The Offer for Sale
The Company will not receive any proceeds of the Offer for Sale by the Selling Shareholders. Each of the Selling Shareholders will be entitled to the respective proportion of the proceeds of the Offer for Sale after deducting their portion of the Offer related expenses. Other than the listing fees for the Offer and expense on account of corporate advertisements of the Company which shall be solely borne by the Company, all cost, fees and expenses in respect of the Offer will be shared amongst the Company and the Selling Shareholders, respectively, in proportion to the proceeds received for the Fresh Issue and their respective portion of Offered Shares, as may be applicable, upon the successful completion of the Offer.
The Fresh Issue
The Company proposes to utilise the funds which are being raised through the Fresh Issue, up to Rs. 2,000.00 million, after deducting the Offer related expenses to the extent payable by the Company with respect to the Fresh Issue, towards funding the following objects (collectively, referred to herein as the “Objects”):
1. repayment/pre-payment, in full or part, of certain borrowings availed by the Company and by the Subsidiaries viz KHKPL,
SIMSPL and KHEPL; and
2. general corporate purposes. |