62,424,351 Equity Shares of Sai Silks (Kalamandir) Limited are subject to a Lock-Up Agreement Ending on 31-MAR-2024. These Equity Shares will be under lockup for 190 days starting from 23-SEP-2023 to 31-MAR-2024.

Details:
Pursuant to Regulations 14 and 16 of the SEBI ICDR Regulations, an aggregate of 20% of the fully diluted post Offer Equity Share capital of the Company held by the Promoters shall be locked in for a period of eighteen months as minimum promoters? contribution from the date of Allotment (?Minimum Promoters? Contribution?) and the shareholding of the Promoters in excess of 20% of the fully diluted post-Offer Equity Share capital shall be locked in for a period of six months from the date of Allotment as a majority of the Net Proceeds are not proposed to be utilized for capital expenditure. As per the applicable provisions of SEBI ICDR Regulations, ?capital expenditure? means civil work, miscellaneous fixed assets, purchase of land, building and plant and machinery etc.

In terms of Regulation 17 of the SEBI ICDR Regulations, the entire pre-Offer Equity Share capital held by persons (including those Equity Shares held by the Promoters in excess of the Minimum Promoters? contribution) will be locked-in for a period of six months from the date of Allotment in the Offer, except (a) the minimum promoter?s contribution which shall be locked in as above; (b) the Equity Shares which may be allotted to the employees under the SSKL ESOP Schemes pursuant to exercise of options held by such employees (whether currently employees or not); and (c) Offered Shares, which are successfully transferred as part of the Offer for Sale. Any unsubscribed portion of the Offered Shares would also be locked-in as required under Regulation 17 of the SEBI ICDR Regulations.