GAMMON INDIA LIMITED
GAMMON INDIA LIMITED
GAMMON INDIA LIMITED
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Lock-up The Company will not, for a period of 90 days from the date of the Placement<br />
Document, without the prior written consent of the Book Running Lead Managers, (A)<br />
directly or indirectly, issue, offer, contract to sell or issue, sell any option or contract<br />
to purchase, purchase any option or contract to sell, grant any option, right or warrant<br />
to purchase or otherwise transfer or dispose of any Equity Shares or any securities<br />
convertible into or exercisable or exchangeable for Equity Shares or publicly<br />
announce an intention with respect to any of the foregoing, (B) enter into any swap or<br />
any other agreement or any transaction that transfers, in whole or in part, directly or<br />
indirectly, any of the economic consequences of ownership of the Equity Shares or<br />
any securities convertible into or exercisable or exchangeable for Equity Shares or<br />
publicly announce an intention to enter into any such transaction, whether any such<br />
swap or transaction described in clause (A) or (B) hereof is to be settled by delivery of<br />
Equity Shares or such other securities, in cash or otherwise, or (C) deposit Equity<br />
Shares or any securities convertible into or exercisable or exchangeable for Equity<br />
Shares or which carry the right to subscribe for or purchase Equity Shares in<br />
depositary receipt facilities or enter into any transaction (including a transaction<br />
involving derivatives) having an economic effect similar to that of a sale or a deposit<br />
of Equity Shares in any depositary receipt facility, or publicly announce any intention<br />
to enter into any transaction. The foregoing sentence shall not apply to: (i) any<br />
issuance, sale, transfer or disposition of Equity Shares by the Company to the extent<br />
such issuance, sale, transfer or disposition is required by Indian law; (ii) any issuance<br />
of Equity Shares by the Company upon exercise of options outstanding as at the date<br />
hereof by the employees of the Company; (iii) any issuance of Equity Shares by the<br />
Company upon conversion of warrants outstanding as at the date hereof; and (iv) the<br />
Placement.<br />
The Promoter during the period commencing on the date of the Placement Agreement<br />
and ending 180 days after the date of allotment of equity shares under the Offering,<br />
agrees not to, (a) directly or indirectly, offer, lend, pledge, sell, contract to sell, sell<br />
any option or contract to purchase, purchase any option or contract to sell, grant any<br />
option, right or warrant to purchase, or otherwise transfer or dispose of, any Equity<br />
Shares or any securities convertible into or exercisable for Equity Shares (including,<br />
without limitation, securities convertible into or exercisable or exchangeable for<br />
Equity Shares which may be deemed to be beneficially owned by the undersigned)<br />
with respect to any of the foregoing or (b) enter into any swap or other agreement or<br />
any transaction that transfers, in whole or in part, directly or indirectly, any of the<br />
economic consequences associated with the ownership of any of the Equity Shares or<br />
any securities convertible into or exercisable or exchangeable for Equity Shares<br />
(regardless of whether any of the transactions described in clause (a) or (b) is to be<br />
settled by the delivery of Equity Shares or such other securities, in cash or otherwise),<br />
or (c) deposit Equity Shares with any other depositary in connection with a depositary<br />
receipt facility or enter into any transaction (including a transaction involving<br />
derivatives) having an economic effect similar to that of a sale or deposit of Equity<br />
Shares in any depositary receipt facility or publicly announce any intention to enter<br />
into any transaction falling within (a) to (c) above; provided, however, that the<br />
foregoing restrictions do not apply to any sale, transfer or disposition of Equity Shares<br />
by the undersigned to the extent such sale, transfer or disposition is required by Indian<br />
law.<br />
Risk Factors Prior to making an investment decision, prospective investors should carefully<br />
consider the matters discussed under ―Risk Factors‖.<br />
Security Codes for<br />
the Equity Shares<br />
ISIN INE259B01020<br />
BSE Code 509550<br />
NSE Code <strong>GAMMON</strong>IND<br />
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