Kesoram Industries Limited announced at the board meeting held on March 28, 2024, approved issue of Rupee denominated, unrated, unlisted, secured, redeemable, non-convertible debentures ("NCDs") up to INR 3200 million on private placement basis. Date of allotment:­ To be decided. Date of maturity -10 yrs from the date of allotment.

Coupon/Interest - 11.25% per annum. Coupon Type - Floating. Payment ­ Monthly.

Charge/security, if any, created over the assets: present pari passu charge on all present and future fixed assets of cement business excluding assets worth of INR 1300 million; Second Pari Passu charge on current assets of cement business, both present and future. Debenture Holders have the right to require a mandatory redemption of the Debentures at the end of 24 months and every 6 months thereafter. 2.00% p.a. over and above the normal Interest rate shall be charged in case of delayed payment of Coupon, Principal or monies payable under the Debenture Documents from the due date till the date of receipt.

Debentures shall be redeemed on a pro rata basis as to be set out in the redemption schedule and shall be fully redeemed by the Final Redemption Date.