9.75%. If the rating of the Debentures is downgraded or the rating of the Issuer is downgraded from CARE A, the coupon rate will be increased by 0.25% for each notch of downgrade. If the rating of the Debentures or the Issuer is upgraded, the coupon rate will be decreased by 0.25% for each notch of upgrade until it is restored.

Profectus Capital 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.