Public Issue Related FAQs

Q1. What is the Issue Size?

Base issue size of Rs. 100 Crore, with an option to retain oversubscription of Rs. 50 Crore, aggregating to a total of Rs. 150 Crore

Q2. What is the face value of this NCD?

The NCDs will be issued at a face value of Rs. 1,000/- per NCD

Q3. What is the frequency of interest payment?

Frequency of interest payments for various series is as below:
Series I, III, VI, IX- monthly interest payment
Series IV, VII, X – annual interest payment
Series II, V, VIII, XI – cumulative interest payment at maturity

Q4. What is the rating of the NCDs?

The NCDs have been rated ‘ICRA BBB/Stable’ by ICRA for an amount of up to Rs.150 cr vide its letter dated February 11, 2019 and further vide its letter no. Reval/Chen/109/18-19 dated March 12, 2019 revalidated, a rating of “[ICRA] BBB (Stable)” for an amount of up to Rs. 150 crore. The rating of the NCDs by ICRA indicate that instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk. The outlook is stable.

Q5. What is the minimum application size for investment?

An investor may apply for a minimum of Rs. 10,000 (10 NCDs) and in multiples of Rs. 1,000 (1 NCD) thereafter.

Q6. Is there any reservation for individual investor investing in this issue?

No

Q7. Is demat account necessary to invest in these NCDs?

Yes. All Series of NCDs will be allotted in the dematerialized form only. Trading in NCDs shall be compulsorily in dematerialized form.

Q8. Is ASBA the only method for applying for this issue.

Yes. The applicant should have an account with an SCSB which provides ASBA facility.
Cheques, cash, other forms of payment cannot be accepted.

Q9. Who all are eligible to invest in these NCDs ?

Category I

• Persons eligible to apply to the Issue under this category include:
• Resident public financial institutions, scheduled commercial banks, Indian multilateral and bilateral development financial institutions;
• State industrial development corporations;
• Provident funds, pension funds with a minimum corpus of Rs.25 crore, superannuation funds and gratuity funds, authorized to invest in the NCDs;
• Insurance companies registered with the IRDA;
• National Investment Fund set up by resolution F. No. 2/3/2005-DD-II dated November 23, 2005 of the GoI;
• Mutual funds registered with SEBI;
• Alternative Investment Funds registered with SEBI subject to investment conditions applicable to them under the SEBI AIF Regulations;
• Resident Venture Capital Funds registered with SEBI;
• Systemically Important Non-Banking Financial Company, a non-banking financial company registered with the Reserve Bank of India and having a net worth of more than Rs. 500 crore as per the last audited financial statements; and
• Insurance funds set up by and managed by the army, navy or air force of the Union of India or by the Department of Posts, GoI.

Category II

• Persons eligible to apply to the Issue under this category include:
• Companies within the meaning of section 2(20) of the Companies Act, 2013;
• Statutory bodies/ corporations and societies registered under the applicable laws in India and authorised to invest in NCDs;
• Co-operative banks, and regional rural banks incorporated in India
• Trusts including public/private charitable/religious trusts settled and/or registered in India
• under applicable laws, which are authorized to invest in the NCDs;
• Resident Indian scientific and/or industrial research organizations, authorized to invest in the NCDs;
• Limited liability Partnerships formed and registered under the provisions of the Limited Liability
• Partnership Act 2008 (No. 6 of 2009), authorized to invest in the NCDs;
• Partnership firms formed under applicable laws in India in the name of the partners, authorized to invest in the NCDs
• Association of Persons: and
• Any other incorporated and/ or unincorporated body of persons.

Category III

• Resident Indian individuals and
• Hindu Undivided Families applying through the Karta

Q10. Who is not eligible to invest in the Issue?

Following are not eligible to invest in the Issue:

1. Minors without a guardian name*(A guardian may apply on behalf of a minor. However, Applications by minors must be made through Application Forms that contain the names of both the minor Applicant and the guardian);
2. Foreign nationals, NRI inter-alia including any NRIs who are (i) based in the USA, and/or, (ii) domiciled in the USA, and/or, (iii) residents/citizens of the USA, and/or, (iv) subject to any taxation laws of the USA;
3. Persons resident outside India and other foreign entities;
4. Foreign Institutional Investors;
5. Foreign Portfolio Investors;
6. Foreign Venture Capital Investors
7. Qualified Foreign Investors;
8. Overseas Corporate Bodies; and
9. Persons ineligible to contract under applicable statutory/regulatory requirements.

*Applicant shall ensure that guardian is competent to contract under Indian Contract Act, 1872

Q11. Can the application be made on joint names?

• Applications may be made in single or joint names (not exceeding three):

– If the Application is submitted in joint names, the Application Form should contain name of the first Applicant only whose name should also appear as the first holder of the depository account (in case of Applicants applying for Allotment of the NCDs in dematerialized form) held in joint names.

– If the depository account is held in joint names, the Application Form should contain the name and PAN of the person whose name appears

– First in the depository account and signature of only such person would be required in the Application Form.

– Such Applicant would be deemed to have signed on behalf of joint holders and would be required to give confirmation to this effect in the Application Form. Such Applications should contain the PAN of the HUF and not of the Karta.

• In the case of joint Applications,
• All payments will be made by the Company in favour of the first Applicant.

– All communications will be addressed to Applicant whose name appears first in the Application Form and at the address mentioned therein.

• Applications should be made by Karta in case the Applicant is an HUF.

Q12. Can an applicant make additional/multiple applications?

Yes

• An Applicant can make one or more Applications for the NCDs for the same or other series of NCDs, subject to a minimum application size of Rs. 10,000 and in multiples of Rs. 1,000 thereafter as specified in the Prospectus.
• Any Application for an amount below the aforesaid minimum application size will be deemed as an invalid application and shall be rejected.
• If the cumulative value of multiple Applications made by an Applicant falling under Retail Individual Portion aggregates to a value exceeding Rs. 10,00,000, such Applications shall be grouped in the High Net-worth Individuals (“HNIs”)
• However, any Application made by a person in his individual capacity and an Application made by such person in his capacity as a Karta of a Hindu Undivided Family and/or as Applicant (second or third Applicant), shall not be deemed to be a multiple Application.
• For the purposes of allotment of NCDs under the Issue, Applications shall be grouped based on the PAN, i.e. Applications under the same PAN shall be grouped together and treated as one Application. Two or more Applications will be deemed to be multiple Applications if the sole or first Applicant is the same. For the sake of clarity, two or more applications shall be deemed to be a multiple Application for the aforesaid purpose if the PAN number of the sole or the first Applicant is the same.

Q13. Which stock exchange are the NCDs proposed to be listed on?

The NCDs are proposed to be listed on BSE.

Q14. What is the issue period and timing?

Issue opens on April 10, 2019 and closes on May 9, 2019.

• The subscription list shall remain open at the commencement of banking hours and close at the close of banking hours for the period as indicated
• Company Board has an option for early closure or extension by such period constituted by resolution of the Board
• The Company shall ensure that notice of such early closure or extension is given to the prospective investors through an advertisement in a leading daily national newspaper on or before such earlier date or extended date of closure.
• Applications Forms for the Issue will be accepted only from 10:00 a.m. till 5.00 p.m. (Indian Standard Time) or such extended time as may be permitted by BSE, on all Working Days during the Issue Period.
• On the Issue Closing Date, Application Forms will be accepted only from 10:00 a.m. till 3.00 p.m. (Indian Standard Time) and uploaded until 5.00 p.m. (Indian Standard Time) or such extended time as may be permitted by BSE.

Q15. What is the application amount and mode of payment to be payable on application?

• The minimum application size for each application for NCDs would be Rs.10,000/-, and in And in multiples of Rs. 1,000/- thereafter.
• Applicants can apply for any or all series of NCDs offered hereunder (any/all options) using the same Application Form.
• Application can be made in ASBA mode only.
• Applicants shall specify the ASBA Account number in the Application Form.
• Applicants should ensure that they have funds equal to the Application Amount in the ASBA Account before submitting the ASBA Application to the Syndicate Members or Trading Members of the Stock Exchange(s), as the case may be, at the Specified Cities or to the Designated Branches of SCSBs and that the signature in the Application Form matches with your available bank records.

Q16. Where/How should the completed application forms be submitted ?

It will depend on the mode of application :

i) If using physical Application Form,

(a) to the Designated Intermediaries at relevant Collection Centres, or
(b) to the Designated Branches of the SCSBs where the ASBA Account is maintained;

ii) If using electronic Application Form, to the SCSBs, electronically through internet banking facility, if available.

No separate receipts will be issued for the Application Amount payable on submission of Application Form. However, the Designated Intermediaries will acknowledge the receipt of the Application Forms by stamping the date and returning to the Applicants an acknowledgement slips which will serve as a duplicate Application Form for the records of the Applicant.

Q17. Can an applicant withdraw application during the Issue Period ?

Applicants can withdraw their Applications during the Issue Period by submitting a request for the same to the Designated Intermediaries or the Designated Branch, as the case may be, through whom the Application had been placed.

In case Applications were submitted to the Designated Intermediaries, upon receipt of the request for withdrawal from the Applicant, the relevant Designated Intermediary, as the case may be, shall do the requisite, including deletion of details of the withdrawn Application Form from the electronic system of the Stock Exchange and intimating the Designated Branch of the SCSB to unblock of the funds blocked in the ASBA Account at the time of making the Application.

In case Applications submitted directly to the Designated Branch of the SCSB, upon receipt of the request for withdrawal from the Applicant, the relevant Designated Branch shall do the requisite, including deletion of details of the withdrawn Application Form from the electronic system of the Stock Exchanges and unblocking of the funds in the ASBA Account directly.

Q18. Can an applicant revise his/her application during the Issue Period ?

Applicants may revise/ modify their Application details during the Issue Period, as allowed/permitted by the Stock Exchange(s), by submitting a written request to the Designated Intermediaries / the Designated branch of the SCSBs, as the case may be. However, for the purpose of Allotment, the date of original upload of the Application will be considered in case of such revision/modification. In case of any revision of Application in connection with any of the fields which are not allowed to be modified on the electronic Application platform of the Stock Exchange(s) as per the procedures and requirements prescribed by each relevant Stock Exchanges, Applicants should ensure that they first withdraw their original Application and submit a fresh Application. In such a case, the date of the new Application will be considered for date priority for Allotment purposes.

Revision of Applications is not permitted after the expiry of the time for acceptance of Application Forms on Issue Closing Date. However, in order that the data so captured is accurate, the Designated Intermediaries and/or the Designated Branches of the SCSBs will be given up to one Working Day after the Issue Closing Date to modify/ verify certain selected fields uploaded in the online system during the Issue Period, after which the data will be sent to the Registrar for reconciliation with the data available with the NSDL and CDSL.

Q19. What is the basis of allotment? How will allocation happen in case of over subscriptions?

The registrar will aggregate the applications based on the applications received through an electronic book from the stock exchange and determine the valid applications for the purpose of drawing the basis of allocation.

Grouping of the application received will be then done in the following manner:

(i) Applicants belonging to the Category I, in the first instance, will be allocated NCDs up to 5% of Overall Issue Size on first come first serve basis;
(ii) Applicants belonging to the Category II, in the first instance, will be allocated NCDs up to 5% of Overall Issue Size on first come first serve basis;
(iii) Applicants belonging to the Category III, in the first instance, will be allocated NCDs up to 90% of Overall Issue Size on first come first serve basis;

Allotments, in consultation with the Designated Stock Exchange, shall be made on a first-come first-serve basis, based on the date of upload of each application into the electronic book with Stock Exchange, in each Portion subject to the Allocation Ratio.

As per the SEBI circular dated October 29, 2013, the allotment in the Issue is required to be made on the basis of date of upload of each application into the electronic book of the Stock Exchange. However, on the date of oversubscription, the allotments should be made to the applicants on proportionate basis.

Q20. When will the funds get unblocked ?

Unblocking of Funds for withdrawn, rejected or unsuccessful or partially successful Applications :
The Registrar shall, pursuant to preparation of Basis of Allotment, instruct the relevant SCSB to unblock the funds in the relevant ASBA Account for withdrawn, rejected or unsuccessful or partially successful Applications within 6 (six) Working Days of the Issue Closing Date.

Q21. When will the investor get the allotment advice ?

Issuance of Allotment Advice

Our Company shall ensure dispatch of Allotment Advice and/ or give instructions for credit of NCDs to the beneficiary account with Depository Participants upon approval of Basis of Allotment. The Allotment Advice for successful Applicants will be mailed to their addresses as per the Demographic Details received from the Depositories.

Our Company shall use best efforts to ensure that all steps for completion of the necessary formalities for commencement of trading at the Stock Exchange where the NCDs are proposed to be listed are taken within six Working Days from the Issue Closing Date.

The Application Amount shall remain blocked in the ASBA Account until approval of the Basis of Allotment and consequent transfer of the amount against the Allotted NCDs to the Public Issue Account(s), or until withdrawal/ failure of this Issue or until withdrawal/ rejection of the Application Form, as the case may be.

Q22. Can NRIs Apply in this Issue?

No, NRIs are ineligible to apply in this Issue.

Q23. What are the documents/certificates that need to be filed along with the Application Form for retail investors ?

No documents. All applicants shall be required to mention their PAN Number in the Application Form

Q24. What are the documents/certificates that need to be filed along with the Application Form for Other large investors ?

Details for Applications by certain categories of Applicants including documents to be submitted are summarized below.

Applications by Mutual Funds

Pursuant to a recent SEBI Circular SEBI/HO/IMD/DF2/CIR/P/2016/35 dated February 15, 2016 (“SEBI Circular 2016”), mutual funds are required to ensure that the total exposure of debt schemes of mutual funds in a particular sector shall not exceed 25% of the net assets value of the scheme. Further, the additional exposure limit provided for financial services sector towards HFCs is reduced from 10% of net assets value to 5% of net assets value and single issuer limit is reduced to 10% of net assets value (extendable to 12% of net assets value, after trustee approval). The SEBI Circular 2016 also introduces group level limits for debt schemes and the ceiling be fixed at 20% of net assets value extendable to 25% of net assets value after trustee approval.

A separate Application can be made in respect of each scheme of an Indian mutual fund registered with SEBI and such Applications shall not be treated as multiple Applications. Applications made by the AMCs or custodians of a mutual fund shall clearly indicate the name of the scheme concerned for which Application is being made. In case of Applications made by mutual fund registered with SEBI, a certified copy of their SEBI registration certificate must be submitted with the Application Form. Failing this, our Company reserves the right to accept or reject any Application in whole or in part, in either case, without assigning any reason therefor.

Application by Commercial Banks, Co-operative Banks and Regional Rural Banks

Commercial banks, co-operative banks and regional rural banks can apply in the Issue based on their own investment limits and approvals. The Application Form must be accompanied by (i) the certificate of registration issued by RBI, and (ii) the approval of such banking company’s investment committee is required to be attached to the Application Form. Failing this, our Company reserves the right to accept or reject any Application in whole or in part, in either case, without assigning any reason therefore. Pursuant to SEBI Circular no. CIR/CFD/DIL/1/2013 dated January 2, 2013, SCSBs making applications on their own account using ASBA facility, should have a separate account in their own name with any other SEBI registered SCSB. 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 Applications.

Application by Insurance Companies

In case of Applications made by insurance companies registered with the IRDAI, a certified copy of certificate of registration issued by IRDAI must be lodged along with Application Form. Failing this, our Company reserves the right to accept or reject any Application in whole or in part, in either case, without assigning any reason therefor. Insurance companies participating in this Offer shall comply with all applicable regulations, guidelines and circulars issued by the IRDAI from time to time to time including the IRDAI Investment Regulations.

Application by Indian Alternative Investment Funds

Applications made by ‘Alternative Investment Funds’ eligible to invest in accordance with the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012, as amended (the “SEBI AIF Regulations”) for Allotment of the NCDs must be accompanied by certified true copies of SEBI registration certificate. The Alternative Investment Funds shall at all times comply with the requirements applicable to it under the SEBI AIF Regulations and the relevant notifications issued by SEBI. Failing this, our Company reserves the right to accept or reject any Application in whole or in part, in either case, without assigning any reason therefor.

Application by Systemically Important Non- Banking Financial Companies

Systemically Important Non- Banking Financial Company, a non-banking financial company registered with the Reserve Bank of India and having a net-worth of more than five hundred crore rupees as per the last audited financial statements can apply in the Issue based on their own investment limits and approvals. The Application Form must be accompanied by a certified copy of the certificate of registration issued by the RBI, a certified copy of its last audited financial statements on a stand-alone basis and a net worth certificate from its statutory auditor(s). Failing this, our Company reserves the right to accept or reject any Application in whole or in part, in either case, without assigning any reason therefor.

Applications by Associations of persons and/or bodies established pursuant to or registered under any central or state statutory enactment

In case of Applications made by Applications by associations of persons and/or bodies established pursuant to or registered under any central or state statutory enactment, must submit a (i) certified copy of the certificate of registration or proof of constitution, as applicable, (ii) Power of Attorney, if any, in favour of one or more persons thereof, (iii) such other documents evidencing registration thereof under applicable statutory/regulatory requirements. Further, any trusts applying for NCDs pursuant to the Issue must ensure that (a) they are authorized under applicable statutory/regulatory requirements and their constitution instrument to hold and invest in debentures, (b) they have obtained all necessary approvals, consents or other authorisations, which may be required under applicable statutory and/or regulatory requirements to invest in debentures, and (c) Applications made by them do not exceed the investment limits or maximum number of NCDs that can be held by them under applicable statutory and / or regulatory provisions. Failing this, our Company reserves the right to accept or reject any Applications in whole or in part, in either case, without assigning any reason therefor.

Applications by Trusts In case of Applications made by trusts, settled under the Indian Trusts Act, 1882, as amended, or any other statutory and/or regulatory provision governing the settlement of trusts in India, must submit a (i) certified copy of the registered instrument for creation of such trust, (ii) Power of Attorney, if any, in favour of one or more trustees thereof, (iii) such other documents evidencing registration thereof under applicable statutory/regulatory requirements. Further, any trusts applying for NCDs pursuant to the Issue must ensure that (a) they are authorized under applicable statutory/regulatory requirements and their constitution instrument to hold and invest in debentures, (b) they have obtained all necessary approvals, consents or other authorisations, which may be required under applicable statutory and/or regulatory requirements to invest in debentures, and (c) Applications made by them do not exceed the investment limits or maximum number of NCDs that can be held by them under applicable statutory and or regulatory provisions. Failing this, our Company reserves the right to accept or reject any Applications in whole or in part, in either case, without assigning any reason therefor.

Applications by Public Financial Institutions, Statutory Corporations, which are authorized to invest in the NCDs

The Application must be accompanied by certified true copies of:

(i) Any Act/ Rules under which they are incorporated;

(ii) Board Resolution authorising investments; and

(iii) Specimen signature of authorized person. Failing this, our Company reserves the right to accept or reject any Applications in whole or in part, in either case, without assigning any reason therefor

Applications by Provident Funds, Pension Funds, Superannuation Funds and Gratuity Funds which are authorized to invest in the NCDs

The Application must be accompanied by certified true copies of incorporation / registration under any Act / Rules under which they are incorporated. Failing this, our Company reserves the right to accept or reject any Applications for Allotment of the NCDs in physical form in whole or in part, in either case, without assigning any reason therefor.

Applications by National Investment Funds

Application, made by National Investment Funds for Allotment of the NCDs, must be accompanied by certified true copies of: (i) a resolution authorising investment and containing operating instructions; and (ii) specimen signatures of authorized persons.

Companies, bodies corporate and societies registered under the applicable laws in India
The Application must be accompanied by certified true copies of the registration under the Act / Rules under which they are incorporated. Failing this, our Company reserves the right to accept or reject any Applications in whole or in part, in either case, without assigning any reason therefor. Applications by Indian Scientific and/or industrial research organizations, which are authorized to invest in the NCDs, the Application must be accompanied by certified true copies of the registration under the Act / Rules under which they are incorporated. Failing this, our Company reserves the right to accept or reject any Applications in whole or in part, in either case, without assigning any reason therefor.
Applications by Partnership firms formed under applicable Indian laws in the name of the partners and Limited Liability Partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009)

The Application must be accompanied by certified true copies of certified copy of certificate of the Partnership Deed or registration issued under the Limited Liability Partnership Act, 2008, as applicable. Failing this, our Company reserves the right to accept or reject any Applications in whole or in part, in either case, without assigning any reason therefor.

Applications under Power of Attorney

In case of Applications made pursuant to a power of attorney by Applicants who are Institutional Investors or Non-Institutional Investors, a certified copy of the power of attorney or the relevant resolution or authority, as the case may be, with a certified copy of the memorandum of association and articles of association and/or bye laws must be submitted with the Application Form. In case of Applications made pursuant to a power of attorney by Applicants who are Retail Individual Investors, a certified copy of the power of attorney must be submitted with the Application Form. Failing this, our Company reserves the right to accept or reject any Application in whole or in part, in either case, without assigning any reason therefor.

Q24. What are the do’s and don’ts to be observed while applying for the issue ?

Applicants are advised to take note of the following while filling and submitting the Application Form:

Do’s

1. Check if you are eligible to apply as per the terms of the Prospectus and applicable law;

2. Read all the instructions carefully and complete the Application Form in the prescribed form.

3. Ensure that you have obtained all necessary approvals from the relevant statutory and/or regulatory authorities to apply for, subscribe to and/or seek Allotment of NCDs pursuant to this Issue.

4. Ensure that the DP ID, the Client ID and the PAN mentioned in the Application Form, which shall be entered into the electronic system of the Stock Exchange are correct and match with the DP ID, Client ID and PAN available in the Depository database. Ensure that the DP ID and Client ID are correct and beneficiary account is activated. The requirement for providing Depository Participant details is mandatory for all Applicants.

5. Ensure that you have mentioned the correct ASBA Account number in the Application Form.

6. Ensure that the Application Form is signed by the ASBA Account holder in case the Applicant is not the ASBA account holder.

7. Ensure that you have funds equal to the Application Amount in the ASBA Account before submitting the Application Form to the respective Designated Branch of the SCSB, or to the Designated Intermediaries, as the case may be.

8. Ensure that the Application Forms are submitted at the Designated Branches of SCSBs or the Collection Centres provided in the Application Forms, bearing the stamp of the relevant Designated Intermediary/Designated Branch of the SCSB.

9. Before submitting the Application Form with the Designated Intermediaries ensure that the SCSB, whose name has been filled in the Application Form, has named a branch in that relevant Collection Centre.

10. Ensure that you have been given an acknowledgement as proof of having accepted the Application Form.

11. Ensure that signatures other than in the languages specified in the Eighth Schedule to the Constitution of India is attested by a Magistrate or a Notary Public or a Special Executive Magistrate under official seal.

12. In case of any revision of Application in connection with any of the fields which are not allowed to be modified on the electronic application platform of the Stock Exchanges as per the procedures and requirements prescribed by each relevant Stock Exchanges, ensure that you have first withdrawn your original Application and submit a fresh Application. For instance, as per the notice No: 20120831-22 dated August 31, 2012 issued by the BSE, fields namely, quantity, Options, application no., sub-category codes will not be allowed for modification during the Issue. In such a case the date of the fresh Application will be considered for date priority for allotment purposes;

13. In case of an HUF applying through its Karta, the Applicant is required to specify the name of an Applicant in the Application Form as ‘XYZ Hindu Undivided Family applying through PQR’, where PQR is the name of the Karta. However, the PAN number of the HUF should be mentioned in the Application Form and not that of the Karta.

14. Ensure that the Applications are submitted to the Designated Intermediaries or Designated Branches of the SCSBs, as the case may be, before the closure of application hours on the Issue Closing Date. For further information on the Issue programme, please see “General Information – Issue Programme” on page 38

15. Permanent Account Number: Except for Application (i) on behalf of the Central or State Government and officials appointed by the courts, and (ii) (subject to SEBI circular dated April 3, 2008) from the residents of the state of Sikkim, each of the Applicants should provide their PAN. Application Forms in which the PAN is not provided will be rejected. The exemption for the Central or State Government and officials appointed by the courts and for investors residing in the State of Sikkim is subject to (a) the demographic details received from the respective depositories confirming the exemption granted to the beneficiary owner by a suitable description in the PAN field and the beneficiary account remaining in “active status”; and (b) in the case of residents of Sikkim, the address as per the demographic details evidencing the same.

16. Ensure that if the depository account is held in joint names, the Application Form should contain the name and PAN of the person whose name appears first in the depository account and signature of only this person would be required in the Application Form. This Applicant would be deemed to have signed on behalf of joint holders and would be required to give confirmation to this effect in the Application Form.

17. All Applicants should choose the relevant option in the column “Category of Investor” in the Application Form.

18. Choose and mark the series of NCDs in the Application Form that you wish to apply for.

Don’ts:

1. Do not apply for lower than the minimum application size.

2. Do not pay the Application Amount in cash, by cheque, by money order or by postal order or by stock invest.

3. Do not send Application Forms by post. Instead submit the same to the Designated Intermediaries or Designated Branches of the SCSBs, as the case may be.

4. Do not submit the Application Form to any non-SCSB bank or our Company.

5. Do not apply through an Application Form that does not have the stamp of the relevant Designated Intermediary or the Designated Branch of the SCSB, as the case may be.

6. Do not fill up the Application Form such that the NCDs applied for exceeds the Issue size and/or investment limit or maximum number of NCDs that can be held under the applicable laws or regulations or maximum amount permissible under the applicable regulations.

7. Do not submit the GIR number instead of the PAN as the Application is liable to be rejected on this ground.

8. Do not submit incorrect details of the DP ID, Client ID and PAN or provide details for a beneficiary account which is suspended or for which details cannot be verified by the Registrar to the Issue.

9. Do not submit the Application Form without ensuring that funds equivalent to the entire Application Amount are available for blocking in the relevant ASBA Account;

10. Do not submit Applications on plain paper or on incomplete or illegible Application Forms.

11. Do not apply if you are not competent to contract under the Indian Contract Act, 1872.

12. Do not submit an Application in case you are not eligible to acquire NCDs under applicable law or your relevant constitutional documents or otherwise.

13. Do not submit Applications to a Designated Intermediary at a location other than Collection Centers;

14. Do not submit an Application that does not comply with the securities law of your respective jurisdiction.

15. Do not apply if you are a person ineligible to apply for NCDs under this Issue including Applications by Persons Resident Outside India, NRI inter alia including NRIs who are (i) based in the USA, and/or, (ii) domiciled in the USA, and/or, (iii) residents/citizens of the USA, and/or, (iv) subject to any taxation laws of the USA)

16. Do not make an application of the NCD on multiple copies taken of a single form.

17. Payment of Application Amount in any mode other than through blocking of Application Amount in the ASBA Accounts shall not be accepted in the Issue.

18. Do not submit more than five Application Forms per ASBA Account.

Kindly note that Applications submitted to the Designated Intermediaries will not be accepted if the SCSB where the ASBA Account, as specified in the Application Form, is maintained has not named at least one branch at that location for the Designated Intermediaries, to deposit such Application Forms (A list of such branches is available at https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognised=yes).