BSEC (Public Issue) Rules 2015

8/20/2019 BSEC (Public Issue) Rules 2015

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BANGLADESH SECURITIES AND EXCHANGE COMMISSON

NOTIFICATION

28 December 2015

No. BSEC/CMRRCD/2003-109/182/Admi /!" # In exercise of the power conferred by section of the !ec"rities #nd $xch#n%e Ordin#nce& 1'(')Ordin#nce *+II of 1'(',& #nd in s"ppression of the !ec"rities #nd $xch#n%eCommission )-"b.ic Iss"e, /".es& 200( m#de in this beh#.f& the #n%.#desh!ec"rities #nd $xch#n%e Commission m# es& with prior circ".#tion& the

fo..owin% r".es& n#me.y 314 S$o%& &i&'(. These r".es m#y be c#..ed the #n%.#desh !ec"rities #nd

$xch#n%e Commission )-"b.ic Iss"e, /".es& 20154

24 D()i i&io *. )1, In these /".es& "n.ess there is #nythin% rep"%n#nt in thes"b6ect or context&3

)#, 7bidders me#ns the e.i%ib.e in9estors who h#9e p#rticip#ted inthe biddin%:

)b, 7boo 3b"i.din% method me#ns the process by which #n iss"er#ttempts to determine the price to offer its sec"rities b#sed ondem#nd from the e.i%ib.e in9estors:

)c, 7Commission me#ns the #n%.#desh !ec"rities #nd $xch#n%eCommission ) !$C, est#b.ished "nder the evsjv‡`k wmwKDwiwUR IG·‡PÄ Kwgkb AvBb, 1993 (1993 m‡bi 15 bs AvBb):

( 1133 ) .3 j¨ 5 UvKv !"#$$


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1133" evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)d, 7c"t3off price me#ns the .owest price offered by the bidders #twhich the $I portion of tot#. iss"e co".d be exh#"sted:

)e, 7e.i%ib.e in9estor or $I me#ns the fo..owin% instit"tion who h#s

b"siness oper#tion;in9estment in #n%.#desh 3i


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evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15 11339

) , 7non3resident #n%.#deshi )N/ , me#ns citi=ens of #n%.#deshst#yin% #bro#d inc."din% #.. those who h#9e d"#. citi=enship)pro9ided they h#9e 9#.id #n%.#desh p#ssports, or those& whoseforei%n p#ssports be#r st#mps from the concerned #n%.#desh$mb#ssy to the effect th#t no 9is# is re>"ired for tr#9e.in% to

#n%.#desh:

)., 7prospect"s me#ns #ny doc"ment& inc."din% # red3herrin% prospect"s& dr#ft prospect"s& inform#tion memor#nd"m #nd offerdoc"ment& prep#red for the p"rpose of comm"nic#tin% to thein9estors #n iss"er?s p.#n to offer for s#.e of its sec"rities:

)m, 7p"b.ic iss"e me#ns p"b.ic iss"e of sec"rities thro"%h initi#. p"b.ic offer or repe#t p"b.ic offer:

)n, 7re%istr#r to the iss"e me#ns # merch#nt b#n er or #ny person&emp.oyed by the iss"er& re%istered with or #ppro9ed by the

Commission for c#rryin% o"t the #cti9ities in re.#tion to #n iss"einc."din% processin% #pp.ic#tions from in9estors& eepin% recordof #pp.ic#tions #nd money recei9ed from in9estors or p#id to these..er of sec"rities& #ssistin% in determinin% the b#sis of #..otmentof sec"rities& fin#.i=in% the .ist of persons entit.ed to #..otment ofsec"rities #nd processin% #nd distrib"tin% #..otments& ref"nds orcertific#tes #nd other re.#ted doc"ments:

)#, 7re.#ted p#rty me#ns #ny person #s defined in A!32@ #s #re.#ted p#rty:

)b, 7repe#t p"b.ic offer or /-O me#ns f"rther p"b.ic offer by #niss"er who h#s .isted its sec"rities with #ny exch#n%e or h#s

r#ised c#pit#. thro"%h p"b.ic offer4 Iss"#nce of #ddition#.sec"rities h#9in% con9ersion fe#t"res )into ordin#ry sh#res, bythe s#id iss"er sh#.. #.so be deemed to be repe#t p"b.ic offer forthe p"rpose of these /".es:

)c, 7ro#d show me#ns present#tion by #n iss"er #nd iss"e m#n#%erto e.i%ib.e in9estors )$I, #bo"t the iss"#nce of sec"ritiesdisc.osin% #.. the fe#t"res:

)d, 7red3herrin% prospect"s me#ns # pre.imin#ry prospect"s fi.ed by #n iss"er which cont#ins #.. the inform#tion pert#inin% to theiss"er #nd the iss"e inc."din% the tot#. #mo"nt to be r#isedthro"%h the p"b.ic iss"e& b"t does not inc."de the iss"e price #nd

the n"mber of sec"rities to be offered:)e, 7sponsor me#ns #ny person whose n#me #ppe#rs #s s"bscriber

to the


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113!$ evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)2, ords #nd expressions "sed herein #nd not defined& b"t defined inthe !ec"rities #nd $xch#n%e Ordin#nce& 1'(' )*+II of 1'(',& e/vsK%Kv*4vwb AvBb, 1991 (1991 m‡bi 1! bs AvBb), evsjv‡`k wmwKDwiwUR I G·‡PÄ Kwgkb AvBb, 1993 (1993 mv‡ji 15 bs AvBb), Avw - K 06 w'7vb AvBb, 1993(1993 m‡bi b*+ i AvBb), ‡Kv*4vwb AvBb, 199! (199! m‡bi 1" b*+ i AvBb), w 0wRUwi AvBb, 1999 (1999 m‡bi b*+ i AvBb), e8gv AvBb, $1$ ( $1$ m‡bi13 b*+ i AvBb), vBbvw :vj wi‡0vwUs AvBb, $15 ( $15 m‡bi 1 b*+ i AvBb)sh#.. h#9e the s#me me#nin%s respecti9e.y #ssi%ned to them in thes#id Acts #nd the Ordin#nces& #nd the /".es #nd /e%".#tions m#dethere"nder4

3. R(+,i%(m( &* )o% )i'i 'i &io )o% , 'i o))(%.-

)1, App.ic#tion for consent "nder these /".es m#y be m#de on #ny ofthe fo..owin% methods 3

)#, fixed price method& when offered #t p#r 9#."e: or

)b, boo 3b"i.din% method& when offered #bo9e p#r 9#."e4)2, Bener#. re>"irements An iss"er m#y m# e #n #pp.ic#tion for p"b.ic

offer of its sec"rities& if 3

)#, it offers #n #mo"nt of #t .e#st e>"i9#.ent to 10 of its p#id3"pc#pit#. )inc."din% intended offer, or T 4 15 crore #t p#r 9#."e&whiche9er is hi%her:

)b, it h#s minim"m existin% p#id "p c#pit#. of T 4 15 crore:

)c, it h#s not m#de #ny m#teri#. ch#n%e inc."din% r#isin% of p#id3"pc#pit#. #fter the d#te of #"dited fin#nci#. st#tements #s inc."dedin the prospect"s:

)d, the iss"e m#n#%er is in no w#y connected with the iss"er notdoes ho.d #ny of its sec"rities:

)e, it h#s prep#red its fin#nci#. st#tements in #ccord#nce with there>"irements of the !ec"rities #nd $xch#n%e /".es& 1'8 & the

pro9isions of IF/! ;IA! #s #dopted in #n%.#desh #nd #"ditedthe s#me #s per #n%.#desh !t#nd#rds on A"ditin% ) !A, #swe.. #s the Comp#nies Act& 1''@ #nd other #pp.ic#b.e .e%#.re>"irements:

)f, it h#s %ot cost #"dit by profession#. #cco"nt#nts #s per theComp#nies Act& 1''@& if #pp.ic#b.e:

)%, it h#s %ot its .#test fin#nci#. st#tements #"dited by the p#ne.#"ditors #s dec.#red by the Commission from time to time:

)h, it h#s been re%".#r in ho.din% #nn"#. %ener#. meetin% )AB


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evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15 113!1

)i, it h#s comp.ied with the pro9isions of Corpor#te Bo9ern#nceB"ide.ines #s p"b.ished by the Commission from time to time:

)6, it h#s comp.ied with #.. the re>"irements of these /".es in

prep#rin% prospect"s:) , it h#s no #cc"m".#ted ret#ined .oss #t the time of #pp.ic#tion:

)., it h#s comp.ied with the pro9isions of %"ide.ines re%#rdin%9#."#tion of #ssets& if #ny& #s p"b.ished by the Commission fromtime to time: #nd

)m, The iss"er or #ny of its directors is not # b#n def#".ter4

) , Addition#. re>"irements for fixed price method

)#, if it h#s been in commerci#. oper#tion #t .e#st for immedi#te .#st )three, ye#rs& it h#s positi9e net profit #fter t#x #nd net

oper#tin% c#sh f.ow #t .e#st for immedi#te precedin% 2 )two,fin#nci#. ye#rs: if it h#s been in commerci#. oper#tion for # period .ess th#n )three, ye#rs& it h#s positi9e net profit #fter t#x#nd net oper#tin% c#sh f.ow #t .e#st for the .#test fin#nci#. ye#r:if it h#s not st#rted its commerci#. oper#tion or not comp.eted#ny fin#nci#. period yet& it h#s positi9e pro6ected net profit #ftert#x #nd net oper#tin% c#sh f.ow: #nd

)b, #t .e#st 5 of the iss"e h#s been "nderwritten on # firmcommitment b#sis by the "nderwriter)s,4

)@, Addition#. re>"irements for boo 3b"i.din% method

)#, it h#s been in commerci#. oper#tion #t .e#st for immedi#te .#st )three, ye#rs:

)b, it h#s m#de net profit #fter t#x #t .e#st for immedi#te precedin%2 )two, fin#nci#. ye#rs:

)c, it h#s positi9e net oper#tin% c#sh f.ow #t .e#st for immedi#te precedin% 2 )two, fin#nci#. ye#rs:

)d, it h#s #ppointed sep#r#te persons #s iss"e m#n#%er #nd re%istr#rto the iss"e for m#n#%in% the iss"e:

)e, the iss"er;iss"e h#s been r#ted by # credit r#tin% comp#nyre%istered with the Commission:

)f, #t .e#st 5 of the iss"e h#s been "nderwritten on # firmcommitment b#sis by the "nderwriter)s,4


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113! evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)5, Addition#. re>"irements for /epe#t -"b.ic Offer4

A. An iss"er of # .isted sec"rities m#y m# e repe#t p"b.ic offer&s"b6ect to comp.i#nce with the fo..owin% conditions

)#, Inform#tion concernin% the repe#t p"b.ic offer sh#.. bedissemin#ted #s price sensiti9e inform#tion immedi#te.y "pon

bo#rd decision #s we.. #s "pon #ppro9#. #t the %ener#. meetin%#nd #ppro9#. of the Commission& in #ccord#nce with the re.e9#ntnotific#tions iss"ed by the Commission:

)b, There sho".d be #n exp.icit #nno"ncement whi.e dissemin#tin%the inform#tion in first two e9ents "nder s"b3r".e )#, th#t therepe#t p"b.ic offer sh#.. be s"b6ect to #ppro9#. of theCommission:

)c, !"ch offer h#s been #ppro9ed by the bo#rd& the sh#reho.ders in #%ener#. meetin%& #nd the consent to which is obt#ined from theCommission:

)d, The proceeds of pre9io"s p"b.ic offer or ri%hts iss"e& #s the c#sem#y be& h#9e been "ti.i=ed f"..y #nd re.e9#nt reports were d".ys"bmitted to the Commission:

)e, The iss"e h#s been f"..y "nderwritten on # firm commitment b#sis by the "nderwriter)s,: #nd

)f, The iss"er;iss"e h#s been r#ted by # credit r#tin% comp#nyre%istered with the Commission4

B. Distrib"tion mech#nism of sec"rities h#9in% con9ersion fe#t"res

)#, At .e#st @0 of the iss"e sh#.. be reser9ed for the existin%sh#reho.ders:

)b, At .e#st @0 of the iss"e sh#.. be reser9ed for -"b.ic Offer: #nd

)c,


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#s per re>"irements of these r".es #nd re.e9#nt .istin% re%".#tionsof the exch#n%es& #.on% with ten copies of the red3herrin%

prospect"s;prospect"s;inform#tion memor#nd"m& prep#red #s perre>"irements of these /".es& d".y comp.eted& to%ether with #..

#nnexes thereto& d".y si%ned on e#ch p#%e& by the iss"er?s chiefexec"ti9e officer or m#n#%in% director& chief fin#nci#. officer&comp#ny secret#ry #nd chief exec"ti9e officer or m#n#%in%director of the iss"e m#n#%er:

)b, immedi#te #fter s"bmission of the #pp.ic#tion& the iss"er sh#.. post the red3herrin% prospect"s;prospect"s;inform#tionmemor#nd"m in the websites of the iss"er #nd the iss"em#n#%er)s, which sh#.. be "pd#ted with #ny ch#n%e m#de thereof:

)c, the #"dited fin#nci#. st#tements of the iss"er m"st be s"bmitted#.on% with the #pp.ic#tion #nd prospect"s;red3herrin%

prospect"s;inform#tion memor#nd"m& b"t the s#id fin#nci#.st#tements sh#.. not be o.der th#n 120 d#ys #t the time ofs"bmission to the Commission:

)d, #.. the re>"ired doc"ments #s per Annex"re 3 A& & C& D #nd Bsh#.. be s"bmitted with the #pp.ic#tion:

)e, #ny #mendment to the prospect"s& si%ned by the s#id persons&sh#.. #.so h#9e to be fi.ed with the Commission #nd theexch#n%es& in #ccord#nce with c.#"se )#,:

)f, #fter recei9in% the #pp.ic#tion& the exch#n%e)s, sh#.. s"bmit its prim#ry recommend#tion to the Commission #.on% with chec .ist&within 20 )twenty, d#ys of receipt of the #pp.ic#tion #nd p"b.ic

offer doc"ments& #fter d"e ex#min#tion of the s#me in .ine withthe pro9isions of these r".es:

)%, the Commission sh#.. 9erify the #pp.ic#tion& doc"ments #nd prim#ry recommend#tion of the exch#n%es:

)h, the Commission or the exch#n%es m#y re>"ire the iss"er or itsdirectors& officers& iss"e m#n#%er)s,& #"ditors& 9#."er)s,& to s"bmit#ddition#. disc.os"re& inform#tion& doc"ments& certific#tion #ndc.#rific#tion& #s the c#se m#y be& to prod"ce or to disc.ose& in the

prospect"s& red3herrin% prospect"s or the inform#tionmemor#nd"m for s#.e of sec"rities& within s"ch time #s m#y bestip".#ted:

)i, the iss"er or its directors& officers& iss"e m#n#%er)s,& #"ditors&9#."er)s, sh#.. f".fi.. s"ch re>"irements within s"ch time:


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113!! evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)6, the exch#n%e)s, sh#.. s"bmit its fin#. recommend#tion #.on% with# dec.#r#tion #s prescribed in the .istin% re%".#tions to theCommission on the iss"e within se9en d#ys of recei9in% s"ch#ddition#. disc.os"re& inform#tion& doc"ments& certific#tion #nd

c.#rific#tion4 A.. the comm"nic#tions to or from the exch#n%essh#.. be intim#ted to the Commission:

) , the Commission& #fter ex#min#tion of the inform#tion&doc"ments& recommend#tions of the exch#n%es #nd considerin%#.. the f#ctors& sh#.. t# e decision to #ppro9e or re6ect the#pp.ic#tion for p"b.ic offer of sec"rities thro"%h iss"#nce of

prospect"s4

)2, Addition#. re>"irements for boo b"i.din% method)#, Cond"ctin% ro#d show #nd s"bmission of #pp.ic#tion

)i, The iss"er;iss"e m#n#%er sh#.. send in9it#tion to the e.i%ib.ein9estors& both in writin% #nd thro"%h p"b.ic#tion in #t .e#st 5)fi9e, wide.y circ".#ted n#tion#. d#i.ies& %i9in% #t .e#st 10)ten, wor in% d#ys? time& to the ro#d show indic#tin% time#nd 9en"e of s"ch e9ent4 The in9it#tion .etter sh#..#ccomp#ny # red3herrin% prospect"s cont#inin% #.. re.e9#ntinform#tion co9erin% the proposed si=e of the iss"e #nd #t.e#st )three, ye#rs #"dited fin#nci#. st#tements #nd 9#."#tionreport& prep#red by the iss"e m#n#%er witho"t mentionin% #nyindic#ti9e price& #s per intern#tion#..y #ccepted 9#."#tionmethods4 The red3herrin% prospect"s sh#.. be prep#redwitho"t mentionin% the iss"e price or n"mber of sec"rities to

be offered:

)ii, /epresent#ti9es from the exch#n%es sh#.. present in the ro#dshow #s obser9ers:

)iii, $.i%ib.e in9estors sh#.. s"bmit their comments #ndobser9#tions& if #ny& to the iss"er or iss"e m#n#%er within0 )three, wor in% d#ys of the ro#d show:

)i9, After comp.etion of the ro#d show& the red3herrin% prospect"ssh#.. be fin#.i=ed on the b#sis of comments #nd obser9#tionsof the $Is p#rticip#ted in the ro#d show4 The 9#."#tion report#s fin#.i=ed m"st be inc."ded in the red3herrin% prospect"sinc."din% det#i. #bo"t the >"#.it#ti9e& >"#ntit#ti9e f#ctors #ndmethods of 9#."#tion:

)9, The #pp.ic#tion #.on% with the red3herrin% prospect"s #ndre>"ired doc"ments sh#.. be sim".t#neo"s.y s"bmitted to theCommission #nd the exch#n%es #s per r".e @)1,)#,4


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)b, Consent for biddin% to determine the c"t3off price Afterex#min#tion of the prospect"s #nd re.e9#nt doc"ments& theCommission& if s#tisfied& sh#.. iss"e consent to commence

biddin% by the e.i%ib.e in9estors for determin#tion of the c"t3off

price4)c, Determin#tion of the c"t3off price

)i, $.i%ib.e in9estors sh#.. p#rticip#te in the e.ectronic biddin% process #nd s"bmit their intended >"#ntity #nd price

pro9ided th#t #ny connected person on re.#ted p#rty ofthe iss"er sh#.. not be e.i%ib.e to p#rticip#te in the

biddin% process:

)ii, No e.i%ib.e in9estor sh#.. >"ote for more th#n 10 )ten percent, of the tot#. #mo"nt offered to the e.i%ib.e

in9estors:)iii, $.i%ib.e in9estors? biddin% sh#.. be opened for 2

)se9enty two, ho"rs ro"nd the c.oc :

)i9, The biddin% wi.. be cond"cted thro"%h #n "niform #ndinte%r#ted #"tom#ted system of the exch#n%es& especi#..yde9e.oped for boo b"i.din% process:

)9, The 9#."e of bid #t different prices wi.. be disp.#yed onthe screen witho"t identifyin% the bidders:

)9i, The bidders sh#.. deposit #t .e#st 20 )twenty percent,of the bid #mo"nt in #d9#nce in the desi%n#ted b#n

#cco"nt m#int#ined by the exch#n%e cond"ctin% the biddin%:

)9ii, The bidders c#n re9ise their bids for once& within the biddin% period& "p to 20 9#ri#tion of their first bid price:

)9iii, After comp.etion of the biddin% period& the c"t3off pricewi.. be determined #t ne#rest inte%er of the .owest bid

price #t which the tot#. sec"rities offered to e.i%ib.ein9estors wo".d be exh#"sted:

)ix, A.. the e.i%ib.e in9estors p#rticip#tin% in the biddin%sh#.. be offered to s"bscribe the sec"rities #t the c"t3off

price4 It is m#nd#tory for $Is biddin% #t or #bo9e the c"t3off price to s"bscribe "p to their intended >"#ntity b"toption#. for $Is biddin% be.ow the c"t3off price:


10/57


)x, The e.i%ib.e in9estors sh#.. be #..otted sec"rities on pro3r#t# b#sis within their c#te%ory3wise >"ot# #t the c"t3off

price4 The c#te%ory3wise >"ot# sh#.. be determined on

the b#sis of distrib"tin% the tot#. sec"rities reser9ed forother e.i%ib.e in9estors e>"#..y to e#ch of the c#te%ory ofe.i%ib.e in9estors p#rticip#tin% in the biddin%& exceptm"t"#. f"nds4


11/57

evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15 113!

". o%m & d o &( &* o) &$( %o* ( &,* d %id (d (%*io &$(%(o).-

The red3herrin% prospect"s;prospect"s;inform#tion memor#nd"m sh#.. be prep#red #s per Annex"re $ #nd the #brid%ed 9ersion of prospect"s sh#..

be prep#red #s per Annex"re F of these /".es4!. Di*&%i ,&io m( $ i*m o) *( ,%i&i(*.-

I**,( m(&$od E'i i '( i (*&o%* 4EI*5 G( (% ' , 'i

M,&, ' , d* O&$(% EI* NRB O&$(%*

Fixed price 10 @0 10 @0

oo "i.din% 10 50 10 0

pro9ided th#t in c#se of "nder3s"bscription in #ny c#te%ory by "p to 5 in#n initi#. p"b.ic offer& the "ns"bscribed portion of sec"rities sh#.. be t# en"p by the "nderwriter)s,

f"rther pro9ided th#t in c#se of "nder3s"bscription in #ny of c#te%ories#bo9e 5 & #n initi#. p"b.ic offer sh#.. be considered #s c#nce..ed4

6. 7, 'i &io o) %o* ( &,* d o ( i o) *, * %i &io 'i*&.-

)1, Epon recei9in% the consent of the Commission to the iss"e of c#pit#."nder these r".es& the #brid%ed 9ersion of prospect"s prep#red #s perAnnex"re F& #s #ppro9ed by the Commission& sh#.. be p"b.ished by theiss"er in fo"r n#tion#. d#i.y newsp#pers )in two #n%.# #nd two $n%.ish,&within the time specified in the .etter of consent iss"ed by theCommission4 The f".. prospect"s sh#..& howe9er& be posted on websitesof the Commission& exch#n%es& iss"er #nd the iss"e m#n#%er)s,4

)2, The s"bscription for %ener#. p"b.ic sh#.. commence #fter 25 )TwentyFi9e, d#ys of the p"b.ic#tion of the #brid%ed 9ersion of the prospect"s#nd sh#.. rem#in opened "p to 25 th )twenty fifth, wor in% d#y from thed#te of p"b.ic#tion of #brid%ed 9ersion of prospect"s4 The s"bscriptionsh#.. be m#de #s per the p"b.ic iss"e #pp.ic#tion process mentioned inthe consent .etter4

) , Epon comp.etion of the period of s"bscription for sec"rities #smentioned in s"b3r".e )2,& the iss"er sh#.. inform the Commission #ndthe exch#n%es& within fi9e wor in% d#ys of c.os"re of s"ch comp.etion&in respect of the fo..owin% m#tters& n#me.y 3

)#, tot#. n"mber of sec"rities for which s"bscription h#s beenrecei9ed: #nd

)b, #mo"nt recei9ed from the s"bscription4


12/57

113!" evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

8. 7%o* ( &,* d('i (% %(+,i%(m( &*.

)1, !"fficient copies of prospect"s sh#.. be m#de #9#i.#b.e by the iss"er soth#t #ny person re>"estin% # copy m#y recei9e one:

)2, The iss"er sh#.. post the prospect"s 9etted by the Commission in theiss"er?s website #nd #.so p"t on the websites of the Commission&exch#n%es& #nd the iss"e m#n#%er within three wor in% d#ys from thed#te of #ccordin% consent which sh#.. rem#in posted ti.. the c.os"re ofthe s"bscription .ist4 The iss"er sh#.. s"bmit to the Commission #nd theexch#n%es the 9etted -rospect"s in 7

) , A notice sh#.. be p.#ced on the website th#t interested persons #reentit.ed to the prospect"s& if they so desire& #nd th#t copies of prospect"sm#y be obt#ined from the iss"er #nd the iss"e m#n#%er4

9. Limi& &io o &$( ,*( o) &$( %o* ( &,*.

)1, A prospect"s m#y be "sed to offer the sec"rities "nti. #ny of thefo..owin% e9ents occ"r& n#me.y 3

)#, there #re m#teri#. ch#n%es in #ny of the inform#tion inc."ded in the prospect"s: #nd

)b, #ny tr#ns#ction or e9ent which is m#teri#. to #ffect or ch#n%e theconditions "nder which the p"b.ic offer is bein% m#de #s per thecontents of the prospect"s #nd which sho".d h#9e otherwise beenre>"ired to be reported to the Commission4

)2, If #ny of the #bo9e e9ents occ"r& the offer sh#.. st#nd s"spended "nti. #n#mendment d".y si%ned by #.. the directors of the iss"er& the chiefexec"ti9e officers of both the iss"er #nd the iss"e m#n#%er to the

prospect"s f"rnishin% the #ppropri#te inform#tion h#s been fi.ed with#nd dec.#red effecti9e by the Commission4

) , The occ"rrence of #ny of the e9ents mentioned in s"b3r".e )1, sh#.. benotified to the %ener#. p"b.ic #fter s"ch dec.#r#tion h#s been m#deeffecti9e by the Commission in fo"r n#tion#. d#i.y newsp#pers in whichthe #brid%ed 9ersion of the prospect"s w#s p"b.ished prior to the d#te ofthe openin% of the s"bscription

pro9ided th#t in c#se there is #ny necessity for #mendment to the prospect"s d"rin% the s"bscription period& in th#t c#se& the s"bscriptionm#y be s"spended by the Commission #nd the s"bscribers who h#9e#.re#dy deposited money m#y decide either to withdr#w his #pp.ic#tionor contin"e with it4

)@, A dec.#r#tion "nder s"b3r".e ) , sh#.. st#te in det#i. the n#t"re of ch#n%eor e9ent which h#s occ"rred #fter the p"b.ic#tion of the prospect"s #ndsh#.. be si%ned by #.. the directors of the comp#ny #nd the C$Os of theiss"er #nd the iss"e m#n#%er #nd # copy of the s#id dec.#r#tion sh#.. bes"bmitted to the Commission4


13/57


10. Lo :-i # Ordin#ry sh#res of the iss"er sh#.. be s"b6ect to .oc 3in& from thed#te of iss"#nce of prospect"s or commerci#. oper#tion& whiche9er comes.#ter& in the fo..owin% m#nner

)1, A.. sh#res he.d& #t the time of #ccordin% consent to the p"b.ic offer& bysponsors& directors #nd sh#reho.ders ho.din% 5 or more sh#res& otherth#n #.tern#ti9e in9estment f"nds& for 0 )three, ye#rs:

)2, A.. sh#res #..otted& before 02)two, ye#rs of #ccordin% consent to the p"b.ic offer& to #ny person& other th#n #.tern#ti9e in9estment f"nds& for0 )three, ye#rs:

) , In c#se #ny existin% sponsor or director of the iss"er tr#nsfers #ny sh#reto #ny person& other th#n existin% sh#reho.ders& within precedin% 12)twe.9e, months of s"bmittin% #n #pp.ic#tion for r#isin% of c#pit#. oriniti#. p"b.ic offer )I-O,& #.. sh#res he.d by those tr#nsfereesh#reho.ders& for 0 )three, ye#rs:

)@, 25 of the sh#res #..otted to e.i%ib.e in9estors& for 0 )three, months#nd other 25 of the sh#res #..otted to them& for 0( )six, months:)5, A.. sh#res he.d by #.tern#ti9e in9estment f"nds& for 01)one, ye#r: #nd)(, !h#res #..otted& within two ye#rs of #ccordin% consent to the p"b.ic

offer& to #ny person other th#n the sh#res mentioned in s"b3r".es )1,&)2,& ) ,& )@,& #nd )5, #bo9e& for 01)one, ye#r4

-ro9ided th#t ordin#ry sh#res con9erted from #ny other type of sec"ritiessh#.. #.so be s"b6ect to .oc 3in #s mentioned #bo9e4

11. I**,( m (% 43)1, The iss"er sh#.. #ppoint one or more iss"e m#n#%er& re%istered with the

#n%.#desh !ec"rities #nd $xch#n%e Commission& for the p"rpose ofm# in% the p"b.ic offer:

)2, The iss"e m#n#%er)s, sh#.. be entit.ed to fees #nd be responsib.e for theiss"e inc."din% prep#r#tion #nd disc.os"res m#de in the prospect"s& ro#dshow #nd "se of the p"b.ic iss"e proceeds by the iss"er4

12. U d(%;%i&(%*4-)1, The iss"er m# in% p"b.ic offer sh#.. #ppoint "nderwriter)s,& re%istered

with the #n%.#desh !ec"rities #nd $xch#n%e Commission& on # firmcommitment b#sis:

)2, The iss"er& in the e9ent of "nder s"bscription& sh#.. send notice to the"nderwriter)s, within ten d#ys of c.os"re of s"bscription c#..in% "pon

them to s"bscribe the sec"rities #nd p#y for this in c#sh in f".. withinfifteen d#ys of the d#te of s#id notice #nd the s#id #mo"nt sh#.. becredited into sec"rities s"bscription #cco"nt within the s#id period:


14/57

1135$ evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

) , The "nderwritin% #%reement sh#.. cont#in # condition to the effect #smentioned in s"b3r".e )2,:

)@, The iss"er sh#..& within se9en d#ys of the expiry of the period mentioned

in s"b r".e )2,& send to the Commission proof of s"bscription #nd depositof the money by the "nderwriter)s,4

13. D( & S( ,%i&i(* d U i&* o) , d*#

)1, For iss"#nce of debt sec"rities thro"%h p"b.ic offer& #n iss"er sh#..s"bmit #pp.ic#tion "nder these /".es "pon comp.i#nce of re.e9#ntre>"irements of the !ec"rities #nd $xch#n%e Commission )-ri9#te-.#cement of Debt !ec"rities, /".es& 2012:

)2, For iss"#nce of "nits of #ny f"nd thro"%h p"b.ic offer& #n iss"er sh#..s"bmit #pp.ic#tion "nder these /".es "pon comp.i#nce of re.e9#nt

re>"irements of the /".es concerned for the f"nd41 %(?( &io d %( i(;.

)1, On receipt of #n #pp.ic#tion of consent for p"b.ic offer from #n iss"er&the Commission sh#.. re9iew the s#id #pp.ic#tion to #scert#in whether itis comp.ete #nd #ccept#b.e:

)2, In c#se the s#id #pp.ic#tion is incomp.ete& the Commission sh#.. informthe iss"er in writin%& to remo9e the incomp.eteness;deficiencies& within@0 )forty, wor in% d#ys& #fter ex#min#tion of the s#id #pp.ic#tion:


15/57


) , If the iss"er f#i.s to remo9e the incomp.eteness within the stip".#tedtime& it sh#.. h#9e to fi.e # fresh #pp.ic#tion:

)@, The Commission sh#.. iss"e .etter of consent& s"b6ect to s"ch conditions

#s it m#y deem fit to specify& within (0 )sixty, wor in% d#ys of receiptof # comp.ete #pp.ic#tion& if s"ch #pp.ic#tion is #ccept#b.e to theCommission:

)5, If the #pp.ic#tion is not #ccept#b.e to the Commission& it sh#.. iss"e #re6ection .etter& st#tin% the re#sons for s"ch re6ection& within (0 )sixty,wor in% d#ys of receipt of the .#st correspondence:

)(, The iss"er& whose #pp.ic#tion h#s been re6ected by the Commission& m#y#pp.y for re9iew to the Commission within (0 )sixty, wor in% d#ysfrom the d#te of s"ch re6ection& #nd the decision of the Commissionthereon sh#.. be fin#.:

) , The Commission reser9es the ri%ht to #ccept or re6ect #ny p"b.ic iss"e propos#. in its own discretion in the %re#ter interest of the in9estors #ndthe c#pit#. m#r et #s we..4

1!. Co &% ( &io . If #ny iss"er or #ny other person re.#ted with the iss"e9io.#tes #ny of the pro9isions of these /".es or f"rnishes f#.se& incorrect&mis.e#din% inform#tion or s"ppresses #ny inform#tion& the #n%.#desh!ec"rities #nd $xch#n%e Commission m#y t# e #ppropri#te #ctions "nderthe !ec"rities #nd $xch#n%e Ordin#nce& 1'('4

16. Commi**io d( i*io *$ '' ( )i ' o (%& i m &&(%.- Notwithst#ndin% #nythin% cont#ined in these /".es& in the e9ent of #ny

conf"sion or difference of opinion on #ny m#tter wh#tsoe9er& thedecision of the Commission sh#.. be fin#. #nd bindin% on #.. concerned4

18. R( ( ' d S i *. 3

)1, The !ec"rities #nd $xch#n%e Commission )-"b.ic Iss"e, /".es& 200( ishereby repe#.ed4

)2, Notwithst#ndin% the repe#. of the s#id /".es& #ny consent %i9en&doc"ment or #%reement m#de& fee recei9ed or p#id& reso."tion p#ssed&direction %i9en& proceedin% t# en& instr"ment exec"ted or iss"ed orthin%s done "nder or in p"rs"#nce of the s#id /".es sh#..& if in force

before the commencement of these /".es& contin"e to be in force #ndsh#.. h#9e effect #s if m#de& directed& p#ssed& %i9en& t# en& exec"ted&iss"ed or done "nder or in p"rs"#nce of these /".es4


16/57

1135 evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15 Annexure- A

D( ' % &io o,& &$( %(* o *i i'i& o) &$( di%( &o%*> i ',di &$( CEO o)&$( i**,(% i %(* ( & o) &$( %(d-$(%%i %o* ( &,*/ %o* ( &,*/i )o%m &io

m(mo% d,m

@S(( %,'( < 4154d5

This red3herrin% prospect"s; prospect"s;inform#tion memor#nd"m h#s been prep#red& seen #nd #ppro9ed by "s& #nd we& indi9id"#..y #nd co..ecti9e.y& #cceptf".. responsibi.ity for the #"thenticity& #cc"r#cy #nd #de>"#cy of the st#tementsm#de& inform#tion %i9en in the prospect"s& doc"ments& fin#nci#. st#tements&exhibits& #nnexes& p#pers s"bmitted to the Commission in s"pport thereof& #ndconfirm& #fter m# in% #.. re#son#b.e in>"iries th#t #.. conditions concernin% this

p"b.ic iss"e #nd prospect"s h#9e been met #nd th#t there #re no other inform#tionor doc"ments& the omission of which m# e #ny inform#tion or st#tements therein

mis.e#din% for which the Commission m#y t# e #ny ci9i.& crimin#. or#dministr#ti9e #ctions #%#inst #ny or #.. of "s #s it m#y deem fit4

e #.so confirm th#t f".. #nd f#ir disc.os"res h#9e been m#de in this red3herrin% prospect"s; prospect"s;inform#tion memor#nd"m to en#b.e the in9estors to m# e# we.. informed decision for in9estment4

Si &,%(

@ ,'' N m(

D(*i &io

D &(


17/57


Annexure-B

D,( di'i ( ( (%&i)i &( &o ( ),% i*$(d i**,( m (%4*5 i &$( %(d-$(%%i %o* ( &,*/ %o* ( &,*/i )o%m &io m(mo% d,m

@S(( %,'( < 4154d5To

T$( B ' d(*$ S( ,%i&i(* d E= $ ( Commi**io

S, # 7, 'i I**,( o) ................. O%di % S$ %(*/7%()(%( ( S$ %(*/ D( &S( ,%i&i(* o) T:. ............... ........ 4N m( o) &$( I**,(%5.

D( % Si%>

e& the iss"e m#n#%er)s, to the #bo9e3mentioned forthcomin% iss"e& st#te #ndconfirm #s fo..ows

)1, e h#9e ex#mined #.. the doc"ments s"bmitted with the #pp.ic#tion forthe #bo9e mentioned p"b.ic iss"e& 9isited the premises of the iss"er #ndinter9iewed the Ch#irperson& Directors #nd ey m#n#%ement personne.of the iss"er in connection with the fin#.i=#tion of the red3herrin%

prospect"s; prospect"s;inform#tion memor#nd"m pert#inin% to the s#id iss"e:

)2, On the b#sis of s"ch ex#min#tion #nd the disc"ssions with the directors&officers #nd #"ditors of the iss"er& other #%encies& independent9erific#tion of the st#tements concernin% ob6ects of the iss"e #nd thecontents of the doc"ments #nd other m#teri#.s f"rnished by the iss"er4

E CON IRM THAT#

)#, The red3herrin% prospect"s; prospect"s;inform#tion memor#nd"m fi.edwith the Commission is in conformity with the doc"ments& m#teri#.s #nd

p#pers re.e9#nt to the iss"e:

)b, A.. the .e%#. re>"irements re.#tin% to the iss"e #s #.so in the r".es&notific#tion& %"ide.ines& instr"ctions& etc4 fr#med;iss"ed by theCommission& other competent #"thorities in this beh#.f #nd theBo9ernment h#9e been d".y comp.ied with:

)c, The disc.os"res m#de in red3herrin% prospect"s; prospect"s; inform#tionmemor#nd"m #re tr"e& f#ir #nd #de>"#te to en#b.e the in9estors to m# e# we.. informed decision for in9estment in the proposed iss"e #nd s"chdisc.os"res #re in #ccord#nce with the re>"irements of the Comp#niesAct& 1''@& the #n%.#desh !ec"rities #nd $xch#n%e Commission )-"b.icIss"e, /".es& 2015 #nd other #pp.ic#b.e .#ws:

)d, esides o"rse.9es& #.. the intermedi#ries n#med in the red3herrin% prospect"s; prospect"s; inform#tion memor#nd"m #re re%istered with theCommission #nd th#t ti.. d#te s"ch re%istr#tions #re 9#.id:


18/57


)e, e h#9e s#tisfied o"rse.9es #bo"t the c#p#bi.ity of the "nderwriters tof".fi.. their "nderwritin% commitments:

)f, The proposed #cti9ities of the iss"er for which the f"nds #re bein% r#isedin the present iss"e f#.. within the m#in ob6ects? .isted in the ob6ectc.#"se of the


19/57


D,( di'i ( ( (%&i)i &( &$( , d(%;%i&(%4*, @S(( %,'( < 4154d5

To T$( B ' d(*$ S( ,%i&i(* d E= $ ( Commi**ioS, # 7, 'i o))(% o) .................... O%di % S$ %(*/7%()(%%(d S$ %(*/ D( &

S( ,%i&i(* o) T:. .......................... o) ..........4N m( o) &$( I**,(%5De#r !ir&

e& the "nder3noted Enderwriter)s, to the #bo9e3mentioned forthcomin% iss"e&st#te indi9id"#..y #nd co..ecti9e.y #s fo..ows

)1, e& whi.e "nderwritin% the #bo9e mentioned iss"e on # firmcommitment b#sis& h#9e ex#mined the dr#ft prospect"s& other doc"ments#nd m#teri#.s #s re.e9#nt to o"r "nderwritin% decision: #nd

)2, On the b#sis of s"ch ex#min#tion #nd the disc"ssions with the iss"ercomp#ny& its directors #nd officers& #nd other #%encies& independent9erific#tion of the st#tements concernin% ob6ects of the iss"e #nd thecontents of the doc"ments #nd other m#teri#.s f"rnished by the iss"ercomp#ny4

E CON IRM THAT#)#, e #re re%istered with the #n%.#desh !ec"rities #nd $xch#n%e

Commission #s # merch#nt b#n er #nd e.i%ib.e to c#rry o"t the"nderwritin% #cti9ities4 O"r present p#id3"p c#pit#. st#nds #tT GGGG44 )GGGGG, #nd we h#9e the c#p#city to "nderwrite #tot#. #mo"nt of T GGG4)GG44, #s per re.e9#nt .e%#. re>"irements4

e h#9e committed to "nderwrite for "p to T GGGG4)GG4, for the"pcomin% iss"e4

)b, At present& the fo..owin% "nderwritin% ob.i%#tions #re pendin% for "s)N#me of iss"e #nd #mo"nt "nderwritten,

i, GGGGGii, GGGGG

)c, A.. inform#tion #s #re re.e9#nt to o"r "nderwritin% decision h#9e beenrecei9ed by "s #nd the dr#ft prospect"s forw#rded to the Commission h#s

been #ppro9ed by "s:)d, e sh#.. s"bscribe #nd t# e "p the "n3s"bscribed sec"rities #%#inst the

#bo9e3mentioned p"b.ic iss"e within 15 )fifteen, d#ys of c#..in% "pthereof by the iss"er: #nd

)e, This "nderwritin% commitment is "ne>"i9oc#. #nd irre9oc#b.e4

o% &$( U d(%;%i&(%#


20/57

1135 evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15 Annexure -D

R &io* (%&i ( & &o &$( %(d-$(%%i %o* ( &,*/ %o* ( &,*/i )o%m &iom(mo% d,m

@*(( %,'( < 4154d5

14 Amon% others& the fo..owin% r#tios of the iss"er for the .#st 05)fi9e,ye#rs or shorter period from commerci#. oper#tion certified by theA"ditors:

24 If the iss"er is not in commerci#. oper#tion& pro6ected r#tios sh#.. bef"rnished:

4 Any other r#tio #s m#y be pertinent to the iss"er #nd the iss"e or re>"ired by the Commission sh#.. #.so be f"rnished:

@4 A.. the r#tios sh#.. be exp.#ined #nd comp#red with the ind"stry;sector#9er#%e r#tios of the s#me periods #.on% with so"rces of the inform#tion4

I. Li+,idi& R &io*#

)i, C"rrent /#tio)ii, H"ic /#tio

)iii, Times Interest $#rned /#tio)i9, Debt to $>"ity /#tio

II. O (% &i R &io*#

)i, Acco"nts /ecei9#b.e T"rno9er /#tio)ii, In9entory T"rno9er /#tio

)iii, Asset T"rno9er /#tio1I1. 7%o)i& i'i& R &io*#

)i, Bross "ity /#tio

)9i, $#rnin%s3 per3 !h#re /#tio )$-!,)9ii, $ ITDA


21/57


Annexure - E

Di* 'o*,%( %(+,i%(m( &* i &$( %(d-$(%%i %o* ( &,* / %o* ( &,*/i )o%m &io m(mo% d,m

!ee r".e 5J4A5 I *&%, &io *#

14 On.y re.e9#nt #nd "pd#ted inform#tion #nd st#tistics sh#.. bedisc.osed in the prospect"s;red3herrin% prospect"s;inform#tionmemor#nd"m4 !o"rces #nd b#sis of #.. st#tements or c.#ims m#desh#.. be disc.osed4 !"per.#ti9e #d6ecti9es sh#.. not be "sed for #ny

p#rty "n.ess they c#n be s"bst#nti#ted by proper so"rce ofinform#tion which is disc.osed4

24 !imp.e .#n%"#%e for e#sy "nderst#ndin% of the contents of the prospect"s;inform#tion memor#nd"m sho".d be "sed4 A.. technic#.terms "sed sho".d be c.#rified "sin% simp.e terms to ens"re better"nderst#ndin% by in9estors4

4 here9er it is mentioned in the prospect"s;inform#tionmemor#nd"m th#t det#i.s #re %i9en e.sewhere in the doc"ment& thes#me sh#.. be #de>"#te.y cross3referenced by indic#tin% the p#%e #nd

p#r#%r#ph n"mbers4

@4 The prospect"s;inform#tion memor#nd"m sho".d not m# e #nyst#tement th#t c#nnot be s"bst#nti#ted or m#y be mis.e#din%4

54 In #ddition to the inform#tion specific#..y re>"ired by these /".es&the prospect"s sh#.. cont#in #.. m#teri#. inform#tion necess#ry toen#b.e in9estors to m# e #n informed #ssessment of the b"siness

en%#%ed in or to be en%#%ed in by the iss"er& its #ssets #nd .i#bi.ities&its fin#nci#. position& its profits #nd .osses #nd its f"t"re prospects#nd the ri%hts #tt#chin% to the sec"rities bein% offered #nd& in c#se ofmore th#n one pro6ect bein% inc."ded in the proposed p"b.ic offer&sep#r#te f".. disc.os"re for e#ch pro6ect4

(4 The Commission m#y re>"ire disc.os"re of #ddition#. inform#tion inthe prospect"s #s it considers #ppropri#te in # p#rtic".#r offer& #ndthe iss"er sh#.. comp.y it4

4B5 A i**,(% m :i , 'i i**,( o) *( ,%i&i(* *$ '' m :( &$()o''o;i di* 'o*,%(* i &$( %(d-$(%%i %o* ( &,*/ %o* ( &,*/i )o%m &io m(mo% d,m#

)1, %o & Co (% 7 (# On the front co9er p#%e of the prospect"s& thefo..owin% inform#tion #nd st#tements sh#.. be %i9en& n#me.y 3


22/57


)#, The fo..owin% st#tements in bo.d type on f#ce in red co.or3

66c7 8 wRevRv‡i wewb‡/vM 98 7 wKc3:© ; †R‡b 2 e7 ‡9 wewb‡/vM Ki3 b<

I (*&m( & i i& ' m %:(& i o' (* (%& i d( %(( o)

%i*:*. T$( i (*&o%* %( %(+,i%(d &o %( d &$( %o* ( &,*d %i*: ) &o%* %(),'' > **(** &$(i% o; )i i '

o di&io * d %i*: & :i i'i& ()o%( m :i &$(i%

i (*&m( & d( i*io *.F

)b, Amo"nt #nd type of sec"rities bein% offered:

)c, Iss"e d#te of the prospect"s:

)d, Offer price of the sec"rities on # per "nit #nd #%%re%#te b#sis;tot#. si=e of f"nd to be r#ised& #s the c#se m#y be:

)e, Openin% #nd c.osin% d#te of s"bscription:

)f, The type of red3herrin% prospect"s;prospect"s;inform#tionmemor#nd"m4

)%, N#mes of the iss"er #nd the iss"e m#n#%er:

)h, Credit r#tin% st#t"s #nd n#me of the credit r#tin%comp#ny)s,& where #pp.ic#b.e4

)2, S, *(+,( & (*# The inside p#%es of the prospect"s sh#..

cont#in the fo..owin% inform#tion;disc.os"res)#, 7%('imi % I )o%m &io d d( ' % &io *#

)i, N#me)s,& #ddress)s,& te.ephone n"mber)s,& web #ddress)s,&e3m#i.)s,& f#x n"mber)s, #nd cont#ct persons of the iss"er&iss"e m#n#%er)s,& "nderwriter)s,& #"ditors& credit r#tin%comp#ny #nd 9#."er& where #pp.ic#b.e:

)ii, A dec.#r#tion th#t # person interested to %et # prospect"sm#y obt#in from the iss"er& #nd the iss"e m#n#%er)s,:

)iii, The fo..owin% st#tement 7If yo" h#9e #ny >"ery #bo"t thisdoc"ment& yo" m#y cons".t the iss"er& iss"e m#n#%er #nd"nderwriter :


23/57


)i9, The fo..owin% st#tement in bo.d type in # box form#t CONSENT O THE BANGLADESH SECURITIES

AND EXCHANGE COMMISSION HAS BEENOBTAINED TO THE ISSUE/O ER O THESESECURITIES UNDER THE SECURITIES ANDEXCHANGE ORDINANCE> 19!9> AND THEBANGLADESH SECURITIES AND EXCHANGECOMMISSION 47UBLIC ISSUE5 RULES> 201". ITMUST BE DISTINCTL UNDERSTOOD THAT INGI ING THIS CONSENT THE COMMISSIONDOES NOT TA E AN RES7ONSIBILIT ORTHE INANCIAL SOUNDNESS O THE ISSUERCOM7AN > AN O ITS 7RO ECTS OR THEISSUE 7RICE O ITS SECURITIES OR OR THECORRECTNESS O AN O THE STATEMENTS

MADE OR O7INION EX7RESSED ITH REGARDTO THEM. SUCH RES7ONSIBILIT LIES ITHTHE ISSUER> ITS DIRECTORS> CHIEEXECUTI E O ICER> MANAGING DIRECTOR>CHIE INANCIAL O ICER> COM7ANSECRETAR > ISSUE MANAGER> ISSUEMANAGER S CHIE EXECUTI E O ICER>UNDER RITERS> AUDITOR4S5> ALUER AND/ORCREDIT RATING COM7AN 4I AN 5.J

)9, The fo..owin% c.#"se on /is s in re.#tion to the First

Iss"e? )where #pp.ic#b.e, sh#.. be incorpor#ted in # boxform#t in bo.d type in c#se of #n initi#. p"b.ic offer

JT$i* (i &$( )i%*& i**,( o) &$( i**,(%> &$(%( $ * ((o )o%m ' m %:(& )o% &$( *( ,%i&i(* o) &$( i**,(%. T$(

) ( ',( o) &$( *( ,%i&i(* i* T:. 10.00 4&( 5 d &$(i**,( %i ( i* T:KK.> i.(. X-&im(* o) &$( ) ( ',(.T$( i**,( %i ( $ * (( d(&(%mi (d d ?,*&i)i(d &$( i**,(% d &$( i**,( m (%/ iddi &$( ('i i '(i (*&o%* * *& &(d , d(% &$( % % $ o

,*&i)i &io o) I**,( 7%i (F *$o,'d o& ( & :( &o (i di &i ( o) &$( m %:(& %i ( o) &$( *( ,%i&i(* )&(%

'i*&i . No **,% ( ( i ( %( %di &i (o% *,*& i (d &% di o) &$( *( ,%i&i(* o% &$( %i ( )&(%'i*&i .J


24/57

113 $ evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)9i, The fo..owin% c.#"se on Bener#. /is K sh#.. beincorpor#ted in # box form#t in bo.d type JI (*&m( & i*( ,%i&i(* i o' (* d( %(( o) %i*: d i (*&o%* *$o,'d

o& i (*& ), d* i &$i* o))(% , '(** &$( ))o%d&o & :( &$( %i*: o) 'o*i &$(i% i (*&m( &. I (*&o%* %(

d i*(d &o %( d &$( %i*: ) &o%* %(),'' ()o%( & :i i (*&m( & d( i*io i &$i* o))(%. o% & :i

i (*&m( & d( i*io > i (*&o%* m,*& %(' o &$(i% o;(= mi &io o) &$( i**,(% d &$( o))(% i ',di &$(%i*:* i o' (d. T$( *( ,%i&i(* $ ( o& ((%( omm( d(d &$( B ' d(*$ S( ,%i&i(* dE= $ ( Commi**io 4BSEC5 o% do(* BSEC

, % &(( &$( ,% o% d(+, o) &$i* do ,m( &.S ( i)i &&( &io o) i (*&o%* i* i i&(d &o &$( *& &(m( &o) %i*: ) &o%* i ( o ( ,m (%4*5 K.. J

)9ii, The fo..owin% c.#"se on Iss"er?s Abso."te /esponsibi.ity?c.#"se sh#.. be incorpor#ted in # box form#t in bo.d type

JT$( i**,(%> $ i m d( '' %( *o '( i +,i%i(*>( &* %(* o *i i'i& )o% d o )i%m* &$ & &$i* %(d-

$(%%i %o* ( &,*/ %o* ( &,*/i )o%m &io m(mo% d,mo & i * '' m &(%i ' i )o%m &io ;i&$ %( %d &o &$(

i**,(% d &$( i**,(> &$ & &$( i )o%m &io o & i (di &$( %(d-$(%%i %o* ( &,*/ %o* ( &,*/i )o%m &iom(mo% d,m %( &%,(> ) i% d o%%( & i '' m &(%i '

* ( &* d %( o& mi*'( di i %(* ( &> &$ & &$(o i io * d i &( &io * (= %(**(d $(%(i %( $o (*&'

$('d d &$ & &$(%( %( o o&$(% ) &*> &$( omi**io o);$i $ m :( &$i* do ,m( & * ;$o'( o% o) *, $i )o%m &io o% &$( (= %(**io o) *, $ o i io * o%i &( &io * mi*'( di i m &(%i ' %(* ( &.J

)b, A i' i'i& o) 7%o* ( &,*#

)i, N#mes& #ddresses& te.ephone n"mbers& f#x n"mbers& website#ddresses #nd e3m#i. #ddresses #nd n#mes of cont#ct personsof the instit"tions where the prospect"s #nd #brid%ed 9ersionof prospect"s #re #9#i.#b.e in h#rd #nd soft forms:

)ii, N#mes #nd d#tes of the newsp#pers where #brid%ed 9ersion

of prospect"s w#s p"b.ished4)iii, Definitions #nd Acronyms;$.#bor#tions


25/57

evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15 113 1

)c, T '( o) Co &( &*# the t#b.e of contents sh#.. inter3#.i# inc."decomponents "nder the fo..owin% bro#d3he#ds chrono.o%ic#..y)i, $xec"ti9e !"mm#ry

)ii, Conditions imposed by the Commission

)iii, Dec.#r#tion #nd d"e di.i%ence certific#tes)i9, Abo"t the iss"er)9, Corpor#te directory of the Iss"er

)9i, Description of the Iss"er)9ii,


26/57

113 evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)e, Co di&io * im o*(d &$( Commi**io i &$( o *( & '(&&(%#

)f, D( ' % &io d d,( di'i ( ( (%&i)i &(* * (% A (=,%(- A> Bd C#

) , A o,& &$( i**,(%# )#, N#me of the iss"er& d#tes of incorpor#tion #nd commencement of

its commerci#. oper#tions& its .o%o& #ddresses of its re%isteredoffice& other offices #nd p.#nts& te.ephone n"mber& f#x n"mber&cont#ct person& website #ddress #nd e3m#i. #ddress:

)b, The n#mes of the sponsors #nd directors of the iss"er:

)c, The n#me& .o%o #nd #ddress of the #"ditors #nd re%istr#r to theiss"e& #.on% with their te.ephone n"mbers& f#x n"mbers& cont#ct

persons& website #nd e3m#i. #ddresses:

)d, The n#me)s, of the stoc exch#n%es where the specified sec"rities#re proposed to be .isted4

)@, Co% o% &( di%( &o% o) &$( I**,(%#

)5, D(* %i &io o) &$( I**,(%#

)#, S,mm % #

)i, The s"mm#ry of the ind"stry #nd b"siness en9ironment ofthe iss"er4 The s"mm#ry sh#.. not be one3sided or bi#sed tohi%h.i%ht the iss"er or the iss"e:

)ii, !"mm#ry of conso.id#ted fin#nci#.& oper#tin% #nd otherinform#tion4

)b, G( (% ' I )o%m &io #

)i, N#me #nd #ddress& te.ephone #nd f#x n"mbers of there%istered office& corpor#te he#d office& other offices&f#ctory& b"siness premises #nd o"t.ets of the iss"er:

)ii, The bo#rd of directors of the iss"er:

)iii, N#mes& #ddresses& te.ephone n"mbers& f#x n"mbers #nde3m#i. #ddresses of the ch#irm#n& m#n#%in% director& who.etime directors& etc4 of the iss"er:

)i9, N#mes& #ddresses& te.ephone n"mbers& f#x n"mbers #nde3m#i. #ddresses of the CFO& comp#ny secret#ry& .e%#.#d9isor& #"ditors #nd comp.i#nce officer:


27/57


)9, N#mes& #ddresses& te.ephone n"mbers& f#x n"mbers& cont#ct person& website #ddresses #nd e3m#i. #ddresses of the iss"em#n#%er)s,& re%istr#r to the iss"e etc:

)9i, The fo..owin% det#i.s of credit r#tin%& where #pp.ic#b.e#, The n#mes of #.. the credit r#tin% #%encies from

which credit r#tin% h#s been obt#ined: b, The det#i.s of #.. the credit r#tin%s obt#ined for the

iss"e #nd the iss"er:c, The r#tion#.e or description of the r#tin%s )s, so

obt#ined& #s f"rnished by the credit r#tin% #%ency)s,:d, Obser9#tions #nd ris f#ctors #s st#ted in the credit

r#tin% report4)9ii, Fo..owin% det#i.s of "nderwritin%

#, The n#mes& #ddresses& te.ephone n"mbers& f#x

n"mbers& cont#ct persons #nd e3m#i. #ddresses of the"nderwriters #nd the #mo"nt "nderwritten by them: b, Dec.#r#tion by the "nderwriters th#t they h#9e

s"fficient reso"rces #s per the re%".#tory re>"irementsto disch#r%e their respecti9e ob.i%#tions:

c,


28/57

113 ! evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)9i, here sh#res h#9e been #..otted in terms of #ny mer%er&#m#.%#m#tion or #c>"isition scheme& det#i.s of s"ch scheme#nd sh#res #..otted:

)9ii, here the iss"er h#s iss"ed e>"ity sh#res "nder one or moreemp.oyee stoc option schemes& d#te3wise det#i.s of e>"itysh#res iss"ed "nder the schemes& inc."din% the price #twhich s"ch e>"ity sh#res were iss"ed:

)9iii, If the iss"er h#s m#de #ny iss"e of specified sec"rities #t # price .ower th#n the iss"e price d"rin% the precedin% twoye#rs& specific det#i.s of the n#mes of the persons to whoms"ch specified sec"rities h#9e been iss"ed& re.#tion with theiss"er& re#sons for s"ch iss"e #nd the price thereof:

)ix, The decision or intention& ne%oti#tion #nd consider#tion ofthe iss"er to #.ter the c#pit#. str"ct"re by w#y of iss"e ofspecified sec"rities in #ny m#nner within # period of oneye#r from the d#te of .istin% of the present iss"e:

)x, The tot#. sh#reho.din% of the sponsors #nd directors in #t#b".#r form& c.e#r.y st#tin% the n#mes& n#t"re of iss"e& d#teof #..otment& n"mber of sh#res& f#ce 9#."e& iss"e price&consider#tion& d#te when the sh#res were m#de f"..y p#id "p&

percent#%e of the tot#. pre #nd post iss"e c#pit#.& the .oc in period #nd the n"mber #nd percent#%e of p.ed%ed sh#res& if#ny& he.d by e#ch of them:

)xi, The det#i.s of the #%%re%#te sh#reho.din% of the sponsors #nddirectors& the #%%re%#te n"mber of specified sec"rities

p"rch#sed or so.d or otherwise tr#nsferred by the sponsor

#nd;or by the directors of the iss"er #nd their re.#ted p#rtieswithin six months immedi#te precedin% the d#te of fi.in% thered3herrin% prospect"s;prospect"s;inform#tion memor#nd"m:

)xii, The n#me #nd #ddress of #ny person who owns& benefici#..yor of record& 5 or more of the sec"rities of the iss"er&indic#tin% the #mo"nt of sec"rities owned& whether they #reowned benefici#..y or of record& #nd the percent#%e of thesec"rities represented by s"ch ownership inc."din% n"mberof e>"ity sh#res which they wo".d be entit.ed to "ponexercise of w#rr#nt& option or ri%ht to con9ert #nycon9ertib.e instr"ment:

)xiii, The n"mber of sec"rities of the iss"er owned by e#ch of thetop ten s#.#ried officers& #nd #.. other officers or emp.oyees#s %ro"p& indic#tin% the percent#%e of o"tst#ndin% sh#resrepresented by the sec"rities owned4


29/57


)d, D(* %i &io o) B,*i (**#

)i, The d#te on which the iss"er comp#ny w#s incorpor#ted #ndthe d#te on which it commenced oper#tions #nd the n#t"re ofthe b"siness which the comp#ny #nd its s"bsidi#ries #reen%#%ed in or propose to en%#%e in:

)ii, Loc#tion of the pro6ect:

)iii, -.#nt& m#chinery& techno.o%y& process& etc4

)i9, Det#i.s of the m#6or e9ents in the history of the iss"er&inc."din% det#i.s of c#p#city;f#ci.ity cre#tion& .#"nchin% of

p.#nt& prod"cts& m#r etin%& ch#n%e in ownership #nd;or eym#n#%ement personne. etc:

)9, -rincip#. prod"cts or ser9ices of the iss"er #nd m#r ets fors"ch prod"cts or ser9ices4 -#st trends #nd f"t"re prospectsre%#rdin% exports )if #pp.ic#b.e, #nd .oc#. m#r et& dem#nd#nd s"pp.y forec#sts for the sector in which the prod"ct isinc."ded with so"rce of d#t#:

)9i, If the iss"er h#s more th#n one prod"ct or ser9ice& there.#ti9e contrib"tion to s#.es #nd income of e#ch prod"ct orser9ice th#t #cco"nts for more th#n 10 of the comp#ny?stot#. re9en"es:

)9ii, Description of #ssoci#tes& s"bsidi#ry #nd ho.din% comp#nyof the iss"er #nd core #re#s of b"siness thereof:

)9iii, Mow the prod"cts or ser9ices #re distrib"ted with det#i.s ofthe distrib"tion ch#nne.4 $xport possibi.ities #nd export

ob.i%#tions& if #ny:)ix, Competiti9e conditions in b"siness with n#mes& percent#%e

#nd 9o."me of m#r et sh#res of m#6or competitors:

)x, !o"rces #nd #9#i.#bi.ity of r#w m#teri#.s& n#mes #nd#ddresses of the princip#. s"pp.iers #nd contin%ency p.#n inc#se of #ny disr"ption:

)xi, !o"rces of& #nd re>"irement for& power& %#s #nd w#ter: or#ny other "ti.ities #nd contin%ency p.#n in c#se of #nydisr"ption:

)xii, N#mes& #ddress)s,& te.ephone n"mber& web #ddress& e3m#i.

#nd f#x n"mber of the c"stomers who #cco"nt for 10 ormore of the comp#ny?s prod"cts ;ser9ices with #mo"nt #nd

percent#%e thereof:


30/57


)xiii, N#mes& #ddress)s,& te.ephone n"mber& web #ddress& e3m#i.#nd f#x n"mber of the s"pp.iers from whom the iss"er

p"rch#ses 10 or more of its r#w m#teri#.; finished %oodswith #mo"nt #nd percent#%e thereof:

)xi9, Description of #ny contr#ct which the iss"er h#s with its princip#. s"pp.iers or c"stomers showin% the tot#. #mo"nt#nd >"#ntity of tr#ns#ction for which the contr#ct is m#de#nd the d"r#tion of the contr#ct4 If there is not #ny of s"chcontr#ct& # dec.#r#tion is to be disc.osed d".y si%ned byC$O;


31/57


)i9, The n#mes of the persons from whom the .#nds h#s been#c>"ired; proposed to be #c>"ired #.on% with the cost of#c>"isition #nd re.#tion& if #ny& of s"ch persons to the iss"eror #ny sponsor or director thereof:

)9, Det#i.s of whether the iss"er h#s recei9ed #.. the #ppro9#.s pert#inin% to "se of the .#nd& if re>"ired:

)9i, If the property is owned by the iss"er& whether there is #mort%#%e or other type of ch#r%e on the property& with n#meof the mort%#%ee:

)9ii, If the property is t# en on .e#se& the expir#tion d#tes of the.e#se with n#me of the .essor& princip#. terms #nd conditionsof the .e#se #%reements #nd det#i.s of p#yment:

)9iii, D#tes of p"rch#se of p.#nt #nd m#chineries #.on% withse..ers n#me& #ddress& ye#rs of s#.e& condition when

p"rch#sed& co"ntry of ori%in& "sef". economic .ife #t p"rch#se #nd rem#inin% economic .ife& p"rch#se price #ndwritten down 9#."e:

)ix, Det#i.s of the m#chineries re>"ired to be bo"%ht by theiss"er& cost of the m#chineries& n#me of the s"pp.iers& d#te of

p.#cement of order #nd the d#te or expected d#te of s"pp.y&etc4

)x, In c#se the m#chineries #re yet to be de.i9ered& the d#te of>"ot#tions re.ied "pon for the cost estim#tes %i9en sh#.. #.so

be mentioned:

)xi, If p.#nt is p"rch#sed in br#nd new condition then it sho".d bementioned:

)xii, Det#i.s of the second h#nd or reconditioned m#chineries bo"%ht or proposed to be bo"%ht& if #ny& inc."din% the #%e ofthe m#chineries& b#.#nce estim#ted "sef". .ife& etc4 #s per -!Icertific#tes of the s#id m#chineries #s s"bmitted to theCommission:

)xiii, A physic#. 9erific#tion report by the iss"e m#n#%er)s,re%#rdin% the properties #s s"bmitted to the Commission:

)xi9, If the iss"er is entit.ed to #ny inte..ect"#. property ri%ht orint#n%ib.e #sset& f".. description of the property& whether thes#me #re .e%#..y he.d by the iss"er #nd whether #..form#.ities in this re%#rd h#9e been comp.ied with:

)x9, F".. description of other properties of the iss"er4


32/57

113 " evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)f, 7' o) O (% &io d Di* ,**io o) i i ' Co di&io #

)i, If the iss"er h#s not st#rted its commerci#. oper#tion& thecomp#ny?s p.#n of oper#tions for the period which wo".d bere>"ired to st#rt commerci#. oper#tion which sh#..& #mon%others& inc."de 3

#, -ro6ected fin#nci#. st#tements "p to the ye#r ofcommerci#. oper#tion:

b, /#tion#.e behind the pro6ection:c, Any expected si%nific#nt ch#n%es in the iss"er?s po.icy

or b"siness str#te%ies:

d, Det#i. p.#n of c#pit#. in9estment with bre# 3"p:e, !"mm#ry of fe#sibi.ity report& etc4

)ii, If the iss"er h#d been in oper#tion& the iss"er?s re9en"e #nd

res".ts from oper#tion& fin#nci#. position #nd ch#n%es infin#nci#. position #nd c#sh f.ows for the .#st fi9e ye#rs orfrom commerci#. oper#tion& which is shorter& sh#.. bef"rnished in t#b".#r form which sh#..& #mon% others& inc."dethe fo..owin% inform#tion

#, Intern#. #nd extern#. so"rces of c#sh:

b, Any m#teri#. commitments for c#pit#. expendit"re #ndexpected so"rces of f"nds for s"ch expendit"re:

c, C#"ses for #ny m#teri#. ch#n%es from period to period inre9en"es& cost of %oods so.d& other oper#tin% expenses#nd net income:

d, Any se#son#. #spects of the iss"er?s b"siness:e, Any nown trends& e9ents or "ncert#inties th#t m#y h#9e

m#teri#. effect on the iss"er?s f"t"re b"siness:

f, Any #ssets of the comp#ny "sed to p#y off #ny.i#bi.ities:

%, Any .o#n t# en from or %i9en to #ny re.#ted p#rty orconnected person of the iss"er with det#i.s of the s#me:

h, Any f"t"re contr#ct"#. .i#bi.ities the iss"er m#y enterinto within next one ye#r& #nd the imp#ct& if #ny& on thefin#nci#. f"nd#ment#.s of the iss"er:

i, The estim#ted #mo"nt& where #pp.ic#b.e& of f"t"rec#pit#. expendit"re:


33/57


6, Any +AT& income t#x& c"stoms d"ty or other t#x.i#bi.ity which is yet to be p#id& inc."din% #ny contin%ent.i#bi.ities st#tin% why the s#me w#s not p#id prior to theiss"#nce of the prospect"s4 Epd#ted income t#x st#t"s

for the .#st 5 ye#rs or from commerci#. oper#tion& whichis shorter:

, Any fin#nci#. commitment& inc."din% .e#se commitment&the comp#ny h#d entered into d"rin% the p#st fi9e ye#rsor from commerci#. oper#tion& which is shorter& %i9in%det#i.s #s to how the .i>"id#tion w#s or is to be effected:

., Det#i.s of #.. personne. re.#ted schemes for which thecomp#ny h#s to m# e pro9ision for in f"t"re ye#rs:

m, re# down of #.. expenses re.#ted to the p"b.ic iss"e:

n, If the iss"er h#s re9#."ed #ny of its #ssets& the n#me&

>"#.ific#tion #nd experiences of the 9#."er #nd there#son for the re9#."#tion& showin% the 9#."e of the#ssets prior to the re9#."#tion sep#r#te.y for e#ch #ssetre9#."ed in # m#nner which sh#.. f#ci.it#te comp#rison

between the historic#. 9#."e #nd the #mo"nt #fterre9#."#tion #nd %i9in% # s"mm#ry of the 9#."#tion report#.on% with b#sis of pricin% #nd certific#tes re>"ired"nder the re9#."#tion %"ide.ine of the Commission:

o, here the iss"er is # ho.din%;s"bsidi#ry comp#ny& f"..disc.os"re #bo"t the tr#ns#ctions& inc."din% its n#t"re#nd #mo"nt& between the iss"er #nd itss"bsidi#ry;ho.din% comp#ny& inc."din% tr#ns#ctionswhich h#d t# en p.#ce within the .#st fi9e ye#rs of theiss"#nce of the prospect"s or since the d#te ofincorpor#tion of the iss"er& whiche9er is .#ter& c.e#r.yindic#tin% whether the iss"er is # debtor or # creditor:

p, Fin#nci#. Inform#tion of Bro"p Comp#nies fo..owin%inform#tion for the .#st three ye#rs b#sed on the #"ditedfin#nci#. st#tements& in respect of #.. the %ro"pcomp#nies of the iss"er& where9er #pp.ic#b.e& #.on% withsi%nific#nt notes of #"ditors

1, D#te of Incorpor#tion:2, N#t"re of "siness:

, $>"ity C#pit#.:

@, /eser9es:


34/57

113 $ evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

5, !#.es:

(, -rofit #fter t#x:

, $#rnin%s per sh#re #nd Di."ted $#rnin%s -er !h#re:

8, Net Asset +#."e:

', The hi%hest #nd .owest m#r et price of sh#res d"rin%the precedin% six months with disc.os"res forch#n%es in c#pit#. str"ct"re d"rin% the period& if #nysec"rities of the %ro"p #re .isted with #ny exch#n%e:

10, Inform#tion re%#rdin% si%nific#nt #d9erse f#ctorsre.#tin% to the %ro"p:

11, Any of the %ro"p comp#nies h#s become sic or is"nder windin% "p:

12, The re.#ted b"siness tr#ns#ctions within the %ro"p#nd their si%nific#nce on the fin#nci#. perform#nceof the iss"er:

1 , !#.es or p"rch#se between %ro"p comp#nies;s"bsidi#ries; #ssoci#te comp#nies when s"ch s#.es or

p"rch#ses exceed in 9#."e in the #%%re%#te ten percent of the tot#. s#.es or p"rch#ses of the iss"er #nd#.so m#teri#. items of income or expendit"re #risin%o"t of s"ch tr#ns#ctions:

1@, here the iss"er is # b#n in% comp#ny& ins"r#ncecomp#ny& non3b#n in% fin#nci#. instit"tion or #nyother comp#ny which is re%".#ted #nd .icensed by#nother prim#ry re%".#tor& # dec.#r#tion by the bo#rdof directors sh#.. be inc."ded in the prospect"sst#tin% th#t #.. re>"irements of the re.e9#nt .#ws #ndre%".#tory re>"irements of its prim#ry re%".#tor h#9e

been #dhered to by the iss"er:

15, A report from the #"ditors re%#rdin% #ny #..otmentof sh#res to #ny person for #ny consider#tionotherwise th#n c#sh #.on% with re.#tionship of th#t

person with the iss"er #nd r#tion#.e of iss"e price ofthe sh#res:

1(, Any m#teri#. inform#tion& which is .i e.y to h#9e #n

imp#ct on the offerin% or ch#n%e the terms #ndconditions "nder which the offer h#s been m#de tothe p"b.ic:


35/57


1 , "siness str#te%ies #nd f"t"re p.#ns4 -ro6ectedst#tement of fin#nci#. position& compressi9est#tement of income #nd e#rnin%s per sh#re for thenext three #cco"ntin% ye#rs #s per the iss"ers own

#ssessment4>, Disc"ssion on the res".ts of oper#tions sh#.. inter3#.i#

cont#in the fo..owin%

1, A s"mm#ry of the p#st fin#nci#. res".ts #fter #d6"stments#s %i9en in the #"ditor?s report cont#inin% si%nific#ntitems of income #nd expendit"re:

2, A s"mm#ry of m#6or items of income #nd expendit"re:

, The income #nd s#.es on #cco"nt of m#6or prod"cts orser9ices:

@, In c#se& other income constit"tes more th#n 10 of thetot#. income& the bre# "p of the s#me #.on% with then#t"re of the income& i4e4& rec"rrin% or non3rec"rrin%:

5, If # m#teri#. p#rt of the income is dependent "pon #sin%.e c"stomer or # few m#6or c"stomers& disc.os"reof this f#ct #.on% with re.e9#nt d#t#4 !imi.#r.y if #nyforei%n c"stomer constit"tes # si%nific#nt portion ofthe iss"er?s b"siness& disc.os"re of the f#ct #.on% withits imp#ct on the b"siness considerin% exch#n%e r#tef."ct"#tions:

(, In c#se the iss"er h#s fo..owed #ny "northodox proced"re for recordin% s#.es #nd re9en"es& its imp#ct

sh#.. be #n#.y=ed #nd disc.osed4r, Comp#rison of recent fin#nci#. ye#r with the pre9io"s

fin#nci#. ye#rs on the m#6or he#ds of the profit #nd .ossst#tement& inc."din% #n #n#.ysis of re#sons for the ch#n%esin si%nific#nt items of income #nd expendit"re& inter3#.i#&cont#inin% the fo..owin%

1, En"s"#. or infre>"ent e9ents or tr#ns#ctionsinc."din% "n"s"#. trends on #cco"nt of b"siness#cti9ity& "n"s"#. items of income& ch#n%e of#cco"ntin% po.icies #nd discretion#ry red"ction ofexpenses etc4

2, !i%nific#nt economic ch#n%es th#t m#teri#..y #ffector #re .i e.y to #ffect income from contin"in%oper#tions:


36/57


, nown trends or "ncert#inties th#t h#9e h#d or #reexpected to h#9e # m#teri#. #d9erse imp#ct on s#.es&re9en"e or income from contin"in% oper#tions:

@, F"t"re ch#n%es in re.#tionship between costs #ndre9en"es& in c#se of e9ents s"ch #s f"t"re incre#se in.#bor or m#teri#. costs or prices th#t wi.. c#"se #m#teri#. ch#n%e #re nown:

5, The extent to which m#teri#. incre#ses in net s#.es orre9en"e #re d"e to incre#sed s#.es 9o."me&introd"ction of new prod"cts or ser9ices or incre#seds#.es prices:

(, Tot#. t"rno9er of e#ch m#6or ind"stry se%ment inwhich the iss"er oper#ted:

, !t#t"s of #ny p"b.ic.y #nno"nced new prod"cts or

b"siness se%ment:8, The extent to which the b"siness is se#son#.4

s, Def#".ts or resched".in% of borrowin%s with fin#nci#.instit"tions; b#n s& con9ersion of .o#ns into e>"ity #.on%with re#sons thereof& .oc o"t& stri es #nd re#sons for thes#me etc4

t, Det#i.s re%#rdin% the ch#n%es in the #cti9ities of the iss"erd"rin% the .#st fi9e ye#rs which m#y h#d # m#teri#. effecton the profits;.oss& inc."din% discontin"#nce of .ines of

b"siness& .oss of #%encies or m#r ets #nd simi.#r f#ctors:

", In6"nction or restr#inin% order& if #ny& with possib.eimp.ic#tions:

9, Techno.o%y& m#r et& m#n#%eri#. competence #nd c#p#city b"i.t3"p:

w, Ch#n%es in #cco"ntin% po.icies in the .#st three ye#rs:

x, !i%nific#nt de9e.opments s"bse>"ent to the .#st fin#nci#.ye#r A st#tement by the directors whether in their opinionthere h#9e #risen #ny circ"mst#nces since the d#te of the.#st fin#nci#. st#tements #s disc.osed in the red3herrin%

prospect"s;prospect"s;inform#tion memor#nd"m #ndwhich m#teri#..y #nd #d9erse.y #ffect or is .i e.y to #ffect

the tr#din% or profit#bi.ity of the iss"er& or the 9#."e of its#ssets& or its #bi.ity to p#y its .i#bi.ities within the nexttwe.9e months:


37/57


y, If #ny >"#rter of the fin#nci#. ye#r of the iss"er ends #fterthe period ended in the #"dited fin#nci#. st#tements #sdisc.osed in the prospect"s;inform#tion memor#nd"m&"n#"dited fin#nci#. st#tements for e#ch of the s#id >"#rters

d".y #"thentic#ted by the C$O #nd CFO of the iss"er:=, F#ctors th#t m#y #ffect the res".ts of oper#tions4

)(, M (m( & * di* ,**io d ' *i* o) )i i ' o di&io d%(*,'&* o) o (% &io *#

)#, O9er9iew of b"siness #nd str#te%ies:

)b, ! OT ANAL !I!:

)c, An#.ysis of the fin#nci#. st#tements of .#st fi9e ye#rs withre#son)s, of f."ct"#tin% re9en"e;s#.es& other income& tot#.income& cost of m#teri#.& fin#nce cost& depreci#tion #nd#morti=#tion expense& other expense: ch#n%es ofin9entories& net profit before P #fter t#x& $-! etc4

)d, nown trends dem#nds& commitments& e9ents or"ncert#inties th#t #re .i e.y to h#9e #n effect on thecomp#ny?s b"siness:

)e, Trends or expected f."ct"#tions in .i>"idity:

)f, Off3b#.#nce sheet #rr#n%ements those h#9e or .i e.y to h#9e# c"rrent or f"t"re effect on fin#nci#. condition4

) , Di%( &o%* d O))i (%*# fo..owin% inform#tion in respect ofdirectors #nd officers of the iss"er& n#me.y 3

)#, N#me& F#ther?s n#me& #%e& residenti#. #ddress& ed"c#tion#.>"#.ific#tion& experience #nd position of e#ch of the directorsof the comp#ny #nd #ny person nomin#ted;represented to be# director& showin% the period for which the nomin#tion h#s

been m#de #nd the n#me of the or%#ni=#tion which h#snomin#ted him:

)b, The d#te on which he first bec#me # director #nd the d#te onwhich his c"rrent term of office sh#.. expire:

)c, If #ny director h#s #ny type of interest in other b"sinesses&n#mes #nd types of b"siness of s"ch or%#ni=#tions4 If #ny

director is #.so # director of #nother comp#ny or owner or p#rtner of #ny other concern& the n#mes of s"chor%#ni=#tions:


38/57

113 ! evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)d, !t#tement of if #ny of the directors of the iss"er #re#ssoci#ted with the sec"rities m#r et in #ny m#nner4 If #nydirector of the Iss"er comp#ny is #.so # director of #ny iss"erof other .isted sec"rities d"rin% .#st three ye#rs then di9idend

p#yment history #nd m#r et perform#nce of th#t iss"er:)e, Any f#mi.y re.#tionship )f#ther& mother& spo"se& brother&

sister& son& d#"%hter& spo"se?s f#ther& spo"se?s mother&spo"se?s brother& spo"se?s sister, #mon% the directors #ndtop fi9e officers:

)f, A 9ery brief description of other b"sinesses of the directors:

)%, !hort bio3d#t# of e#ch director:)h, Lo#n st#t"s of the iss"er& its directors #nd sh#reho.ders who

ho.d 5 or more sh#res in the p#id3"p c#pit#. of the iss"er interms of the CI /eport of #n%.#desh #n :

(i) N#me with position& ed"c#tion#. >"#.ific#tion& #%e& d#te of 6oinin% in the comp#ny& o9er#.. experience )in ye#r,& pre9io"s emp.oyment& s#.#ry p#id for the fin#nci#. ye#r ofthe Chief $xec"ti9e Officer& "isition& terms of#c>"isition& consider#tion p#id for s"ch #c>"isition etc4


39/57


)m, If the sponsors;directors do not h#9e experience in the proposed .ine of b"siness& the f#ct exp.#inin% how the proposed #cti9ities wo".d be c#rried o"t;m#n#%ed:

)n, Interest of the ey m#n#%ement persons:

)o, A.. interests #nd f#ci.ities en6oyed by # director& whether pec"ni#ry or non3pec"ni#ry:

)p, N"mber of sh#res he.d #nd percent#%e of sh#re ho.din% )preiss"e,:

)>, Ch#n%e in bo#rd of directors d"rin% .#st three ye#rs:

)r, Director?s en%#%ement with simi.#r b"siness4

)8, C(%& i R(' &io *$i * d R(' &(d T% * &io *#

)#, The prospect"s sh#.. cont#in # description of #ny tr#ns#ctiond"rin% the .#st fi9e ye#rs& or #ny proposed tr#ns#ctions certified

by the #"ditors& between the iss"er #nd #ny of the fo..owin% persons& %i9in% the n#me of the persons in9o.9ed in thetr#ns#ction& their re.#tionship with the iss"er& the n#t"re of theirinterest in the tr#ns#ction #nd the #mo"nt of s"ch interest&n#me.y 3

)i, Any director or sponsor or exec"ti9e officer of the iss"er:

)ii, Any person ho.din% 5 or more of the o"tst#ndin% sh#resof the iss"er:

)iii, Any re.#ted p#rty or connected person of #ny of the #bo9e persons:

)b, Any tr#ns#ction or #rr#n%ement entered into by the iss"er or itss"bsidi#ry or #ssoci#te or entity owned or si%nific#nt.yinf."enced by # person who is c"rrent.y # director or in #ny w#yconnected with # director of either the iss"er comp#ny or #ny ofits s"bsidi#ries;ho.din% comp#ny or #ssoci#te concerns& or whow#s # director or connected in #ny w#y with # director #t #nytime d"rin% the .#st three ye#rs prior to the iss"#nce of the

prospect"s:

)c, Any .o#ns either t# en or %i9en from or to #ny director or #ny person connected with the director& c.e#r.y specifyin% det#i.s ofs"ch .o#n in the prospect"s& #nd if #ny .o#n h#s been t# en from#ny s"ch person who did not h#9e #ny st# e in the iss"er& its

ho.din% comp#ny or its #ssoci#te concerns prior to s"ch .o#n&r#te of interest #pp.ic#b.e& d#te of .o#n t# en& d#te of m#t"rity of.o#n& #nd present o"tst#ndin% of s"ch .o#n4


40/57


)', E=( ,&i ( Com ( * &io #

)#, The tot#. #mo"nt of rem"ner#tion;s#.#ry;per>"isites p#id to thetop fi9e s#.#ried officers of the iss"er in the .#st #cco"ntin% ye#r#nd the n#me #nd desi%n#tion of e#ch s"ch officer:

)b, A%%re%#te #mo"nt of rem"ner#tion p#id to #.. directors #ndofficers #s # %ro"p d"rin% the .#st #cco"ntin% ye#r:

)c, If #ny sh#reho.der director recei9ed #ny month.ys#.#ry;per>"isite;benefit it m"st be mentioned #.on% with d#te of#ppro9#. in AB


41/57


)ii, The r#n%e of exercise prices:)iii, The r#n%e of expir#tion d#tes:)i9, Q"stific#tion #nd consider#tion of %r#ntin% s"ch option4

)11, T% * &io ;i&$ &$( Di%( &o%* d S, * %i (%* &o &$(M(mo% d,m#)#, The n#mes of the directors #nd s"bscribers to the memor#nd"m&

the n#t"re #nd #mo"nt of #nythin% of 9#."e recei9ed or to berecei9ed by the iss"er from the #bo9e persons& or by the s#id

persons& direct.y or indirect.y& from the iss"er d"rin% the .#st fi9eye#rs #.on% with the description of #ssets& ser9ices or otherconsider#tion recei9ed or to be recei9ed:

)b, If #ny #ssets were #c>"ired or to be #c>"ired from the #fores#id persons& the #mo"nt p#id for s"ch #ssets #nd the method "sed todetermine the price sh#.. be mentioned in the prospect"s& #nd ifthe #ssets were #c>"ired by the s#id persons within fi9e ye#rs

prior to tr#nsfer those to the iss"er& the #c>"isition cost thereof

p#id by them4 )12, O; (%*$i o) &$( Com * S( ,%i&i(*#

)#, The n#mes& #ddresses& O ID N"mber of #.. sh#reho.ders of thecomp#ny before I-O& indic#tin% the #mo"nt of sec"rities owned#nd the percent#%e of the sec"rities represented by s"chownership& in t#b".#r form:

)b, There sh#.. #.so be # t#b.e showin% the n#me #nd #ddress& #%e&experience& O ID N"mber& TIN n"mber& n"mbers of sh#reshe.d inc."din% percent#%e& position he.d in other comp#nies of#.. the directors before the p"b.ic iss"e:

)c, The #9er#%e cost of #c>"isition of e>"ity sh#res by the directors

certified by the #"ditors:)d, A det#i. description of c#pit#. b"i.t "p in respect of sh#reho.din%

)n#me3wise, of the iss"er?s sponsors; directors4 In thisconnection& # st#tement to be inc."ded 3

D#te ofA..otment;Tr#nsfer off"..y p#id3"p sh#res

Consid3er#tion

N#t"reof iss"e

No of$>"itysh#res

F#ce9#."e

Iss"e-rice;Ac>"isit3ion -rice;Tr#nsfer-rices

C"m".#3ti9e no4of$>"itysh#res

-re3iss"e

p#id "pc#pit#.

-ostiss"e

p#id "pc#pit#.

!o"rcesof f"nd

)e, Det#i. of sh#res iss"ed by the comp#ny #t # price .ower th#n the

iss"e price:)f, Mistory of si%nific#nt )5 or more, ch#n%es in ownership of

sec"rities from inception4


42/57

113 " evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)1 , Co% o% &( Go (% (#

)#, A disc.os"re to the effect th#t the iss"er h#s comp.ied with there>"irements of Corpor#te Bo9ern#nce B"ide.ines of theCommission:

)b, A comp.i#nce report of Corpor#te Bo9ern#nce re>"irementscertified by competent #"thority:

)c, Det#i.s re.#tin% to the iss"erKs #"dit committee #nd rem"ner#tioncommittee& inc."din% the n#mes of committee members #nd #s"mm#ry of the terms of reference "nder which the committeesoper#te4

)1@, ', &io R( o%& o) *( ,%i&i(* %( %(d &$( I**,( M (%#

)#, The 9#."#tion report of sec"rities to be offered sh#.. be prep#red#nd 6"stified by the iss"e m#n#%er on the b#sis of the fin#nci#.#nd #.. other inform#tion pertinent to the iss"e:

)b, To prep#re the 9#."#tion report& the iss"e m#n#%er m#y consider#.. >"#.it#ti9e #nd >"#ntit#ti9e f#ctors which sh#.. be exp.#inedin det#i.s with r#tion#.e to consider s"ch f#ctors& the 9#."#tionmethods "sed& so"rces of inform#tion #nd #"thenticity of s"chinform#tion:

)c, hi.e prep#rin% the 9#."#tion report& the iss"e m#n#%er sh#..#9oid ex#%%er#tion #nd bi#sness #nd sh#.. exercise independence#nd d"e di.i%ence:

)d, The iss"e m#n#%er)s, sh#..& #mon% others& consider the fo..owin%methods for 9#."#tion of the sec"rities

)i, net #sset 9#."e #t historic#. or c"rrent costs:

)ii, e#rnin%3b#sed39#."e c#.c".#ted on the b#sis of wei%hted#9er#%e of net profit #fter t#x for immedi#te precedin% fi9eye#rs or s"ch shorter period d"rin% which the iss"er w#s incommerci#. oper#tion:

)iii, pro6ected e#rnin%s for the next three #cco"ntin% ye#r withr#tion#.es of the pro6ection& if not in commerci#. oper#tion:

)i9, #9er#%e m#r et price per sh#re of simi.#r stoc s for the .#stone ye#r immedi#te.y prior to the offer for common stoc s

with reference #nd exp.#n#tion of the simi.#rities or in c#seof repe#t p"b.ic offerin%& m#r et price per sh#re of commonstoc of the iss"er for the #fores#id period4


43/57


)15, D( & S( ,%i&i(*#

)#, the terms #nd conditions of #ny debt sec"rities th#t the iss"ercomp#ny m#y h#9e iss"ed or is p.#nnin% to iss"e within next sixmonths& inc."din% their d#te of redemption or con9ersion&con9ersion or redemption fe#t"res #nd sin in% f"ndre>"irements& r#te of interest p#y#b.e& ie.d to * 'i '(#)#, Iss"e m#n#%er)s,:

)b, Enderwriters:

)c, A"ditors:

)d, Cost #nd


44/57

113"$ evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)iii, Liti%#tion in9o.9in% !ec"rities& Fin#nce #nd $conomicL#ws:

)i9, Liti%#tion in9o.9in% L#bor L#ws:

)9, Liti%#tion in9o.9in% T#x#tion )Income t#x& +AT&C"stoms D"ty #nd #ny other t#xes;d"ties,:

)9i, Liti%#tion in9o.9in% #ny other L#ws4

)b, O"tst#ndin% c#ses fi.ed by the Comp#ny or #ny of its directors

)i, Liti%#tion in9o.9in% Ci9i. L#ws:

)ii, Liti%#tion in9o.9in% Crimin#. L#ws:

)iii, Liti%#tion in9o.9in% !ec"rities& Fin#nce #nd $conomicL#ws:

)i9, Liti%#tion in9o.9in% L#bor L#ws:

)9, Liti%#tion in9o.9in% T#x#tion )Income t#x& +AT&C"stoms D"ty #nd #ny other t#xes;d"ties,:

)9i, Liti%#tion in9o.9in% #ny other L#ws4

)1', Ri*: &o%* d M (m( & * 7(% ( &io * o,& &$( Ri*:*#

)#, A.. ris f#ctors #nd m#n#%ement?s perception #bo"t how to#ddress the ris s #re to be c.e#r.y st#ted4 A.. ris f#ctors which#re specific to the pro6ect #nd intern#. to the iss"er #nd thosewhich #re extern#. #nd beyond the contro. of the iss"er #nd #..>"#.it#ti9e or >"#ntit#ti9e ris s those m#y not be m#teri#. #t

present b"t m#y h#9e # m#teri#. imp#ct in f"t"re sh#.. beinc."ded:

)b, /is f#ctors sh#.. be disc.osed in descendin% order of m#teri#.ity4here9er ris s #bo"t m#teri#. imp#ct #re st#ted& the fin#nci#.

#nd other imp.ic#tions of the s#me sh#.. be disc.osed4 If it c#nnot be >"#ntified& # st#tement sh#.. be f"rnished #bo"t the f#ct th#tthe imp.ic#tions c#nnot be >"#ntified:

)c, -erceptions to #ddress ris s sh#.. not cont#in #ny spec".#ti9est#tement on the positi9e o"tcome of #ny .iti%#tion& etc4 #nd sh#..not be %i9en for #ny m#tter th#t is s"b36"dice before #ny Co"rt ;Trib"n#.:

)d, The disc.os"res of /is f#ctors sh#.. inc."de& where #pp.ic#b.e&the fo..owin%

)i, Intern#. ris f#ctors:

)ii, $xtern#. ris f#ctors4


45/57

evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15 113"1

)i, Intern#. ris f#ctors m#y inc."de& #mon% others

#, Credit /is :

b, Li>"idity /is :

c, /is #ssoci#ted with the iss"er?s interest in s"bsidi#ries& 6oint 9ent"res #nd #ssoci#tes:

d, !i%nific#nt re9en"e %ener#ted from .imited n"mber ofc"stomers& .osin% #ny one or more of which wo".d h#9e #m#teri#. #d9erse effect on the iss"er:

e, Dependency on # sin%.e or few s"pp.iers of r#w m#teri#.s&f#i."re of which m#y #ffect prod"ction #d9erse.y:

f,


46/57


p, "siness oper#tions m#y be #d9erse.y #ffected by stri es&wor stopp#%es or incre#se in w#%e dem#nds byemp.oyees:

>, !e#son#.ity of the b"siness of the iss"er:

r, $xpiry of #ny re9en"e %ener#tin% contr#ct th#t m#y#d9erse.y #ffect the b"siness:

s, $xcessi9e dependence on debt fin#ncin% which m#y#d9erse.y #ffect the c#sh f.ow:

t, $xcessi9e dependence on #ny ey m#n#%ement personne.#bsence of whom m#y h#9e #d9erse effect on the iss"er?s

b"siness perform#nce:

", $nforcement of contin%ent .i#bi.ities which m#y #d9erse.y

#ffect fin#nci#. condition:9, Ins"r#nce co9er#%e not #de>"#te.y protect #%#inst cert#in

ris s of d#m#%es:

w, Absence of #ss"r#nce th#t directors wi.. contin"e itsen%#%ement with Comp#ny #fter expiry of .oc in period:

x, Abi.ity to p#y #ny di9idends in f"t"re wi.. depend "ponf"t"re e#rnin%s& fin#nci#. condition& c#sh f.ows& wor in%c#pit#. re>"irements #nd c#pit#. expendit"re:

y, Mistory of non oper#tion& if #ny #nd short oper#tion#.history of the iss"er #nd .#c of #de>"#te b#c %ro"nd #ndexperience of the sponsors:

=, /is s re.#ted to en%#%ement in new type of b"siness& if#ny:

##, /is in in9estin% the sec"rities bein% offered withcomp#rison to other #9#i.#b.e in9estment options:

bb, Any pen#.ty or #ction t# en by #ny re%".#tory #"thoritiesfor non3comp.i#nce with pro9isions of #ny .#w:

cc, Liti%#tions #%#inst the iss"er for T#x #nd +AT re.#tedm#tters #nd other %o9ernment c.#ims& #.on% with thedisc.os"res of #mo"nt& period for which s"ch dem#nds orc.#ims #re o"tst#ndin%& fin#nci#. imp.ic#tions #nd thest#t"s of the c#se:

dd, /e%istered office or f#ctory b"i.din% or p.#ce of oper#tionis not owned by the iss"er:


47/57


ee, L#c of renew#. of existin% re%".#tory permissions;.icenses:

ff, F#i."re in ho.din% AB< or dec.#rin% di9idend or p#ymentof interest by #ny .isted sec"rities of the iss"er or #ny of itss"bsidi#ries or #ssoci#tes:

%%, Iss"#nces of sec"rities #t .ower th#n the I-O offer pricewithin one ye#r:

hh, /ef"s#. of #pp.ic#tion for p"b.ic iss"e of #ny sec"rities ofthe iss"er or #ny of its s"bsidi#ries or #ssoci#tes #t #nytime by the Commission4

)ii, $xtern#. ris f#ctors m#y inc."de #mon% others

#, Interest r#te ris s: b, $xch#n%e r#te ris s:

c, Ind"stry ris s:d, $conomic #nd po.itic#. ris s:e, "irements #ndfe#sibi.ity in respect of enh#nced p#id3"p c#pit#.4


48/57

113"! evsjv‡`k %&‡RU, Aw'wi , w ‡m*+ i 31, $15

)21, U*( o) 7%o ((d*# The "se of the iss"e proceeds sh#.. be disc.osed in the prospect"s in det#i.s

pro9ided th#t not more th#n 1; rd of the iss"e proceeds sh#.. be

"sed for rep#yment of .o#ns or #s wor in% c#pit#.4 The fo..owin%disc.os"res sh#.. be m#de in this re%#rd

)#, Ese of net proceeds of the offer indic#tin% the #mo"nt to be"sed for e#ch p"rpose with he#d3wise bre# 3"p:

)b, here the sponsors? contrib"tion or pri9#te.y p.#ced f"ndh#s been bro"%ht prior to the p"b.ic iss"e #nd h#s #.re#dy

been dep.oyed by the iss"er& indic#tion of "se of s"ch f"ndsin the c#sh f.ow st#tement:

)c, If one of the ob6ects is #n in9estment in # 6oint 9ent"re& #s"bsidi#ry& #n #ssoci#te or #ny #c>"isition& det#i.s of theform of in9estment& n#t"re of benefit expected to #ccr"e tothe iss"er #s # res".t of the in9estment& brief description of

b"siness #nd fin#nci#.s of s"ch 9ent"re:

)d, If I-O proceeds #re not s"fficient to comp.ete the pro6ect&then so"rce of #ddition#. f"nd m"st be mentioned4 In thisconnection& copies of contr#ct to meet the #ddition#. f"nds#re re>"ired to be s"bmitted to the Commission4 The me#ns#nd so"rce of fin#ncin%& inc."din% det#i.s of brid%e .o#n orother fin#nci#. #rr#n%ement& which m#y be rep#id from the

proceeds of the iss"e #.on% with "ti.i=#tion of s"ch f"nds:

)e, A sched".e mentionin% the st#%es of imp.ement#tion #nd

"ti.i=#tion of f"nds recei9ed thro"%h p"b.ic offer in # t#b".#rform& pro%ress m#de so f#r& %i9in% det#i.s of .#nd#c>"isition& ci9i. wor s& inst#..#tion of p.#nt #nd m#chinery&the #pproxim#te d#te of comp.etion of the pro6ect #nd the

pro6ected d#te of f".. commerci#. oper#tion etc4 Thesched".e sh#.. be si%ned by the Chief $xec"ti9e Officer or


49/57


)%, If one of the ob6ects of the iss"e is "ti.i=#tion of the iss"e proceeds for wor in% c#pit#.& b#sis of estim#tion of wor in%c#pit#. re>"irement #.on% with the re.e9#nt #ss"mptions&re#sons for r#isin% #ddition#. wor in% c#pit#. s"bst#nti#tin%

the s#me with re.e9#nt f#cts #nd fi%"res #nd #.so the re#sonsfor fin#ncin% short with .on% term in9estments #nd #n itemwise bre# 3"p of .#st three ye#rs wor in% c#pit#. #nd nexttwo ye#rs pro6ection:

)h, here the iss"er proposes to "ndert# e one or more#cti9ities .i e di9ersific#tion& moderni=#tion& exp#nsion& etc4&the tot#. pro6ect cost #cti9ity3wise or pro6ect wise& #s the c#sem#y be:

)i, here the iss"er is imp.ementin% the pro6ect in # ph#sedm#nner& the cost of e#ch ph#se& inc."din% the ph#ses& if #ny&which h#9e #.re#dy been imp.emented:

)6, The det#i.s of #.. existin% or #nticip#ted m#teri#. tr#ns#ctionsin re.#tion to "ti.i=#tion of the iss"e proceeds or pro6ect costwith sponsors& directors& ey m#n#%ement personne.&#ssoci#tes #nd %ro"p comp#nies:

) , !"mm#ry of the pro6ect #ppr#is#.; fe#sibi.ity report by there.e9#nt profession#. peop.e with cost of the pro6ect #ndme#ns of fin#nce& we# nesses #nd thre#ts& if #ny& #s %i9en inthe #ppr#is#.; fe#sibi.ity report4

)22, Lo :-i #)#, -ro9isions for .oc in #s per these /".es:)b, !t#tement of sec"rities to be .oc ed in for e#ch sh#reho.der

#.on% with O #cco"nt n"mber& .oc 3in period #nd n"mberof sec"rities to be .oc ed3in4

)2 , M %:(&* )o% &$( S( ,%i&i(* B(i O))(%(d# The iss"er sh#..#pp.y to #.. the re.e9#nt exch#n%es in #n%.#desh within se9enwor in% d#ys from the d#te of consent for p"b.ic offer #ccorded

by the Commission4)2@, D(* %i &io o) *( ,%i&i(* o,&*& di o% (i o))(%(d# A..

types of sec"rities o"tst#ndin% or bein% offered with d#te; proposed d#te of s"ch iss"e #nd to whom those #re offered&n"mber of sec"rities #nd iss"e; offer price #.on% with thefo..owin% inform#tion

)#, Di9idend& 9otin% #nd preemption ri%hts:

)b, Con9ersion #nd .i>"id#tion ri%hts:)c, Di9idend po.icy:)d, Other ri%hts of the sec"rities ho.ders4

8/20/2019 BSEC (Public Issue) R

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