WWW.INDIANEXPRESS.COM THE INDIAN EXPRESS, TUESDAY, OCTOBER 15, 2024 ...continued from previous page. at high capacity utilisation levels. For Fiscal 2024 our capacity utilisation was 97.10% and we may not be able to meet additional demand for our products until we are able to increase our capacity by operationalising Talegaon manufacturing plant which is expected to commence commercial operations partly in the second half of Fiscal 2026. Further, if we underestimate or overestimate the demand for our products, the capacity utilisation of our manufacturing plants may be under-utilised or over-utilised, respectively, which could adversely affect our manufacturing schedules and related costs. 12. Dependency on SUV: We substantially depend on the sales of our SUV models in India. The below table sets forth the domestic sales volumes of SUVs and the percentage of our total domestic sales volumes for the periods indicated: Three months Fiscal ended June 30, 2024 2023 2024 2023 2022 Domestic Sales Volume of SUVs (units) 100,745 • • • • 83,642 388,725 301,681 250,430 % of Total Domestic Sales Volume (%) 67.41% 56.40% 63.24% 53.16% 52.01% 13. Market Risk: The Offer Price of our Equity Shares and our price-to-earnings ratio may not be indicative of the trading price of our Equity Shares upon listing on the Stock Exchanges subsequent to the Offer and,as a result,you may lose a significant part or all of your investment. Ratio vis-à-vis Floor Ratio vis-à-vis Cap Particulars Price of `1,865 Price of `1,960 (In multiples, unless otherwise specified) Market capitalizationto Revenue from operations 2.17 2.28 Price-to-earnings ratio 25.01 26.28 *Issues handled where there were no common BRLMs. • Notes: • Market capitalization has been computed as the product of number of shares outstanding as on the date of RHP with the floor price or cap price, as applicable. • Revenue from Operations are for the Financial Year ended March 31, 2024. • P/E Ratio has been computed based on the floor price or cap price, as applicable, divided by the Diluted EPS for the financial year ended 2024. Weighted average cost of acquisition of all shares transacted in the three years, 18 months and one year preceding the date of the Red Herring Prospectus: Weighted average Cap Price is ‘X’ times Range of acquisition Period cost of the weighted average price: lowest price Last one year Last 18 months Last three years 14. Other Risks: • The weighted average cost of acquisition of Equity Shares for Promoter Selling BID/OFFER PERIOD Shareholder is `10 per Equity Share and the offer price at upper end of the price band is `1,960 per Equity Share. Our Company will not receive any proceeds from the Offer for Sale. The Price to Earnings ratio based on diluted EPS for financial year ended 2024 for the Company at the upper end of the Price band is as high as 26.28 times as compared to the average industry peer group PE ratio of 23.57 times. Weighted Average Return on Net Worth for FinancialYear ended 2024,2023 and 2022 is 39.11%. The five Book Running Lead Managers associated with the Offer have handled 35 public issues in the past three Financial Years, out of which 5 issues closed below the issue price on the listing date: Total Public Issues closed below IPO Name of the BRLMs Issues Kotak Mahindra Capital Company Limited* 13 2 Citigroup Global Markets India Private Limited* 3 HSBC Securities and Capital Markets (India) Private Limited* J.P. Morgan India Private Limited* 1 Morgan Stanley India Company Private Limited* 1 Common issues of above BRLMs 17 3 Total 35 5 Nil* Nil* Nil* Nil* Nil* Nil* *Share transfers have taken place among the shareholders holding equity shares on behalf of and as nominees of our Promoter. BID/OFFER OPENS TODAY BID/OFFER CLOSES ON: THURSDAY, OCTOBER 17, 2024* *UPI mandate end time and date shall be at 5:00 pm on the Bid/Offer Closing Date. An indicative timetable in respect of the Offer is set out below: Submission of Bids (other than Bids from Anchor Investors): Revision/Cancelled of Bids Bid/Offer Period (except the Bid/Offer Closing Date) Submission and Revision in Bids Only between 10.00 a.m. and 5.00 p.m. IST Bid/Offer Closing Date* Submission of electronic applications (online ASBA through 3-in-1 accounts) for Only between 10.00 a.m. and up to 5.00 p.m. IST RIBs, Eligible Employees Bidding in the Employee Reservation Portion Submission of electronic application (bank ASBA through online channels like internet banking, mobile banking and syndicate ASBA applications through UPI Only between 10.00 a.m. and up to 4.00 p.m. IST as a payment mechanism where Bid Amount is up to ₹0.50 million) Submission of electronic applications (syndicate nonretail, non-individual Only between 10.00 a.m. and up to 3.00 p.m. IST applications of QIBs and NIIs) Submission of physical applications (syndicate nonretail, non-individual Only between 10.00 a.m. and up to 1.00 p.m. IST applications where Bid Amount is more than ₹0.50 million) Nil* Nil* Nil* Upward Revision of Bids by QIBs and Non-Institutional Bidders categories# Upward or downward Revision of Bids or cancellation of Bids by RIBs and Eligible Employees Bidding in the Employee Reservation Portion Only between 10.00 a.m. and up to 4.00 p.m. IST on Bid/ Offer Closing Date Only between 10.00 a.m. and up to 5.00 p.m. IST Event Bid/Offer Closing Date Finalisation of Basis of Allotment with the Designated Stock Exchange Initiation of refunds (if any, for Anchor Investors)/unblocking of funds from ASBA Account Credit of Equity Shares to depository accounts Commencement of trading of the Equity Shares on the Stock Exchanges Indicative Date Thursday, October 17, 2024 On or about Friday, October 18, 2024 On or about Monday, October 21, 2024 On or about Monday, October 21, 2024 On or about Tuesday, October 22, 2024 *UPI mandate end time shall be 5:00 p.m. on the Bid/ Offer Closing Date. # QIBs and Non-Institutional Bidders can neither revise their bids downwards nor cancel/withdraw their bids. THE EQUITY SHARES OF OUR COMPANY WILL GET LISTED ON MAIN BOARD PLATFORM OF NSE AND BSE. UPl-Now available in ASBA for all individual investors applying in public issues where the application amount is up to `500,000, applying through Registered Brokers, Syndicate, CDPs & RTAs. Retail Individual Bidders and Non-Institutional Bidders also have the option to submit the application directly to the ASBA Bank (SCSBs) or to use the facility of linked online trading, demat and bank account. Investors are required to ensure that the bank account used for bidding is linked to their PAN. Bidders must ensure that their PAN is linked with Aadhaar and are in compliance with CBDT notification dated February 13, 2020 and read with press releases dated June 25, 2021 read with press release September 17, 2021, and CBDT circular no. 7 of 2022, dated March 30, 2022 read with press release dated March 28, 2023 and any subsequent press releases in this regard. ASBA has to be availed by all the investors except Anchor Investors. UPI may be availed by retail individual investors. For details on the ASBA and UPI process, please refer to the details given in the ASBA Form and abridged prospectus and also please refer to the section “Offer Procedure” on page 407 of the RHP. The process is also available on the website of Association of Investment Bankers of India (“AIBI”) and Stock Exchanges and in the General Information Document. The Bid Cum Application Form and the Abridged Prospectus can be downloaded from the websites of the Stock Exchanges and can be obtained from the list of banks that is displayed on the website of SEBI at www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=35 and https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=43, respectively as updated from time to time. For the list of UPI apps and banks live on IPO, please refer to the link: www.sebi.gov.in. UPI Bidders Bidding using the UPI Mechanism may apply through the SCSBs and mobile applications whose names appear on the website of SEBI, as updated from time to time. HDFC Bank Limited and ICICI Bank Limited have been appointed as the Sponsor Banks for the Offer, in accordance with the requirements of SEBI circular dated November 1, 2018 as amended. For Offer related queries, please contact the Book Running Lead Manager (“BRLM”) on its email ID as mentioned below. For UPI related queries, investors can contact NPCI at the toll free number: 18001201740 and mail Id: ipo.upi@npci.org.in. In case of any revision in the Price Band, the Bid/Offer Period shall be extended for at least three additional Working Days after such revision of the Price Band, subject to the total Bid/Offer Period not exceeding 10 Working Days. In cases of force majeure, banking strike or similar unforeseen circumstances, our Company, may in consultation with the BRLMs, for reasons to be recorded in writing, extend the Bid/Offer Period for a minimum of one Working Day, subject to the Bid/Offer Period not exceeding 10 Working Days. Any revision in the Price Band, and the revised Bid/Offer Period, if applicable, shall be widely disseminated by notification to the Stock Exchanges by issuing a public notice and also by indicating the change on the respective websites of the BRLMs and at the terminals of the Members of the Syndicate and by intimation to the Designated Intermediaries and the Sponsor Banks, as applicable. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation will be on a discretionary basis by our Company, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion 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. Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Investors (“Non-Institutional Category”) of which one-third of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹ 200,000 and up to ₹ 1,000,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹ 1,000,000 and under-subscription in either of these two sub-categories of Non-Institutional Category may be allocated to Bidders in the other sub-category of Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Investors (“Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All Bidders (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 (including UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter)) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Bank(s), as the case may be. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see “Offer Procedure” beginning on page 407 of the RHP. Bidders/Applicants should ensure that DP ID, PAN, Client ID and UPI ID (for RIBs bidding through the UPI mechanism) are correctly filled in the Bid cum Application Form. The DP ID, PAN and Client ID provided in the Bid cum Application Form should match with the DP ID, PAN, Client ID available in the Depository database, otherwise, the Bid cum Application Form is liable to be rejected. Bidders/Applicants should ensure that the beneficiary account provided in the Bid cum Application Form is active. Bidders/Applicants should note that on the basis of the PAN, DP ID, Client ID and UPI ID (for RIBs bidding through the UPI mechanism) as provided in the Bid cum Application Form, the Bidder/ Applicant may be deemed to have authorised the Depositories to provide to the Registrar to the Offer, any requested Demographic Details of the Bidder/Applicant as available on the records of the depositories. These Demographic Details may be used, among other things, for giving Allotment Advice or unblocking of ASBA Account or for other correspondence(s) related to the Offer. Bidders/Applicants are advised to update any changes to their Demographic Details as available in the records of the Depository Participant to ensure accuracy of records. Any delay resulting from failure to update the Demographic Details would be at the Bidders’/Applicants’ sole risk. Investors must ensure that their PAN is linked with Aadhaar and are in compliance with Central Board of Direct Taxes notification dated February 13, 2020 and read with press releases dated June 25, 2021 read with press release September 17, 2021, and CBDT circular no. 7 of 2022, dated March 30, 2022 read with press release dated March 28, 2023 and any subsequent press releases in this regard. CONTENTS OF THE MEMORANDUM OF ASSOCIATION OF OUR COMPANY AS REGARDS ITS OBJECTS: For information on the main objects of the Company, please see the section “History and Certain Corporate Matters” on page 221 of the RHP. The Memorandum of Association of the Company is a material document for inspection in relation to the Offer. For further details, please see the section titled “Material Contracts and Documents for Inspection” on page 460 of the RHP. LIABILITY OF THE MEMBERS OF OUR COMPANY: Limited by shares. AMOUNT OF SHARE CAPITAL OF OUR COMPANY AND CAPITAL STRUCTURE: As on the date of the RHP, the authorised share capital of our Company is `14,000,000,000 divided into 1,400,000,000 Equity Shares of face value `10 each. The issued, subscribed and paid-up share capital of our Company is `8,125,411,000 divided into 812,541,100 Equity Shares of face value of `10 each. For details, please see the section titled “Capital Structure” beginning on page 107 of the RHP. NAMES OF SIGNATORIES TO THE MEMORANDUM OF ASSOCIATION OF OUR COMPANY AND THE NUMBER OF EQUITY SHARES SUBSCRIBED BY THEM: The initial signatories to the Memorandum of Association are Hyundai Motor Company and nominees of Hyundai Motor Company, i.e., M G Chung, B J Park, H W Baik, N M Kim, Y S Kim and B J Lee. For details of the share capital history and capital structure of our Company, please see the section entitled “Capital Structure” beginning on page 107 of the RHP. LISTING: The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges. Our Company has received in-principle approvals from BSE and NSE for listing of the Equity Shares pursuant to their letters each dated August 16, 2024, respectively. For the purposes of the Offer, NSE shall be the Designated Stock Exchange. A signed copy of the Red Herring Prospectus has been filed and the Prospectus shall be filed with the RoC in accordance with Section 26(4) of the Companies Act. 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, see “Material Contracts and Documents for Inspection” beginning on page 460 of the RHP. DISCLAIMER CLAUSE OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): SEBI only gives its observations on the Offer documents and this does not constitute approval of either the Offer or the specified securities or the Offer document. The investors are advised to refer to page 379 of the RHP for the full text of the disclaimer clause of SEBI. DISCLAIMER CLAUSE OF NSE (DESIGNATED STOCK EXCHANGE): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 384 of the RHP for the full text of the disclaimer clause of NSE. DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE should not in any way be deemed or construed that the RHP has been cleared or approved by BSE nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to page 384 of the RHP for the full text of the disclaimer clause of BSE. GENERAL RISKS: Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Offer unless they can afford to take the risk of losing their entire investment. Investors are advised to read the risk factors carefully before taking an investment decision in this Offer. For taking an investment decision, investors must rely on their own examination of the Issuer and the Offer, including the risks involved. The Equity Shares have not been recommended or approved by SEBI, nor does SEBI guarantee the accuracy or adequacy of the contents of the Red Herring Prospectus. Specific attention of the investors is invited to “Risk Factors” beginning on page 34 of the RHP. BOOK RUNNING LEAD MANAGERS Kotak Mahindra Capital Company Limited 27BKC, 1st Floor, Plot No. C – 27 ”G” Block, Bandra Kurla Complex Bandra (East), Mumbai 400 051 Maharashtra, India Tel: +91 22 4336 0000 E-mail: hmil.ipo@kotak.com Investor grievance e-mail: kmccredressal@kotak.com Website: https://investmentbank. kotak.com Contact person: Ganesh Rane SEBI Registration No.: INM000008704 Citigroup Global Markets India Private Limited 1202, 12th Floor, First International Financial Center, G – Block Bandra Kurla Complex, Bandra (East) Mumbai 400 098, Maharashtra, India Tel: +91 22 6175 9999 E-mail: hyundaimotorindiaipo@citi.com Investor grievance e-mail: investors. cgmib@citi.com Website: www.online.citibank.co.in/ rhtm/citigroupglobalscreen1.htm Contact person: Karishma Asrani/ Vaibhav Gupta SEBI Registration No.: INM000010718 HSBC Securities and Capital Markets (India) Private Limited 52/60, Mahatma Gandhi Road, Fort Mumbai 400 001, Maharashtra, India Tel: +91 22 6864 1289 E-mail: hmilipo@hsbc.co.in Investor grievance e-mail: investorgrievance@hsbc.co.in Website: https://www.business. hsbc.co.in/en-gb/regulations/hsbcsecurities-and-capital-market Contact person: Rachit Rajgaria/ Harshit Tayal SEBI Registration No.: INM000010353 Availability of the RHP: Investors are advised to refer to the RHP and the “Risk Factors” beginning on page 34 of the RHP, before applying in the Offer. A copy of the RHP is available on website of SEBI at www.sebi.gov.in and is available on the websites of the BRLMs, i.e. Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com, Citigroup Global Markets India Private Limited at www.online.citibank.co.in/rhtm/citigroupglobalscreen1. htm, HSBC Securities and Capital Markets (India) Private Limited at https://www.business. hsbc.co.in/en-gb/regulations/hsbc-securities-and-capital-market, J.P. Morgan India Private Limited at www.jpmipl.com and Morgan Stanley India Company Private Limited at www. morganstanley.com, respectively. Availability of the Abridged Prospectus: A copy of the abridged prospectus shall be available on the website of the Company, BRLMs and the Registrar to the Offer at www. hyundai.com/in/en, https://investmentbank.kotak.com, www.online.citibank.co.in/rhtm/ citigroupglobalscreen1.htm, https://www.business.hsbc.co.in/en-gb/regulations/hsbcsecurities-and-capital-market, www.jpmipl.com, www.morganstanley.com and www. kfintech.com, respectively. Availability of Bid-cum-Application Forms: Bid-cum-Application Forms can be obtained from the Corporate Office of the Company, Hyundai Motor India Limited, Tel: +91 44 6710 5135 REGISTRAR TO THE OFFER J.P. Morgan India Private Limited J.P. Morgan Tower, Off CST Road, Kalina, Santacruz East, Mumbai 400 098, Maharashtra, India Tel: +91 22 6157 3000 E-mail: hmi_ipo@jpmorgan.com Investor grievance e-mail: investorsmb.jpmipl@jpmorgan. com Website: www.jpmipl.com Contact person: Saarthak Soni/ Vidit Jain SEBI Registration No.: INM000002970 Morgan Stanley India Company Private Limited 18F, Tower 2, One World Centre Plot 841, Senapati Bapat Marg Mumbai 400 013 Maharashtra, India Tel: +91 22 6118 1000 E-mail: hmil_ipo@morganstanley. com Investor grievance e-mail: investors_ india@morganstanley.com Website: www.morganstanley.com Contact person: Honi Joshi/ Keyur Thakar SEBI Registration No.: INM000011203 the BRLMs: Kotak Mahindra Capital Company Limited, Tel: +91 22 4336 0000, Citigroup Global Markets India Private Limited, Tel: +91 22 6175 9999, HSBC Securities and Capital Markets (India) Private Limited, Tel: +91 22 6864 1289, J.P. Morgan India Private Limited, Tel: +91 22 6157 3000 and Morgan Stanley India Company Private Limited, Tel: +91 22 6118 1000 at the select locations of the Sub-Syndicate Members (as given below), SCSBs, Registered Brokers, RTAs and CDPs participating in the Offer. ASBA Forms will also be available on the websites of NSE and BSE and the Designated Branches of SCSBs, the list of which is available at websites of the Stock Exchanges and SEBI. Sub-syndicate members: Almondz Global Securities Ltd., Amrapali Capital & Finance Services Ltd., Anand Rathi Share & Stock Brokers Ltd., Asit C. Mehta Investment Interrmediates Ltd., Axis Capital Limited, Centrum Broking Limited, Citigroup Global Markets India Private Limited, Dalal & Broacha Stock Broking Private Limited, HDFC Securities Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IDBI Capital Markets & Securities Limited, IIFL Securities Ltd., JM Financial Services Limited, Jobanputra Fiscal Services Private Limited, J.P. Morgan India Private Limite, KJMC Capital Market Services Limited, LKP Securities Limited, Motilal Oswal Securities Limited, Morgan Stanley India Company Private Limited, Nuvama Wealth and Investment Limited (Edelweiss Broking Limited), Prabhudas Lilladher Pvt. Ltd., Pravin Ratilal Share & Stock Brokers Limited, Religare KFin Technologies Limited Selenium Tower B, Plot No.31-32 Gachibowli, Financial District Nanakramguda, Serilingampally Hyderabad 500 032 Telangana, India Tel: +91 40 6716 2222/ 1800 309 4001 E-mail: hmil.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact person: M Murali Krishna SEBI Registration No.: INR000000221 COMPANY SECRETARY AND COMPLIANCE OFFICER Divya Venkat Plot No. H-1, SIPCOT Industrial Park Irrungattukottai, Sriperumbudur Taluk Kancheepuram District - 602 105 Tamil Nadu, India Tel: +91 44 6710 5135 E-mail: complianceofficer@hmil.net Investors can contact our Company Secretary and Compliance Officer, the BRLMs or the Registrar to the Offer in case of any pre-Offer or post-Offer related problems, such as nonreceipt of letters of Allotment, non-credit of Allotted Equity Shares in the respective beneficiary account, non-receipt of refund orders or non-receipt of funds by electronic mode, etc. For all Offer-related queries and for redressal of complaints, Investors may also write to the BRLMs. Securites Limited, Rikhav Securities Limited, RR Equity Brokers Private Limited, SBIcap Securities Limited, Sharekhan Ltd., SMC Global Securities Ltd., Viren M Shah, YES Securities (India) Limited. Syndicate member: Kotak Securities Limited Escrow Collection Banks: HDFC Bank Limited and ICICI Bank Limited Refund Bank: ICICI Bank Limited Public Offer Account Bank: Kotak Mahindra Bank Limited Sponsor Banks: HDFC Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank Limited and Axis Bank Limited UPI: UPI Bidders can also bid through UPI Mechanism. All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP. For HYUNDAI MOTOR INDIA LIMITED On behalf of the Board of Directors Sd/Place: Chennai, Tamil Nadu Divya Venkat Date: October 14, 2024 Company Secretary and Compliance Officer HYUNDAI MOTOR INDIA LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the red herring prospectus dated October 8, 2024 (“RHP”) with the Registrar of Companies, Tamil Nadu at Chennai (“RoC”) on October 8, 2024. The RHP shall be available on the website of SEBI at www.sebi.gov.in, on the websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, on the website of the Company at www.hyundai.com/in/en and on the websites of the BRLMs, i.e. Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limited at https://investmentbank.kotak.com, www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, https://www.business.hsbc.co.in/engb/regulations/hsbc-securities-andcapital-market, www.jpmipl.com and www.morganstanley.com, respectively. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled ‘Risk Factors’ on page 34 of the RHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. This announcement is not an offer of securities for sale in the United States or elsewhere. This announcement has been prepared for publication in India only and is not for publication or distribution, directly or indirectly, in or into the United States. The Equity Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state law of the United States and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act or any state law of the United States. There will be no public offering of the Equity Shares in the United States. Adfactors Jaipur