e.

Inappropriate bid as a bidder cannot make a bid for more than Ten Percent of the shares
allocated under the Book Building Portion (i.e., 7.5 Million Shares).
f. Appropriate and Legitimate bid as a bidder can make series of limit bids i.e., step bid,
which shall be at increasing prices provided that Bid Amount of step is not less than
One Million Rupees under the Book Building Method.
g. A bidder cannot withdraw his bid in any case as per point (vii) of sub regulation (2)
of regulation 10 of Public Offering Regulations, 2017.
h. Inappropriate as consolidated bid is not allowed as per point (iv) of sub regulation (2)
of regulation 10 of Public Offering Regulations, 2017.
i. As per part 4 of regulation 7 of Public Offering Regulations, 2017, the strike price shall
be the price at which the hundred percent of the offer size is subscribed. Therefore, the
strike price in this case is 32.

CFAP-02 Corporate Laws Aamir Shahbaz, FCA