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GAMMON INDIA LIMITED

GAMMON INDIA LIMITED

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USE OF PROCEEDS<br />

The total proceeds of the Issue will be Rs. [●] million. After deducting the Issue expenses of approximately<br />

Rs. [●] million, the net proceeds of the Issue will be approximately Rs. [●] million (USD [●]). For further<br />

information, see ―Placement‖.<br />

Purpose of Issue<br />

Subject to compliance with applicable laws and regulations, we intend to use the net proceeds from the<br />

Issue to fund our growth plans, acquisition plans, meeting working capital and funding capital requirements<br />

of the group including subsidiaries/ associate companies of the Company, investment in energy and related<br />

business, repay debts and for general corporate purposes. In accordance with the policies approved by our<br />

Board and as permissible under applicable laws and government policies, our management will have<br />

flexibility in deploying the proceeds received by the Company from the Issue.<br />

Pending utilisation for the purposes described above, the Company intends to temporarily invest funds in<br />

creditworthy instruments, including money market mutual funds and deposits with banks and corporates.<br />

Such investments would be in accordance with the investment policies as approved by the Board of<br />

Directors from time to time.<br />

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