#Prsrsrff*nkTE r$SJriaO Coit$filot{S Cr THE 8C}tp.S

,{*arE d gsndgfneg*rs; arc lots hst ed i$ tilpta?r o{ Unqqa.r:e* firseenableS{.*}ufdir}ated 8of}ds }n S* neluf,t 5{ Daber*l.g6& fha Bit{ds willrylstja{lte dir€d' Bre{ljt?d srd sr&a*dii.iw ob|ii}6t}}.8 cf .(,1a8,

r:nfiry geri p6e*u e{ilh or e}c6dn# A*ore.$!&o{diflsled deH artd*&odiileted..e {16 dairs cd.# oqr ofl€r sedllar-e end r€po${s.3as r*garch r€paytr€rt cf pnnciOd arrd lntetst oy r:s. Tix BorrCs

aS1A* be fiec dary r€rlricdvedause3sird sha{.ra{ be rgaie$qb{€d ttre iniia*\€ (, the |ncder o. sdttlo.rl ttE cofl-sent of tte ReserveBar* oil.*ia{RAli.

'I{IVATE A]{D CCI'IFiDENTIALilItrJl' $Olt flfi.el"rl-A IIO]'{

l*s,rrr Prt$ffirtrtlelr*ulOf+r*niBseCl*se*$d€a$oii, FirBfi cdn'r of Bsis.dftilDrmcr{rPr:r-Lr d#fay*r d;$e {$Ig&Ytlir6-sbar{Eg &*ScGcxrd Prih et *lo*{q6t

OsFFB & DFEO5RRB

lasta olAll,o*serf :{ai l{e reserve fie tight d os sd* and atlroai,,*i disr*tqr! baccepl subscnpiron arsJafls] egg'egalrtg m* rrEfe ltBn Rs.5O

etre ddef of,ion 1.

(bi ln cas€ ol ur:d6r Gl&scn?lron n trle oe€re*l isflre size of Rs. 1?5

crere erctudiriq opttr 1. the balance afiprfI eJoLBd gpl added totta isgje siE for optron 1-

{c} Tt}e cd-oit prce undtr o,ptio.l 1 worrd b€ ttE p.ice 3t h+rich lh€Uase ssre sue for aooor 1 o{ Rs.SC cro{e or srEit r8$et issueezg as per (bi etove 6 recrid.td) kl ces€ o, under*rbscnp8or rn oohon r. fle cr.d-off prce noridba$. hbhestf;te hd.{E} f{r all dher oplie*s, t}|e plhkna*i *orild .

fo*hrir€ s{er sd pris}t . nd Orliin 4, *}6.tOgt6fl 2 aid then Opilsn i

6a nA6e ln *€Optiaq 3, SEn

ta&r6rIldstt*ria $iiEe: $ts. 225 *srs{ias?anotionlo refain sr&r$rbEdrpiions{ftx.I{$ cor:lEtrur?r€nt ursda,ted R€dteanable Su$o{dhaledEtdds iotu ilere €d Deb€nh.reslnsklmEt Fofin: Or*y il Demsr t odefec€ fa{k * r}E, r0'ffi,000r-.Ser*rrdlgs,u. Pric€: R$. 10,00.0061- per bondhtlrrcal m Aitre appldb nerest rale ftom te*pdifiieq e&d*ri daE qf I"&di4.rr#deqrdrf dsaa.d@s) upto tr€ day fix to de€fist daredM|tfu*'rns.*is! Edie6*. ln casesf r:rulds &.*-O-litro.-!r'tt= da{eof rsskfui af .r*qirB{*y denlarid df3qslryb s€day r{ir to dt!€ d rafi}ld {n tE,t€tui*H pd'tb'!Ir**ee't Fay:rw*: For Opdore?, x a*d 4. sop,e6r fisrn.da€m*ddate of allotrmnt rrrd eery yes tlEroafter. ln re of Og{ion l.!'.,iry$x mo,t*trr tror* rlr* d+trnad &!9 tt tlloin*nr. lk,'wu*r,tie l*t ir*r*r pdyrrrarit wo{iu be fnsd* elorq \r,i* th€redemptir arut of, a pro€ta basis.e*a*a ftaea* Fol oFsor l, at esmi{Ilrli,d ffiryrl' frs{tt.lh€desrcddaieo{a$ffi.Herest Cdc.idon: fh. lnt rest on St€ oufsfardk{ prhrlpdfor ercl| sa**.anrurel pork d *!dd b€ calcril*cd m anAcrBl,:165 day Hr, bais*ecsd 0*€: Rffitd daie u/aJd b€ 30 da1.6 prlo. to rnlereal and,t{rLryfq*lxl daiELl5$rlg : lryhalt**q g€b{ X*lct otilSECredit Rating: Cere'CARE AAA't iCRA'|--AA.A'frur&a ; Ti16rrr€df{rr *dt T**.teeind E}ecdorc#ryarryLin{ed

{fl n$clrrr$at *ntle; r*er*io{r d.s$Br-s1*s€rbho sFlren ilodd haiFi*& ia fre't*l*tiru ryddr al pcorrtv Fifsl Qti5rt 4, flcn oilron3. fsr Op{tffi 3 *nd ttien A**n t,&.1 *eifl *a$*'! Iplion gdare|ree

',$srld'he Siya* r3 itt€E&* wtpi$6i, cefirait rt! et$dr dsks-(h) kl cec€ o, wr subsiBsn w6€r Sla r ,l d 3 o. 2 d1o.sge{rr,*r{ *::$pec$ad s$ovi, s,tellrTt€f,i }$ir$ }re. .Inii& sf} ap.orats b86i3Furltls . ln casa th*tt is oyar-s*scrtpd{E? ln &ron f {fbae}SRcte Boadr. p.rdrty w'fl be S,r€fl to rwegots m a\e io$oring order{a) firsr prtonly *&& 6e d;ven lo rnvestefs najdi,a 4 {'$e k*861end-of ttta 860* Buddrtg rang€{b} Thc second p{to.W u€{JU oe gIJef, to irh'e$ors i$da,og rorntvex a fe Cut<ff spread rate,

fc) fi{drbr. w.ihin a i*i s{ {ca$qnt biehn l& iauixt ai.thaserara str!.i, raE; rrtsrily ,rtld, be g*!rt {o td$ t€@irdl as! rtl!eader.e*'t*.{d} ln case d i* er& rosPoc{ b.sattad tr,li. &d Grlt s{ R€c€rpl o{llE bid, Ellocatian'#{l be done on Pbrata basie

Amk BuildirE procdun ( Fof Fklatiftg R# O$iffi-r)1 C.:otr-xr'€rlei.lg fton *e OfiBi Spe.trr}g era- p!*8f{tal itlraslate*i{ be ifir.M ta pla6e bid$ by ,}ay d Ls$et o{{ornq*ned. io tlepre*cdte{&rmalix !p.!ed inArrned&ir* I?. ts p€r S'tE feap:Bl, invadds'ala* ifidicge*re atranE*{tEl *rywr[ lke to rrNes:l at ditfereol mpon rales- Anemdtv€ty. itF€s]oranqy ildlcie. ltle a:l!s{!r't llrey rrn{dd lite h kne.r.d Are d{rg{lcrupofi .t8 W{s dgfied errier aa4 tj€. ehs8€d, at}ittF!€dlx1rq fle Hddir* pa?od lF€hlraty 15- ?Sef tn Fr&{ilaty fi,ZOOSi oy gnvrq i rerised ctnmibnerd lettct, wtbh shax b€deemed to $ipeasede rJl6 eart€r cornm'trr€ t3. Ylre L8s*rs SeccyrmirnrFr1i $hs*4d,ha ,46rysEd !o lt'!e Bo*kRu,",.1it'6 .&rariE*r by F*t$ow,ier&pe#*gd.&irery Pcdb!,{o.e dr€ bid clmt&gdai€. 't{s requests'fry ily c}r€59e tn th€orderc ryill k pernitted dts IiE Eid Closirug Date {FebMry ?'1.

2S{1t}. f!$ cort{denrialrty {f ecry*ilmB$s Bitatt h rdaffit#-

'ClCl Seart!:s shol be tre booi rurxrq ardrEtr.

4- Bse€d #t tile Letr€,B {*.fiitrda,lrrert,cc*i!?d, a'calMte$ot}af*' {ar ll* sften$r.Bn nd,i ne ilE@.f,qnBd ny *Glfl g*i{<.Lr*. kcas€ d t"t$ir-$.*6ctipfis{ in qd}Gl t, fu 11{-06 lah {,siJld -it !}ahigM raee bid sid. in fase3$ blls r$" atffig f,!fiis#I3e8, ilrcn &&a$t-on r*e si{ !e 8re b*est erd of sre iaak*{d&&g rargr€-f . Tne tin;o6 ca"rpon mid .deeided &r-lfie {ibirei*ire* .u.i}t !e.pirhaB€ tpr a& hY€{it6(Ii6. Ttr€ fird Gorpon rare elor8 wdfi lhe f,ireslo,/E a&ffili)n sf!3!b6 &arils!1i{*tsd s thri i.r{e*t$! lai!}$! se.n{A 1$'re.}.6 ttorBdsemrd ds!€ d ahlmBr{ilei t$€l apk Lld rsse(l*s i,!e foht e sha.*f *!* h*ueSdH** erd *llc i,ix*X *r dod a*ry sg$trat:&t" {, pqtt.f i]1

ti,*.rtm$4d essi*dn0 any reawt"

Hereit n Applic#o iiioney*6ersEi on afpl4albn nxrrey xi{ b€ pa{, to tt€ arp{icarlfs on d*xe ydd.ryplb*io.ls1 &1trjted {}n ar ich:a{13s5 say !s,9 &3foil5rts:A,lofled.P*.ti*.i: f{e?r dale $f r+r}s*ti*l oit}x*r,*f Oetra<rd.Of3*:{a crr dr? 9noi.r is dea{Ed date ot 3ilffincof d th€ ld3$.S#icrb*6 $ rile bsrtds ee,{V spp&*ir'rur {**iecr ia *&eiqe oflrrccne tar urde{ rhe I I A;l)llefuaded Pedi6.r: frdrn *sta tf rcsll$ailon {*r@$d O*t}ni!6or?* til- are d3y prtor & de& aI re6ird *t'+$g[ t!,@ !oNr"t/tw? dtxww i*x u@ N {f ,4€t} q, W @@ponim. Wfle.e tiE erlt{r amoijnt traa been retJrded.tte ,.rlerest o.r apdiagm rnomv wiir be payat&c don$sih ti€Hurr<l Crdas.w.lerean Efdicani is a$*ited ie$$er n{tnbetr* fha*#iad&r, Ihe €xegs.ar*aunt pa.id rlrl aprli{e$$n'sill }e ieti$!*ed 10 81a.

applicant dongHth lh€ inlesi m app:Eat on tlorsy

: tetfray 21, tr00$:f*bruary34" ?flF

r f*fi$(y.r3,1305: febrq*y2& 2o0sI r{ryurry?q.$0S

&

fF!

ts&ltefiilark1'per'beix .lrrrra* lt'lBl*t{ *,}l !e a sirnp& av.era€e.d t ld ol Eidafld Ofier tletds ot the 1 yetr GOI bendmark {as ser on <NBMK- F3> pa€E cf *eidars ai lL$fi noon; ar.dpn $laffard "linra] {*rimedialely pfecedn€ dtree ixJSirress dalB pno{ lo tl€ inleEslpaymer{ penodFor {t}i fir$l ir**req.l Feilrer* itrg

"vetqe !t 3 days.sfiisr to isEle

op€n d3l€, wlNl b€ appgcable- Thr6 works ord to _%

OrS6s, Ot$sn_ '.z ffinI qp$sfl{Tre s rs!

,nttls5rls3trrffi

, yFitndl,$

r xrs.Jmlt}8

1lpeiFadEa,Ofie dlrliM I

5{:Ct(*4dinc

F,xed Fix€d Fircd

rn€teal*e*l?.a.r'

HqaargF@lyeaf'slBux+60 b9s'tutS+q'*"5eisrt -

'-tr6{t ra&a

Ii&&rx8Eatsr-00%

riffire7"w,

.*Ffi&:a*3r! ardi icr

nr{jliipl€ie{ 1*bsr63

l{Jr Doal{g3

,td lr1

nq*ltdesdlgbar$s&.-r6s$Er

t{, !q.l{lsixd nl.a{rt#€idI0!s*e.i,1elwitlsr

sJ o0{86ard it:fi$tirh5a{ r0bordsrf*marre

lnBr€giHffi

Sarr!*- *r$!$d fnfirr&t &nn1l6l

tu ragil5

."RI VATE AN} CONTMT:\{TIALT FT}R CIRCULAfiO}i O,rra Bank

-fle *rlteres caeque{s} rla'rla'xi dl!&ei br interest ** aFpti..tbn$uray {a&vrar*r& Rtfrsd Orders; in case of tduid o' aFp'k5{t!r}nrorrery. if aoy) slEe be dispat{l*d ry lhs 8;*!. lgilnin 15 d*ys **rnlie Dee[€d Ctate c, AnotrrBl ertd lh€ relalryc frterest wariltis,abnqtrlh tltr Realrrd O{de,{a! 3s f}e case rnsi !€. will be

dr,spai.ned bi r€g&ar"d p{6#5p6€d gosilcai,.tetj}tard delivery !es1e s&i [r$1 apdca*1, .1. ihe ssb tisi{ ot t]e apPlicst{"

PaymI* o{ lricresa of Boodi*a Aonds sha{ c.n"/ int*itesl 3! $}e csrpon .6ie {s$bjeci todducfiE/t ol l3x * sa*e et tlre rats p{evailinq fu* ti** lS Ur*l'lld*.,tle F{orisidB dl&* }" T, Ac-i or ar.ry slarutory t}'sdfieatsn oiB*aa.lr?refit il€reot,l oo fe *fs&nd[]g arfio.{{fi d *]e Pnneieallifl rcde{rlptian. &*erBsi st$ eq paia, drtB ys. ?ran the deErned dated alHrn*rd snd evety yeer iter*afur br Oplhn$ 7, 3 and {.-ln€se d Wlfi 1. ir*er"6i wi{* be raid ev.sty sir r:srlhs irsn tt*dedfiled dsls d ,lbtmsl* TfE l8sl irJleresi. pay*Y6nl r{ill I€ r*deal the tirE od.Rcrrsmptor c, tha Sood on a prc-tata 5ass. lntae6lffirfl6l1 wif b€ msde by clEq.res p3y3t e a par at srrcfi @cesas $€ rnay desn fit ln case t€ ctEque Oayabl€ at par taolty is

not *e**ile, re rsssFFo llici dght 1o rados any ot rer F{*bbl€f,rqie o{ pa}tr€rd"

Fryrtdrrl st k rrr.s{rs*ixt to B*ducfror llfTat *t $aureef* ;rtereA pai* oq tpptieat q llpney 3nd itltere* afi Bsr,ds)ri*be q,*,e<}t 13 dedrrtiorr t{fa* al sc[s et** rate€ prevariirg liom*tE io fitnc rFdar tha piil&lmr d *E l"T' Act o{ ary slah'n!'}madifcaliaxr o( re€'lacftl*r, f!e€d" 10' eflsrr6 tsrFdedudrsrir{6/e{ dddirclbfl ol terr al !8[re€ lrerh gorlds: *1€itreslor dBJd g$rnif, rd.evar* *ertincabGX tixuaen(slo$*rerr#rrce. as fiBy be aprlEabl€ sth $!e Applicaton Fom. or *nd!o *ri Regr$ts6}orq xith a copy.o{ ltx apSlcaliot! irrrr od s*G fre dosrre of fE Isse S,$6€que{rdy tetevan!cerffieete(sfdffirnen(sy dts evdee. ag be apolbabie. mayU" s,ifq*Ued ro e {rl*efi fj'nll*d, Tou*er$6. 3.d to $lh Fios'htemaixel lrfo&ch Patk. Vash. nt€w Uumha 40O 703 o{ tcsrc*r pereo{! at s$ch. ad&ess e$ !?ay !e not S*{ }y us tom fire totm. +r*irg tiB mnE ot tiE soM'sl Bondholder. Bordho:de{

ry.arrber anc-Er* *istjrrtiw nw$er{sJ af the aondis} h*id, *{ ba*9rE rr}odh prroa b $te toktss pa),ftlar{ di}*- Ttie invesfrre iwdb sJb,lra i.etayat{ mtr;Ecaeqsy dgcxsrtea{&p o$le{ e*if*fice, arfiay be apdicaH,E earfr nnancial }?rr b e.t1srr,e norrdedt}Clbl otkK dedlaion d ler el $SrC6 fr'9m inlerect oa Fcrdg,Bondhddedsi shord dao ssufl tfdr lM til advr*B m lh€*ax in4,licslisls pl lhe €q{ri$i$o.L $ine{s'hi! ?t}r, sa,e o{ 8aa'IdE,

srxi irrcome siltattg lileresn.

Prir*ing oil Ban* Pattildars o{t ldeetmedgnptis tryaraflt3As a ntrer o{ rre#ajthn qlaitE'l p**etble kaudubr* erya*"te"td tdurd nrdGts ffd iqetesudstnden *attaflts d* t! ldsr o,B*sdeester* *€ psAicrr*5 o{ ire. rlplica*f: }4.& 3c{:s$d ar*,rsr:elarily re*ui#d lo be lrven for prinfing !fi fhe. +rder*waIIanB. Ap#Icafitr}s wi$ptd lhis d€lad ae l;abE to b€ rqecied,Baf,r @Gl pertfira6 wil oe Prinled on the otderg *aftat{6$ihfeh car! $'efl &edapo*iiFd or*y sl tle a4*q.fit st*emed.

Prymerdal Xed€mdio{tBcrds ltcid in €.lcct o& tolm,O,! Ltle rEdgrfiffi *ato, redE:rwlton. proca€ds werdd be panf bynta*]deay ords da. io lhsse BondtlElderE.whosd t:atr!69 appearon tire & ol leneircial ltlmers trve{] by ths Depo6ilo{i€$ tG trs^

ftffi oames $rorrd be as per the Oepasrblrcs rscords on lh€neard Oat#ootr .Cbslse EeiB '&ed ls *e pryr*ae *ied€tn9mri. These Eof!6s wtfl be simrdiarmrdy sttrEuslEdlhrotlgh approp.lafe debit cotmrde aclor lt nray be noted ttEl ,n

Sle g*rre procesg rrpntooed abore, rlo actiofl rs ieQuaed ffl thepart d AondE{dcrs.P€yrn€6rt ,fl {€delt}piion l,6, be .n@!i rheq.,€s pa}3bl" q p3f ar

*ur;fi flaii'as r}g qlqy ileern'Bt, ln casi fr+.ehtque Sy#e at*ar'leil:i$ is rEl fi,ail#- re ?e$dh.c thetigtl &*a$oplanyo$t&rsrritaole mode cd payrrer{- Our list }ty h Bondid&r(s) to*6rdsSs/1fsir n8l{a kld}dir8 for pai*!e*t # aths{*{be shdl standaxting*islrd fra*n the dafa d rsdenpto.t tn ,ll e*ms *ld on eirdsspslctlls lhe rEdct.n$is.i- arrmfils b llle Bc.Hrftcrdar{t}-Fuifts.. !t e i,;e rbl bc Sab& to pay *1y i.Iie{esL i4etrrye or*lngerEa{*sfi *{ arry *ird konr lhe ds!€ d re&r.ry{rs} t{ li}f*oadtsl ln cilxsfheri,ide d, €{ierfldtr& fdl* oo a t}diday" lhe lslififer!?3t p618tl* abog*ifr iil* r€ds{ttpti{rtt paym*d u&q6 ,}adetir lix aext rrrcdrirq day alr.Swilh tntdte€t rbr lrle f&kfsy.

Fgrch:*We may, at 9ur drtrrEtion. 4t 5ny lin]s flslt€ BrtatlgetrBnt$ forprrchsse ,{ Batt& al dit{a'fil, at par ot al a pre*ium in th*op€n ma{*et or othemite. SEh Bonds my, ol ouF of,tt'an. b€

re*eenred. carEs.lkd, lxltd, teissued ar esord st '{Jc*

P*Fe md6,1 $uch 1*rsr9 and cor-ditb.E 6s xe

''lay de€m fii afid at perxriltt€d

by,aw

Rtgt}tloBEirc Eoaq*)

EO5FRB & DTEOSRBB

\4herE *e trave tedeemed or r*pltthassd any qotqs)j 9re .d$fhsve afid stBrt be deg!}ed alxays t* hsYe hs$ tt* ngh io X€8p

$lrch gondB alive witlioL{ exlrlq{rsati€m fd fhe Fa'ryo3* S tesales ieissue atid ,t er€ra,.sir€ d tiSnt *e sfid{ lu*lE and b*deernxl alwayr !o t'6v* ha{i fle F6#sr }o re:ieil o, r€B6r]e c{'s'1

fioflds €tll.er by I;'se'@ F reissuitrg *€ $elie aotds t{ !yissung o#*r Boids in t}rai' plscr. Ttiis ]txrirses t]e r,g$tt io l"issr*s*tr€18$'nds-

Joirrt-tto*der:lfilherg lriltr or rri+re perssnE ate hdiers ol *tr, Bsd{r}, lhey sbdbe seeqlrd to hdd $re 6a,r1e 15 ioiflt tsna'lls wiin itstlefds o{

surviv*srxp ti*iect qe oihsl ,&vi3,ofi$ .onfaitid *r lfte Atlieies.

Trilrfer of Bond{slBords iratd ,n 5b*trodc l$?mtlrtqia,iBedi Jtrt'8.r&H !e fan*,tn*dsubied tc and n acordsrce *ith li;€ n{e$pTcqif,e-s

-aslre;eilbed by lf* Depodaonrl Oepaailcry Palt*t$aot of t*fansi6roi/trtfl#*5 :td any otte* gpolicat& lg'rs ard n aencfufred m espe{, li}eted

firho Cr 8ppry'iila nD*ydfis cil ,nce.!o.3 trPI ryry rlr $E bondr.s{Siitd. !o t*lUmp *rat espelive inYE }#.:efli rsr7rr*, n $ bY

'.J}B!frrr"lC 6lt $r€ rerBYafi. Accu&e.ttts along*a& HIe ,p#ii:e*on

{fin,1, Sciiisdrded C*rnrnotciai Ssoic;2. Fiffimrt tnsiliillirrts;3,l.E!rd16* fumpat*Lre't. Pdffia.y/ Stalel oiettiiri Centtal Co-&ersfiie Bsnfs tsl&iesl t0pcrmrsrcn trofi RBI):6. fravider{, GtEl*fy, Fen$on ad Sr*etcffsJalion Far)ds;

S.fiepiotsl Rtxd Bai*s;7. Muuat Funds:a. f,{ilrpan e3, Sodias Corporag :u:tiro*ad to inverii} iror$s:{- Trus$" Asscialinn ol Forsars, Socielt€s $i'tigstEd Y'dB{ t'Eadica$e lal8s in ,nd,a *t*etr are ddy e$afDiisDd ld ird n!6flds.

Apd€ations utr{er Po*r ol ArtcmeYUn*ss s|e Ew*ifieairy agr€e ln Yitjna vrirn o. {vihotd $tca l€rrng

tI.d 6rdit$$ ?r dai,eri & in **e ce$* if apl$eiiEa{lg F*#* Erder?o*rer cf Arlomry o. b, linrited mirx;nbg, cerp*rat* lodies"fu3ls i*6,, a re*tred cspy {}{ thB F\i{h*rcf l*i'6r}6y 4r*o{ 8iete,le*anl au*Bti*, aa llE ces{ .n y be, and a 6s1tH copf {,{

*terEor*rrdirm ar$ f;dlict€s d A$ss*i$la$ *ndlcr uy*la'vs, rd]er*afptics,:E, mrl3l ba bdS€d e*pa'gl*ly, akng *iiii a ptldoeopy #l# aporCarim F rm ai IIe t#ae q, lhe R€g*eh?t lf *he jssret$rrr:fanea;sty **t t*a submisssal of *re Appihato* Fattn,ialdlcatr$ ti|€ rlafi* r}t frl*. afpt6ar{ ahcrS {,'th ttp addr*ss,ap$rcatpn rurr&*r, date ,{ su*mts$bft *f *ra S$*dicx: Fcr'n,narne d !r,!* barh al* kalrclr wlEl? k *6 d.fostted,{rrsEueDemand Or€ff Nuf*herarxi tx bank ad lrglfn !6

",h&:i1tte Clxeqt er0etrs1d Baft uas dracrr!,

Perynaigrtt Ascourd Htmbd {PtH}-rl:{a.5pdilar, ot lil rln case ol ei a#iic.no{t it} i*rit isrr66' escnt lhe arrlxraall sh-ouu nier*ton his.rtlif P€.alar€fi r{*fr*t}tt&snbar tP&N] a{i#d ri*det S}F I-T' icf Tlle c!9? d tlle FA}ristd *r PAN e*irnx$. lei!*r is r*uircd b be ri$,,lilt'Ed wi& tllcapplbalton fo.m" AIp'ffihons trilEr, thls ir(ryrrralon ard*i:.*treas *f,l ba *d6sd€{e{, iffi*aryle{B aid e€ $a!i€ b.bee,e€iad tf PAll is t!8{ aib{hdt cr has le6t} SiidJa.' n}al{{onawdr€ty. L ca6e lhe,Sa}6 fitsi Apdksnf, tfi6 ryt{ Ap4ry{i5.ar6 fi, .required ta d*i6i{1 pA}I, 1rhg a$#ic{*{ .dt* a}a.sot}'t$ns!,ltf*l*'. !&ie*€ itn lpd;ra* ies og'lta*s -Afdt$ er' or'llsl Aldixb,:'" su a:{r€irirst Ap/raaf{ ao$ JaS* A9!&a*31:6Sre-case r*al, be *!dd bd .6$.,t ed fo $rb{tit ksn S' dt*y S}&d

Wrg,r**i a cogf of 6nf orc 9f lti" b&rwirg doa{"f4ri in suppo.ttdtm eddrees: i:r) tsenlity *ast i*r:ed by 3rY i*$,{tntd! {b} Capyd tll€ ebct €ity bdl 5lx#irlg resrenna ao'oesg (c) Arf doc{fft€niof, co{yrnuntcabon asued by any alrthorit} d ra CcfllrEl

&rrer{sn#* or lo(al bodb+ stro*;ng a*kee6 {d.l Any p*'*rdactnnrr*rl eyldefic€ in suppo*L o{ addc** {,li€'l f} ee**elaratar.

IilAP$I - Uniqu€ ldcnufratlon t{urb€r (UF{}

Appli*a$€ k, spscirb{, mvs$st L€iry I b@ earpoat* &e€r ssrla b@y tocp4.ete il*estr p4p{na{€t5 of dfua}dq5 ,atf .rytsottr*idixr outside ind;a aid ryhoIe!€r A1e F€oidefi{d l,*idCeatrdC{r€nxlrenlsta?* Gocarnfire*lt ;$ a sr+tvtd€{ is.e,eqx{*d *em ltrr*qrire$rx of c&{*inirq UIH snd*r .egdalisfi g{rl !d $EB1

{e€FlttEl tlal3bara of Uar*et Psd'rcip*nis} Ac$rtraPryE ?{0:: srdl'il*{fiedia{*?s regisler*ti v{ifi S€8,. ln iexrri d S€Bl {Cerkalflalabss€ s{ Ma,tst Ptfiirip.r{s} Req{jlslicxi' :nS3 * eqrendsdfiom tirs io linr:e. md si.lh StEl No8l*catiilfts d;t{8d Hoverth€te5" 2003 and Jui! 30, 3trC*" 'r* ;pac,,iied inve$o b6irq c i)ody

erporale {alt€i than a b* ew:a* s,t}dsa flotrd€ts *fd,i.e&rs sra p*sn,1g te*de{d tulsid€ Itdit * aS rer Sffil P?tsgRalees€ PR l*. *4tmi d€tsd 315i !tsr*fi.bet. 3m{} si,*

Torms for Privete Plceemcnt

* Sub{ect to TDS at

lseua S[re: Rs. 225 crore with an option to retain ovomubscrlpion of 8s.225crore

kratrumont: UnsecureO nedeemable subordinalad Bonds in the Naturo ofDebentures

laetrufirsnt Fsrml On{y in Demat ModeOutlon: No nut&all osdonEler; Ynlir: Bs. 10.0O;0S0F perbondbxre&: Fs. l0,SO,CISl- per tteqdln(@t s':Wictt*on*onoy;

At rhe appticaru ir#rast rat* fronr ttx datc,of f'ceaissti*n dchegue{s)/ demand draft(s} upto one day prior to desmed date ofallotment for the optiofi apd$Fd fsn lrt easa at r*fun** €} rt'0%

frrrn the date of rBa{isalSon of rhewe{e}l dernand dd{s} uptoone dav Brior to dats of rsfundrn tho refunded porr'lQn

thftlrrdt fetman*:*,,

For Options ?, 3 *nd 4 one yeartrom deerncd dcteof:elto{rflentend ?vdry year thcrea*or.ln c*so ol Optlon 1, every *ix rrlofithsfrorn the doami*d datc of allotmant, l{owswr, tha lar*{qtprectpayrnent rrould be mads along with the rodernption q*tcunt on aprorata basis.

It*arlrc Sc#: fui Optlon 't, at semi,annuql intewalgfrom the deemd date ofallotmant

[rLrst ffc*rffiion: T}rs iniers$t on the nutstanding principalfor each snnti'annualoariod rssuld bo cdlculated ort, an aelual 1365 dav count basis

taeo,rdlletn: Eacsrd'date would be 3O days pior to interBst and redernndondate

LHIrrc: llVholaCIale Oabt Sesment et f*Sfigrdit BatIHa i Care *CAFE Ar&{* I EfrA'LAAA'Txrl**.: The Wwtar* lndia Tr'sst€ :ar.d Execu*r fornpny Unnit€'d

FrCian ! Odiim 3 ldlor 3 Oiition 4fcr*rur 5 vrs 3 rnths i vm 3 mths I vrs 3 rnlhs l0yrs 3 mths

Iwl {frxrd, gookbuildinol

Bcak building Flxed :ixed ftred

hxcrs* Rete {pa.}' Floating rate1 yearINBMK+0.S0?o to0.$0-96 {resetsemi- annualbl

Fixed Fate7,0il%n

Fixed Rd*7.10%

Rlffid Ratsf. AYo

tirliffi$ll iilX&ltti{}n i0 bondb and innultiple of 10ronds thereafter

50 bords and inmultipla of tObondstheroafter

5O bonds ard inmultipleof 10bonds trereafier

S0bondasndin multiphofl0 borrds*rerca ar

El*lsrgt klrmrrt Semi - Annual Annuat Annsal Ar**ual

Ia*r*gbxrn &*m $rt: :ebruarv ?2, 2005

cxr; glorn* gni :ebruarv 25.2005

[illarctrio&rfi$*i.tkn of B*ds of*tdrrnffirp1udn rtr*c: tebtuarv 26, SOffirhis-k hm lllioh Yduc Cle,arins Onlyl :ebruary 28,2008,Gamsd trlrtr sf A$otrrGntl ;ebruarv 28.2005

Ssxi* rrf "*ll*tment ; Basis of Allotment:{a} We rsserva the right at our ssle and absolute discretionto *e$*S subseription amount{s} aqsregathg not moie thanFs-50 trc.re under option 1.

{b} ln cese of under-subscriprion in lhe overall icsue siee ofHs,1?5 ctore excLtding op,tiotl 1, tilc balanss at$sunl wouldget *dded to the i*suo siza for ogi,on ! -

{e} The *ut'off prica under aption :! vyquld b* tho pric* 1t

which the base is$ue 5i2s for opiion t cf Rs.S) erore qr s'uch

higher issue size as per (bl above is received.

{di ln case of *ader-sub*c{iption in cption, 1, !h€ cu?di'prioewoufd be the highest rate hid.

{e} For a!} qther options, iha allotrnefit r,rrould k made in theta,ll*wing order of Fnlrity. first Oprkrn 4" then Op{bn 3,

tften 0$icr*2 and th*n OPtion 1"

t* Albrment under retenti$n cf oyer-st&scriF{qn op*.b$woryld be mad* in t}re fotlo*{ng ordsr $f p,nar*y. flr$tO*ian 4 then,Option 3, thsr-r Optiaa 2 and thst Qption 1"

{g} Within each - option p:*ferance ra*ould foa given toinvestors who invest I commit on earlier dates.

{h} In case o.{ ovar subsc-ription und*r o$io{ * sr 3 or 2 afferallotrnent as $pecfied above, al}otmentu&uld be made on a

prorata basis.furrflsr : ]R eaee there is pver'subseriplbfl iil OSioil 't

{Floating frate Bond}, prtortty rvill be given t* irva$tors in f}€

i3i'?ffi:,ffi yrry F*q1n.n ro investors bkrding at thaloursst end af the Sosk $uilding raage.{b} The aocond pri,crltY lrvould }e giien to investors biddinEto invest at the Cut-off spread rate.

{s} fu*her, within a $et of applieations biddifig to iavest atthe sam* spr*ad rats, priori* sllail be giv.*a ta bids receiv*don an eadier date.(d) ln case of tie with respect to spread rate and Date offieceipt of ti:e bid, allocation will be done cn Prs*rata basis-