The Offer comprises the Fresh Issue and the Offer for Sale.
Offer for Sale
Each of the Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale, after deducting their portion of the Offer related expenses and relevant taxes thereon. the Company will not receive any proceedsfrom the Offer for Sale.
All costs, fees and expenses in relation to the Offer, other than the listing fees which shall be borne by the Company, shall be shared between the Company and the Selling Shareholders respectively, in accordance with applicable law. Upon commencement of listing and trading of the Equity Shares onthe Stock Exchanges pursuant to the Offer, other than the listing fees, each Selling Shareholder shall reimburse the Company for any expenses in relation to the Offer paid by the Company on behalf of the respective Selling Shareholder, on a pro rata basis in proportion to their respective portion of the Offered Shares. However, in the event that the Offer is withdrawn or not completed for any reason whatsoever, all Offer related expenses will be shared by the Company and the Selling Shareholders.
Fresh Issue
The Net Proceeds are proposed to be utilised in the following manner:
1. Capital expenditure for expansion and opening of new restaurants by the Company
2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company on a consolidated basis
3. General corporate purposes. |