9.85%. If the credit rating of the Debentures is downgraded from IND A+ / Outlook: Stable or the credit rating of the Company is downgraded from A+, the coupon rate will be increased by 0.25% for each notch of downgrade. If the rating of the Debentures or the Company is upgraded, the coupon rate will be decreased by 0.25% for each notch of upgrade until it is restored to IND A+ / Outlook: Stable for the Debentures or A+ for the Company.

Clix Capital Services Private Limited

Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.