| Initial public offer of 54,03,600* equity shares of face value of Rs. 10/- each ("Equity Shares") of the company at an offer price of Rs. 111 per equity share (including a share premium of Rs. 101 per equity share) for cash, aggregating Rs. 59.98 crores ("Public Offer") comprising a fresh issue of 44,03,600 equity shares aggregating Rs. 48.88 crores (the "Fresh Issue") and an offer for sale of 10,00,000 equity shares, comprising of 4,55,200 equity shares aggregating Rs. 5.05 crores by Bhavika Gandhi, 4,55,200 equity shares aggregating Rs. 5.05 crores by Isha Gandhi, 49,500 equity shares aggregating Rs. 0.55 crores by Shashikala and 40,100 equity shares aggregating Rs. 0.45 crores by Bhavya Gandhi (collectively, "The promoter Group Selling Shareholders" or "The Selling Shareholders" and such offer for sale of equity shares by the selling shareholders, the "Offer for Sale") aggregating Rs. 11.10 crores, out of which 2,71,200 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 111 per equity share for cash, aggregating Rs. 3.01 crores was reserved for subscription by the market maker to the offer (the "Market Maker Reservation Portion"). The public offer less market maker reservation portion i.e. offer of 51,32,400 equity shares of face value of Rs. 10/- each, at an offer price of
Rs. 111 per equity share for cash, aggregating Rs. 56.97 crores is hereinafter referred to as the "Net Offer". The public offer and net offer will constitute 27.01% and 25.66% respectively of the post-offer paid-up equity share capital of the company.
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