Publishing Investor Charter and Disclosure of Complaints by Merchant Bankers on their Websites

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.... 3.3. Qualified Institutions Placement (QIP); 3.4. Preferential Issue; 3.5. SME IPO and FPO including OFS; 3.6. Buyback of Securities; 3.7. Delisting of Equity Shares; 3.8. Substantial Acquisitions of Shares and Takeovers. 4. Additionally, in order to bring about transparency in the Investor Grievance Redressal Mechanism, it has also been decided that all the registered Merchant Bankers shall disclose on their respective websites, the data on complaints received against them or against issues dealt by them and redressal thereof, on each of the aforesaid categories separately as well as collectively, latest by 7th of succeeding month, as per the format enclosed at Annexure-'B' to this circular. 5. These disclosure requirements are in addition to those already mandated by SEBI. 6. The provisions of this circular shall come into effect from January 01, 2022. 7. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. 8. Thi....

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....ELINES Sr. Activity No. Timeline for which activity takes place Information where available Filing of draft offer document 0 1 by company for public comments Websites of SEBI, Stock Exchanges, Lead Managers Page 3 of 52 ER भारतीयप्रतिभूति औरविनिमयबोर्ड Securities and Exchange Board of India Public Announcement 2 Details of anchor investors 3 allocation Issue opening date 4 5 Availability of application forms Availability of material documents for inspection by investors Availability of General Within 2 days of filing DoD with SEBI 1 day before issue opening date 3 working days after filing RHP with RoC Till issue closure date Till issue closure date Till issue closure date Newspaper - English, regional, Hindi Stock Exchanges website Stock Exchanges website Stock Exchanges website Address given in Offer Document LM website and stock exchange website Newspaper advertisement 6 7 Information Document Price Band Advertisement 2 working days 8 Total demand in the issue 9 10 days De....

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....t submit a Bid/revise a Bid with a price less than the Floor Price or higher than the Cap Price Page 5 of 52 ER] भारतीयप्रतिभूति और विनिमयबोर्ड Securities and Exchange Board of India INVESTOR GRIEVANCE REDRESSAL MECHANISM AND HOW TO ACCESS IT Investor Complaint ✓ Issuer (for email ID refer to Offer Documents) ✓ SEBI (www.sebi.gov.in) ✓ Stock Exchanges (www.nseindia.com; www.bseindia.com) • Merchant Banker (for email ID refer to Offer Documents) • Scores (https:/scores.gov.in) Registrar to Issue/Offer (Mainly for bidding/ post issue/ allotment related grievances) (for email ID refer to Offer Document) SCSBS (Blocking/Unblocking related grievances) Sponsor Bank (UPI Bid related grievances) (for email ID refer to Offer Document) Page 6 of 52 [B] भारतीयप्रतिभूतिऔरविनिमयबोर्ड Securities and Exchange Board of India TIMELINES FOR RESOLUTION O....

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....Any other query of similar nature RESPONSIBILITIES OF INVESTORS (EXPECTATIONS FROM THE INVESTORS) 1. Read and understand the terms of offer documents, application form, and issue related literature carefully and fully before investing. 2. Consult own tax consultant with respect to the specific tax implications 3. Provide full and accurate information in the application form as maybe required while making an application and keep records of the same. 4. Ensure active demat/ broking account before investing. 5. Ensure correctness of all Demographic Details Bidder's address, name of the Bidder's father or husband, investor status, occupation, bank account details, PAN and UPI ID 6. Provide full and accurate details when making investor grievances to merchant bankers. 7. After the company is listed Investor to keep abreast of material developments and corporate actions like mergers, de-mergers, splits, rights issue, bonus, dividend etc. Page 8 of 52 ER] भारतीयप्रतिभूति और विनिमयबोर्ड Securities and Exchange Board of India VISION ....

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.... Paper Applications: Shareholders who have neither received the application form nor are in a position to obtain a duplicate application form can make an application through plain paper as per details provided by such shareholders are disclosed in the LoF. Shareholders should note that applicants applying on plain paper cannot renounce their rights. Further, if application is made on plain paper and application form, both are liable to be rejected. Page 9 of 52 [B] भारतीयप्रतिभूतिऔरविनिमयबोर्ड Securities and Exchange Board of India SEBI may also prescribe any other application methods for a Rights Issue and the same will be suitably disclosed in the LoF. • Credit of electronic REs: • A separate ISIN is created for REs and remains frozen till the issue opening date. • • • • REs credited to the demat account of the shareholders as on the record date, before the issue opening date. REs credited to suspense escrow account in cases where such as shares held in physical form, shares under li....

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....¤°à¤¤à¤¿à¤­à¥‚तिऔरविनिमयबोर्ड Securities and Exchange Board of India Investors who purchase REs from the secondary market must ensure that they make an application and block/pay the Rights Issue price amount. No withdrawal of application is permitted after the issue closing date. All allotments of securities shall be made in the dematerialised form only. Physical shareholders are required to provide their demat account details to the Issuer/ Registrar to the Issue for credit of REs not later than 2 working days prior to issue closing date, such that credit of RES in their demat account takes place at least one day before issue closing date. TIMELINES - RIGHTS ISSUES Sr. No. 1 Activity Filing of DLoF by Issuer for public comments (if not a fast track Rights Issue) 2 Public Announcement w.r.t. DLoF filing and 3 inviting the public to provide comments in respect of the disclosures made in DLOF Record Date Timeline for which activity takes place DLOF made public for at- least 21 days from the date of filing the DLOF Within 2 days of filing of the DLOF with SEBI....

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....vailable on Registrar's website, credit message from NSDL/ CDSL when electronic REs are credited and demat statement from depository. Credit message from NSDL/ CDSL (e-mail/ SMS); Demat statement from depository participant showing credit of RES; Last date for credit of RES mentioned in LoF. Stock Exchange website; Disclosure made in LoF, ALOF, Application Form, Pre-Issue Advertisement Information on the procedure for On Market Renunciation disclosed in LoF; Last date for On Market Renunciation disclosed in LoF, Application Form alongwith ALOF, Pre-Issue Advertisement Information on the procedure for Off Market Renunciation disclosed in LoF; Disclosure that RES must be credited to the demat account of the renouncees on or prior to the issue closing date in LoF Disclosure made in LoF ER भारतीयप्रतिभूति औरविनिमयबोर्ड Securities and Exchange Board of India their demat account details to Issuer/ Registrar 14 Credit of RES of demat accounts of Physical Shareholders, as provided by them to the Issuer/ Regis....

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.... • Receive allotment advice and letters intimating unblocking of ASBA account or refund (if any). • • Existing shareholder has the right to request for a copy of LoF and the same shall be provided by the Issuer/Lead Manager. All such rights as may be available to a shareholder of a listed public company under the Companies Act, the Memorandum of Association and the Articles of Association. DO's and DON'TS FOR INVESTORS DO's: • • • • • • • • • • Carefully read through and fully understand the LoF, ALOF, Application Form, rights entitlement letters, application procedure and other issue related documents, and abide by the terms and conditions. Ensure accurate updation of demographic details with depositories - including the address, name, investor status, bank account details, PAN, e-mails addresses, contact details etc. Have/ open an ASBA enabled bank account with an SCSB, prior to making the Application. Ensure demat/broking account is active. Provide necessary details, including details of the ASBA Account, authorization to the SCSB to block an amount equal to the Application Mo....

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.... appear in the Application Form. Investors holding Equity Shares in physical form, who have not provided the details of their demat account to the Issuer Company or the RTA, are required to provide such details to the RTA, no later than two working days prior to the Issue Closing Date to enable the credit of their REs by way of transfer from the suspense Demat escrow account to their respective Demat accounts, at least one day before the Issue Closing Date. Investors may withdraw their Application at any time during Issue Period by approaching the SCSB where application was submitted. Sign and/ or submit all such documents and do all such acts that are necessary for allotment of Rights shares in the Issue. Provide accurate information and investor details while filing for investor complaints/ grievances. DON'TS • • Investors should not apply on plain paper after submitting CAF to a designated branch of the SCSB. Investor should not pay the application money in cash, by cheque, demand draft, money order, pay order or postal order. Physical Application Forms should not be sent to the Lead Manager/ Registrar/ to a branch of the SCSB which is not a design....

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....ance for which the aforesaid timeline is applicable 1. Delay in unblocking of funds 2. Non allotment/ partial allotment of securities 3. Non receipt of securities in demat account 4. Amount blocked but application not made 5. Application made but amount not blocked 6. Any other grievance as may be informed from time to time Mode of receipt of investor grievance The following modes of receipt will be considered valid for processing the grievances in the timelines discussed above 1. Letter from the investor addressed to the lead manager at its address mentioned in the offer document, detailing nature of grievance, details of application, details of bank account, date of application etc 2. E-mail from the investor addressed to the lead manager at its e-mail address mentioned in the offer document, detailing nature of grievance, details of application, details of bank account, date of application etc 3. On SEBI Complaints Redress System (SCORES) platform. Nature of enquiries for which the Lead manager shall endeavour to resolve such enquiries/ queries promptly during the issue period. 1. Availability of application form, ALOF 2. Availability of offer document 3. Cre....

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....med investment decision. DESCRIPTION OF ACTIVITIES / BUSINESS OF THE ENTITY: Act as Lead Manager to QIP SERVICES PROVIDED TO INVESTORS: (1) Select QIBS receive Offer Documents (PPD/ PD): Preliminary Placement Document (“PPD”) and Placement Document (“PD”) contain material information required under applicable laws. The PPD and PD are serially numbered and copies the same are circulated only to select QIBs. PPD and PD placed on websites of the relevant Stock Exchange(s) and of the issuer. (2) Key terms of the QIP included in the PPD which is sent to select QIBS on issue opening date, include the following: • • the relevant date (typically the date when the issuer's board of directors or committee of directors duly authorised by the board of directors decides to open the QIP) the floor price (determined in terms of the SEBI (ICDR) Regulations) (3) QIP Closing Date: QIBs participating in the QIP should look out for the outcome of the meeting of the board of directors of the issuer or a committee of directors, notifying the date of closure of the QIP and the final QIP price. In this regard, a minimum notice period of at-least 2 worki....

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....3 4 Availability of PPD Availability of details of Lead Managers, Escrow Bank Availability of the Floor Price, key terms of the issue etc. 5 Availability of application forms Timeline for which activity takes place Typically the same day when Issuer's Board/ Committee decides to open the issue Typically available on the same day as when the Issuer's Board/ Committee decides to open the issue Part of PPD, PD, Application Form Part of PPD, PD No later than issue closing Page 20 of 52 Information where available/ Remarks Websites of Stock Exchanges; Also disclosed in the PPD, PD BRLMs circulate serially numbered copies of the PPD to select QIB investors; Copies of PPD also available in the websites of Stock Exchanges and Issuer Details available in PPD, PD, Application Form Floor Price typically disclosed in the outcome to the Board/ Committee meeting. Floor Price, key terms etc. disclosed in the PPD, PD BRLMS circulate application forms to select investors; Sample application form is sometimes also available in the PPD 6 [B] भारतीयप्रतिभूतिऔरव....

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.... trading approval of allotment or next working day Typically, application to the Stock Exchanges is made at the same time as the corporate action for credit of securities Notices posted on websites of Stock Exchanges RIGHTS OF INVESTORS 1. Receive transferable and transmittable equity shares that rank pari passu in all respects with the existing equity shares of the Issuer Company. 2. Receive PPD, PD, application form, CAN from the Issuer Company/Lead Managers. 3. Response to investor queries. 4. All such rights as may be available to a shareholder of a listed public company under the Companies Act, the Memorandum of Association and the Articles of Association. DO's and DON'Ts FOR INVESTORS DO'S: 1. Carefully read through and fully understand the PD, PD, application form, CAN and other issue related documents, and abide by the terms and conditions. 2. Ensure accurate updation of demographic details with depositories - including the address, name, investor status, bank account details, PAN, e-mails addresses, contact details etc. 3. Ensure active demat/ broking account before investing, as securities will be allotted in dematerialized form. 4. EnsEnsure val....

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....5 Lead manager, the company/ concerned intermediary/ies and the investor shall exchange between themselves additional information related to the grievance, wherever required Between T and X 6 LM to respond to the investor with the reply Upto X+3 7 Best efforts will be undertaken by lead manager to respond to the grievance within T+30 Page 23 of 52 [B] भारतीयप्रतिभूतिऔरविनिमयबोर्ड Securities and Exchange Board of India Nature of investor grievance for which the aforesaid timeline is applicable 1. Delay in refunds, if any 2. Non-allocation/ allotment of securities after receipt of CAN/ payment of application amount 3. Non receipt of securities in demat account 4. Any other grievance as may be informed from time to time Mode of receipt of investor grievance The following modes of receipt will be considered valid for processing the grievances in the timelines discussed above 1. Letter from the investor addressed to the lead manager at its address mentioned in the offer document, detailing nature of grievance, details of ap....

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....nerating capabilities and services. 3. Disseminate complete information to investors to enable informed investment decision. DESCRIPTION OF ACTIVITIES / BUSINESS OF THE ENTITY Act as merchant banker/advisor for the transaction SERVICES PROVIDED FOR INVESTORS 1. Issuers disclose all matters w.r.t. objects of issue, maximum number of securities etc as stipulated in SEBI Regulations in the explanatory statement attached notice to shareholder 2. Price of the equity shares to be determined as per SEBI Regulations. 3. Information w.r.t. lock-in provisions, considerations payable at the time of allotment, tenor of convertible securities disclosed in the Explanatory Statement 4. Allotment pursuant to the special resolution shall be completed within a period of fifteen days from the date of passing of shareholders resolution. TIMELINES Sr. Activity No. 1 Outcome of the board meeting 2 Advertisement to be made in the principal vernacular language of the district in which the registered office of the company is situated and having a wide circulation in that district and at least once in English language in an English newspaper, having country-wide circulation act....

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....STOR GRIEVANCES - PREFERENTIAL ISSUE Sr. No Activity No. of calendar days 1 Investor grievance received by the Issuer and/or the RTA 2 The Issuer and/or the RTA to respond to the investor with an acceptable reply The Issuer and/or the RTA and the investor shall exchange between themselves additional information related to the grievance, wherever required T T+10 Between T and T+10 4 In case any further coordination/ information is required by Issuer / RTA, final response to the investor should be sent Up to T+20 5 Best efforts will be undertaken by Merchant bank to respond to the grievance within T+30 Note: It is not mandatory for the Issuer to appoint a Merchant Banker or any other entity as Advisor or Arranger for the Preferential Issue and even if appointed, they are NOT involved in the entire process of Issuance. Hence the Investors will have to take up their grievance/s directly with the Company AND /OR RTAs. Nature of investor grievance for which the aforesaid timeline is applicable 1. Delay in refunds, if any 2. Non-receipt of notice or other relevant communication 3. Non receipt of securities in demat account 4. Any other grievance as may be inf....

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....own tax consultant with respect to the specific tax implications arising out of their participation in the issue. 9. Investors should provide full and accurate information in the application form as maybe required while making an application and keep records of the same. 10. Shareholders should ensure to register E-mail Id with the Company or Depository for timely updates on Corporate actions like dividend, Buyback, Takeover etc. Page 28 of 52 GB भारतीयप्रतिभूतिऔरविनिमयबोर्ड Securities and Exchange Board of India INVESTOR CHARTER- SME IPOs & FPOs (including OFS) VISION STATEMENT: To continuously earn trust of investors and emerge as solution provider with integrity. MISSION STATEMENT: 1. Act in investors' best interests by understanding needs and developing solutions. 2. Enhance and customise value generating capabilities and services. 3. Disseminate complete information to investors to enable informed investment decision. DESCRIPTION OF ACTIVITIES / BUSINESS OF THE ENTITY IPOS & FPOS for SME - Act as a Merchant Banker to ....

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....on Document Price Band Advertisement Delay in unblocking ASBA Accounts Advertisement on Timeline for which activity takes place 1 day before issue opening date 3 working days after filing RHP with RoC Till issue closure date Till issue closure date Till issue closure date 2 working days prior to issue opening date More than 4 working Information where available Websites of SEBI, Stock Exchanges, Lead Managers Stock Exchanges website Stock Exchanges website Stock Exchanges website Address given in Offer Document LM website and stock exchange website Compensation to investor @ Rs. 100/day by intermediary causing delay Newspaper advertisement days Within 10 days Allotment status and Completion of basis of By email/post allotment advice allotment subscription and basis of allotment RIGHTS OF INVESTORS 1. Investors can request for a copy of the offer document and / or application form and the same shall be provided by the issuer/ Lead Manager(s). 2. Retail investors are allowed to cancel their bids before issue closing date. Institutional and Non- institutional investors are allowed to modify and only upward revise their bids during the period....

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....vailable in your ASBA account 3. If you are a Retail bidder and are using UPI mechanism, do not submit more than one ASBA Form for each UPI ID 4. Do not submit incorrect details of the DP ID, Client ID, PAN and UPI ID 5. Do not submit a Bid/revise a Bid Amount, with a price less than the Floor Price or higher than the Cap Price 6. Do not withdraw your Bid or lower the size of your Bid (in terms of quantity of the Equity Shares or the Bid Amount) at any stage, if you are a QIB or a Non-Institutional Bidder. Retail Individual Bidders can revise or withdraw their Bids on or before the Bid/ Offer Closing Date Page 31 of 52 [B] भारतीयप्रतिभूतिऔरविनिमयबोर्ड Securities and Exchange Board of India INVESTOR GRIEVANCE REDRESSAL MECHANISM AND HOW TO ACCESS IT Investor Complaint ✓ Issuer (for email ID refer to Offer Documents) ✓ SEBI (www.sebi.gov.in) Stock Exchanges (www.nseindia.com; www.bseindia.com) Merchant Banker (for email ID refer to Offer Documents) • Scores (https:/scores.gov.in) Registrar to Issue/....

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....रविनिमयबोर्ड Securities and Exchange Board of India Nature of enquiries for which the lead manager shall respond to / escalated promptly 1. Availability of application form 2. Availability of offer document 3. Process for participating in the issue / mode of payments 4. List of SCSBs / syndicate members 5. Date of issue opening / closing / allotment / listing 6. Technical setbacks in net-banking services provided by SCSBs / UPI mechanism 7. Any other query of similar nature RESPONSIBILITIES OF INVESTORS (EXPECTATIONS FROM THE INVESTORS) 1. Read and understand the terms of offer documents, application form, and issue related literature carefully and fully before investing. 2. Consult own tax consultant with respect to the specific tax implications 3. Provide full and accurate information in the application form as maybe required while making an application and keep records of the same. 4. Ensure active demat/ broking account before investing. 5. Ensure correctness of all Demographic Details Bidder's address, name of the Bidder's father or husband, investor status, occupation, bank account details, PAN an....

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....NESS OF THE ENTITY Act as Manager to the Offer of Buyback of securities. SERVICES PROVIDED FOR INVESTORS 1. Advertisement is published in one English National Daily, one Hindi National Daily and one Regional language daily, at the place where the Registered Office of the company is situated; 2. Detailed process and methodology disclosed in the: a. public announcement in case of buyback through open market; and b. Letter of offer along with details of buying broker through which settlement takes place; 3. Physical Shareholders can also participate in the tender offer buyback by submitting documents disclosed in the public announcement and/or letter of offer; Physical Shareholders can participate in the open market buyback after dematerialising their Shares 4. All eligible shareholders may place orders in the Acquisition Window provided by stock exchange, through their respective stock brokers; 5. Post closure, offer closing advertisement is published. A. TIMELINES - BUYBACK (OPEN MARKET) Activity Sr. No. 1 Public Announcement Opening of offer 2 3 Securities bought back 4 5 Closure of offer Acceptance of Equity Shares Timeline for which activity takes ....

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.... Stock Exchanges ΝΑ Website of Stock Exchanges 1. In case of any grievances relating to the Buyback (including non - receipt of the Buyback consideration, share certificate, demat credit, etc.), the Eligible Shareholders can approach either of the Compliance Officer, Manager to the Buyback, Registrar to the Buyback for redressal thereof. 2. Shareholders have rights to inspect the material documents as listed out in the letter of offer during the tendering period. Page 37 of 52 [B] भारतीयप्रतिभूतिऔरविनिमयबोर्ड Securities and Exchange Board of India DO's and DON'Ts FOR INVESTORS Dos 1. Ensure to submit Tender Forms on time; Eligible Shareholders who desire to tender their Equity Shares in the dematerialized form under the Buyback would have to do so through their respective Seller Member by indicating to their Seller Member the details of Equity Shares they intend to tender under the Buyback. 2. Ensure the demat account and the PAN belong to the same eligible shareholder; 3. In case shares are held in physical Form,....

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....elay in receipt of consideration upon acceptance of shares 2. Any other grievance as may be informed from time to time Mode of receipt of shareholder grievance The following modes of receipt will be considered valid for processing the grievances in the timelines discussed above 1. Letter from the shareholder addressed to the manager to the offer at its address mentioned in the offer document, detailing nature of grievance, details of application, details of bank account, date of application etc 2. E-mail from the shareholder addressed to the manager to the offer at its e-mail ID mentioned in the offer document, detailing nature of grievance, details of application, details of bank account, date of application etc 3. On SEBI Complaints Redress System (SCORES) platform. Nature of enquiries for which the Manager to the offer shall endeavour to resolve such enquiries/ queries promptly during the offer period. 1. Availability of Form of acceptance cum acknowledgement 2. Availability of offer document 3. Process for tendering of shares in the offer 4. Date of offer opening/closing/ acceptance and settlement of shares 5. Any other query of similar nature Page 39 of 52 ....

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.... the resolve any query in relation to non-receipt of letter of offer, tender form, process of tendering of shares for shares held in demat form vis-a-vis shares held in physical form etc. 5. Detailed process for tendering of shares and procedure for acceptance and settlement of shares is disclosed in the letter of offer; 6. Facility to check the status of shares tendered on real time basis during the tendering period on the website of stock exchange; 7. Facility for Physical Shareholders to participate in the delisting process by submitting documents disclosed in the letter of offer; 8. All eligible shareholders may place orders in the Acquisition Window provided by stock exchange, through their respective stock brokers; 9. Post closure of delisting, offer closing advertisement given in the same newspapers wherein facts of the offer whether success or failure, discovered price, date of acceptance and settlement are disclosed. TIMELINES - DELISTING Sr. Activity No. 1 Shareholder's Approval 2 Detailed Public 3 Announcement Dispatch of Letter of Offer Timeline for which activity takes place Within 45 days from obtaining approval of Board of Directors Withi....

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....dematerialisation, such Eligible Shareholders should ensure that the process of getting the Equity Shares dematerialised is completed well in time so that they can participate in the Offer before Offer Closing Date. Page 42 of 52 GB₁ भारतीयप्रतिभूति औरविनिमयबोर्ड Securities and Exchange Board of India Don'ts 1. Offer by Shareholders will be rejected if the terms and process mentioned in the Letter of Offer are not followed 2. Shareholders who are holding Physical Shares as on the Record Date should not submit incomplete Tender Form and other documents for placing their bid in demat form; 3. There should be no name mismatch in the demat account of the Eligible Shareholder and PAN; or 4. There should not be any restraint order of a Court/any other competent authority for transfer/disposal/ sale 5. The title to the Equity Shares should not be under dispute and there should not be any restraint. INVESTOR GRIEVANCE REDRESSAL MECHANISM AND HOW TO ACCESS IT Investor Complaint . Merchant Banker ✓ Issuer (for email ID....

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....such enquiries/ queries promptly during the offer period. 1. Availability of Form of acceptance cum acknowledgement 2. Availability of offer document 3. Process for tendering of shares in the offer 4. Date of offer opening/ closing/ acceptance and settlement of shares 5. Any other query of similar nature Page 44 of 52 GB भारतीयप्रतिभूतिऔरविनिमयबोर्ड Securities and Exchange Board of India RESPONSIBILITIES OF INVESTORS 1. Shareholders should keep abreast of corporate announcement for takeover, buyback, dividend, bonus, splits etc. 2. Shareholders should read public announcement and letter of offer carefully including taxation related issues; 3. Shareholders should ensure that their demat account is active. 4. Shareholders should ensure that the bank account registered with their DP is active for receiving the payment against tendered shares on time. Page 45 of 52 [B] भारतीयप्रतिभूतिऔरविनिमयबोà¤....

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...., Stock Exchanges Website of SEBI, Stock Exchanges Website of SEBI, Stock Exchanges Page 46 of 52 4 ER] भारतीयप्रतिभूति औरविनिमयबोर्ड Securities and Exchange Board of India Publication of Independent Director's recommendation 5 Offer Opening Ad 6 Offer Opens 7 Availability of letter of offer and Form of Acceptance 8 9 10 12 Availability of material documents for inspection by Shareholders Closure of offer Acceptance and Settlement of shares Date of post offer advertisement 2 WDs prior to commencement of tendering period 1 WDs prior to commencement of tendering period not later than 12 WDs from the date of receipt of observation letter from SEBI Till offer closure date Till offer closure date Within 10 WDs of opening Within 10 WDs of closure Website of SEBI, Stock Exchanges Website of SEBI, Stock Exchanges Website of Stock Exchanges Website of SEBI, Stock Exchanges Address given in Letter of Offer Stock Exchanges website Stock Exchanges website Within 5 WDs of payment to shareholders....

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....es.gov.in) Page 48 of 52 Registrar to Offer (for email ID refer to Offer Document) [B] भारतीयप्रतिभूतिऔरविनिमयबोर्ड Securities and Exchange Board of India TIMELINES FOR RESOLUTION OF SHAREHOLDER GRIEVANCES IN TAKEOVER No. of calendar days Sr. No Activity 1 2 Shareholder grievance received by the manager to the offer Manager to the offer to identify the concerned intermediary and it shall be endeavoured to forward the grievance to the concerned intermediary/ies on T day itself. T T+1 3 The concerned intermediary/ies to respond to the manager to the offer with an acceptable reply X 4 Shareholder may escalate the pending grievance, if any, to the functional head / head of department of manager to the offer T+21 5 Manager to the offer, the concerned intermediary/ies and the Shareholder shall exchange between themselves additional information related to the grievance, wherever required Between T and X 6 Manager to the offer to respond to the Shareholder with the reply Upto X+3 7 Best efforts will be undertaken ....