SPECIFIC IPO TERMS

The following terms are to be read with the financial terms for credit provided on the Lender’s Website (“Specific IPO Details”) and are the most critical terms and conditions to be understood and accepted by the Borrower to avail this funding. Kindly do note the terms of the Specific IPO Details or take a copy of the screen if you require a record for reference or personal use. By applying for and availing this funding, you acknowledge and accept these terms along with the Specific IPO Details.

These terms along with the Specific IPO Details shall at all times be in addition to, subject to and read in conjunction with the Terms and Conditions for the IPO Facility, that have already been accepted by the Borrower and made available to the Borrower on the registered electronic mail address (“T&C”).

For ease of reference the T&Cs, Please click here

Summary of critical Terms:

No.TermExplanation
1. Securities Securities of the company going for the IPO.
2. Credit Limit The aggregate credit limit for this IPO to the Borrower as made available by the Lender under Specific IPO Details.
3. Borrower Contribution A sum aggregating to 50% (Fifty Percent) of the cost for purchase of the proposed number of Securities shall be contributed by the Borrower from its own resources lying in the Bank Account.
4. Repayment Date Date prior to the Listing Date for the Securities.
5. Interest Rate

Interest at the rate indicated in the Specific IPO Details, shall computed on the basis of actual number of days elapsed from the date the Borrower applies and avails the Funding Amount (date included) till the Repayment Date (date including).

The interest so calculated shall be lien marked upfront and the amount shall be deducted from the Borrower’s Bank Account basis this request for availing the Funding Amount on such terms as indicated in the T&Cs.

6. Fees

The amount payable as processing fee, costs etc. is as indicated in the Specific IPO Details.

The Fee so calculated shall be lien marked upfront and the amount shall be deducted from the Borrower’s Bank Account basis this request for availing the Funding Amount.

7. Default Interest Rate In the event the Funding Amount is not repaid on the Repayment Date additional interest shall be chargeable at the rate provided on the Specific IPO Details, computed on the basis of actual number of days elapsed, till the Lender has received the entire Outstanding Dues from the Borrower or from the sale of Specified Securities.
8. Security Security Interest over the Specified Securities.
THE BORROWER IS HEREBY PUT TO NOTICE that the nature of the facility is such that the Lender shall have the right to create, sell, transfer or dispose the Specified Securities (including associated rights) or Security Interest as attorney holder or as Lender, at the start of business on the Listing Date, WITHOUT THE REQUIREMENT OF ANY SEPARATE NOTICE OF DEFAULT OR SALE. The Borrower acknowledges and agrees to such notice as reasonable.
9. Bid Revision Terms Once the Funding Amount has been drawn, the amount cannot be increased or decreased from the IPO Loan Facility until the IPO is over.
In case the Borrower revises the bid for the specific IPO:
  1. All increased amounts for subscription of the Securities shall be from the Borrower’s Bank Account and subject to availability of funds in the Bank Account; and
  2. Any decrease in the amounts required for subscription of the Securities shall not reduce the credit availed and the Funding Amount will stay constant, even if Funding Amount is greater than the total revised amounts required for subscription of Securities.