8/9/2019 Notice Number

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NOTICES

Notice No. 20190809-7 Notice Date 09 Aug 2019

Category Company related Segment Debt

Subject Update Regarding debt securities of NRSS XXXI(B) Transmission Limited

Attachments Annexure I.pdf ; Annexure II.pdf ; Annexure III.pdf ;

Content

In continuation to the Exchange Notice No. 20190528-2 dated 28 May 2019 regarding debt securities of NRSS XXXI(B) Transmission Limited.Trading Members are requested to note there is:

1. Partial Redemption of Debentures as mentioned in Annexure I &;

2. Restructuring in the existing Terms & Conditions of the Debentures as mentioned in Annexure II and Annexure III;

Pertaining to the aforementioned modifications, w.e.f. Tuesday, August 13, 2019 the Scrip Codes mentioned in Annexure II would be available fortrading under the revised terms as mentioned therein and Annexure III with reduced quantity as mentioned in Annexure I.

Trading Members may contact the following Officials for further details if any:

Name of the Officer Contact details Email Id

Ms. Shelly Bisht +91 22 2272 5753 debt.listing@bseindia.com

Rupal Khandelwal

Manager

August 09, 2019

Scrip Codes Existing Securities Remaining Securities after Partial Redemption956958 40 37956959 40 37956960 50 40956962 50 40956963 50 40956964 50 43956966 50 43956967 50 43956968 50 46956969 54 46956970 50 44956971 50 44956972 50 45956974 60 44956976 60 57956977 65 53956978 60 53956980 70 62956981 62 55956982 70 62956983 70 62956984 70 66956985 79 62956986 70 62956987 70 62956988 70 67956989 76 71956990 80 65956991 70 68956992 80 68956993 76 68956994 80 68956996 80 71956997 76 71956998 80 71957000 80 77957001 83 77957002 80 77957006 90 80957008 90 86957009 94 86957010 90 86957011 90 43957012 100 48957013 91 73957014 100 48957015 100 95957016 100 95957017 108 95957018 100 95957021 108 101957036 130 127957037 272 267

Annexure I

BSE - INTERNAL

Scrip

CodesExisting ISIN Revised ISIN

Remaining

Quantity

Interest

Rate

Revised

Interest

Rate

Existing Scrip Long Name Revised Scrip Long Name Existing Scrip ID Revised Scrip IDExisting Abbrv

Name

Revised Abbrv

Name

956958 INE163R08082 INE163R08892 37 7.87 8.34 NRSS-7.87-30-6-19-PVT NRSS-8.34%-30-9-19-PVT 787NRSS19B 834NRSS19 787NRSS19B 834NRSS19

956959 INE163R08090 INE163R08900 37 7.87 8.34 NRSS-7.87%-31-12-19-PVT NRSS-8.34%-31-12-19-PVT 787NRSS19C 834NRSS19A 787NRSS19C 834NRSS19A

956960 INE163R08108 INE163R08918 40 7.87 8.34 NRSS-7.87%-31-3-20-PVT NRSS-8.34%-31-3-20-PVT 787NRSS20 834NRSS20 787NRSS20 834NRSS20

956961 INE163R08116 INE163R08926 37 7.87 8.34 NRSS-7.87%-30-6-20-PVT NRSS-8.34%-30-6-20-PVT 787NRSS20A 834NRSS20A 787NRSS20A 834NRSS20A

956962 INE163R08124 INE163R08934 40 7.87 8.34 NRSS-7.87%-30-9-20-PVT NRSS-8.34%-30-9-20-PVT 787NRSS20B 834NRSS20B 787NRSS20B 834NRSS20B

956963 INE163R08132 INE163R08942 40 7.87 8.34 NRSS-7.87%-31-12-20-PVT NRSS-8.34%-31-12-20-PVT 787NRSS20C 834NRSS20C 787NRSS20C 834NRSS20C

956964 INE163R08140 INE163R08959 43 7.87 8.34 NRSS-7.87%-31-3-21-PVT NRSS-8.34%-31-3-21-PVT 787NRSS21 834NRSS21 787NRSS21 834NRSS21

956965 INE163R08157 INE163R08967 37 7.87 8.52 NRSS-7.87%-30-6-21-PVT NRSS-8.52%-30-6-21-PVT 787NRSS21A 852NRSS21 787NRSS21A 852NRSS21

956966 INE163R08165 INE163R08975 43 7.87 8.52 NRSS-7.87%-30-9-21-PVT NRSS-8.52%-30-9-21-PVT 787NRSSB21C 852NRSS21A 787NRSSB21C 852NRSS21A

956967 INE163R08173 INE163R08983 43 7.87 8.52 NRSS-7.87%-31-12-21-PVT NRSS-8.52%-31-12-21-PVT 787NRSS21C 852NRSS21B 787NRSS21C 852NRSS21B

956968 INE163R08181 INE163R08991 46 7.87 8.52 NRSS-7.87-31-3-22-PVT NRSS-8.52-31-3-22-PVT 787NRSS22 852NRSS22 787NRSS22 852NRSS22

956969 INE163R08199 INE163R08AA7 46 7.87 8.52 NRSS-7.87%-30-6-22-PVT NRSS-8.52%-30-6-22-PVT 787NRSS22A 852NRSS22A 787NRSS22A 852NRSS22A

956970 INE163R08207 INE163R08AB5 44 7.87 8.52 NRSS-7.87%-30-9-22-PVT NRSS-8.52%-30-9-22-PVT 787NRSS22B 852NRSS22B 787NRSS22B 852NRSS22B

956971 INE163R08215 INE163R08AC3 44 8 9.18 NRSS-8-31-12-22-PVT NRSS-9.18%-31-12-22-PVT 8NRSS22 918NRSS22 8NRSS22 918NRSS22

956972 INE163R08223 INE163R08AD1 45 8 9.18 NRSS-8%-31-3-23-PVT NRSS-9.18%-31-3-23-PVT 8NRSS23 918NRSS23 8NRSS23 918NRSS23

956973 INE163R08231 INE163R08AE9 51 8 9.18 NRSS-8%-30-6-23-PVT NRSS-9.18%-30-6-23-PVT 8NRSS23A 918NRSS23A 8NRSS23A 918NRSS23A

956974 INE163R08249 INE163R08AF6 44 8 9.18 NRSS-8%-30-09-23-PVT NRSS-9.18%-30-09-23-PVT 8NRSS23B 918NRSS23B 8NRSS23B 918NRSS23B

956975 INE163R08256 INE163R08AG4 50 8 9.18 NRSS-8%-31-12-23-PVT NRSS-9.18%-31-12-23-PVT 8NRSS23C 918NRSS23C 8NRSS23C 918NRSS23C

956976 INE163R08264 INE163R08AH2 57 8 9.18 NRSS-8%-31-03-24-PVT NRSS-9.18%-31-03-24-PVT 8NRSS24 918NRSS24 8NRSS24 918NRSS24

956977 INE163R08272 INE163R08AI0 53 8 9.18 NRSS-8%-30-6-24-PVT NRSS-9.18%-30-6-24-PVT 8NRSS24A 918NRSS24A 8NRSS24A 918NRSS24A

956978 INE163R08280 INE163R08AJ8 53 8 9.18 NRSS-8%-30-9-24-PVT NRSS-9.18%-30-9-24-PVT 8NRSS24B 918NRSS24B 8NRSS24B 918NRSS24B

956979 INE163R08298 INE163R08AK6 60 8 9.18 NRSS-8%-31-12-24-PVT NRSS-9.18%-31-12-24-PVT 8NRSS24C 918NRSS24C 8NRSS24C 918NRSS24C

956980 INE163R08306 INE163R08AL4 62 8 9.18 NRSS-8%-31-3-25-PVT NRSS-9.18%-31-3-25-PVT 8NRSS25 918NRSS25 8NRSS25 918NRSS25

956981 INE163R08314 INE163R08AM2 55 8 9.18 NRSS-8%-30-6-25-PVT NRSS-9.18%-30-6-25-PVT 8NRSS25A 918NRSS25A 8NRSS25A 918NRSS25A

956982 INE163R08322 INE163R08AN0 62 8 9.18 NRSS-8%-30-9-25-PVT NRSS-9.18%-30-9-25-PVT 8NRSS25B 918NRSS25B 8NRSS25B 918NRSS25B

956983 INE163R08330 INE163R08AO8 62 8 9.18 NRSS-8%-31-12-25-PVT NRSS-9.18%-31-12-25-PVT 8NRSS25C 918NRSS25C 8NRSS25C 918NRSS25C

956984 INE163R08348 INE163R08AP5 66 8 9.18 NRSS-8%-31-3-26-PVT NRSS-9.18%-31-3-26-PVT 8NRSS26 918NRSS26 8NRSS26 918NRSS26

956985 INE163R08355 INE163R08AQ3 62 8 9.18 NRSS-8%-30-6-26-PVT NRSS-9.18%-30-6-26-PVT 8NRSS26A 918NRSS26A 8NRSS26A 918NRSS26A

956986 INE163R08363 INE163R08AR1 62 8 9.18 NRSS-8%-30-9-26-PVT NRSS-9.18%-30-9-26-PVT 8NRSS26B 918NRSS26B 8NRSS26B 918NRSS26B

956987 INE163R08371 INE163R08AS9 62 8 9.18 NRSS-8%-31-12-26-PVT NRSS-9.18%-31-12-26-PVT 8NRSS26C 918NRSS26C 8NRSS26C 918NRSS26C

956988 INE163R08389 INE163R08AT7 67 8 9.18 NRSS-8%-31-3-27-PVT NRSS-9.18%-31-3-27-PVT 8NRSS27 918NRSS27 8NRSS27 918NRSS27

956989 INE163R08397 INE163R08AU5 71 8 9.18 NRSS-8%-30-6-27-PVT NRSS-9.18%-30-6-27-PVT 8NRSS27A 918NRSS27A 8NRSS27A 918NRSS27A

956990 INE163R08405 INE163R08AV3 65 8 9.18 NRSS-8%-30-9-27-PVT NRSS-9.18%-30-9-27-PVT 8NRSS27B 918NRSS27B 8NRSS27B 918NRSS27B

956991 INE163R08413 INE163R08AW1 68 8.28 9.18 NRSS-8.28%-31-12-27-PVT NRSS-9.18%-31-12-27-PVT 828NRSS27 918NRSS27C 828NRSS27 918NRSS27C

956992 INE163R08421 INE163R08AX9 68 8.28 9.18 NRSS-8.28%-31-3-28-PVT NRSS-9.18%-31-3-28-PVT 828NRSS28 918NRSS28 828NRSS28 918NRSS28

956993 INE163R08439 INE163R08AY7 68 8.28 9.18 NRSS-8.28%-30-6-28-PVT NRSS-9.18%-30-6-28-PVT 828NRSS28A 918NRSS28A 828NRSS28A 918NRSS28A

956994 INE163R08447 INE163R08AZ4 68 8.28 9.18 NRSS-8.28%-30-9-28-PVT NRSS-9.18%-30-9-28-PVT 828NRSS28B 918NRSS28B 828NRSS28B 918NRSS28B

956995 INE163R08454 INE163R08BA5 70 8.28 9.18 NRSS-8.28%31-12-28-PVT NRSS-9.18%-31-12-28-PVT 828NRSS28C 918NRSS28C 828NRSS28C 918NRSS28C

956996 INE163R08462 INE163R08BB3 71 8.28 9.18 NRSS-8.28%-31-3-29-PVT NRSS-9.18%-31-3-29-PVT 828NRSS29 918NRSS29 828NRSS29 918NRSS29

956997 INE163R08470 INE163R08BC1 71 8.28 9.18 NRSS-8.28%-30-6-29-PVT NRSS-9.18%-30-6-29-PVT 828NRSS29A 918NRSS29A 828NRSS29A 918NRSS29A

956998 INE163R08488 INE163R08BD9 71 8.28 9.18 NRSS-8.28%-30-9-29-PVT NRSS-9.18%-30-9-29-PVT 828NRSS29B 918NRSS29B 828NRSS29B 918NRSS29B

956999 INE163R08496 INE163R08BE7 70 8.28 9.18 NRSS-8.28%-31-12-29-PVT NRSS-9.18%-31-12-29-PVT 828NRSS29C 918NRSS29C 828NRSS29C 918NRSS29C

Annexure II

Scrip

CodesExisting ISIN Revised ISIN

Remaining

Quantity

Interest

Rate

Revised

Interest

Rate

Existing Scrip Long Name Revised Scrip Long Name Existing Scrip ID Revised Scrip IDExisting Abbrv

Name

Revised Abbrv

Name

Annexure II

957000 INE163R08504 INE163R08BF4 77 8.28 9.18 NRSS-8.28%-31-3-30-PVT NRSS-9.18%-31-3-30-PVT 828NRSS30 918NRSS30 828NRSS30 918NRSS30

957001 INE163R08512 INE163R08BG2 77 8.28 9.18 NRSS-8.28%-30-6-30-pvt NRSS-9.18%-30-6-30-pvt 828NRSS30A 918NRSS30A 828NRSS30A 918NRSS30A

957002 INE163R08520 INE163R08BH0 77 8.28 9.18 NRSS-8.28%-30-9-30-PVT NRSS-9.18%-30-9-30-PVT 828NRSS30B 918NRSS30B 828NRSS30B 918NRSS30B

957003 INE163R08538 INE163R08BI8 80 8.28 9.18 NRSS-8.28%-31-12-30-PVT NRSS-9.18%-31-12-30-PVT 828NRSS30C 918NRSS30C 828NRSS30C 918NRSS30C

957004 INE163R08546 INE163R08BJ6 80 8.28 9.18 NRSS-8.28%-31-3-31-PVT NRSS-9.18%-31-3-31-PVT 828NRSS31 918NRSS31 828NRSS31 918NRSS31

957005 INE163R08553 INE163R08BK4 80 8.28 9.18 NRSS-8.28%-30-6-31-PVT NRSS-9.18%-30-6-31-PVT 828NRSS31A 918NRSS31A 828NRSS31A 918NRSS31A

957006 INE163R08561 INE163R08BL2 80 8.28 9.18 NRSS-8.28%-30-9-31-PVT NRSS-9.18%-30-9-31-PVT 828NRSS31B 918NRSS31B 828NRSS31B 918NRSS31B

957007 INE163R08579 INE163R08BM0 80 8.28 9.18 NRSS-8.28%-31-12-31-PVT NRSS-9.18%-31-12-31-PVT 828NRSS31C 918NRSS31C 828NRSS31C 918NRSS31C

957008 INE163R08587 INE163R08BN8 86 8.28 9.18 NRSS-8.28%-31-3-32-PVT NRSS-9.18%-31-3-32-PVT 828NRSS32 918NRSS32 828NRSS32 918NRSS32

957009 INE163R08595 INE163R08BO6 86 8.28 9.18 NRSS-8.28%-30-6-32-PVT NRSS-9.18%-30-6-32-PVT 828NRSS32A 918NRSS32A 828NRSS32A 918NRSS32A

957010 INE163R08603 INE163R08BP3 86 8.28 9.18 NRSS-8.28-30-09-32-PVT NRSS-9.18-30-09-32-PVT 828NRSS32B 918NRSS32B 828NRSS32B 918NRSS32B

957011 INE163R08611 INE163R08BQ1 43 8.52 9.18 NRSS-8.52%-31-12-32-PVT NRSS-9.18%-31-12-32-PVT 852NRSS32 918NRSS32C 852NRSS32 918NRSS32C

957012 INE163R08629 INE163R08BR9 48 8.52 9.18 NRSS-8.52%-31-3-33-PVT NRSS-9.18%-31-3-33-PVT 852NRSS33 918NRSS33 852NRSS33 918NRSS33

957013 INE163R08637 INE163R08BS7 73 8.52 9.18 NRSS-8.52%-30-6-33-PVT NRSS-9.18%-30-6-33-PVT 852NRSS33A 918NRSS33A 852NRSS33A 918NRSS33A

957014 INE163R08645 INE163R08BT5 48 8.52 9.18 NRSS-8.52%-30-9-33-PVT NRSS-9.18%-30-9-33-PVT 852NRSS33B 918NRSS33B 852NRSS33B 918NRSS33B

957015 INE163R08652 INE163R08BU3 95 8.52 9.18 NRSS-8.52%-31-12-33-PVT NRSS-9.18%-31-12-33-PVT 852NRSS33C 918NRSS33C 852NRSS33C 918NRSS33C

957016 INE163R08660 INE163R08BV1 95 8.52 9.18 NRSS-8.52%-31-3-34-PVT NRSS-9.18%-31-3-34-PVT 852NRSS34 918NRSS34 852NRSS34 918NRSS34

957017 INE163R08678 INE163R08BW9 95 8.52 9.18 NRSS-8.52%-30-6-34-PVT NRSS-9.18%-30-6-34-PVT 852NRSS34A 918NRSS34A 852NRSS34A 918NRSS34A

957018 INE163R08686 INE163R08BX7 95 8.52 9.18 NRSS-8.52%-30-9-34-PVT NRSS-9.18%-30-9-34-PVT 852NRSS34B 918NRSS34B 852NRSS34B 918NRSS34B

957019 INE163R08694 INE163R08BY5 100 8.52 9.18 NRSS-8.52%-31-12-34-PVT NRSS-9.18%-31-12-34-PVT 852NRSS34C 918NRSS34C 852NRSS34C 918NRSS34C

957020 INE163R08702 INE163R08BZ2 100 8.52 9.18 NRSS-8.52%-31-3-35-PVT NRSS-9.18%-31-3-35-PVT 852NRSS35 918NRSS35 852NRSS35 918NRSS35

957021 INE163R08710 INE163R08CA3 101 8.52 9.18 NRSS-8.52%-30-6-35-PVT NRSS-9.18%-30-6-35-PVT 852NRSS35A 918NRSS35A 852NRSS35A 918NRSS35A

957022 INE163R08728 INE163R08CB1 100 8.52 9.18 NRSS-8.52%-30-9-35-PVT NRSS-9.18%-30-9-35-PVT 852NRSS35B 918NRSS35B 852NRSS35B 918NRSS35B

957023 INE163R08736 INE163R08CC9 100 8.52 9.18 NRSS-8.52%-31-12-35-PVT NRSS-9.18%-31-12-35-PVT 852NRSS35C 918NRSS35C 852NRSS35C 918NRSS35C

957024 INE163R08744 INE163R08CD7 100 8.52 9.18 NRSS-8.52%-31-3-36-PVT NRSS-9.18%-31-3-36-PVT 852NRSS36 918NRSS36 852NRSS36 918NRSS36

957025 INE163R08751 INE163R08CE5 108 8.52 9.18 NRSS-8.52%-30-6-36-PVT NRSS-9.18%-30-6-36-PVT 852NRSS36A 918NRSS36A 852NRSS36A 918NRSS36A

957026 INE163R08769 INE163R08CF2 100 8.52 9.18 NRSS-8.52%-30-9-36-PVT NRSS-9.18%-30-9-36-PVT 852NRSS36B 918NRSS36B 852NRSS36B 918NRSS36B

957027 INE163R08777 INE163R08CG0 100 8.52 9.18 NRSS-8.52%-31-12-36-PVT NRSS-9.18%-31-12-36-PVT 852NRSS36C 918NRSS36C 852NRSS36C 918NRSS36C

957028 INE163R08785 INE163R08CH8 100 8.52 9.18 NRSS-8.52%-31-3-37-PVT NRSS-9.18%-31-3-37-PVT 852NRSS37 918NRSS37 852NRSS37 918NRSS37

957029 INE163R08793 INE163R08CI6 108 8.52 9.18 NRSS-8.52%-30-6-37-PVT NRSS-9.18%-30-6-37-PVT 852NRSS37A 918NRSS37A 852NRSS37A 918NRSS37A

957030 INE163R08801 INE163R08CJ4 100 8.52 9.18 NRSS-8.52%-30-9-37-PVT NRSS-9.18%-30-9-37-PVT 852NRSS37B 918NRSS37B 852NRSS37B 918NRSS37B

957031 INE163R08819 INE163R08CK2 100 8.52 9.18 NRSS-8.52%-31-12-37-PVT NRSS-9.18%-31-12-37-PVT 852NRSS37C 918NRSS37C 852NRSS37C 918NRSS37C

957032 INE163R08827 INE163R08CL0 100 8.52 9.18 NRSS-8.52%-31-3-38-PVT NRSS-9.18%-31-3-38-PVT 852NRSS38 918NRSS38 852NRSS38 918NRSS38

957033 INE163R08835 INE163R08CM8 120 8.52 9.18 NRSS-8.52%-30-6-38-PVT NRSS-9.18%-30-6-38-PVT 852NRSS38A 918NRSS38A 852NRSS38A 918NRSS38A

957034 INE163R08843 INE163R08CN6 130 8.52 9.18 NRSS-8.52%-30-9-38-PVT NRSS-9.18%-30-9-38-PVT 852NRSS38B 918NRSS38B 852NRSS38B 918NRSS38B

957035 INE163R08850 INE163R08CO4 130 8.52 9.18 NRSS-8.52%-31-12-38-PVT NRSS-9.18%-31-12-38-PVT 852NRSS38C 918NRSS38C 852NRSS38C 918NRSS38C

957036 INE163R08868 INE163R08CP1 127 8.52 9.18 NRSS-8.52%-31-3-39-PVT NRSS-9.18%-31-3-39-PVT 852NRSS39 918NRSS39 852NRSS39 918NRSS39

957037 INE163R08876 INE163R08CQ9 267 8.52 9.18 NRSS-8.52%-30-6-39-PVT NRSS-9.18%-30-6-39-PVT 852NRSS39A 918NRSS39A 852NRSS39A 918NRSS39A

BSE - PUBLIC

BSE - PUBLIC

Annexure III

Modifications in the Financing Documents of the Non-Convertible Debentures (“NCDs”) of Rs.680 Crore issued by NRSS XXXI(B) Transmission Limited ("NRSSTL" or “Issuer”), subject to the change in the Sponsor and Management Control of NRSSTL from Essel Infraprojects Limited (“EIL”) to Sekura Energy Limited (“SEL”).

N

o.

Docume

nt &

Clause

Existing Clause Proposed Modification of Terms

1 DTD;

Clause

no.21.2.1

(a)(i)

(Negativ

e

Covenan

ts)

The Issuer shall not without the prior

written consent of the Debenture

Holders effect or agree to effect any

material change in its Memorandum

and Articles in any manner

NRSS XXXI(B) Transmission

Limited (“NRSSTL” or “Issuer”) to

make necessary amendments to its

Memorandum and Articles of

Association, which will be required

as part of the stake acquisition by

Sekura Energy Limited (“SEL” or

“Proposed Sponsor”), as also any

infusion of additional funds into

NRSSTL by way of Optionally

Convertible Debenturess/Non-

Convertible Debentures etc. by

SEL/Edelweiss Infrastructure Yield

Plus Fund (“EIYPF”) or other entities

into NRSSTL.

2 Part

Early

Redempt

ion of

NCDs

Existing Redemption Schedule as

per DTD provided in Annexure II.

Revised Redemption Schedule after

considering the part early

redemption of Rs.52.50 Crore is

provided in Annexure II.

3 DTD; Clause no. 3.16 (Credit Rating)

Issuer to procure and submit to the

Debenture Trustee, credit rating

from a reputed Credit Rating

Agency of at least ‘AAA’ prior to the

Deemed Date of Allotment.

The Issuer shall procure and submit

to the Debenture Trustee, credit

rating from a reputed Credit Rating

Agency of at least ‘AAA(SO)’ or

‘AAA’ from two Credit Rating

Agencies i.e. CRISIL, ICRA, Care,

India Rating.

4 Terms of Coupon

Seri

es

Coup

on

Rate

p.a.p

.q.

Coupon

Rate

(annuali

zed)

Coupo

n

Payme

nt

Freque

ncy

I 7.87

%

8.11% Quarte

rly

II 8.00

%

8.24% Quarterly

Seri

es

Coupo

n Rate

p.a.p.q

.

Coupon

Rate

(annuali

zed)

Coupo

n

Payme

nt

Freque

ncy

I STRPPs (first 2 years from Closin

STRPPs (first 2 years from Closing) - 8.60%

Quarte

rly

BSE - PUBLIC

BSE - PUBLIC

N

o.

Docume

nt &

Clause

Existing Clause Proposed Modification of Terms

III 8.28

%

8.54% Quarterly

IV 8.52

%

8.80% Quarterly

g) - 8.34% Remai

ning

STRP

Ps –

8.52%

Remaini

ng

STRPP

s –

8.80%

II 9.18% 9.50% Quarterly

III 9.18% 9.50% Quarterly

IV 9.18% 9.50% Quarterly

5 DTD;

Clause

no. 1.1

(Definitio

ns)

“Additional DSR” or “Additional Debt

Service Reserve” shall mean

reserve to be created and

maintained in the following manner

in accordance with the terms of this

Deed:

Additional DSRA to be

created in Financial Year

Additional

DSRA (Rs. Cr)

FY 20 5

FY 21 5

FY 22 5

FY 23 5

FY 24 5

“Additional DSR” or “Additional Debt

Service Reserve” shall mean

reserve to be created and

maintained in the following manner

in accordance with the terms of this

Deed:

.

Additional DSR to be

created in Financial Year

Additional DSR

(Rs. Cr)

FY 31 4

FY 32 5

FY 33 7

FY 34 7

FY 35 2

6 DTD;

Clause

no.

21.1.26

(Underta

kings by

the

Sponsor)

The Issuer shall provide the

following undertakings from the

Sponsor in a form and manner

acceptable to the Debenture

Holders:

(i) It shall, at all times till the Final

Settlement Date, hold and

maintain at least 51% (fifty one

percent) of the Equity Share

Capital of the Issuer except as

permitted by the Debenture

Trustee in writing;

(ii) It shall, at all times till the Final

Settlement Date, retain the

Management Control of the

Issuer except as permitted by the

Debenture Trustee in writing;

The Issuer shall provide the

following undertakings from the

Sponsor in a form and manner

acceptable to the Debenture

Holders:

(i) It shall till the Final Settlement

Date, hold and maintain at least

51% (fifty one percent) of the

Equity Share Capital of the Issuer

after acquisition by the Sponsor

of more than 51%of51% (fifty one

percent) of the Equity Share

Capital of the Issuer;

(ii) It shall, at all times till the Final

Settlement Date, retain the

Management Control of the

Issuer except as permitted by the

Debenture Trustee in writing.”

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(iii) It shall meet the shortfall in

servicing of the Debentures and

payment of any Secured

Obligations by the Issuer;

(iv) It shall meet the shortfall in non-

escalable revenue due to line

availability;

(v) It shall meet the shortfall in

insurance payments in case of

Force Majeure events.

(vi) It shall meet the shortfall in

maintenance of DSRA in

accordance with the terms of the

Trust and Retention Account

Agreement and shall bring in

funds to restore the DSRA with

the required DSR in the event of

utilization of amounts lying in the

DSRA;

(vii) It shall bear all liabilities arising

out of delay in Project execution

(including liquidated damages

under the Transmission Service

Agreement through its own

resources without any recourse

to the Project, Issuer or Project

assets.

7 DTD;

Clause

no. 3.12

(d)

(Early

Redempt

ion)

The Issuer shall be required to

mandatorily prepay (subject to any

approvals required, if any), the

Outstanding Amounts, in full or in

part, together with all interests,

other charges and monies due and

payable to the Debenture Holders

upto the date of such prepayment,

before the Due Dates, within 5 (five)

Business Days unless otherwise

specified in this Deed (“Mandatory

Prepayment”) in the following

events:

The Management Control or the

Sponsor ceases to hold, directly or

indirectly, at least 51% (fifty one

The Issuer shall be required to

mandatorily prepay (subject to any

approvals required, if any), the

Outstanding Amounts, in full or in

part, together with all interests, other

charges and monies due and

payable to the Debenture Holders

upto the date of such prepayment,

before the Due Dates, within 5 (five)

Business Days unless otherwise

specified in this Deed (“Mandatory

Prepayment”) in the following

events:

The Sponsor ceases to have

Management Control and the

Sponsor ceases to hold, directly or

indirectly, at least 51% (fifty one

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percent) of the shareholding of the

Issuer.

percent) of the shareholding of the

Issuer after acquisition of 51% of the

Equity Share Capital of the Issuer.

8 Voluntar

y

Redempt

ion

New clause being proposed to be

included

(i) The Issuer may, after the expiry

of fourth year from Closing,

prepay the Outstanding

Amounts, in full or in part,

together with all interests, other

charges and monies due and

payable to the Debenture

Holders upto the date of such

prepayment, before the Due

Dates, after paying a

prepayment premium of 1% (one

percent) on the amount being

prepaid (“Prepayment

Premium”).

(ii) Notwithstanding anything

contained in sub clause (i)

above, the Issuer may prepay

the Outstanding Amounts, in full

or in part, together with all

interests, other charges and

monies due and payable to the

Debenture Holders upto the date

of such prepayment, before the

Due Dates, without payment of

Prepayment Premium in the

following events:

(a) If prepayment is effected at

the instance of the

Debenture Holders in case of

an Event of Default; or

(b) If the prepayment is made

within 60 (sixty) Business

Days of each anniversary of

the Closing starting from

fourth anniversary of the

Closing, provided the Issuer

provides a prior written

notice of at least 30 (thirty)

days.

“Closing” shall mean the date on

which Sekura Energy Limited

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acquires 49% shareholding of the

Issuer and fulfills all other conditions

for closing as per the investment

agreement entered into between the

Issuer and Essel Infraprojects

Limited (“EIL” or “Existing Sponsor”)

and Sekura Energy Limited.

9 DTD;

Clause

no. 1.1

(Definitio

ns)

“Cash Trap Release Event” shall

mean the occurrence or existence

of all the following events as

certified by the Debenture Trustee:

(a) restoration of DSCR equal to or

higher than 1.10x :1 on the next

Testing Date after the DSCR

has fallen below 1.0x, provided

the DSCR was not remaining

below the stipulated value for

past 2 (two) consecutive Testing

Dates;

“Cash Trap Release Event” shall

mean the occurrence or existence of

all the following events as certified

by the Debenture Trustee:

(a) restoration of DSCR equal to or

higher than 1.10x on 2 (two)

consecutive Testing Dates;

1

0

DTD;

Clause

no.

21.1.16

(iv)

(Mainten

ance of

Accounts

/Reserve

s)

Cash Trap

The Cash Trap Account shall be

maintained throughout the Tenor of

the Debentures. The Issuer hereby

agrees and acknowledges that

upon occurrence of any of the Cash

Trap Trigger Events, the Debenture

Trustee shall have the right to

appropriate the surplus funds from

the Trust and Retention Account

under the Trust and Retention

Account Agreement and deposit the

same in the Cash Trap Account.

Such funds shall remain in the Cash

Trap Account until the occurrence of

the Cash Trap Release Event.

However, if the DSCR remains

below 1.10x on two consecutive

Testing Dates, the funds lying in the

Cash Trap shall be retained in the

Cash Trap Account until Final

Settlement Date, notwithstanding

the occurrence of Cash Trap

Release Event thereafter.

If the DSCR falls below 1.10x on two

consecutive testing dates, the entire

cash will be trapped in the Cash

Trap Account. However, Cash Trap

amount shall be released only if the

DSCR of 1.10x or above is achieved

in two consecutive testing dates.

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1

1

DTD;

Clause

no. 1.1

(Definitio

ns)

“Cash Trap Release Event” shall

mean the occurrence or existence

of all the following events as

certified by the Debenture Trustee:

(c) no Force Majeure Event

subsisting

“Cash Trap Release Event” shall

mean the occurrence or existence of

all the following events as certified

by the Debenture Trustee:

(c) no Force Majeure event

subsisting which would impact the

debt servicing by the Issuer

1

2

DTD;

Clause

no. 3.16

(Credit

Rating)

In the event the credit rating by any

Credit Rating Agency falls to “AA-

“or below, the Debenture Holders

shall have the right to increase the

Applicable Coupon Rate by 50 bps

or require the Issuer to prepay the

Outstanding Amounts in full or in

part, together with all interests,

other charges and monies due and

payable to the Debenture Holders

upto the date of such prepayment,

within 30 (thirty) days from the date

of announcement of such

downgrade in the credit rating.

In the event the credit rating of the

Issuer falls to ‘AA-‘ or lower by any

Credit Rating Agency, the Coupon

Rate shall be revised upwards by

50bps and the Issuer shall pay

Coupon at the revised Coupon Rate.

Further, in the event the credit rating

by any Credit Rating Agency falls to

“BBB+ “or below, the Debenture

Holders shall have the right to

require the Issuer to prepay the

Outstanding Amounts in full or in

part, together with all interests, other

charges and monies due and

payable to the Debenture Holders

upto the date of such prepayment,

within 30 (thirty) days from the date

of announcement of such

downgrade in the credit rating.

13

DTD; Clause no. 1.1 (Definitions)

“DSCR” or “Debt Service Coverage Ratio” shall mean on any date, in respect of any period, the ratio of (a):(b) below: (a) sum of profit after tax,

depreciation, amortization, non-cash expenses and interest on senior term debt including Coupon on Debentures and interest on working capital loan (for such period) and funds infused by the Issuer for debt servicing;

(b) sum of principal of redemption of Debentures and Coupon on Debentures (for such period).

“DSCR” or “Debt Service Coverage Ratio” shall mean on any date, in respect of any period, the ratio of (a):(b) below: (a) sum of profit after tax,

depreciation, amortization, any payment made to Sponsor, EIYPF or other related parties including any interest payment on Optionally Convertible Debentures, Non-Convertible Debentures or subordinated loans, non-cash expenses and interest on senior term debt including Coupon on Debentures and interest on working capital loan (for such period) and funds infused by the Issuer for debt servicing;

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(b) sum of principal of redemption of Debentures and Coupon on Debentures (for such period).

14

DTD; Clause no. 1.1 (Definitions)

“Potential Event of Default” shall mean any event which with the giving of notice, lapse of time, determination of materiality or fulfillment of any other applicable conditions or any combination of any of the foregoing would become an Event of Default.

Definition for Potential Event of Default to be modified, by way of which Potential Event of Default shall be declared with consent of 90% of the debenture holders.

15

DTD; Clause no.12.1 (n) (Events of Default)

One or more of the events, conditions or circumstances shall exist or shall have occurred which has or is likely to have a Material Adverse Effect.

One or more of the events, conditions or circumstances shall exist or shall have occurred which has Material Adverse Effect.

16

DTD; Clause no.12.1 (t) (Events of Default)

Existence of any Force Majeure events

Existence of any Force Majeure events which does not provide for any deemed availability

17

21.1.16 Maintenance of Accounts /Reserves

(ii) Until the Final Settlement Date, the Issuer shall create and maintain the Debt Service Reserve in the Debt Service Reserve Sub-Account in accordance with the terms of the Trust and Retention Account Agreement.

(ii) Until the Final Settlement Date, the Issuer shall create and maintain the Debt Service Reserve in the Debt Service Reserve Sub-Account in form of Cash or Bank guarantee as per the terms of the Trust and Retention Account Agreement. Bank Guarantee (“BG”) may be allowed to be provided by Issuer in lieu of cash DSRA however subject to the following conditions; 1. BG to be procured by the Sponsor. All charges (including but not limited to commission) and margin money to be borne by the Sponsor. 2. The BG facility shall have no recourse to the Project assets. 3. The BG shall be renewed at least one month prior to expiry or else the Debenture Trustee shall invoke the BG 15 days prior to its expiry and

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deposit the proceeds into the Debt Service Reserve Account.

18

DTD; Clause no. 21.2.2 (Restricted Payment)

The Issuer shall not, declare or pay any Restricted Payment, without obtaining prior written consent of the Debenture Trustee, unless the Restricted Payment Conditions have been complied with. Any Restricted Payments shall be made only once a year. Provided however that the Issuer shall not make any Restricted Payments until the redemption of the first Debenture STRPP and payment of all Secured Obligations in relation thereto to the satisfaction of the Debenture Holders.

The Issuer shall not, declare or pay any Restricted Payment, unless the Restricted Payment Conditions have been complied with.

19

Approval to infuse subordinate debt

New clause being added Infusion of subordinate debt in form of Optionally Convertible Debentures / Non-Convertible Debentures etc. by SEL / EIYPF or other entities which will be utilized towards senior debt reduction, investment, spares, rectification and vendor dues etc. within 180 days of such infusion SEL/EIYPF/Issuer to undertake that the terms of sub-debt to be as follows; a) Instrument – Optionally

Convertible Debentures/ Non-Convertible Debentures/ or any other instruments as approved by debenture holders

b) Repayment/Redemption – Post final settlement date of the NCDs. Unless the repayment is being done through restricted payments and approved by Debenture Trustee.

c) Security – Unsecured. (no charge shall be filed with ROC/MCA/CERSAI)

d) Put/Call option – NIL e) EOD clauses – No right to call

EOD. Documents for such instrument shall have no EOD clause.

f) Interest/Coupon/Dividend – No interest shall be "due and

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payable" until the final settlement date of the NCDs. Unless the interest is being paid through restricted payments and approved by Debenture Trustee.

g) Any other terms as may be decided by Lenders

h) Subordination Agreement to be executed amongst the Issuer, Sponsor, EIYPF and debenture Trustee.

i) The sub-debt shall be pledged / assigned to the Debenture Trustee except for the amounts that has been infused by the SEL/EIYPF for the early redemption of the NCDs upto Rs.52.50 Crore. However, SEL/EIYPF to undertake that the sub-debt upto Rs.52.50 Crore shall not be encumbered to any person until the final settlement date of the NCDs.

j) Optionally Convertible Debentures / Non-Convertible Debentures provider to confirm by way of undertaking that the terms of the Optionally Convertible Debentures / Non-Convertible Debentures shall not be modified without prior consent of Debenture Trustee

k) Optionally Convertible Debentures / Non-Convertible Debentures provider undertaking shall specifically mention that in case of inconsistency between the terms of the OCD document and the undertaking, the undertaking shall prevail.

l) Issuer to be a confirming party to the undertaking.

20

Permitted Financial Indebtedness

New clause being added any additional debt (including in the

form of optionally convertible

debentures/ non-convertible

debentures) from the Sponsor/

Edelweiss Infrastructure Yield Plus

Fund or any other entity, provided

such debt shall always be

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subordinate to the Debentures and

any coupon/ distributions in relation

to the same shall be made only after

meeting the Restricted Payment

Conditions.

SEL/EIYPF/Issuer to undertake that the terms of sub-debt to be as mentioned in point 19 above.

21

Trust and Retention Account Agreement; Clause no. 9 (h)

The Issuer undertakes to each of

the Debenture Holders and the

Debenture Trustee that so long as

any sum is or may become payable

under any Debenture Documents,

the Issuer shall:

(h) The Issuer shall not open any

other account in any bank without

the prior approval of the Debenture

Trustee.

Allow to open bank account with

Account Bank (Axis Bank) to receive

credit of subordinate debt

(Optionally Convertible Debentures /

Non-Convertible Debentures)

The Issuer to undertake that no

other credits to be allowed in the

bank account other than the

subscription money. Issuer to also

undertake subscription money as

received shall be utilised only for the

specific purposes viz. early

redemption of NCDs upto an amount

of Rs.52.50 Crore, settlement of

outstanding trade payables of the

Issuer, purchases of

spares/inventories and any other

purposes as approved by Debenture

Trustee.

Issuer to close the said account

within 210 days from the date of

receipt of the subscription money.

22

Effective Date of modifications in the financing documents

NA All the above modifications in the

financing documents (wherever

applicable) will be effective from the

date of Closing.

“Closing” shall mean the date on

which Sekura Energy Limited

acquires 49% shareholding of the

Issuer and fulfills all other conditions

for closing as per the investment

agreement entered into between the

Issuer and Essel Infraprojects

Limited and Sekura Energy Limited.

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23

Modifications in the other financing documents

Proposed modifications to be done

in the other financing documents.

24

Additional Pledge by Sponsor

New clause being added In the event SEL proposes to create

second charge on the equity shares

of NRSSTL held by EIL, SEL shall

pledge additional equity shares of

NRSSTL held by itself in favour of

the Debenture Trustee equivalent to

the equity shares it proposes to

create second charge on, prior to

creation of the said second charge.

This shall be done to ensure that

debenture-holders have, at all times,

clear and unhindered charge over

51% of equity shares of NRSSTL.

For instance, in case SEL proposes

to create second charge on 26% of

NRSSTL shares held by EIL, then it

shall pledge additional 26% of the

shares held by it.

Additional DSRA to be created in Financial Year

Additional DSRA (INR Cr)

FY 31 4

FY 32 5

FY 33 7

FY 34 7

FY 35 2

Series Series I Series II Series III Series IV

Coupon Rate (in %)

STRPPs from first two

years from closing –

8.60% annualized

Remaining STRPPs in

series I –8.80%

annualized

9.18% per annum (9.50% per

annum annualized)

9.18% per annum (9.50%

per annum annualized)

9.18% per annum (9.50%

per annum annualized)

Coupon Payment

Frequency Quarterly

Quarterly Quarterly Quarterly

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Date Existing Repayment

Schedule (INR Crores) Proposed Redemption Amount (INR Crores)

Prepayment (INR Crores) **

30-06-2019 4 3.7 0.3

30-09-2019 4 3.7 0.3

31-12-2019 4 3.7 0.3

31-03-2020 5 4 1

30-06-2020 3.7 3.7 0

30-09-2020 5 4 1

31-12-2020 5 4 1

31-03-2021 5 4.3 0.7

30-06-2021 3.7 3.7 0

30-09-2021 5 4.3 0.7

31-12-2021 5 4.3 0.7

31-03-2022 5 4.6 0.4

30-06-2022 5.4 4.6 0.8

30-09-2022 5 4.4 0.6

31-12-2022 5 4.4 0.6

31-03-2023 5 4.5 0.5

30-06-2023 5.1 5.1 0

30-09-2023 6 4.4 1.6

31-12-2023 5 5 0

31-03-2024 6 5.7 0.3

30-06-2024 6.5 5.3 1.2

30-09-2024 6 5.3 0.7

31-12-2024 6 6 0

31-03-2025 7 6.2 0.8

30-06-2025 6.2 5.5 0.7

30-09-2025 7 6.2 0.8

31-12-2025 7 6.2 0.8

31-03-2026 7 6.6 0.4

30-06-2026 7.9 6.2 1.7

30-09-2026 7 6.2 0.8

31-12-2026 7 6.2 0.8

31-03-2027 7 6.7 0.3

30-06-2027 7.6 7.1 0.5

30-09-2027 8 6.5 1.5

31-12-2027 7 6.8 0.2

31-03-2028 8 6.8 1.2

30-06-2028 7.6 6.8 0.8

30-09-2028 8 6.8 1.2

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31-12-2028 7 7 0

31-03-2029 8 7.1 0.9

30-06-2029 7.6 7.1 0.5

30-09-2029 8 7.1 0.9

31-12-2029 7 7 0

31-03-2030 8 7.7 0.3

30-06-2030 8.3 7.7 0.6

30-09-2030 8 7.7 0.3

31-12-2030 8 8 0

31-03-2031 8 8 0

30-06-2031 8 8 0

30-09-2031 9 8 1

31-12-2031 8 8 0

31-03-2032 9 8.6 0.4

30-06-2032 9.4 8.6 0.8

30-09-2032 9 8.6 0.4

31-12-2032 9 4.3 4.7

31-03-2033 10 4.8 5.2

30-06-2033 9.1 7.3 1.8

30-09-2033 10 4.8 5.2

31-12-2033 10 9.5 0.5

31-03-2034 10 9.5 0.5

30-06-2034 10.8 9.5 1.3

30-09-2034 10 9.5 0.5

31-12-2034 10 10 0

31-03-2035 10 10 0

30-06-2035 10.8 10.1 0.7

30-09-2035 10 10 0

31-12-2035 10 10 0

31-03-2036 10 10 0

30-06-2036 10.8 10.8 0

30-09-2036 10 10 0

31-12-2036 10 10 0

31-03-2037 10 10 0

30-06-2037 10.8 10.8 0

30-09-2037 10 10 0

31-12-2037 10 10 0

31-03-2038 10 10 0

30-06-2038 12 12 0

30-09-2038 13 13 0

31-12-2038 13 13 0

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31-03-2039 13 12.7 0.3

30-06-2039 27.2 26.7 0.5

Total 654.5 602.0 52.5

** To be paid in nearest multiple of face value (INR 10 Lacs) or minimum face value.