vjtgg/hqwtvju"qh"vjg"kuuwgf"ujctgu"qh"vjcv"encuu"qt"d{"ogcpu"qh"c"urgekcn"tguqnwvkqp"rcuugf"cv"c"ugrctcvg"oggvkpi"qh"vjg"jqnfgtu"qh"vjg"kuuwgf"ujctgu"qh"vjcv"encuu.—""
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Article 4.12 provides that “Swdlgev"vq"ugevkqp"83"qh"vjg"Cev."vjg"Eqorcp{"oc{."d{"qtfkpct{"tguqnwvkqp."cnvgt"kvu"Ogoqtcpfwo"qh"Cuuqekcvkqp"qh"vjg"Eqorcp{"hqt"vjg"rwtrqug"vq<"
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60340307 ecpegn"ujctgu"yjkej."cv"vjg"fcvg"qh"vjg"rcuukpi"qh"vjg"tguqnwvkqp"kp"vjcv"dgjcnh."jcxg"pqv"dggp"vcmgp"qt"citggf"vq"dg"vcmgp"d{"cp{"rgtuqp."cpf"fkokpkuj"vjg"coqwpv"qh"kvu"ujctg"ecrkvcn"d{"vjg"coqwpv"qh"the shares so cancelled.”"
""
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Ctvkeng" 6038" rtqxkdes that “Subject to provisions of Section 66 of the Act, the Company may, by a special resolution, reduce the Share Capital in any manner.”"
Article 4.17 provides that “Swdlgev"vq"vjg"rtqxkukqpu"qh"Ugevkqpu"8:"vq"92"qh"vjg"Cev."vjg"Eqorcp{"ujcnn"jcxg"vjg"rqygt"vq"dw{/dcem"kvu"qyp"ujctgu."yjgvjgt"qt"pqv"vjgtg"ku"cp{"eqpugswgpv"tgfwevkqp"qh"Ecrkvcn0"Kh"cpf"vq"vjg"gzvgpv"rgtokvvgf"d{"ncy."vjg"Eqorcp{"ujcnn"cnuq"jcxg"vjg"rqygt"vq"tg/issue the shares so bought back.”"
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Ctvkeng"60"35"provides that “Yjgtg"cv"cp{"vkog"vjg"Eqorcp{"rtqrqugu"vq"kpetgcug"kvu"uwduetkdgf"ecrkvcn"d{"vjg"kuuwg"qh"hwtvjgt"ujctgu."vjgp"uwej"ujctgu"ujcnn"dg"qhhgtgf—""603503 vq"rgtuqpu"yjq."cv"vjg"fcvg"qh"vjg"qhhgt."ctg"jqnfgtu"qh"gswkv{"ujctgu"qh"vjg"Eqorcp{"kp"rtqrqtvkqp."cu"
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60350304 vjg"qhhgt"chqtguckf"ujcnn"dg"fggogf"vq"kpenwfg"c"tkijv"gzgtekucdng"d{"vjg"rgtuqp"eqpegtpgf"vq"tgpqwpeg"vjg"ujctgu"qhhgtgf"vq"jko"qt"cp{"qh"vjgo"kp"hcxqwt"qh"cp{"qvjgt"rgtuqp="cpf"vjg"pqvkeg"tghgttgf"vq"cdqxg"ujcnn"eqpvckp"c"uvcvgogpv"qh"vjku"tkijv0"Rtqxkfgf"vjcv"vjg"Fktgevqtu"oc{"fgenkpg."ykvjqwv"cuukipkpi"cp{"tgcuqp"vq"cnnqv"cp{"ujctgu"vq"cp{"rgtuqp"kp"yjqug"hcxqwt"cp{"ogodgt"oc{"tgpqwpeg"vjg"ujctgu"qhhgtgf"vq"jko="""
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603504 to employees under a scheme of employees’ stock option, subject to special resolution passed by ogodgtu"qh"vjg"Eqorcp{"cpf"uwdlgev"vq"uwej"eqpfkvkqpu"cu"urgekhkgf"kp"vjg"Eqorcpkgu"*Ujctg"Ecrkvcn"cpf"Fgdgpvwtgu+"Twngu."4236"="qt"""60350403 vq"cp{"rgtuqpu."kh"kv"ku"cwvjqtkugf"d{"c"urgekcn"tguqnwvkqp."yjgvjgt"qt"pqv"vjqug"rgtuqpu"kpenwfg"
vjg" rgtuqpu" tghgttgf" vq" kp" Ctvkeng" 60350303" qt" Ctvkeng" 60350304." gkvjgt" hqt" ecuj" qt" hqt" c"eqpukfgtcvkqp"qvjgt"vjcp"ecuj."uwdlgev"vq"vjg"eqornkcpeg"ykvj"vjg"crrnkecdng"rtqxkukqpu"qh" vjg"Act.”"
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*c+ rc{kpi"wr"cp{"coqwpvu"hqt"vjg"vkog"dgkpi"wprckf"qp"cp{"Ujctgu"jgnf"d{"uwej"ogodgtu"tgurgevkxgn{="
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Article 7.1 provides that “The Board may, from time to time, make calls upon the members in respect of any oqpkgu"wprckf"qp"vjgkt"ujctgu"*yjgvjgt"qp"ceeqwpv"qh"vjg"pqokpcn"xcnwg"qh"vjg"ujctgu"qt"d{"yc{"qh"rtgokwo+"cpf"not by the conditions of allotment thereof made payable at fixed times.” "
Article 7.2 provides that “No Call shall exceed one/fourth of the nominal value of the Share of the Company.”""
Article 7.4 provides that “Each member shall, subject to receiving at least fourteen days’ notice specifying the vkog"qt"vkogu"cpf"rnceg"qh"rc{ogpv."rc{"vq"vjg"eqorcp{."cv"vjg"vkog"qt"vkogu"cpf"rnceg"uq"urgekhkgf."vjg"coqwpv"called on his or her shares.”"
Article 7.5 provides that “A call may be revoked or postponed at the"discretion of the Board.”"
Article 7.7 provides that “The joint holders of a share shall be jointly and severally liable to pay all calls in respect thereof.”"
Article 7.8 provides that “If a sum called in respect of a share is not paid before or on the day"crrqkpvgf" hqt"rc{ogpv" vjgtgqh." vjg"rgtuqp" htqo"yjqo" vjg"uwo" ku"fwg" ujcnn"rc{" kpvgtguv" vjgtgqp" htqo" vjg"fc{"crrqkpvgf" hqt"rc{ogpv"vjgtgqh"vq"vjg"vkog"qh"cevwcn"rc{ogpv"cv"vgp"rgt"egpv0"rgt"cppwo"qt"cv"uwej"nqygt"tcvg."kh"cp{."cu"vjg"Dqctf"may determine.” "
Article 7.9 provides that “The Board shall be at liberty to waive payment of any such interest wholly or in part.”"
Article 7.10 provides that “Any sum which by the terms of issue of a share becomes payable on allotment or at cp{"hkzgf"fcvg."yjgvjgt"qp"ceeqwpv"qh"vjg"pqokpcn"xcnwg"qh"vjg"ujctg"qt"d{"yc{"qh"rtgokwo."ujcnn."hqt"vjg"rwtrqugu"qh"vjgug"tgiwncvkqpu."dg"fggogf"vq"dg"c"ecnn"fwn{"ocfg"cpf"rc{cdng"qp"vjg"fcvg"qp"yjkej"d{"vjg"vgtou"qh"kuuwg"such sum becomes payable.”"
Article 7.11 provides that “Fourteen days’ notice at least of every call made payable otherwise than on allotment ujcnn"dg"ikxgp"d{"vjg"Eqorcp{"kp"vjg"ocppgt"jgtgkpchvgt"rtqxkfgf"hqt"vjg"ikxkpi"qh"pqvkegu"urgekh{kpi"vjg"vkog"cpf"rnceg"qh"rc{ogpv."cpf"vjg"rgtuqp"vq"yjqo"uwej"ecnn"ujcnn"dg"rckf0"Rtqxkfgf"vjcv"dghqtg"vjg"vkog"hqt"rc{ogpv"qh"uwej"ecnn"vjg"Dqctf"oc{"d{"pqvkeg"ikxgp"kp"vjg"ocppgt"jgtgkpchvgt"rtqxkfgf"tgxqmg"vjg"ucog0"Vjg"Dqctf"oc{."htqo"vkog"vq"vkog"cv"vjgkt"fkuetgvkqp."gzvgpf"vjg"vkog"hkzgf"hqt"vjg"rc{ogpv"qh"cp{"ecnn."cpf"oc{"gzvgpf"uwej"vkog"cu"vq"cnn"qt"cp{"qh"vjg"ogodgtu"yjq."vjg"Dqctf"oc{"fggo"hcktn{"gpvkvngf"vq"uwej"gzvgpukqp="dwv"pq"ogodgt"ujcnn"be entitled to any such extension, except as a matter of grace and favour.”"
Article 7.13 provides that “The Board may, if it thinku"hkv."uwdlgev"vq"vjg"rtqxkukqpu"qh"vjg"Cev"tgegkxg"htqo"cp{"ogodgt"yknnkpi"vq"cfxcpeg"vjg"ucog."cnn"qt"cp{"rctv"qh"vjg"oqpkgu"wpecnngf"cpf"wprckf"wrqp"cp{"ujctgu"jgnf"d{"him or her.”"
Article 7.14 provides that “Upon the amount so paid or satisfied in advapeg."qt"uq"owej"vjgtgqh"cu"htqo"vkog"vq"vkog"cpf"cv"cp{"vkog"vjgtgchvgt"gzeggfu"vjg"coqwpv"qh"vjg"ecnnu"vjgp"ocfg"wrqp"cpf"fwg"kp"tgurgev"qh"vjg"Ujctgu"kp"tgurgev"qh"yjkej"uwej"cfxcpeg"jcu"dggp"ocfg."vjg"Eqorcp{"oc{"rc{"kpvgtguv"cv"uwej"tcvg."cu"vjg"Ujctgjqnfgt"rc{kpi"uwej"uwo"kp"cfxcpeg"cpf"vjg"Dqctf"citgg"wrqp."rtqxkfgf"vjcv"vjg"oqpg{"rckf"kp"cfxcpeg"qh"ecnnu"ujcnn"pqv"confer a right to participate in profits or Dividend. The Directors may at any time repay the amount so advanced.”"
Ctvkeng"9037"rtqxkfgu"vhat “The member making such advance shall not, however, be entitled to any voting rights kp" tgurgev"qh" vjg"oqpg{u" uq" cfxcpegf"d{"jko" wpvkn" vjg" ucog"yqwnf."dwv" hqt" uwej"rc{ogpv."dgeqog"rtgugpvn{"payable.” "
Article 7.16 provides that “The provisions of these"Ctvkengu"ujcnn"owvcvku"owvcpfku"crrn{"vq"vjg"ecnnu"qp"fgdgpvwtgu"of the Company.”"
""
"
598""
Hqthgkvwtg."Uwttgpfgt"cpf"nkgp"
Article 8.1 provides that “Kh"cp{"ogodgt"hcknu"vq"rc{"cp{"oqpg{"fwg"htqo"jko" kp"tgurgev"qh"cp{"ecnn"ocfg"qt"coqwpv"qt"kpuvcnogpv"cu"rtqxkfgf"kp"vjgug"Ctvkengu"qp"qt"dghqtg"vjg"fc{"crrqkpvgf"hqt"rc{ogpv"qh"vjg"ucog."qt"cp{"uwej"gzvgpukqp"vjgtgqh"cu"chqtguckf"qt"cp{"kpvgtguv"fwg"qp"uwej"ecnn"qt"coqwpv"qt"kpuvcnogpv"qt"cp{"gzrgpugu"vjcv"oc{"jcxg"dggp"kpewttgf"vjgtgqp."vjg"Fktgevqtu"qt"cp{"rgtuqp"cwvjqtkugf"d{"vjgo"hqt"vjg"rwtrqug"oc{."cv"cp{"vkog"vjgtgchvgt."fwtkpi"uwej"vkog"cu"uwej"oqpg{"tgockpu"wprckf."qt"c"lwfigogpv"qt"c"fgetgg"kp"tgurgev"vjgtgqh"tgockpu"wpucvkuhkgf"kp"yjqng"qt"kp"rctv."ugtxg"c"pqvkeg"kp"vjg"ocppgt"jgtgkpchvgt"rtqxkfgf"hqt"vjg"ugtxkpi"qh"pqvkegu"qp"uwej"ogodgt"qt"cp{"qh"jku"ngicn"tgrtgugpvcvkxgu"qt"cp{"qh"vjg"rgtuqpu"gpvkvngf"vq"vjg"ujctg"d{"vtcpuokuukqp."tgswktkpi"rc{ogpv"qh" vjg"oqpg{"rc{cdng" kp"tgurgev"qh" uwej"ujctg." vqigvjgt"ykvj"uwej" kpvgtguv"cpf"cnn"gzrgpugu"*ngicn"qt"qvjgtykug+"kpewttgf"d{"vjg"Eqorcp{"d{"tgcuqp"qh"uwej"pqp/payment.”"
Article 8.3 provides that “Kh"vjg"tgswktgogpvu"qh"cp{"uwej"pqvkeg"cu"chqtguckf"ctg"pqv"eqornkgf"ykvj."gxgt{"qt"cp{"ujctg"kp"tgurgev"qh"yjkej"vjg"pqvkeg"ku"ikxgp"oc{."cv"cp{"vkog"vjgtgchvgt"dghqtg"rc{ogpv"qh"cnn"ecnnu"qt"coqwpvu"qt"kpuvcnnogpvu."kpvgtguv"cpf"gzrgpugu"fwg"kp"tgurgev"vjgtgqh."dg"hqthgkvgf"d{"c"tguqnwvkqp"qh"vjg"Dqctf"vq"vjcv"ghhgev0"Uwej"hqthgkvwtg"ujcnn"kpenwfg"cnn"fkxkfgpfu"cpf"dqpwugu"fgenctgf"kp"tgurgev"qh"vjg"hqthgkvgf"ujctgu"cpf"pqv"cevwcnn{"paid before the forfeiture.”"
Article 8.9 provides “The Board may, subject to the provision of the Act, accept a surrender of any share from or by any member desirous of surrendering those on such terms as they think fit.”"
Ctvkeng":033"rtqxkfgs that “The Company shall have a first and paramount lien upon all the shares or debentures pqv"dgkpi"hwnn{"rckf/wr"ujctgu"qt"fgdgpvwtgu."tgikuvgtgf"kp"vjg"pcog"qh"gcej"ogodgt"*yjgvjgt"uqngn{"qt"lqkpvn{"ykvj"cpqvjgt"qt"qvjgtu+"cpf"wrqp"vjg"rtqeggfu"qh"ucng"vjgtgqh."hqt"cnn"oqpg{u"*yjgvjgt"rtgugpvn{"rc{cdng"qt"pqv+"ecnngf"qt"rc{cdng"cv"c"hkzgf"vkog"kp"tgurgev"qh"uwej"ujctgu1"fgdgpvwtgu"cpf"pq"gswkvcdng"kpvgtguv"kp"cp{"ujctgu"ujcnn"dg"etgcvgf"gzegrv"wrqp"vjg"hqqvkpi"cpf"eqpfkvkqp"vjcv"vjku"Ctvkeng"jgtgqh"ku"vq"jcxg"hwnn"ghhgev0"Cp{"uwej"nkgp"ujcnn"gzvgpf" vq" cnn" fkxkfgpfu" cpf"dqpwugu" htqo" vkog" vq" vkog" fgenctgf" kp" tgurgev" qh" uwej" ujctgu1fgdgpvwtgu0" Wpnguu"qvjgtykug"citggf."vjg"tgikuvtcvkqp"qh"c"vtcpuhgt"qh"ujctgu1fgdgpvwtgu"ujcnn"qrgtcvg"cu"c"yckxgt"qh"vjg"Eqorcny’s nkgp."kh"cp{."qp"uwej"ujctgu1fgdgpvwtgu0"Vjg"Dqctf"oc{"cv"cp{"vkog"fgenctg"cp{"ujctgu"qt"fgdgpvwtgu"vq"dg"gzgorv."wholly or partially from the provisions of this Article.”"
Article 8.12 provides that “For the purpose of enforcing such lien, the Directotu"oc{"ugnn."vjg"ujctgu"uwdlgev"vjgtgvq"kp"uwej"ocppgt"cu" vjg{" vjkpm"hkv"cpf" vtcpuhgt" vjg"ucog" vq" vjg"pcog"qh" vjg"rwtejcugt."ykvjqwv"cp{"eqpugpv"cpf"pqvykvjuvcpfkpi"cp{"qrrqukvkqp"qp" vjg"rctv"qh" vjg" kpfgdvgf"ogodgt"qt"cp{"qvjgt"rgtuqp"qt"rgtuqpu" kpvgtguvgf"vjgtgkp"cpf"c"eqorngvg"vkvng"vq"vjg"ujctgu"yjkej"ujcnn"dg"uqnf"cpf"vtcpuhgttgf"ujcnn"dg"ceswktgf"d{"vjg"rwtejcugt."d{"xktvwg"qh"uwej"ucng"cpf"vtcpuhgt."cickpuv"uwej"kpfgdvgf"ogodgt"cpf"cnn"rgtuqpu"enckokpi"ykvj"qt"wpfgt"jko"yjgvjgt"jg"oc{"dg"kpfgdvgf"vq"vjg"Eqorcp{"kp"rqkpv"qh"hcev"qt"pqv0"Dwv"pq"uwej"ucng"ujcnn"dg"ocfg"wpvkn"pqvkeg"kp"ytkvkpi"uvcvkpi"vjg"coqwpv"fwg"qt"urgekh{kpi"vjg"nkcdknkv{"qh"gpicigogpv"cpf"fgocpfkpi"rc{ogpv"qt"hwnhknnogpv"qt"fkuejctig"vjgtgqh"cpf"qh"vjg"kpvgpvkqp"vq"ugnn" kp"fghcwnv"ujcnn"jcxg"dggp"ugtxgf"wrqp"uwej"ogodgt"qt"jku"jgktu."gzgewvqtu."cfokpkuvtcvqtu."tgrtgugpvcvkxgu"qt"rgtuqpu"cpf"fghcwnv"ujcnn"jcxg"dggp"ocfg"d{"jko"qt"vjgo"kp"rc{ogpv."hwnhknnogpv"qt"fkuejctig"qh"uwej"fgdvu."nkcdknkvkgu"qt"gpicigogpvu"hqt"ugxgp"fc{u"chvgt"uwch notice.”"
Vtcpuhgt"cpf"Vtcpuokuukqp"qh"Ujctgu"
Articles 9.1 provides that “The Eqorcp{"ujcnn"ockpvckp"c"‘Register of Transfers’ and therein shall be fairly and fkuvkpevn{"gpvgtgf" vjg"rctvkewnctu"qh" gxgt{" vtcpuhgt"qt" vtcpuokuukqp"qh" cp{" ujctg"jgnf" kp" c"ocvgtkcn" hqto" kp" vjg"Eqorcp{0”"
Ctvkeng";04"rtqxkfgu"vjcv"“Kp"ceeqtfcpeg"ykvj"Ugevkqp"78"qh"vjg"Cev."vjg"kpuvtwogpv"qh"vtcpuhgt"ujcnn"dg"kp"ytkvkpi"cpf"kp"eqornkcpeg"ykvj"crrnkecdng"ncy"ykvj"tgurgev"vq"cnn"vtcpuhgt"qh"ujctgu"jgnf"kp"rj{ukecn"hqto"cpf"tgikuvtcvkqp"vjgtgqh0"Uwdlgev"vq"vjg"rtqxkukqpu"qh"vjg"Cev."pq"vtcpuhgt"ujcnn"dg"tgikuvgtgf"wpnguu"c"rtqrgt"kpuvtwogpv"qh"vtcpuhgt"jcu"dggp"fgnkxgtgf" vq" vjg"Eqorcp{0"Gxgt{" kpuvtwogpv"qh" vtcpuhgt" *yjkej"ujcnn"dg" kp" vjg" hqto" urgekhkgf" kp" vjg"Twngu+"ujcnn"dg"fwn{"uvcorgf."fcvgf"cpf"ujcnn"dg"gzgewvgf"d{"qt"qp"dgjcnh"qh"vjg"vtcpuhgtqt"cpf"vjg"vtcpuhgtgg"cpf"kp"vjg"ecug"qh"c"ujctg"jgnf"d{"vyq"qt"oqtg"jqnfgtu"qt"vq"dg"vtcpuhgttgf"vq"vjg"lqkpv"pcogu"qh"vyq"qt"oqtg"vtcpuhgtggu"d{"cnn"uwej"lqkpv"jqnfgtu"qt"d{"cnn"uwej"lqkpv"vtcpuhgtggu."cu"vjg"ecug"oc{"dg."ugxgtcn"gzgewvqtu"qt"cfokpkuvtcvqtu"qh"c"fgegcugf"ogodgt"rtqrqukpi"vq"vtcpuhgt"vjg"ujctgu"tgikuvgtgf"kp"vjg"pcog"qh"uwej"fgegcugf"ogodgt"ujcnn"cnn"ukip"vjg"kpuvtwogpv"qh"vtcpuhgt"kp"tgurgev"qh"vjg"ujctg"cu"kh"vjg{"ygtg"vjg"lqkpv/jqnfgtu"qh"vjg"ujctg0"Vjg"kpuvtwogpv"qh"vtcpuhgt"ujcnn"urgekh{"vjg"pcog."cfftguu"cpf"qeewrcvkqp."kh"cp{."qh"vjg"vtcpuhgtgg0"C"eqooqp"hqto"qh"vtcpuhgt"ujcnn"dg"wugf"hqt"vtcpuhgt"qh"ujctgu0"Kp"ecug"qh"vtcpuhgt"qh"ujctgu"yjgtg"vjg"Eqorcp{"jcu"pqv"kuuwgf"cp{"egtvkhkecvgu"cpf"where the shares are held in dematerialized form, the provisions of the Depositories Act shall apply.” "
Article 9.3 provides that “In the case of the death of any one or more of the members named in the Register as the lqkpv/jqnfgtu"qh" cp{"ujctg." vjg" uwtxkxqt"qt" uwtxkxqtu" ujcnn"dg" vjg"qpn{"rgtuqpu" tgeqipkugf"d{" vjg"Eqorcp{"cu"
""
"
599""
jcxkpi"cp{"vkvng"vq"qt"kpvgtguv"kp"uwej"ujctg."dwv"pqvjkpi"jgtgkp"eqpvckpgf"ujcnn"dg"vcmgp"vq"tgngcug"vjg"guvcvg"qh"vjg"fgegcugf"lqkpv/jqnfgt"htqo"cp{"nkcdknkv{"qp"the shares held by him jointly with any other person.”"
Article 9.5 provides that “Subject to the provisions of these Articles, any person to whom the right to any share jcu"dggp"vtcpuokvvgf"kp"eqpugswgpeg"qh"vjg"fgcvj"qt"kpuqnxgpe{"qh"cp{"ogodgt"qt"qvjgtykug"d{"qrgtcvkqp"qh"ncy"oc{."ykvj"vjg"eqpugpv"qh"vjg"Dqctf"*yjkej"vjg{"ujcnn"pqv"dg"wpfgt"cp{"qdnkicvkqp"vq"ikxg+"cpf"wrqp"jku"rtqfwekpi"uwej"gxkfgpeg"vjcv"jg"uwuvckpu"vjg"ejctcevgt"kp"tgurgev"qh"yjkej"jg"rtqrqugu"vq"cev"wpfgt"vjg"Ctvkeng"cpf"qh"jku"vkvng"cu"vjg"Fktgevqtu"vjkpm"uwhhkekgpv"dg"tgikuvgtgf"cu"c"ogodgt"kp"tgurgev"qh"uwej"ujctgu"0"Vjku"encwug"ku"jgtgkpchvgt"referred to as the ‘transmission clause’. A transfer of the share or other interest in the Company of a deceased ogodgt"vjgtgqh"ocfg"d{"jku"ngicn"tgrtgugpvcvkxg"ujcnn."cnvjqwij"vjg"ngicn"tgrtgugpvcvkxg"ku"pqv"jkougnh"c"ogodgt"be as valid as if he had been a member at the time of effecting the transmission.”"
Article 9.7 provides that “C"rgtuqp"gpvkvngf"vq"ujctgu"d{"vtcpuokuukqp"oc{."wpvkn"vjg"Fktgevqtu"qvjgtykug"fgvgtokpg."tgegkxg"cpf"ikxg"fkuejctig"hqt"cp{"fkxkfgpfu."dqpwugu"qt"qvjgt"oqpg{u"rc{cdng"kp"tgurgev"qh"vjg"ujctg."dwv"jg"ujcnn"pqv"dg"gpvkvngf"vq"xqvg"cv"cp{"oggvkpiu"qh"vjg"Eqorcp{"cpf"vq"cp{"qh"vjg"tkijvu"cpf"rtkxkngigu"qh"c"ogodgt."wpnguu"and until he shall have become a member in respect of the shares.”"
Article 9.10 provides that “Uwdlgev"vq"ugevkqp"7:"cpf"7;"cpf"qvjgt"crrnkecdng"rtqxkukqpu"qh"vjg"Cev."vjg"Dqctf"oc{."cv"kvu"cduqnwvg"cpf"wpeqpvtqnngf"fkuetgvkqp"cpf"d{"ikxkpi"tgcuqpu."fgenkpg"vq"tgikuvgt"qt"cempqyngfig"cp{"vtcpuhgt"qt" vtcpuokuukqp" qh" ujctgu" yjgvjgt" hwnn{" rckf" qt" pqv" cpf" vjg" tkijv" qh" tghwucn." ujcnn" pqv" dg" chhgevgf" d{" vjg"ektewouvcpegu"vjcv"vjg"rtqrqugf"vtcpuhgtgg"ku"cntgcf{"c"ogodgt"qh"vjg"Eqorcp{"dwv"kp"uwej"ecugu."vjg"Fktgevqtu"ujcnn"ykvjkp"qpg"oqpvj"htqo"vjg"fcvg"qp"yjkej"vjg"kpuvtwogpv"qh"vtcpuhgt"ycu"nqfigf"ykvj"vjg"Eqorcp{."ugpf"vq"vjg"vtcpuhgtgg"cpf"vtcpuhgtqt"pqvkeg"qh" vjg"tghwucn"vq"tgikuvgt"uwej"vtcpuhgt"rtqxkfgf"vjcv"tgikuvtcvkqp"qh" vtcpuhgt"ujcnn"pqv"dg"tghwugf"qp"vjg"itqwpf"qh"vjg"vtcpuhgtqt"dgkpi"gkvjgt"cnqpg"qt"lqkpvn{"ykvj"cp{"qvjgt"rgtuqp"qt"rgtuqpu"kpfgdvgf"vq"vjg"Eqorcp{"qp"cp{"ceeqwpv"yjcvuqgxgt"gzegrv"yjgp"vjg"Eqorcp{"jcu"c"nkgp"qp"vjg"ujctgu0"Vtcpuhgt"qh"ujctgu1"fgdgpvwtgu"kp"yjcvgxgt"nqv"ujcnn"pqv"dg"tefused.”""
Article 9.11 provides that “The Transferor shall be deemed to remain the holder of the shares until the name of the transferee shall be entered in the Register of Members.”"
Eqpxgpkpi"Igpgtcn"Oggvkpiu""
Ctvkeng"3304"rtqxkfgu"vjcv"“Vjg"Fktgevqtu"oc{"ecnn"Gzvtcqtfkpct{"Igpgtcn"Oggvkpiu"qh"vjg"Eqorcp{"yjgpgxgt"they think fit and such meetings shall be held at such place and time as the Directors think fit.”"
Ctvkeng"3306"rtqxkfgu"vjcv"–"
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330604""Vjg"tgswkukvkqp"ujcnn"ugv/qwv"vjg"ocvvgtu"hqt"vjg"eqpukfgtcvkqp"qh"yjkej"vjg"oggvkpi"ku"vq"dg"ecnngf"ujcnn"dg"ukipgf"d{"vjg"tgswkukvkqpkuvu"cpf"ujcnn"dg"ugpv"vq"vjg"Tgikuvgtgf"Qhhkeg"qh"vjg"Eqorcp{0""
330605 Vjg" tgswkukvkqp"oc{" eqpukuv" qh" ugxgtcn" fqewogpvu" kp" nkmg" hqto" gcej" ukipgf" d{" qpg" qt"oqtg"tgswkukvkqpkuvu0"
330606" "Vjg"pwodgt"qh"ogodgtu"gpvkvngf" vq"tgswkukvkqp"c"oggvkpi" kp"tgictf" vq"cp{"ocvvgt"ujcnn"dg"uwej"pwodgt"qh" vjgo" cu"jqnf"dqvj"qp" vjg"fcvg"qh" uwej" tgswkukvkqp"cpf"qp" vjg"fcvg"qh" tgegkrv"qh" vjg"tgswkukvkqp"pqv"nguu"vjcp"qpg/vgpvj"qh"uwej"qh"vjg"rckf/wr"ecrkvcn"qh"vjg"Eqorcp{"cu"cv"vjcv"fcvg"ecttkgu"vjg"tkijv"qh"xqvkpi"kp"tgictf"vq"vjcv"ocvvgt0”"
Xqvkpi"Tkijvu"cpf"Rtqz{"
Article 14.1 provides that “No member shall be entitled to exercise any voting right on any question either rgtuqpcnn{"qt"d{"rtqz{"qt"wrqp"rqnn"*kpenwfkpi"xqvkpi"d{"gngevtqpke"ogcpu+"kp"tgurgev"qh"cp{"ujctgu"tgikuvgtgf"kp"jku"pcog"qp"yjkej"cp{"ecnnu"qt"qvjgt"uwou"rtgugpvn{"rc{cdng"d{"jko"jcxg"pqv"dggp"rckf"qt"kp"tgictf"vq"yjkej"vjg"Company has or has exercised any right of lien.”"
Article 14.6 provides that “Subject and withouv"rtglwfkeg"vq"cp{"urgekcn"rtkxkngigu"qt"tguvtkevkqpu"qt"eqpfkvkqpu"hqt"vjg"vkog"dgkpi"cvvcejgf"vq"qt"chhgevkpi"vjg"rtghgtgpeg"qt"qvjgt"urgekcn"encuugu"qh"ujctgu."kh"cp{."kuuwgf"d{"cpf"hqt"vjg"vkog"dgkpi"hqtokpi"rctv"qh"vjg"ecrkvcn"qh"vjg"Eqorcp{"gxgt{"ogodgt."gpvkvngf"vq"xqvg"wpfgt"vjg"rtqxkukqpu"qh"vjgug"rtgugpvu"cpf"pqv"fkuswcnkhkgf"d{"vjg"rtqxkukqpu"qh"Ctvkengu"qt"d{"cp{"qvjgt"Ctvkeng"ujcnn"qp"c"ujqy"qh"jcpfu"jcxg"qpg"xqvg"cpf"wrqp"c"rqnn"gxgt{"ogodgt."rtgugpv"kp"rgtuqp"qt"rtqz{"qt"cigpv"fwn{"cwvjqtkugf"d{"c"rqygt/qh/cvvqtpg{"qt"tgrtgugpvcvkxg"fwn{"cwvjqtkugf"cpf"pqv"fkuswcnkhkgf"cu"chqtguckf."ujcnn"jcxg"xqvkpi"tkijvu"kp"rtqrqtvkqp"vq"jku"ujctg"qh"vjg"rckf/wr"gswkv{"ecrkvcn"qh"vjg"Eqorcp{"uwdlgev"jqygxgt"vq"cp{"nkokvu"korqugf"d{"ncy0"Dwv"pq"ogodgt"ujcnn"have voting right in respect of any moneys paid in advance as provided by these Articles.”"
""
"
59:""
Article 14.9 provides that “Any member entitled to attend and vote at a meeting of the Company shall be entitled vq"crrqkpv"cpqvjgt"rgtuqp"*yjgvjgt"c"ogodgt"qt"pqv+"cu"jku"rtqz{"vq"cvvgpf"cpf"xqvg"kpuvgcf"qh"jkougnh"dwv"c"rtqz{"uq"crrqkpvgf"ujcnn"pqv"jcxg"cp{"tkijv"vq"urgcm"cv"vjg"oggvkpi"cpf"ujcnn"pqv"dg"gpvkvngf"vq"xqvg"gzegrv"qp"c"rqnn0"C"rgtuqp"ujcnn"*c+"pqv"cev"cu"rtqz{"hqt"oqtg"vjcp"72"Ogodgtu"cpf"jqnfkpi"kp"ciitgicvg"pqv"oqtg"vjcp"32'"qh"vjg"vqvcn"ujctg"ecrkvcn"qh"vjg"Eqorcp{="*d+"pqv"cev"cu"rtqz{"hqt"oqtg"vjcp"qpg"Ogodgt."kh"vjcv"Ogodgt"jqnfu"oqtg"than 10% of the total share capital of the Company.”"
Article 14.10 provides that “The instrument appointing a proxy" ujcnn"dg" kp"ytkvkpi"cpf"ujcnn"dg"ukipgf"d{"vjg"crrqkpvgt"qt"jku"cvvqtpg{"fwn{"cwvjqtkugf"kp"ytkvkpi0"Kh"vjg"crrqkpvgt"ku"c"Dqf{"Eqtrqtcvg"uwej"kpuvtwogpv"ujcnn"dg"wpfgt"kvu"ugcn"qt"dg"ukipgf"d{"cp"qhhkegt"qt"cp"cvvqtpg{"fwn{"cwvjqtkugf"d{"kv."qt"d{"vjg"rgtuqpu"cwvjqtkugf"vq"cev"cu"vjg"tgrtgugpvcvkxg"qh"uwej"eqorcp{"cu"rgt"vjg"rtqxkukqp"qh"vjg"Cev"cpf"vjgug"Ctvkengu0"Cp{"kpuvtwogpv"crrqkpvkpi"c"rtqz{"vq"xqvg"cv"c"oggvkpi"ujcnn"dg"fggogf"vq"kpenwfg"vjg"rqygt"vq"fgocpf"qt"lqkp"kp"vjg"fgocpf"hqt"c"rqnn"qp"dgjclf of the appointer, where a poll has not been ordered to be carried out electronically.”"
Article 14.11 provides that “No instrument of proxy shall be treated as valid and no person shall be allowed to xqvg"qt"cev"cu"rtqz{"cv"cp{"oggvkpi"wpfgt"cp"kpuvtwogpv"qh"rtqz{."wpnguu"uwej"kpuvtwogpv"qh"rtqz{"cpf"rqygt/qh"cvvqtpg{"qt"qvjgt"cwvjqtkv{"*kh"cp{+"wpfgt"yjkej"kv"ku"ukipgf"qt"c"pqvctkcnn{"egtvkhkgf"eqr{"qh"vjcv"rqygt"qt"cwvjqtkv{"ujcnn" jcxg"dggp"fgrqukvgf" cv" vjg"Tgikuvgtgf"Qhhkeg"qh" vjg" Eqorcp{" cv" ngcuv" hqtv{/gkijv" jqwtu"dghqtg" vjg" vkog"crrqkpvgf"hqt"jqnfkpi"vjg"oggvkpi"qt"cflqwtpgf"oggvkpi"cv"yjkej"vjg"rgtuqpu"pcogf"kp"uwej"kpuvtwogpv"rtqrqugu"vq"xqvg0"Cp"kpuvtwogpv"crrqkpvkpi"c"rtqz{"qt"cp"cvvqtpg{"rgtocpgpvn{"qt"hqt"c"egtvckp"rgtkqf"qpeg"tgikuvgtgf"ykvj"vjg"Eqorcp{"pggf"pqv"dg"cickp"tgikuvgtgf"dghqtg"gcej"uweeguukxg"oggvkpi"cpf"ujcnn"dg"kp"hqteg"wpvkn"vjg"ucog"ujcnn"dg"tgxqmgf0"Pqvykvjuvcpfkpi"vjcv"c"rqygt/qh/cvvqtpg{"qt"qvjgt"cwvjqtkv{"jcu"dggp"tgikuvgtgf"kp"vjg"tgeqtfu"qh"vjg"Eqorcp{."vjg"Eqorcp{"oc{"d{"pqvkeg"kp"ytkvkpi"cfftguugf"vq"vjg"ogodgt"qt"vq"cvvqtpg{"cv"ngcuv"ugxgp"fc{u"dghqtg"vjg"fcvg"qh"c"oggvkpi"tgswktg"jko"vq"rtqfweg"vjg"qtkikpcn"rqygt/qh"cvvqtpg{"qt"cwvjqtkv{"cpf"wpnguu"vjg"ucog"ku"vjgtgwrqp"fgrqukvgf"ykvj"vjg"Eqorcp{"vjg"cvvqtpg{"ujcnn"pqv"dg"gpvkvngf"vq"xqvg"cv"uwej"oggvkpi"wpnguu"vjg"Fktgevqtu"kp"vjgkt"cduqnwvg"fkuetgvkqp"gzewug"uwej"pqp/production and deposit.”"
Article 14.14 provides that “A vote given in pursuance of an instrument of proxy shall be valid, notwithstanding vjg"rtgxkqwu"fgcvj"qh" vjg"rtkpekrcn"qt" vjg"tgxqecvkqp"qh" vjg"rtqz{"qt"cp{"rqygt/qh/cvvqtpg{"wpfgt"yjkej"uwej"rtqz{"ycu"ukipgf"qt" vjg" vtcpuhgt"qh" vjg"ujctgu" kp"tgurgev"qh"yjkej" vjg"xqvg" ku"ikxgp"rtqxkfgf"pq" kpvkocvkqp" kp"ytkvkpi"qh" vjg"fgcvj." tgxqecvkqp"qt" vtcpuhgt" ujcnn"jcxg"dggp"tgegkxgf"cv" vjg"Tgikuvgtgf"Qhhkeg"qh" vjg"Eqorcp{"before the vote is given.”"
Article 14.15 provides that “No objection shall be made to the validity of any vote except at the meeting or cflqwtpgf"oggvkpi"qt"rqnn"cv"yjkej"uwej"xqvg"ujcnn"dg"vgpfgtgf"cpf"gxgt{"xqvg"yjgvjgt"ikxgp"rgtuqpcnn{"qt"d{"rtqz{."cpf"pqv"fkucnnqygf"cv"uwej"oggvkpi"qt"rqnn."ujcnn"dg"fggogf"xcnkf"hqt"cnn"rwtrqugu"qh"uwej"oggvkpi"qt"rqnn"whatsoever.”"
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Article 15.1 provides that “Vjg"Eqorcp{"kp"Igpgtcn"Oggvkpi"oc{"fgenctg"c"fkxkfgpf"vq"dg"rckf"vq"vjg"ogodgtu"according to their respective rights and interests in the profits, and may fix the time for the payment thereof.”"
Article 15.3 provides that “No larger dividend shall be declared than is recommended by the Directors, but vjg"Company in General Meeting may declare a smaller dividend.”"
Article 15.7 provides that the “Directors may, from time to time, declare and pay to the members such interim dividend as in their judgment the position of the Company justifies.”"
Ctvkeng"370:"rtqxkfgu"vjcv"“Pq"ogodgt"ujcnn"dg"gpvkvngf"vq"tgegkxg"rc{ogpv"qh"cp{"fkxkfgpf"kp"tgurgev"qh"cp{"ujctg"qt"ujctgu"qp"yjkej"vjg"Eqorcp{"jcu"c"nkgp."qt"yjknuv"cp{"coqwpv"fwg"qt"qykpi"htqo"vkog"vq"vkog"vq"vjg"Eqorcp{."gkvjgt"cnqpg"qt"lqkpvn{"ykvj"cp{"qvjgt"rgtuqp"qt"rgtuqpu."kp"tgurgev"qh"uwej"ujctg"qt"ujctgu."qt"qp"cp{"qvjgt"ceeqwpv"yjcvuqgxgt." tgockpu" wprckf." cpf" vjg" Fktgevqtu" oc{" tgvckp." crrn{" cpf" cflwuv" uwej" fkxkfgpf" kp" qt" vqyctfu"ucvkuhcevkqp"qh"cnn"fgdvu."nkcdknkvkgu."qt"gpicigogpvu"kp"tgurgev"qh"yjkej"vjg"nkgp"gzkuvu."cpf"qh"cnn"uwej"oqpg{"fwg"as aforesaid.”"
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Article 17.1 provides that “The number of Directors shall not be less than four and not more than fifteen Directors, ykvj"cv"ngcuv"qpg"yqocp"Fktgevqt0"Vjg"Eqorcp{"ujcnn."uwdlgev"vq"vjg"rtqxkukqpu"qh"vjg"Cev."jcxg"vjg"rqygt"vq"increase the number of Directors beyond 15 after passing a special resolution.” "
Ctvkeng"390304"rtqxkfgu"vjcv"“Uwdlgev" vq"vjg"Cev"cpf"qvjgt"crrnkecdng"ncy."cp{"Ujctgjqnfgt" yjq."vqigvjgt"ykvj"Chhknkcvgu."jqnfu"vgp"rgt"egpv0"*32'+"qt"oqtg"qh"vjg"qwvuvcpfkpi"Gswkv{"Ujctg"Ecrkvcn"qh"vjg"Eqorcp{."ujcnn"jcxg"vjg"tkijv"vq"pqokpcvg"qpg"*3+"Fktgevqt"qp"vjg"Dqctf0""
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*c+ “Affiliates” means (i) in relation vq"c"rgtuqp"dgkpi"cp"kpfkxkfwcn."vjg"tgncvkxgu"qh"uwej"kpfkxkfwcn"cu"fghkpgf"wpfgt"Ugevkqp"4*99+"qh"vjg"Cev="qt"*kk+"kp"tgncvkqp"vq"c"rgtuqp"dgkpi"c"eqorcp{"qt"dqf{"eqtrqtcvg."cp{"qvjgt"rgtuqp"yjkej"Eqpvtqnu."qt"ku"wpfgt"vjg"Eqpvtqn"qh."qt"wpfgt"eqooqp"Eqpvtqn"ykvj."uwej"rgtuqp="cpf"
*d+ “Control” shall have the meaning set forth under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended.”"
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Ctvkeng"3;04"rtqxkfgs that “Vjg"Dqctf"qh"Fktgevqtu"ujcnn"dg"gpvkvngf"vq"jqnf"kvu"oggvkpi"vjtqwij"xkfgq"eqphgtgpekpi"qt" qvjgt" rgtokvvgf"ogcpu." cpf" kp" eqpfwevkpi" vjg" Dqctf"oggvkpiu" vjtqwij" uwej" xkfgq" eqphgtgpekpi" qt" qvjgt"rgtokvvgf"ogcpu"vjg"rtqegfwtgu"cpf"vjg"rtgecwvkqpu"cu"nckf"fqyp"kp"vjg"tgngxcpv"Twngu"ujcnn"dg"cfjgtgf"vq0"Ykvj"tgictf"vq"gxgt{"oggvkpi"eqpfwevgf"vjtqwij"xkfgq"eqphgtgpekpi"qt"qvjgt"rgtokvvgf"ogcpu."vjg"uejgfwngf"xgpwg"qh"vjg"oggvkpiu"ujcnn"dg"fggogf"vq"dg"kp"Kpfkc."hqt"vjg"rwtrqug"qh"urgekh{kpi"vjg"rnceg"qh"vjg"uckf"oggvkpi"cpf"hqt"cnn"recordings of the proceedings at the meeting.”"
Article 19.4 provides that “The quorum for a meeting of the Board shall be one/vjktf"qh"kvu"vqvcn"uvtgpivj"*cp{"htcevkqp"eqpvckpgf"kp"vjcv"qpg"vjktf"dgkpi"tqwpfgf"qhh"cu"qpg+."qt"vyq"fktgevqtu"yjkejgxgt"ku"jkijgt"cpf"vjg"fktgevqtu"rctvkekrcvkpi"d{"xkfgq"eqphgtgpekpi"qt"d{"qvjgt"rgtokvvgf"ogcpu"ujcnn"cnuq"eqwpvgf"hqt"vjg"rwtrqugu"qh"vjku"Ctvkeng0"Rtqxkfgf"vjcv"yjgtg"cv"cp{"vkog"vjg"pwodgt"qh"kpvgtguvgf"Fktgevqtu"gzeggfu"qt"ku"gswcn"vq"vyq/vjktfu"qh"vjg"vqvcn"uvtgpivj."vjg"pwodgt"qh"vjg"tgockpkpi"Fktgevqtu."vjcv"ku"vq"uc{."vjg"pwodgt"qh"vjg"Fktgevqtu"yjq"ctg"pqv"kpvgtguvgf."being not less than two, shall be the quorum during such time.”"
Article 19.7 provides that “The Chairman may, and mcpcigt"qt"Ugetgvct{"qp"vjg"tgswkukvkqp"qh"c"Fktgevqt"ujcnn."cv"any time, summon a meeting of the Board.”"
Article 19.8 provides that “Questions arising at any meeting of the Directors shall be decided by a majority of xqvgu."cpf"kp"ecug"qh"cp"gswcnkv{"qh"xqtes, the Chairman thereat shall have a second or casting vote.”"
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21.2.1 “The Board of Directors shall not, except with the consent of the Company in General Meeting by way of urgekcn"tguqnwvkqp."dqttqy"oqpg{u"yjgtg"vjg"oqpg{u"vq"dg"dqttqygf"vqigvjgt"ykvj"vjg"oqpg{u"cntgcf{"borrowed by the Company (apart from temporary loans obtained from the Company’s bankers in the qtfkpct{"eqwtug"qh"dwukpguu+"yknn"gzeggf"vjg"ciitgicvg"qh"vjg"rckf/wr"ecrkvcn"qh"vjg"Eqorcp{"cpf"kvu"htgg"tgugtxgu."vjcv"ku"vq"uc{."tgugtxgu"pqv"ugv"crctv"hqt"cp{"urgekhke"rwtrqug0"
430404 Pq"fgdv"d{"vjg"Eqorcp{"kp"gzeguu"qh"nkokv"korqugf"d{"vjku"Ctvkeng"ujcnn"dg"xcnkf"qt"ghhgevwcn"wpnguu"vjg"ngpfgt"rtqxgu"vjcv"jg"cfxcpegf"vjg"nqcp"kp"iqqf"hckvj"cpf"ykvjqwv"mpqyngfig"vjcv"vjg"nkokv"korqugf"d{"vjcv"Ctvkeng"jcu"dggp"gzeggfgf0"
430405 Cp{"dqpfu."fgdgpvwtgu."fgdgpvwtg/uvqem"qt"qvjgt"ugewtkvkgu"kuuwgf"qt"vq"dg"kuuwgf"d{"vjg"Eqorcp{."ujcnn"dg"wpfgt"vjg"Eqpvtqn"qh"vjg"Fktgevqtu"yjq"oc{"kuuwg"vjgo"wrqp"uwej"vgtou"cpf"eqpfkvkqpu"cpf"kp"uwej"manner and for such consideration as they shall consider to be for the benefit of the Company.”"
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Article 22 provides that “Subject to the provisions of Section 62 and other applicable provisiqpu"qh"vjg"Cev"cpf"vjgug"Ctvkengu."vjg"ujctgu"kp"vjg"ecrkvcn"qh"vjg"Eqorcp{"hqt"vjg"vkog"ujcnn"dg"wpfgt"vjg"eqpvtqn"qh"vjg"Dqctf"yjq"oc{"kuuwg."cnnqv"qt"qvjgtykug"fkurqug"qh"vjg"ucog"qt"cp{"qh"vjgo"vq"uwej"Rgtuqpu"kp"uwej"rtqrqtvkqp"cpf"qp"uwej"vgtou"cpf"eqpfkvkqpu"cpf"gkvjgt"cv"c"rtgokwo"qt"cv"rct"qt"cv"c"fkueqwpv"*uwdlgev"vq"vjg"eqornkcpeg"ykvj"vjg"rtqxkukqp"qh"Ugevkqp"75"qh" vjg"Cev+" cpf"cv" uwej" vkog"cu" vjg{"oc{." htqo" vkog" vq" vkog." vjkpm" hkv" cpf"ykvj" ucpevkqp"qh" vjg"Eqorcp{"kp"vjg"Igpgtcn"Oggvkpi"vq"ikxg"vq"cp{"rgtuqp"qt"rgtuqpu"vjg"qrvkqp"qt"tkijv"vq"ecnn"hqt"cp{"Ujctgu"gkvjgt"cv"rct"qt"rtgokwo"fwtkpi"uwej"vkog"cpf"hqt"uwej"eqpukfgtcvkqp"cu"vjg"Fktgevqtu"vjkpm"hkv."cpf"oc{"kuuwg"cpf"cnnqv"ujctgu"kp"vjg"ecrkvcn"qh"vjg"Eqorcp{"qp"rc{ogpv"kp"hwnn"qt"rctv"qh" cp{"rtqrgtv{"uqnf"cpf"vtcpuhgttgf"qt"hqt"cp{"ugtxkegu"tgpfgtgf"vq"vjg"Eqorcp{"kp"vjg"eqpfwev"qh"kvu"dwukpguu"cpf"cp{"Ujctgu"yjkej"oc{"dg"uq"cnnqvvgf"oc{"dg"kuuwgf"cu"hwnn{"rckf"wr"Ujctgu"cpf"ku"uq"kuuwgf."ujcnn"dg"fggogf"vq"dg"hwnn{"rckf"wr"ujctgu0"Rtqxkfgf"vjcv"qrvkqp"qt"tkijv"vq"ecnn"ujctgu"ujcnn"pqv"dg"ikxgp"vq"cp{"rgtuqp"qt"rgtuqpu"ykvjqwv"vjg"ucpevkqp"qh"vjg"Eqorcp{"kp"vjg"Igpgtcn"Meeting.”"
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480305 Vjg"Eqorcp{"oc{"vcmg"cpf"ockpvckp"cp{"kpuwtcpeg"cu"vjg"Dqctf"oc{"vjkpm"hkv"qp"dgjcnh"qh"kvu"fktgevqtu"*rtgugpv"cpf"hqtogt+."qvjgt"gornq{ggu"cpf"vjg"Mg{"Ocpcigtkcn"Rgtuqppgn."hqt"kpuwtgtu"vq"fktgevn{"oggv"cnn"enckou."nquugu."gzrgpugu."hkpgu."rgpcnvkgu"qt"uwej"qvjgt"ngxkgu."qt"hqt"kpfgopkh{kpi"cp{"qt"cnn"qh"vjgo"cickpuv"cp{"uwej"nkcdknity for any acts in relation to the Company for which they may be liable.”"
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Article 28 provides that “If upon the winding/wr"qh"vjg"Eqorcp{."vjg"uwtrnwu"cuugvu"ujcnn"dg"oqtg"vjcp"uwhhkekgpv"vq"tgrc{"vjg"yjqng"qh"vjg"rckf/wr"ecrkvcn."vjg"gzeguu"ujcnn"dg"fkuvtkdwvgf"coqpiuv"vjg"ogodgtu"kp"rtqrqtvkqp"vq"vjg"ecrkvcn"rckf"qt"yjkej"qwijv"vq"jcxg"dggp"rckf/wr"qp"vjg"ujctgu"cv"vjg"eqoogpegogpv"qh"vjg"ykpfkpi/wr"jgnf"d{"vjgo"tgurgevkxgn{."qvjgt"vjcp"vjg"coqwpvu"rckf"kp"cfxcpeg"qh"ecnnu0"Kh"vjg"uwtrnwu"cuugvu"ujcnn"dg"kpuwhhkekgpv"vq"tgrc{"vjg"yjqng"qh" vjg"rckf/wr"ecrkvcn."uwej"uwtrnwu"cuugvu"ujcnn"dg"fkuvtkdwvgf"uq"vjcv"cu"pgctn{"cu"oc{"dg"vjg"nquugu"ujcnn"dg"dqtpg"d{"vjg"ogodgtu"kp"rtqrqtvkqp"vq"vjg"ecrkvcn"rckf/wr"qt"yjkej"qwijv"vq"jcxg"dggp"rckf/wr"cv"vjg"eqoogpegogpv"qh"vjg"ykpfkpi/wr"qp"vjg"ujctgu"jgnf"d{"vjgo"tgurgevkxgn{."qvjgt"vjcp"vjg"coqwpvu"rckf"d{"vjgo"kp"cfxcpeg"qh"ecnnu0"Dwv"vjku"Ctvkeng"ku"ykvjqwv"rtglwfkeg"vq"vjg"tkijvu"qh"vjg"jqnfgtu"qh"cp{"ujctgu"kuuwgf"wrqp"urgekcn" vgtou"cpf"eqpfkvkqpu"cpf"ujcnn"pqv"dg"eqpuvtwgf"uq"cu"vq"qt"dg"fggogf"vq"eqphgt"wrqp"vjgo"cp{"tkijvu"greater than those conferred by the terms and conditions of issue.”"
RCV"D"QH"VJG"CTVKENGU"QH"CUUQEKCVKQP"
"Rctv"D"qh"vjg"Ctvkengu"qh"Cuuqekcvkqp"rtqxkfg"hqt."coqpi"qvjgt"vjkpiu."vjg"tkijvu"qh"ujctgjqnfgtu"rwtuwcpv"vq"vjg"shareholders’ agreements executed with certain shareholders of our Company. For more details on the shareholders’ agreements, see “Jkuvqt{"cpf"Egtvckp"Eqtrqtcvg"Ocvvgtu"–"Ocvgtkcn"Citggogpvu” on page 3530"" "
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5:3""
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"Vjg" hqnnqykpi"eqpvtcevu" *pqv"dgkpi"eqpvtcevu"gpvgtgf" kpvq" kp" vjg"qtfkpct{"eqwtug"qh"dwukpguu"ecttkgf"qp"d{"qwt"Eqorcp{"qt"gpvgtgf"kpvq"oqtg"vjcp"vyq"{gctu"dghqtg"vjg"fcvg"qh"vjg"Ftchv"Tgf"Jgttkpi"Rtqurgevwu+"yjkej"ctg."qt"oc{"dg"fggogf"ocvgtkcn."jcxg"dggp"gpvgtgf"qt"vq"dg"gpvgtgf"kpvq"d{"qwt"Eqorcp{0"Vjgug"eqpvtcevu."eqrkgu"qh"yjkej"yknn"dg"cvvcejgf"vq"vjg"eqr{"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"fgnkxgtgf"vq"vjg"TqE"hqt"tgikuvtcvkqp."cpf"cnuq"vjg"fqewogpvu"hqt"kpurgevkqp"tghgttgf"vq"jgtgwpfgt"oc{"dg"kpurgevgf"cv"qwt"Tgikuvgtgf"cpf"Eqtrqtcvg"Qhhkeg."htqo"32022"co"vq"6022"ro"qp"Yqtmkpi"Fc{u"htqo"vjg"fcvg"qh"vjg"Tgf"Jgttkpi"Rtqurgevwu"wpvkn"vjg"Dkf1Qhhgt"Enqukpi"Fcvg0"
"
" Ocvgtkcn"Eqpvtcevu"vq"vjg"Qhhgt""
30 Qhhgt"Citggogpv"fcvgf"Ugrvgodgt"4:."4238"gpvgtgf"kpvq"coqpi"qwt"Eqorcp{."vjg"Ugnnkpi"Ujctgjqnfgtu."vjg"IEDTNOu"cpf"DTNO0"
40 Tgikuvtct" Citggogpv" fcvgf" Ugrvgodgt" 4:." 4238." gpvgtgf" kpvq" coqpi" qwt" Eqorcp{." vjg" Ugnnkpi"Ujctgjqnfgtu"cpf"vjg"Tgikuvtct"vq"vjg"Qhhgt0"
50 Cpejqt"Escrow Agreement dated [●] gpvgtgf"kpvq"coqpi"qwt"Eqorcp{."vjg"Ugnnkpi"Ujctgjqnfgtu."vjg"IEDTNOu."DTNO."vjg"U{pfkecvg"Ogodgtu."Cpejqt"Guetqy"Dcpm*u+."cpf"vjg"Tgikuvtct"vq"vjg"Qhhgt0"
60 Share Escrow Agreement dated [●]"gpvgtgf"kpvq"coqpi"vjg"Ugnnkpi"Ujctgjqnfgtu."qwt"Eqorcp{"cpf"c"ujctg"guetqy"cigpv0""
70 Syndicate Agreement dated [●]"gpvgtgf" kpvq"coqpi" vjg"ogodgtu"qh" vjg"U{pfkecvg."qwt"Eqorcp{." vjg"Ugnnkpi"Ujctgjqnfgtu"cpf"vjg"Tgikuvtct"vq"vjg"Qhhgt0"
80 Underwriting Agreement dated [●] gpvgtgf" kpvq" coqpi" qwt" Eqorcp{." vjg" Ugnnkpi" Ujctgjqnfgtu." vjg"IEDTNOu."DTNO"cpf"U{pfkecvg"Ogodgtu0"
Qvjgt"Ocvgtkcn"Eqpvtcevu"kp"tgncvkqp"vq"qwt"Eqorcp{"""
30 Share Subscription and Shareholders’ Agreement dated May 22, 2008 as amended by amendment citggogpvu" fcvgf" Ugrvgodgt" 4:." 422;." Lwn{" 49." 4233" cpf" Pqxgodgt" 52." 4234" coqpi" vjg" Ugswqkc"Kpxguvqtu."Oc{hkgnf."KER."qwt"Eqorcp{."Ot0"Ucplc{"Mcrqqt."Ot0"L{qvk"Oqjcp"Pctwnc."Ot0"Rwpggv"Pcpfc"cpf"Ot0"Fggrcm"Oqjcp"Pctwnc0"
40 Share Subscription, Share Purchase and Shareholders’ Agreement datgf"Ugrvgodgt"39."422;"cu"cogpfgf"d{"citggogpvu"fcvgf"Lwn{"49."4233."Pqxgodgt"52."4234"cpf"Ugrvgodgt"4:."4238"coqpi"JGR"Ocwtkvkwu."qwt"Eqorcp{"cpf"Ot0"Ucplc{"Mcrqqt0"
50 Ujctg"ewo"Ycttcpv"Uwduetkrvkqp"Citggogpv"fcvgf"Ugrvgodgt"3:."4234."cu"cogpfgf"d{"citggogpv"fcvgf"Lcpwct{"5."4235."coqpi"Dgppgvv."Eqngocp"("Eqorcp{"Nkokvgf."qwt"Eqorcp{."Ot0"Ucplc{"Mcrqqt."Ot0"L{qvk"Oqjcp"Pctwnc"cpf"Ot0"Rwpggv"Pcpfc0"
60 Share Purchase and Shareholders’ Agreement dated May"5."4235"coqpi"Ot0"Ucplc{"Mcrqqt."Rtcpcx"Cpucn"("Uqp"JWH."Ou0"Ujggvcn"Cpucn"cpf"Ou0"Mwuwo"Cpucn"cpf"qwt"Eqorcp{0""
70 Share Purchase and Shareholders’ Agreements dated October 18, 2013 among Ot0"Ucplc{"Mcrqqt."Hgngz"Gpvgtrtkugu"Rtkxcvg"Nkokvgf."pqy."Ugokpct{"Vkg/Wr"Rtkxcvg"Nkokvgf"cpf"qwt"Eqorcp{0""
80 Kpxguvogpv"citggogpv"fcvgf"Lwpg"43."4233"coqpi"vjg"Eqorcp{."Ot0"Ucplc{"Mcrqqt."Ot0"L{qvk"Oqjcp"Pctwnc."INH"cpf"N"Ecrkvcn"INH"Nkokvgf"cpf"cu"cogpfgf"qp"Lwn{"49."4233."Qevqdgt":."42340"
90 Citggogpv"fcvgf"Ugrvgodgt"36."4238"coqpi"qwt"Eqorcp{."INH."vjg"Ugswqkc"Kpxguvqtu."KER."Oc{hkgnf."JGR" Ocwtkvkwu." DEEN." Ot0" Rtcpcx" Cpucn." Ou0" Ujggvcn" Cpucn." Ou0" Mwuwo" Cpucn." Ugokpct{" Vkg/Wr"Rtkxcvg"Nkokvgf."Urngpfqt"Fkuvtkdwvkqpu"Nvf"cpf"Ot0"Ucplc{"Mcrqqt0"
""Ocvgtkcn"Fqewogpvu"""30 Egtvkhkgf"eqrkgu"qh"qwt"Ogoqtcpfwo"qh"Cuuqekcvkqp"cpf"Ctvkengu"qh"Cuuqekcvkqp"cu"cogpfgf"wpvkn"fcvg0"40 Egtvkhkecvgu"qh"kpeqtrqtcvkqp"fcvgf"Pqxgodgt"45."3;;:."Ugrvgodgt"36."4223"cpf"Ugrvgodgt"38."42380"50 Board resolution and shareholders’ resolution of our Company, dated Ugrvgodgt"42."4238"cpf"Ugrvgodgt"
42."4238."tgurgevkxgn{."cwvjqtk|kpi"vjg"Qhhgt"cpf"qvjgt"tgncvgf"ocvvgtu0"60 Eqpugpv"ngvvgtu"qh"gcej"qh"vjg"Ugnnkpi"Ujctgjqnfgtu"cwvjqtk|kpi"vjgkt"tgurgevkxg"rqtvkqpu"qh"vjg"Qhhgt"hqt"
Ucng0"70 Eqrkgu"qh"cppwcn"tgrqtvu"hqt"vjg"hkxg"Hkuecn"{gctu."k0g0."Hkuecnu"4238."4237."4236."4235"cpf"42340"80 Igpguku"Eqnqtu"Nkokvgf"Uvqem"Qrvkqp"Rncp"–"42380"90 Vjg" gzcokpcvkqp" tgrqtvu" qh" vjg" Cwfkvqtu."D"U"T"("Eq0"NNR."Ejctvgtgf"Ceeqwpvcpvu." qp"qwt" tguvcvgf"
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""
"
5:4""
hqt"kpenwukqp"qh"vjgkt"gzcokpcvkqp"tgrqtvu"qp"qwt"tguvcvgf"hkpcpekcn"kphqtocvkqp"kp"vjg"hqto"cpf"eqpvgzv"kp"yjkej"kv"crrgctu"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""
;0 Eqpugpv"qh"Clc{"Ycfjyc"cpf"Cuuqekcvgu"hqt"kpenwukqp"qh"vjg"uvcvgogpv"qh"vcz"dgpghkvu"kp"vjg"hqto"cpf"eqpvgzv"kp"yjkej"kv"crrgctu"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""""
320 Eqpugpvu"qh"Dcpmgtu" vq"qwt"Eqorcp{." vjg"IEDTNOu."DTNO."U{pfkecvg"Ogodgtu."Tgikuvtct" vq" vjg"Qhhgt." Dcpmgtu" vq" vjg" Qhhgt." Cpejqt" Guetqy" Dcpmu." Tghwpf" Dcpmu." ngicn" eqwpugn." Fktgevqtu" qh" qwt"Eqorcp{."Eqorcp{"Ugetgvct{"cpf"Eqornkcpeg"Qhhkegt."Ejkgh"Hkpcpekcn"Qhhkegt"cu"tghgttgf" vq"cev." kp"vjgkt"tgurgevkxg"ecrcekvkgu0"
330 Kp/principle listing approvals dated [●] and [●] from BSE cpf"PUG."tgurgevkxgn{0"340 UGDK"hkpcn"observation letter dated [●]."350 Vtkrctvkvg"Citggogpv"fcvgf"[●]"coqpi"qwt"Eqorcp{."Pcvkqpcn"Ugewtkvkgu"Fgrqukvqt{"Nkokvgf"cpf"vjg"
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"
"
"""
"
"
""
"
5:5""
FGENCTCVKQP""
"
Yg"jgtgd{"egtvkh{"cpf"fgenctg"vjcv"cnn"tgngxcpv"rtqxkukqpu"qh"vjg"Eqorcpkgu"Cev"cpf"vjg"twngu."tgiwncvkqpu"cpf"iwkfgnkpgu"kuuwgf"d{"vjg"Iqxgtpogpv"qh"Kpfkc."qt"vjg"tgiwncvkqpu"qt"iwkfgnkpgu"kuuwgf"d{"UGDK."cu"vjg"ecug"oc{"dg." jcxg"dggp" eqornkgf" ykvj" cpf" pq" uvcvgogpv"ocfg" kp" vjku" Ftchv" Tgf" Jgttkpi" Rtqurgevwu" ku" eqpvtct{" vq" vjg"rtqxkukqpu" qh" vjg" Eqorcpkgu" Cev." vjg" Ugewtkvkgu" Eqpvtcevu" *Tgiwncvkqp+" Cev." 3;78." vjg" Ugewtkvkgu" Eqpvtcev"*Tgiwncvkqp+"Twngu."3;79."vjg"Ugewtkvkgu"cpf"Gzejcpig"Dqctf"qh"Kpfkc"Cev."3;;4."gcej"cu"cogpfgf"qt"vjg"twngu."tgiwncvkqpu"qt"iwkfgnkpgu"kuuwgf"vjgtgwpfgt."cu"vjg"ecug"oc{"dg0"Yg"hwtvjgt"egtvkh{"vjcv"cnn"vjg"uvcvgogpvu"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu"ctg"vtwg"cpf"eqttgev0""UKIPGF"D["VJG"FKTGEVQTU"QH"QWT"EQORCP[""
"
"
"
"
aaaaaaaaaaaaaaaaaaaaaaaaaa"
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"
"
"
"
aaaaaaaaaaaaaaaaaaaaaaa"
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"
"
"
"
aaaaaaaaaaaaaaaaaaaaaaaaaa"
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*Pqokpgg"Fktgevqt+"
"
"
"
"
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"
"
"
"
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"
"
"
"
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"
"
"
"
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"
"
"
"
"
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"
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"
"
"
"
"
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"
"
"
"
""
"
5:6""
FGENCTCVKQP"D["JGR"OCWTKVKWU"NKOKVGF""JGR"Ocwtkvkwu"Nkokvgf"egtvkhkgu"vjcv"cnn"uvcvgogpvu"cdqwv"qt"kp"tgncvkqp"vq"kvugnh"cpf"vjg"Gswkv{"Ujctgu"qhhgtgf"d{"kv"vjtqwij"vjg"Qhhgt"hqt"Ucng"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."ctg"vtwg"cpf"eqttgev0"JGR"Ocwtkvkwu"Nkokvgf"cuuwogu"pq"tgurqpukdknkv{"hqt"cp{"qvjgt"uvcvgogpvu."kpenwfkpi."cp{"qh"vjg"uvcvgogpvu"ocfg"d{"qt"tgncvkpi"vq"vjg"Eqorcp{"qt"cp{"qvjgt"Ugnnkpi"Ujctgjqnfgt"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""Hqt"cpf"qp"dgjcnh"qh"JGR"Ocwtkvkwu"Nkokvgf""
""
"
"
aaaaaaaaaaaaaaaaaaaaaaaaa"
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"
"
"
"
"
"""
""
"
5:7""
FGENCTCVKQP"D["RTCPCX"CPUCN"("UQP"JWH""Rtcpcx"Cpucn"("Uqp"JWH"egtvkhkgu"vjcv"cnn"uvcvgogpvu"cdqwv"qt"kp"tgncvkqp"vq"kvugnh"cpf"vjg"Gswkv{"Ujctgu"qhhgtgf"d{"kv"vjtqwij"vjg"Qhhgt"hqt"Ucng"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."ctg"vtwg"cpf"eqttgev0"Rtcpcx"Cpucn"("Uqp"JWH"cuuwogu"pq"tgurqpukdknkv{"hqt"cp{"qvjgt"uvcvgogpvu."kpenwfkpi."cp{"qh"vjg"uvcvgogpvu"ocfg"d{"qt"tgncvkpi"vq"vjg"Eqorcp{"qt"cp{"qvjgt"Ugnnkpi"Ujctgjqnfgt"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""Hqt"cpf"qp"dgjcnh"qh"Rtcpcx"Cpucn"("Uqp"JWH"
"
"
"
"
aaaaaaaaaaaaaaaaaaaaaaaaa"
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"
"
"
"
"
"
"""
""
"
5:8""
FGENCTCVKQP"D["MWUWO"CPUCN""Ou0"Mwuwo"Cpucn"egtvkhkgu"vjcv"cnn"uvcvgogpvu"cdqwv"qt"kp"tgncvkqp"vq"jgtugnh"cpf"vjg"Gswkv{"Ujctgu"qhhgtgf"d{"jgt"vjtqwij"vjg"Qhhgt"hqt"Ucng"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."ctg"vtwg"cpf"eqttgev0"Ou0"Mwuwo"Cpucn"cuuwogu"pq"tgurqpukdknkv{"hqt"cp{"qvjgt"uvcvgogpvu."kpenwfkpi."cp{"qh"vjg"uvcvgogpvu"ocfg"d{"qt"tgncvkpi"vq"vjg"Eqorcp{"qt"cp{"qvjgt"Ugnnkpi"Ujctgjqnfgt"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
"
"
"
aaaaaaaaaaaaaaaaaaa"
"
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"
"
"
"
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"""
""
"
5:9""
FGENCTCVKQP"D["UJGGVCN"CPUCN""Ou0"Ujggvcn"Cpucn"egtvkhkgu"vjcv"cnn"uvcvgogpvu"cdqwv"qt"kp"tgncvkqp"vq"jgtugnh"cpf"vjg"Gswkv{"Ujctgu"qhhgtgf"d{"jgt"vjtqwij"vjg"Qhhgt"hqt"Ucng"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."ctg"vtwg"cpf"eqttgev0"Ou0"Ujggvcn"Cpucn"cuuwogu"pq"tgurqpukdknkv{"hqt"cp{"qvjgt"uvcvgogpvu."kpenwfkpi."cp{"qh"vjg"uvcvgogpvu"ocfg"d{"qt"tgncvkpi"vq"vjg"Eqorcp{"qt"cp{"qvjgt"Ugnnkpi"Ujctgjqnfgt"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0"""
"
"
"
aaaaaaaaaaaaaaaaaaa"
"
"
Ou0"Ujggvcn"Cpucn"
"
"
"
"
"
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Fcvg<"Ugrvgodgt"4:."4238"""
"
""
"
5::""
FGENCTCVKQP"D["UGOKPCT["VKG/WR"RTKXCVG"NKOKVGF""Ugokpct{"Vkg/Wr"Rtkxcvg"Nkokvgf"egtvkhkgu"vjcv"cnn"uvcvgogpvu"cdqwv"qt"kp"tgncvkqp"vq"kvugnh"cpf"vjg"Gswkv{"Ujctgu"qhhgtgf"d{"kv"vjtqwij"vjg"Qhhgt"hqt"Ucng"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."ctg"vtwg"cpf"eqttgev0"Ugokpct{"Vkg/"Wr"Rtkxcvg"Nkokvgf"cuuwogu"pq"tgurqpukdknkv{"hqt"cp{"qvjgt"uvcvgogpvu."kpenwfkpi."cp{"qh"vjg"uvcvgogpvu"ocfg"d{"qt"tgncvkpi"vq"vjg"Eqorcp{"qt"cp{"qvjgt"Ugnnkpi"Ujctgjqnfgt"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""Hqt"cpf"qp"dgjcnh"qh"Ugokpct{"Vkg/Wr"Rtkxcvg"Nkokvgf"
"
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"
"
"
"
"
"
"""
"
""
"
5:;""
FGENCTCVKQP"D["OC[HKGNF"HXEK."NVF0""Oc{hkgnf"HXEK."Nvf0"egtvkhkgu"vjcv"cnn"uvcvgogpvu"cdqwv"qt"kp"tgncvkqp"vq"kvugnh"cpf"vjg"Gswkv{"Ujctgu"qhhgtgf"d{"kv"vjtqwij"vjg"Qhhgt"hqt"Ucng"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu."ctg"vtwg"cpf"eqttgev0"Oc{hkgnf"HXEK."Nvf0"cuuwogu"pq"tgurqpukdknkv{"hqt"cp{"qvjgt"uvcvgogpvu."kpenwfkpi."cp{"qh"vjg"uvcvgogpvu"ocfg"d{"qt"tgncvkpi"vq"vjg"Eqorcp{"qt"cp{"qvjgt"Ugnnkpi"Ujctgjqnfgt"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""Hqt"cpf"qp"dgjcnh"qh"Oc{hkgnf"HXEK."Nvf0"
"
"
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aaaaaaaaaaaaaaaaaaaaaaaaa"
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"
"
"
"
""""
"
""
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5;2""
FGENCTCVKQP"D["KER"JQNFKPIU"K""KER"Jqnfkpiu"K"egtvkhkgu"vjcv"cnn"uvcvgogpvu"cdqwv"qt"kp"tgncvkqp"vq"kvugnh"cpf"vjg"Gswkv{"Ujctgu"qhhgtgf"d{"kv"vjtqwij"vjg" Qhhgt" hqt" Ucng" kp" vjku" Ftchv" Tgf" Jgttkpi" Rtqurgevwu." ctg" vtwg" cpf" eqttgev0" KER" Jqnfkpiu" K" cuuwogu" pq"tgurqpukdknkv{"hqt"cp{"qvjgt"uvcvgogpvu."kpenwfkpi."cp{"qh"vjg"uvcvgogpvu"ocfg"d{"qt"tgncvkpi"vq"vjg"Eqorcp{"qt"cp{"qvjgt"Ugnnkpi"Ujctgjqnfgt"kp"vjku"Ftchv"Tgf"Jgttkpi"Rtqurgevwu0""Hqt"cpf"qp"dgjcnh"qh"KER"Jqnfkpiu"K"
"
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aaaaaaaaaaaaaaaaaaaaaaaaa"
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"
"
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"
"
"
"""
"
"