3,200,000 Equity Shares of Arihant Academy Limited are subject to a Lock-Up Agreement Ending on 26-DEC-2023. These Equity Shares will be under lockup for 362 days starting from 29-DEC-2022 to 26-DEC-2023.

Details:
Pursuant to the Regulation 236 and 238 of SEBI ICDR Regulations, an aggregate of at least 20% of the post Issue Equity Share capital of the Company held by its Promoters shall be locked-in for a period of three years from the date of Allotment in this Issue. As on date of this Prospectus, the Promoters hold 12,20,000 Equity Shares constituting 20.15% of the Post Issue Issued, Subscribed and Paid-up Equity Share Capital of the Company, which are eligible for Promoters? Contribution.

Pursuant to Regulation 238(b) and 239 of the SEBI ICDR Regulations, other than the Equity Shares held by its Promoters, which will be locked-in as minimum Promoters? contribution for three years, all pre-issue 32,00,000 Equity Shares shall be subject to lock-in for a period of one year from the date of Allotment in this Issue.