Non transfer Ability of Financial Instruments

The instruments allotted on a preferential basis to the promoters/promoter groups are subject to a lock-in period of three years from the date of their allotment. In any case not more than 20 per cent of the total capital of the company, including the one brought in by the way of preferential issue, would be subject to a lock-in period and three years from the date of allotment. In addition to these requirements for locking-in of instruments allotted on a preferential basis to promoters/promoter group(s), the instrument allotted to any person, including promoters promoter groups should be locked-in for a period of one rear from the dale of allotment, excepting preferential allotments involving swap of equity shares/convertible security for equitation. The lock-in on shares acquired by conversion of the convertible instrument/ exercise of warrants would he reduced to the extent they have already been locked-in. The total capital of the company means: (I) equity share capital is issued by way of public/rights issue, including equity shares, emerging on a dale out of any convertible securities/exercise of warrants, and (II) equity shares or any other security convertible on a later date into equity issued on a preferential basis in favor of the promoters/promoter group(s). For computing 20 per cent of the total capital of the company, the amount of minimum promoters contribution held and locked in the past would be taken into account. The minimum promoters contribution would not be again put under a fresh lock-in, even though it is considered for computing the requirement of 20 per cent of the total capital of the company, in case the said minimum promoters contribution is free to be locked-in at the. time of the preferential issue.

These lock-in shares/instruments can be transferred to, and among(s) promoters/promoter group(s), or to a new promoter or person(s) in control of the company, subject to continuation of the lock-in in the hands of the transferred for the remaining period and compliance of the SEBI Substantial Acquisition of Shares and Takeover Regulation, as applicable.

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