GAMMON INDIA LIMITED

ISSUE PROCEDURE
Below is a summary intended to present a general outline of the procedure relating to bidding, application payment,
Allocation and Allotment of the Equity Shares. The procedure followed in the Issue may differ from the one
mentioned below and the prospective investors are assumed to have apprised themselves of the same from the
Company or the Joint Global Co-ordinators. The prospective investors are advised to inform themselves of any
restrictions or limitations that may be applicable to them. Please see ―Selling Restrictions‖ and ―Transfer
Restrictions‖.
Qualified Institutions Placements
The Issue is being made to QIBs in reliance upon Chapter VIII of the SEBI Regulations through the mechanism of a
QIP. Under Chapter VIII of the SEBI Regulations, a listed company in India may issue equity shares /fully
convertible debentures/partly convertible debentures/non-convertible debentures with warrants or any other security
(other than warrants) which are convertible into or exchangeable with equity shares at a later date to QIBs, provided
that:
equity shares of the same class of such company are listed on a stock exchange in India that has nation-wide
trading terminals for a period of at least one year as on the date of issuance of notice to its shareholders for
convening the meeting; and
such company complies with the minimum public shareholding requirements set out in the Listing Agreement
with the stock exchange referred to above.
The Company has received the in-principle approval of the Indian Stock Exchanges under Clause 24 (a) of its
Listing Agreement for the listing of Equity Shares on the Stock Exchange.
Additionally, there is a minimum pricing requirement under the SEBI Regulations. The issue price of the equity
shares shall not be less than the average of the weekly high and low of the closing prices of the related equity shares
quoted on the stock exchange during the two weeks preceding the relevant date.
The ―relevant date‖ referred to above means the date of the meeting in which the board of directors or the committee
of directors duly authorized by the board of a company decides to open the issue and ―stock exchange‖ means any of
the recognized stock exchanges in which the equity shares of the issuer of the same class are listed and on which the
highest trading volume in such equity shares has been recorded during the two weeks immediately preceding the
relevant date.
Equity shares must be allotted within twelve months from the date of the shareholders resolution approving the QIP.
The equity shares issued pursuant to the QIP must be issued on the basis of a placement document that shall contain
all material information including the information specified in Schedule XVIII of the SEBI Regulations. The
placement document is a private document provided to less than 49 investors through serially numbered copies and
is required to be placed on the website of the concerned stock exchange and of the issuer with a disclaimer to the
effect that it is in connection with an issue to QIBs and no offer is being made to the public or to any other category
of investors. A copy of the placement document is required to be filed with the SEBI for record purposes within 30
days of the allotment of the securities.
The aggregate of the proposed QIP and all previous QIPs made in the same financial year shall not exceed five times
the net worth of the issuer as per the audited balance sheet of the previous financial year. The Company shall furnish
a copy of the placement document to each stock exchange on which its Equity Shares are listed.
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