Disclaimer

General Disclaimer

Spark Capital Advisors India Private Limited and its affiliates which includes, Spark PWM Private Limited, Spark Fund Advisors LLP, Spark Asia Impact Private Limited, Spark Asia Impact Managers Private Limited (“Spark Group”), are engaged in multiple financial activities including but not limited to stock broking, depository participant, Portfolio Manager, Research Analyst, Investment Adviser, Alternative Investment Fund and are Spark Capital Advisors India Private Limited and its affiliates which includes, Spark PWM Private Limited, Spark Fund Advisors LLP, Spark Asia Impact Private Limited, Spark Asia Impact Managers Private Limited (“Spark Group”), are engaged in multiple financial activities including but not limited to stock broking, depository participant, Portfolio Manager, Research Analyst, Investment Adviser, Alternative Investment Fund and are regulated by SEBI. regulated by SEBI. Spark Group makes no representation or warranty, express or implied, as to the accuracy, completeness or fairness of the information and opinions contained in this document. The contents of this document are not intended to provide any advice and / or recommendation relating to taxation, legal, business or investment matters and readers are encouraged to seek professional advice on same. The information and opinion expressed in this document do not constitute an offer or an invitation to make an offer, to buy or sell any securities. This document may contain details of products/securities which are not exchange traded. Spark Group may act as a distributor of such products/securities and hence disputes arising under, out of, or in connection with the contents of this document shall not have access to exchange investor redressal or Arbitration mechanism. This document is provided / distributed by Spark Group on a strictly confidential basis for the exclusive use of the recipient and has been obtained from published information and other sources, which Spark Group or its affiliates consider to be reliable. Opinions, if any, expressed are our opinions as of the date of appearing on this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Spark Group makes no representation or warranty, express or implied, as to the accuracy, completeness or fairness of the information and opinions contained in this document. The contents of this document are not intended to provide any advice and / or recommendation relating to taxation, legal, business or investment matters and readers are encouraged to seek professional advice on same. The information and opinion expressed in this document do not constitute an offer or an invitation to make an offer, to buy or sell any securities. This document may contain details of products/securities which are not exchange traded. Spark Group may act as a distributor of such products/securities and hence disputes arising under, out of, or in connection with the contents of this document shall not have access to exchange investor redressal or Arbitration mechanism. This document is provided / distributed by Spark Group on a strictly confidential basis for the exclusive use of the recipient and has been obtained from published information and other sources, which Spark Group or its affiliates consider to be reliable. Opinions, if any, expressed are our opinions as of the date of appearing on this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Each recipient of this document should make such analysis as it deems necessary to arrive at an independent evaluation with respect to the information provided in this document and should consult their own advisors to determine the merits and risks of such information. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future results. Registration with SEBI and certification from NISM in no way guarantee performance or provide any assurance of returns to investors. This document is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, copied, in whole or in part, for any purpose. This document is not directed or intended for distribution to or use by any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Spark Group to any registration or licensing requirement within such jurisdiction. Persons in whose possession this document may come are required to inform themselves of and to observe such applicable restrictions. An investment in Capital Securities are speculative and no assurance is or can be given that the investors will receive a return of their capital. Each recipient of this document should make such analysis as it deems necessary to arrive at an independent evaluation with respect to the information provided in this document and should consult their own advisors to determine the merits and risks of such information. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future results. Registration with SEBI and certification from NISM in no way guarantee performance or provide any assurance of returns to investors. This document is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, copied, in whole or in part, for any purpose. This document is not directed or intended for distribution to or use by any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Spark Group to any registration or licensing requirement within such jurisdiction. Persons in whose possession this document may come are required to inform themselves of and to observe such applicable restrictions. An investment in Capital Securities are speculative and no assurance is or can be given that the investors will receive a return of their capital. This document has been prepared and dependent entirely on the information, which is already available in publicly accessible media, without independent verification on the accuracy and completeness of the information. All valuation amounts or opinions as to valuation and other financial parameters (if any) specified herein are only indicative and are not intended to be relied upon as a certificate of valuation of the Company, a fairness opinion or any certification or opinion of Spark Group on the fair value or valuation of the Company and may not be used as such by the Company or any Recipient or any other person for the purposes of any law or regulation, including the Companies Act, 2013, SEBI regulations or foreign exchange regulations. The securities quoted, if any, are for illustration purposes only and are not recommendatory in nature. This document has been prepared and dependent entirely on the information, which is already available in publicly accessible media, without independent verification on the accuracy and completeness of the information. All valuation amounts or opinions as to valuation and other financial parameters (if any) specified herein are only indicative and are not intended to be relied upon as a certificate of valuation of the Company, a fairness opinion or any certification or opinion of Spark Group on the fair value or valuation of the Company and may not be used as such by the Company or any Recipient or any other person for the purposes of any law or regulation, including the Companies Act, 2013, SEBI regulations or foreign exchange regulations. The securities quoted, if any, are for illustration purposes only and are not recommendatory in nature. All third-party logos / icons referenced by the Company remain the property of their respective owners solely. Any such reference herein by the Company is only to identify the relevant entity / organisation and shall be considered honest and fair use under the IP laws. Neither Spark Group nor their respective directors, employees, agents or representatives shall be responsible or liable in any manner, directly or indirectly, for views or opinions expressed in this document or the contents or any errors or discrepancies herein or for any decisions or actions taken by relying on the document or the inability to use or access our service or for any loss or damages whether direct or indirect, incidental, special or consequential including without limitation loss of revenue or profits that may arise from or in connection with the use of or reliance on this document.

Spark Group are engaged in various financial services activities which may involve potential conflicts of interest. For instance, our firm or its associates may:

(a) have financial interests in securities mentioned;

(b) from time to time, buy or sell the securities mentioned; and

(c) provide or seek to provide broking, investment banking, or other services to the companies mentioned. The information, opinions and material provided herein are subject to change without any prior notice. Spark Group may provide services of linked sites to the users herein, however it will not be responsible for the contents of such linked sites, neither it endorses the content of the linked sites nor to the services provided by such sites. For Important Regulatory Information pertaining to the Spark Group Entities please visit – https://sparkcapital.in For any queries, please reach out to marketing.communications@sparkcapital.in