Bharti Hexacom IPO Basis of Allotment

2As reported by the company, may include revenue from wireline, broadband, FTTH and other telecom services. (Source: Company Timing).

If our ARPU decreases, owing to internal factors or as a result of industry trends, our profitability may be impacted. Any sustained decrease in ARPU without any tariff hikes, or failure to premiums customers at existing tariff rates, could adversely affect our business, financial condition and results of operations.

6. Average Cost of Acquisition: The average cost of acquisition of Equity Shares by the Selling Shareholder is less than the Offer Price.

The details of the average cost of acquisition of Equity Shares held by the Selling Shareholder are set out below:

Vis certified by J C Bhalla &Co.by way of their certificate dated April 5, 2024.

7. Capital Expenditure: We require significant capital to fund our capital expenditure and if we are unable to raise additional capital, our business, financial condition and results of operations could be adversely affected.

Set forth below are details of our capital expenditure incurred in the corresponding periods:

™Capital expenditure comprises of additions to properiy, plant and equipment, capital work-in-progress, intangible assets, intangible assets under development and capital advances.

8. Significant Indebtedness: We borrow funds in the domestic and international markets from various banks and financial institutions to meet the long-term and short-term funding requirements for our operations and to fund our growth initiatives. Set forth below are details regarding our borrowings as of the corresponding dates:

"Debt to equity ratio is calculated as non-current borrowings plus current borrowings less cash and cash equivalents, divided by equity as of the relevant date. For further information, see "Management's Discussion and Analysis of Financial Condition and Results of Operations - Reconciliation of Non-GAAP measures" on page 357 of the Prospectus.

9. The 5 BRLMs associated with the Offer have handled 69 public issues in the past three financial years, out of which 22 issues closed below the Offer Price on listing date:

*Issues handled where there were no common BRLMs.

This Offer was made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"), read with Regulation 31 of the SEBI ICDR Regulations. The Offer was made through the Book Building Process in terms of Regulation 6(2) of the SEBI ICDR Regulations, wherein at least 75% of the Offer was allocated to Qualified Institutional Buyers ("QIBs" and such portion, the "QIB Portion"), our Company, in consultation with the BRLMs, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the "Anchor Investor Portion"), out of which one-third was reserved for domestic Mutual Funds only, subject to valid Bids having been received from domestic Mutual Funds at or above the price at which Equity Shares are allocated to Anchor Investors ("Anchor Investor Allocation Price"), in accordance with the SEBI ICDR Regulations. Further, 5% of the Net QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not more than 15% of the Offer was made available for allocation to Non-lnstitutional Bidders ("NIBs") of which (a) one-third portion was reserved for applicants with application size of more than Rs.200,000 and up to Rs.1,000,000; and (b) two-thirds portion was reserved for applicants with application size of more than Rs.1,000,000. All Bidders (except Anchor Investors) were mandatory required to utilise the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective AS BA accounts and UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter), as applicable, pursuant to which their corresponding Bid Amount was blocked by the Self Certified Syndicate Banks ("SCSBs") or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA Process. For further details, see "Offer Procedure" on page 443 of the Prospectus.

The Bidding for Anchor Investors opened and closed on Tuesday, April 2, 2024. Our Company received 97 applications from 64 Anchor Investors (including 22 domestic mutual funds through 55 Mutual Fund schemes) for 34,349,380 Equity Shares. The Anchor Investor Offer Price was finalized at Rs. 570 per Equity Share. A total of 33,750,000 Equity Shares were allocated under the Anchor Investor Portion aggregating to Rs. 19,237,500,000.

The Offer received 710,373 applications for 1,26,70,85,794 Equity Shares (prior to rejections) resulting in 16.89 times subscription. The details of the applications received in the Offer from various categories are as under (before rejections):

*This excludes 1,102 applications for 39,182 Equity Shares from Retail Individual Bidders which were not in bid book but which were banked.

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing Date as at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on Monday, April 8, 2024.

A. Allotment to Retail Individual Investors (after rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Investors, who have bid at the Cut-Off Price or at the Offer Price ofRs.570 per Equity Share, was finalized in consultation with the BSE. This category has been subscribed to the extent of 2.74 times. The total number of Equity Shares Allotted in the Retail Portion is 7,500,000 Equity Shares to 288,461 successful Retail Individual Investors. The category-wise details of the Basis of Allotment are as under:

Please Note: 1 additional Share shall be allotted to 14 Allottees from amongst 31,948 successful applicants from the categories 52 - 338 (i.e., excluding successful

applicants from Category 26) in the ratio of 7:15974

B. Allotment to Non-Institutional Investors (more than Rs. 200,000 and up to Rs. 1,000,000) (after rejections) (including ASBA Applications)

The Basis of Allotment to the Non-Institutional Investors (more than Rs. 200,000 and up to Rs. 1,000,000), who have bid at the Offer Price of Rs.570 per Equity Share or above, was finalized in consultation with the BSE. This category has been subscribed to the extent of 6.97 times. The total number of Equity Shares Allotted in this category is 3,750,000 Equity Shares to 10,302 successful Non-Institutional Investors (more than Rs. 200,000 and up to Rs. 1,000,000). The category-wise details of the Basis of

Allotment are as under:

Please Note: 1 (One) lot of 364 shares have been alloted to all the Applicants from Serial No. 52 to 54 in the ratio of 1:15 (All these categories have been moved at the end for easy reference)

Please Note: 1 additional share shall be allotted to 72 Allottees from amongst 495 successful allottees Serial No. 2 to 54 (i.e. excluding successful applicants from Serial No. 1) in the ratio of 8:55.

C. Allotment to Non-Institutional Investors (more than Rs. 1,000,000) (after rejections) (including ASBA Applications)

The Basis of Allotment to the Non-Institutional Investors (more than Rs. 1,000,000), who have bid at the Offer Price of Rs. 570 per Equity Share or above, was finalized in consultation with the BSE. This category has been subscribed to the extent of 11.93 times. The total number of Equity Shares Allotted in this category is 7,500,000 Equity Shares to 20,604 successful Non-Institutional Investors (more than Rs. 1,000,000). The category-wise details of the Basis of Allotment are as under (Sample):

Please Note: 1 (One) lot of 364 shares have been allotted to All the Applicants from Serial No. 108 to 192 in the ratio of 7:17 (All these categories have been moved at the end for easy reference)

Please Note: 1 additional share shall be allotted to 144 Allottees from amongst 20604 successful applicants from all the categories in the ratio of 36 : 5151.

D. Allotment to QIBs (after rejections)

Allotment to QIBs, who Bid at the Offer Price of Rs. 570 per Equity Share or above, has been done on a proportionate basis in consultation with the BSE. This category has been subscribed to the extent of 48.6403 times of the Net QIB Portion. As per the SEBIICDR Regulations, Mutual Funds were allotted 5% of the Equity Shares of the Net QIB Portion available, i.e., 1,125,000 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e., 21,375,000 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the Net QIB Portion is 22,500,000 Equity Shares, which were allotted to 251 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

E. Allotment to Anchor Investors

Our Company in consultation with the BRLMs, have allocated 33,750,000 Equity Shares to 97 Anchor Investors (through 64 Anchor Investor Application Forms) (including 22 domestic Mutual Funds through 55 schemes) at the Anchor Investor Offer Price of Rs. 570 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Portion.

The Board at its meeting held on April 08, 2024 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to successful applicants. The Allotment Advice-cum-Unblocking Intimations and/ or notices have been dispatched to the addresses of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfers to the Public Offer Account have been issued on April 08, 2024 and payment to non-Syndicate brokers have been issued on April 9, 2024. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to successful Allottees have been uploaded on April 9,2020 by National Securities Depository Limited and on April 10,2024 by Central Depository Services (India) Limited for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. Our Company has filed the listing application with NSE and BSE on April 10,2024. Our Company has received the listing and trading approval from NSE and BSE and the trading will commence on April 12, 2024.

Note: All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the Allotment made will be hosted on the website of the Registrar to the Offer, KFin Technologies Limited at www.kfintech.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

KFin Technologies Limited

Selenium Tower B, Plot No. 31 and 32 Financial District, Nanakramguda Serilingampally, Hyderabad 500 032 Telangana, India

Telephone: +91 40 6716 2222 /18003094001, E-mail: bhl.ipo@kfintech.com,

Investor Grievance ID: einward.ris@kfintech.com, Website: www.kfintech.com

Contact person: M. Murali Krishna, SEBI Registration No.: INR000000221

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTUS OF BHARTI HEXACOM LIMITED.

BHARTI HEXACOM LIMITED has filed a Prospectus dated April 5, 2024 ("Prospectus") with the Registrar of Companies ("RoC"). The Prospectus is available on the website of the Company at https://www.bhartihexacom.in, SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and the BRLMs, i.e. SBI Capital Markets Limited, Axis Capital Limited, BOB Capital Markets Limited, ICICI Securities Limited and IIFL Securities Limited at www.sbicaps.com, www.axiscapital.co.in, www.bobcaps.in, www.icicisecurities.com and www.iiflcap.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled "Risk Factors" beginning on page 35 of the Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold only (i) to persons in the United States that are "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act) in transactions exempt from or not subject to the registration requirements of the U.S. Securities Act in reliance on Rule 144A, and (ii) outside the United States in "offshore transactions" (as defined in Regulation S) in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.