GAMMON INDIA LIMITED

USE OF PROCEEDS
The total proceeds of the Issue will be Rs. 3,041.59 million. After deducting the Issue expenses of
approximately Rs. 60 million, the net proceeds of the Issue will be approximately Rs. 2,981.59 million
(USD 62.06 million). For further information, see “Placement”.
Purpose of Issue
Subject to compliance with applicable laws and regulations, we intend to use the net proceeds from the
Issue to fund our growth plans, acquisition plans, meeting working capital and funding capital requirements
of the group including subsidiaries/ associate companies of the Company, investment in energy and related
business, repay debts and for general corporate purposes. In accordance with the policies approved by our
Board and as permissible under applicable laws and government policies, our management will have
flexibility in deploying the proceeds received by the Company from the Issue.
Pending utilisation for the purposes described above, the Company intends to temporarily invest funds in
creditworthy instruments, including money market mutual funds and deposits with banks and corporates.
Such investments would be in accordance with the investment policies as approved by the Board of
Directors from time to time.
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