Certain Equity Shares of Paradeep Phosphates Limited are subject to a Lock-Up Agreement Ending on 20-MAY-2023. These Equity Shares will be under lockup for 365 days starting from 20-MAY-2022 to 20-MAY-2023.

Details:
Pursuant to Regulation 14(1) and Regulation 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 considered as minimum promoters' contribution and locked-in for a period of three years from the date of Allotment. The company Promoters have given consent to include such number of Equity Shares held by them as may constitute 20% of the fully diluted post-Offer equity share capital of the Company as the Promoters' Contribution. The Promoters have agreed not to sell, transfer, charge, pledge or otherwise encumber in any manner, the Promoters' Contribution from the date of filing of this Draft Red Herring Prospectus, until the expiry of the lock-in period specified above, or for such other time as required under SEBI ICDR Regulations, except as may be permitted, in accordance with the SEBI ICDR Regulations.

In addition to Promoters' Contribution locked in for three years as specified above, and pursuant to Regulation 17 of the SEBI ICDR Regulations, the entire pre-Offer equity share capital of the Company will be locked in for a period of one year from the date of Allotment, except for the Equity Shares transferred in the Offer.