KAMA Holdings Limited (holding Company of SRF Limited) is a Core Investment Company (CIC) as per the Core Investment Companies (Reserve Bank) Directions, 2011 and operates mainly in the business segment of Investment activity.

SBICAPS – Role in the Transaction & Value Add

• Comprehensive engagement and assistance right from the planning stage till completion

• Carefully planned the overall Buyback structure and executed the transaction to client’s requirement
  and satisfaction.

• Handholding client throughout the process, including:
  – Guiding on the overall process and launch timing
  – Deciding on the intermediaries to be appointment
  – Probable pricing, based on the performance of stock price and past precedents
  – Advising on and solving various regulatory issues and hurdles

• Persuaded the client to have financials of September 2022 audited to reach the desired size:
  – The offer size calculated on the audited financials of FY 2021-22 was less than the one envisaged by
  the Company.
  – Post comprehensive discussion backed by analysis of precedents, we persuaded the Company to
  have a Special Purpose Audit for September 2022, to reach the envisaged size.

• Advised on probable Offer Price based on precedents.

• Structured the Buyback to mitigate potential breach of MPS:
  – Considering pre-Buyback promoter shareholding of 75%, suggested compulsory participation by
  Promoters to address possible breach.
  – Discussed the methods of reducing the holding to less than the stipulated limit after the Offer,
  foreseeing the breach of limit.

• Advised on the Optimal method of buyback to be followed, based on situation requirement:
  Since the Promoters were required to participate in the Offer, we suggested to follow Tender Offer Route

• One point Coordinator ensuring smooth execution of the transaction.