www.sebi.gov.in/mfdp/goldmansachs.pdf
Upcoming SlideShare
Loading in...5
×
 

www.sebi.gov.in/mfdp/goldmansachs.pdf

on

  • 2,522 views

 

Statistics

Views

Total Views
2,522
Views on SlideShare
2,522
Embed Views
0

Actions

Likes
0
Downloads
23
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

www.sebi.gov.in/mfdp/goldmansachs.pdf www.sebi.gov.in/mfdp/goldmansachs.pdf Document Transcript

  • SCHEME INFORMATION DOCUMENT GOLDMAN SACHS INDIA EQUITY FUND (An open ended equity scheme) Offer of Units of Rs. 10/- each for cash (subject to applicable Load) during the New Fund Offer and continuous offer for Units at NAV based prices New Fund Offer opens on: ___ dd/mm/08 New Fund Offer closes on: ___ dd/mm/08 Scheme re-opens on: ____ dd/mm/08 Name of the Mutual Fund: Goldman Sachs Mutual Fund Name of Asset Management Company: Goldman Sachs Asset Management (India) Private Limited Name of Trustee Company: Goldman Sachs Trustee Company (India) Private Limited Addresses, website of the above entities: 951-A, Rational House, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. (Website : www.gsam.in ) The particulars of the Scheme have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations 1996 as amended till date, and filed with SEBI along with a Due Diligence Certificate from the Asset Management Company. The Units being offered for public subscription have not been approved or recommended by SEBI nor has SEBI certified the accuracy or adequacy of the Scheme Information Document. The Scheme Information Document sets forth concisely the information about the Scheme that a prospective investor ought to know before investing. Before investing, investors should also ascertain about any further changes to this Scheme Information Document after the date of this document from the Mutual Fund / Investor Service Centres / website / Distributors or brokers. Investors are advised to refer to the Statement of Additional Information (SAI) for details of Goldman Sachs Mutual Fund, tax and legal issues and general information, which is available on www.gsam.in. The SAI is incorporated herein by reference and is legally a part of the Scheme Information Document. For a free copy of the current SAI, please contact your nearest Official Points of Acceptance or log on to our website. The Scheme Information Document should be read in conjunction with the SAI and not in isolation. Pursuant to an exemption from the United States Commodity Futures Trading Commission in connection with pools whose participants are limited to qualified eligible persons, any Offer Document of the Mutual Fund is not required to be, and has not been, filed with the Commodity Futures Trading Commission. The Commodity Futures Trading Commission does not pass upon the merits of participating in a pool or upon the adequacy or accuracy of any offering memorandum. Consequently, the Commodity Futures Trading Commission has 1
  • not reviewed or approved this Scheme Information Document and any Offer Document of the Mutual Fund. THIS SCHEME INFORMATION DOCUMENT SHOULD BE RETAINED FOR FUTURE REFERENCES. This Scheme Information Document is dated September 4, 2008. 2
  • TABLE OF CONTENTS HIGHLIGHTS / SUMMARY OF THE SCHEME I. INTRODUCTION A. RISK FACTORS (i) Standard Risk Factors (ii) Scheme Specific Risk Factors B. REQUIREMENT OF MINIMUM INVESTORS IN THE SCHEME C. SPECIAL CONSIDERATIONS D. DEFINITIONS E. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY II. INFORMATION ABOUT THE SCHEME A. TYPE OF THE SCHEME B. WHAT IS THE INVESTMENT OBJECTIVE OF THE SCHEME? C. HOW WILL THE SCHEME ALLOCATE ITS ASSETS? D. WHERE THE SCHEME WILL INVEST? E. WHAT ARE THE INVESTMENT STRATEGIES? F. FUNDAMENTAL ATTRIBUTES (i) Type of Scheme (ii) Investment Objective (iii) Terms of Issue G. HOW WILL THE SCHEME BENCHMARK ITS PERFORMANCE? H. WHO MANAGES THE SCHEME? I. WHAT ARE THE INVESTMENT RESTRICTIONS? J. HOW HAS THE SCHEME PERFORMED? III. UNITS AND OFFER A. NEW FUND OFFER (NFO) B. ONGOING OFFER DETAILS C. PERIODIC DISCLOSURES D. COMPUTATION OF NAV 3
  • IV. FEES AND EXPENSES A. NEW FUND OFFER (NFO) EXPENSES B. ANNUAL SCHEME RECURRING EXPENSES C. LOAD STRUCTURE D. WAIVER OF LOAD FOR DIRECT APPLICATIONS V. RIGHTS OF UNITHOLDERS VI. UNITHOLDERS’ SERVICES VII. PENALTIES AND PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTIONS OR INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN PROCESS OF BEING TAKEN BY ANY REGULATORYAUTHORITY 4
  • HIGHLIGHTS / SUMMARY OF THE SCHEME Name of the Scheme Goldman Sachs India Equity Fund Structure Open ended equity scheme. Investment objective The investment objective of the Scheme is to seek to generate long-term capital growth from an actively managed portfolio primarily of equity and Equity Related Securities. There can be no assurance that the investment objective of the Scheme will be realised. Options and Sub- Growth Option and Dividend Option. The Dividend Option offers Options Dividend Payout and Dividend Reinvestment sub-options. Liquidity Being an open ended scheme, Units may be Purchased or Redeemed on every Business Day at Applicable NAV, subject to provisions of Entry Load / Exit Load, if any. Minimum Application Rs. 50,000/- Amount Minimum Additional Rs. 1,000/- and in multiples of Re. 1/- thereafter. Application Amount Minimum Amount for Rs.1,000/- and multiples of Re. 1/- thereafter. Redemption Benchmark BSE 500 Index Transparency/NAV The AMC will calculate and disclose the NAVs at the close of every Disclosure Business Day. In addition, the AMC will disclose details of the portfolio of the Scheme every 6 months as described below under Section III (C) ‘Units And Offer - Periodic Disclosures’. Loads ENTRY LOADS (during NFO Period as % of Rs 10/-; during Ongoing Offer Period as % of Applicable NAV) For Purchases In respect of each Purchase of Units less than Rs. 5 crores in value: 2.25% In respect of each Purchase of Units equal to or greater than Rs. 5 crores in value: Nil For Systematic Investment 2.25% Plan For Switch-ins (not available See Switch Loads table below during NFO Period) For Fund of Funds schemes Nil For Dividend Re-investment Nil EXIT LOADS (as % of Applicable NAV) For Redemptions (including 1% if the Units are Redeemed / as part of Systematic Switched-out within 6 months of Withdrawal Plan / Switch- allotment outs and Redemptions from Systematic Investment Plans) 0.5% if the Units are Redeemed / Switched-out after 6 months, but within 1 year of allotment No Exit Load will be charged if the Units are Redeemed after 1 year of allotment. 5
  • For Fund of Funds schemes Nil In case an investor has purchased Units on more than 1 Business Day (either under during the NFO Period or during the Ongoing Offer Period), the Units purchased prior in time (i.e. those Units which have been held for the longest period of time), will be Redeemed first i.e. on a FIFO basis, and the Exit Load applicable to each of the Units would correspond to the period of time the Units were held by the Unitholder. SWITCH LOADS If the Entry Load of the The difference in the entry loads will Scheme is greater than the be charged by the Scheme entry load of the scheme of the Fund from which the switch-out is being made If the Entry Load of the The Scheme will charge no Entry Scheme is equal to or lower Load than the entry load of the scheme of the Fund from which the switch-out is being made Investors should note that the scheme of the Fund from which the switch-out is being made may charge an exit load for switch-outs. Please refer to the scheme information document of the relevant scheme before applying for a Switch-in. In the case of Switch-outs from the Scheme to another scheme of the Fund, the scheme to which the switch-in is being made will charge the difference in the entry loads if the entry load of the switch-in scheme is higher than that of the Scheme. Please refer to the scheme information document of the relevant scheme before applying for a Switch-in or a Switch-out. No Entry Load/Exit Load is chargeable in case of Switch-in and Switch-out made between different Options of the Scheme. Please refer to Section IV(C) ‘Load Structure’ in this Scheme Information Document for further details. As per SEBI Circular SEBI/IMD/CIR No. 10/ 112153 /07 dated December 31, 2007, no Entry Load shall be charged for direct applications (including Switch-ins) received by the AMC i.e. applications received at any of the Official Points of Acceptance that are not routed through any distributor/agent/broker. Further as per SEBI Circular SEBI/IMD/CIR No. 14/120784/08 dated March 18, 2008, no Load (Entry Load as well as Exit Load) will be charged by the AMC on Units allotted on reinvestment of Dividends. I. INTRODUCTION A. RISK FACTORS 6
  • 1. Standard Risk Factors • Mutual funds and Securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Scheme will be achieved. • Past performance of the Sponsor/AMC/Mutual Fund does not guarantee future performance of the Scheme. • Mutual funds, being vehicles of Securities investments, are subject to market and other risks and there can be no guarantee against loss resulting from investing in the Scheme. Investment in the Mutual Fund Units involves investment risks such as trading volumes, settlement risk, liquidity risk, default risk including the possible loss of principal. Further risks may include fluctuations in the equity and bond markets, fluctuations in interest rates, the prevailing political and economic environment, changes in government policy, factors specific to the issuer of the Securities, tax Laws, liquidity of the Securities, etc. • As the price / value / interest rates of the Securities in which the Scheme invests fluctuates, the value of your investment and the NAV of the Units in the Scheme may go up or down depending on various factors and forces affecting capital markets. • The name of the Scheme does not in any manner indicate either the quality of the Scheme or its future prospects and returns. • The Sponsor is not responsible or liable for any loss or shortfall resulting from the operation of the Scheme beyond the initial contribution of Rs 1,00,000/- (Rupees One Lakh only) made by it towards setting up the Mutual Fund. The associates of the Sponsor are not responsible or liable for any loss or shortfall resulting from the operation of the Scheme. • The AMC has no previous experience in managing a mutual fund in India and the present Scheme is the first scheme being launched under its management. • The present Scheme is not a guaranteed or assured return scheme. • Investment decisions made by the AMC may not always be profitable. • From time to time and subject to the Regulations, the Sponsor, their affiliates, associates, subsidiaries, the Mutual Fund and the AMC may invest directly or indirectly in the Scheme. These entities may acquire a substantial portion of the Schemes' Units and collectively constitute a major investor in the Scheme. Accordingly, Redemption of Units held by such entities may have an adverse impact on the Scheme because the timing of such Redemption may impact the ability of other Unitholders to Redeem their Units. • Different types of Securities in which the Scheme would invest as given in this Scheme Information Document carry different levels and types of risk. Accordingly the Scheme’s risk may increase or decrease depending upon its investment pattern. For example, equity and Equity Related Securities carry a higher amount of risk than debt Securities. • As permitted under the Regulations, the AMC will engage the services of Distributors for the distribution of Units of the Scheme and may make differential payment to the Distributors based on varying fee structures as may be agreed between the AMC and each Distributor, the amount of which would typically be connected to the volume of sales. • Reinvestment Risk 7
  • This risk refers to the interest rate levels at which cash flows received from the Securities in the Scheme are reinvested. The additional income from reinvestment is the "interest on interest" component. The risk is that the rate at which interim cash flows can be reinvested may be lower than that originally assumed. • Liquidity Risk o This refers to the ease at which Securities can be sold at or near its valuation yield-to- maturity (YTM) or true value. The primary measure of liquidity risk is the spread between the bid price and the offer price quoted by a dealer. Trading volumes, settlement periods and transfer procedures may restrict the liquidity of some of these investments. Different segments of the Indian financial markets have different settlement periods, and such periods may be extended significantly by unforeseen circumstances. Further, delays in settlement could result in temporary periods when a portion of the assets of the Scheme are not invested and no return is earned thereon or the Scheme may miss attractive investment opportunities o The Scheme may not be able to immediately sell certain types of illiquid Securities. The purchase price and subsequent valuation of restricted and illiquid Securities may reflect a discount, which may be significant, from the market price of comparable Securities for which a liquid market exists. • Risk of Substantial Redemptions o Substantial Redemptions of Units within a limited period of time could require the Scheme to liquidate positions more rapidly than would otherwise be desirable, which could adversely affect the value of both the Units being Redeemed and that of the outstanding Units of the Scheme. The risk of a substantial Redemption of the Units may be exacerbated where an investment is made in the Scheme as part of a structured product with a fixed life and where such structured products utilise hedging techniques. Please refer to the sections on ‘Right to Limit Redemptions’ and ‘Suspension of Purchase / Redemption / Switch of Units’ in the Statement of Additional Information. Regardless of the period of time in which Redemptions occur, the resulting reduction in the net asset value of the Scheme could also make it more difficult for the Scheme to generate profits or recover losses. o As the liquidity of the Scheme’s investments could, at times, be restricted by low trading volumes and long settlement periods, the time taken by the Scheme for Redemption of Units may be significant in the event of an unusually large number of Redemption requests. In view of this, the Trustees have the right, in their sole discretion to limit Redemptions (including suspending Redemption) under certain circumstances, as described under the sections on ‘Right to Limit Redemptions’ and ‘Suspension of Purchase / Redemption / Switch of Units’ in the Statement of Additional Information. 2. Scheme Specific Risk Factors (a) Risk Associated with Investing in Equities i) General Provisions • Subject to the stated investment objective, the Scheme proposes to primarily invest in equity and Equity Related Securities. The Scheme is intended for long-term investors who can accept the risks associated with investing primarily in the Securities of the type held in the Scheme. Equity instruments by nature are volatile and prone to price fluctuations on a daily basis due to both macro and micro factors. Investors in equity and Equity Related Securities will be subject to the risks associated with equities, the values of which in general 8
  • fluctuate in response to the activities of individual companies and the general market and economic conditions. In particular, investors should be aware that equity and Equity Related Securities are subordinate in the right of payment to other corporate Securities, including debt Securities. The inability of the Scheme to dispose of Securities due to settlement or other problems could result either in losses to the Scheme due to subsequent declines in value of the particular Security or, if the Scheme has entered into a contract to sell the Security, could result in possible liability to the purchaser. • The Fund Manager, may invest in the Securities of smaller, lesser-known companies. These investments may involve greater risk and the possibility of greater portfolio price volatility than investing in larger, more mature or better-known firms. Amongst other reasons for the greater price volatility of Securities of small companies and unseasoned stocks are the less certain growth prospects of smaller firms, the lower degree of liquidity of the markets for such stocks, and the greater sensitivity of small companies to changing economic conditions. For example, these companies are associated with higher investment risk than that normally associated with larger firms due to the greater business risks of small size and limited product lines, markets, distribution channels and financial and managerial resources. Such Securities, including those of newer or recently restructured companies or those which may have experienced financial difficulties, may be more volatile in price than larger capitalised stocks. ii) Concentration Risks The Scheme may concentrate its investments in the Securities of companies of certain sectors and will therefore be subject to the risks associated with such concentration. In addition, the small capitalisation and newly-established nature of many of the companies in which the Scheme invests could directly expose the Scheme to higher levels of volatility and risk than would generally be the case in a more diverse fund portfolio of equity Securities. iii) Convertible Securities The Scheme may invest in convertible Securities, that are debt obligations of the issuer convertible at a stated exchange rate into equity shares of the issuer. As with all debt Securities, the market value of convertible Securities tends to decline as interest rates increase and, conversely increases as interest rates decline. Convertible Securities generally offer lower interest or dividend yields than non-convertible Securities of similar quality. However, when the market price of the equity shares underlying a convertible Security exceeds the conversion price, the price of the convertible Security tends to reflect the value of the underlying equity shares. As the market price of the underlying equity shares declines, the convertible Security tends to trade increasingly on a yield basis, and thus may not depreciate to the same extent as the underlying equity shares. Convertible Securities generally rank senior to equity shares in an issuer’s capital structure and are consequently of higher quality and entail less risk than the issuer’s equity shares. However, the extent to which such risk is reduced depends in large measure upon the degree to which the convertible Security sells above its value as a fixed income Security. In evaluating a convertible Security, the AMC will give primary emphasis to the attractiveness of the underlying equity shares. iv) Corporate Action and Proxy Voting • From time to time, the issuer of a Security held in the Scheme may initiate a corporate action relating to that Security. Corporate actions relating to equity Securities may include, among others, an offer to purchase new shares, or to tender existing shares, of that Security at a certain price. Corporate actions relating to debt Securities may include, among others, an offer for early redemption of the debt Security, or an offer to convert the debt security into stock. Certain corporate actions are voluntary, meaning that the Scheme may only 9
  • participate in the corporate action if it elects to do so in a timely fashion. Participation in certain corporate actions may enhance the value of the Scheme. • In cases where the Fund or the Fund Manager receives sufficient advance notice of a voluntary corporate action, the Fund Manager will exercise its discretion, in good faith, to determine whether the Scheme will participate in that corporate action. If the Fund Manager does not receive sufficient advance notice of a voluntary corporate action, the Fund Manager acting on behalf of the Scheme may not be able to timely elect to participate in that corporate action. Participation or lack of participation in a voluntary corporate action may result in a negative impact on the value of the Scheme. • The AMC may in its discretion exercise or procure the exercise of voting or other rights which may be exercisable in relation to Securities held by the Scheme. In relation to the exercise of such rights the AMC may establish guidelines for the exercise of voting or other rights and the AMC may, in its discretion, elect not to exercise or procure the exercise of such voting or other rights. (b) Risks Associated with Investing in Indian Markets • Investments in India may be affected by political, social, and economic developments affecting India, which may include changes in exchange rates and controls, interest rates, government policies, diplomatic conditions, hostile relations with neighbouring countries, taxation policies including the possibility of expropriation or confiscatory taxation, imposition of withholding taxes on dividend or interest payments, limitation on removal of funds or assets of the Scheme and ethnic, religious and racial disaffections or conflict. • The relative small size and inexperience of the Securities markets in India and the limited volume of trading in Securities may make the Scheme’s investments illiquid and more volatile than investments in more established markets. • In addition, the settlement systems may be less developed than in more established markets, which could impede the Scheme’s ability to effect portfolio transactions and may result in delayed settlement and the Scheme’s investments being settled through a more limited range of counterparties with an accompanying enhanced credit risk. (c) Risks Associated with Investing in Foreign Securities i) General Provisions • It is the AMC's belief that overseas investments including those in ADRs / GDRs, foreign Securities and in overseas ETFs offers new investment and portfolio diversification opportunities into multi-market and multi-currency products. However, such investments also entail additional risks. Such overseas investments carry exchange rate risks related to depreciation of foreign currency and the country specific risks, in addition to the risks of investing in domestic Securities. The country specific risks would include events such as change in regulations or political circumstances like introduction of extraordinary exchange rate controls, restrictions on repatriation of capital due to exchange rate controls, bi-lateral political tensions leading to immobilization of overseas financial assets and the applicable tax laws of the respective jurisdiction for the execution of trades or otherwise. Such overseas investment opportunities may be pursued by the AMC provided they are considered appropriate in terms of the overall investment objectives of the Scheme. Since the Scheme may invest only partially in overseas markets, there may not be readily available and widely accepted benchmarks to measure performance of the Scheme. To 10
  • manage risks associated with foreign currency and interest rate exposure, the Scheme may use Derivatives for efficient portfolio management including hedging. • Certain markets may require payment for Securities to be made before delivery, subjecting the Scheme with the accompanying credit risk. ii) Currency Risk • Where Securities of the Scheme are denominated in a different currency from the Indian Rupee, investors should note that the NAV will be calculated in the Indian Rupee equivalent of that currency. Currency exchange rates may fluctuate significantly over short periods of time causing, along with other factors, the NAV to fluctuate as well. Currency exchange rates can be affected unpredictably by a number of factors, including intervention or failure to intervene by governments or central banks or by currency controls or political developments throughout the world. • Restrictions on currency trading that may be imposed will have an adverse effect on the value of the Securities of companies that trade or operate in countries subject to such restrictions. The repatriation of capital to India may also be impacted by changes in regulations concerning exchange controls or political circumstances as well as the application to it of other restrictions on investment. • In addition, country risks include events such as introduction of extraordinary exchange controls, bi-lateral conflicts, etc., leading to immobilization of the overseas financial assets and the prevalent tax laws of the respective jurisdiction for execution of trades or otherwise. (d) Risks Associated with Investing in Derivatives • The Scheme may invest in Derivative products like stock index futures, interest rate swaps, forward rate agreements or other Derivatives in accordance with and to the extent permitted under the Regulations. • Derivative products are leveraged instruments and can provide disproportionate gains as well as disproportionate losses to the investor. Execution of such strategies depends upon the ability of the Fund Manager to identify such opportunities. Identification and execution of the strategies to be pursued by the Fund Manager involve uncertainty and the decision of the Fund Manager may not always be profitable. No assurance can be given that the Fund Manager will be able to identify or execute such strategies. • The risks associated with the use of Derivatives are different from and possibly greater than, the risks associated with investing directly in Securities and other traditional investments. Therefore, Derivatives require investment techniques and risk analysis different from those associated with traditional Securities such as stocks and bonds. The use of Derivatives requires an understanding not only of the underlying instrument but also of the Derivative itself. If the Fund Manager is incorrect in its forecasts of market values and currency exchange rates, the investment performance of the Scheme may be less favourable than it would have been if this investment technique were not used. • An investment in Derivatives may involve additional risks for investors. These additional risks may arise as a result of any or all of the following: (i) the creditworthiness of the counterparties to such Derivative transactions; and/or (ii) the potential illiquidity of the markets for Derivatives. To the extent that Derivatives are utilised to seek to achieve the investment objectives of the Scheme, and for purposes other than hedging, the overall risk of loss to the Scheme may be increased. To the extent that Derivatives are utilised for 11
  • hedging purposes, the risk of loss to the Scheme may be increased where the value of the Derivative instrument and the value of the Security or position which it is hedging are insufficiently correlated. • There is the possibility that a loss may be sustained by the Scheme as a result of the failure of the counterparties to comply with the terms of the Derivatives contract. Therefore a default on the contract would deprive the Scheme of unrealised profits and / or the hedging benefits of the contract or force the Scheme to cover its purchase or sale commitments, if any, at the current market price. Other risks in using Derivatives include the risk of mispricing or improper valuation of Derivatives and the inability of Derivatives to correlate perfectly with underlying assets, rates and indices. • Derivatives require the maintenance of adequate controls to monitor the transactions entered into. The Scheme bears a risk that it may not be able to correctly forecast future market trends or the value of assets, indexes or other financial or economic factors in establishing derivative positions for the Scheme. Trading in Derivatives carries a high degree of risk although they are traded at a relatively small amount of margin which provides the possibility of significant profit or loss in comparison with the principal investment amount. Even a small price movement in the underlying asset could have a large impact on their value. The Scheme may find it difficult or impossible to execute Derivative transactions in certain circumstances. For example, when there are insufficient bids or suspension of trading due to price limits or circuit breakers, the Scheme may face liquidity issues. Besides the price of the underlying asset, the volatility, tenor and interest rates affect the pricing of Derivatives. • Futures and Call Options o The Scheme may invest in Derivatives such as futures and call options. The options buyer’s risk is limited to the premium paid, while the risk of an options writer is unlimited. However the gains of an options writer are limited to the premiums earned. The writer of a call option bears a risk of loss if the value of the underlying asset increases above the exercise price. The loss can be unlimited as underlying asset can increase to any levels. The writer of a put option bears the risk of loss if the value of the underlying asset declines below the exercise price and the loss is limited to strike price. The relevant stock exchange, if any, may impose restrictions on the exercise of options and may also restrict the exercise of options at certain times in specified circumstances. o Investments in index futures face the same risk as investments in a portfolio of shares representing an index. The extent of loss is the same as in the underlying Securities. o The risk of loss in trading futures contracts can be substantial, because of the low margin deposits required, the extremely high degree of leverage involved in futures pricing and the potential high volatility of the futures markets. • ISDA Master Agreements o The Scheme may enter into Derivative transactions of the type governed by the ISDA Master Agreement. The ISDA Master Agreement is a standard agreement commonly used in the Derivatives market which sets forth key provisions governing the contractual relationship between the parties to such agreement, including each of their rights, liabilities and obligations. o On each date on which a Derivatives transaction is entered into by the Trustees / AMC, on behalf of the Scheme, the Scheme will be deemed to have given certain 12
  • representations and undertakings to each counterparty with whom the ISDA Master Agreement is entered into on its behalf. Such representations and undertakings include, without limitation, representations and undertakings, from and in respect of the Scheme, as to the due establishment, good standing and corporate powers of the Scheme, the obtaining of all requisite consents and compliance with applicable laws by the Scheme and the binding nature of obligations on the Scheme under the relevant ISDA Master Agreement and associated contracts and transactions. The Trustees / AMC must notify the Fund Manager if at any time it becomes aware that it is in breach of any such representations or unable to continue to comply with any such undertakings. Any such breach may, in addition to other potential consequences, lead to each relevant counterparty being able to unilaterally terminate its ISDA Master Agreement with the Trustees / AMC on behalf of the Scheme and to close out any open contracts with it. (e) Risks Associated with Investing in Securitised Debt • Securitised debt instruments carry credit risk of the obligors and are dependent on the servicing of the pass through certificate / contributions or similar instruments. However such risks are mitigated suitably by appropriate pool selection as well as credit enhancements specified by rating agencies. In cases where the underlying facilities are linked to benchmark rates, the securitised debt instrument may be adversely impacted by adverse movements in benchmark rates. However this risk is mitigated to an extent by appropriate credit enhancements specified by rating agencies. Securitised debt instruments also carry the risks of prepayment by the obligors, which can be expected to accelerate during periods of declining interest rates. In case of prepayments of securitised debt instruments, it may result in reduction in the actual duration as compared to the expected duration of the instrument at the time of Purchase, which may adversely impact the portfolio yield. Such prepayments can usually be reinvested only at the lower yields then prevailing in the market. Therefore, during periods of declining interest rates, these Securities are less likely than other fixed income obligations to appreciate in value and less effective at locking in a particular yield. These instruments also carry risk associated with the collection agent who is responsible for collection of receivables and depositing them. • The underlying assets in the case of investments in securitised debt could be mortgages (‘mortgage backed securities’) or other assets such as credit card receivables, automobile / vehicle / personal / commercial / corporate loans and any other receivables / loans / debt (‘asset backed securities’). Asset backed securities present certain credit risks that are not presented by mortgage backed securities because asset-backed securities generally do not have the benefit of a security interest over the collateral that is comparable to mortgage assets. There is the possibility that, in some cases, recoveries on repossessed collateral may not be available to support payments on these securities. • The risks associated with the underlying assets can be described as follows: Credit card receivables are unsecured. Automobile / vehicle loan receivables are usually secured by the underlying automobile / vehicle and sometimes by a guarantor. Mortgages are secured by the underlying property which may depreciate in value. Personal loans are usually unsecured. Corporate loans could be unsecured or secured by a charge on fixed assets / receivables of the company or a letter of comfort from the parent company or a guarantee from a bank / financial institution. Underlying assets which are secured by a physical asset / guarantor are perceived to be less risky than those which are unsecured. Therefore, the risk and the yield in descending order of magnitude would be credit card receivables, personal loans, vehicle /automobile loans, mortgages and corporate loans assuming the same rating. (f) Risks Associated with Investing in Bonds 13
  • i) General Provisions • Debt Securities are subject to the risk of an issuer’s inability to meet principal and interest payments on the obligation (credit risk) and may also be subject to price volatility due to such factors as interest rate sensitivity, market perception of the creditworthiness of the issuer and general market liquidity (market risk). The Fund Manager will consider both credit risk and market risk in making investment decisions for the Scheme. • The timing of transactions in debt obligations, which will often depend on the timing of the Purchases and Redemptions in the Scheme, may result in capital appreciation or depreciation because the value of debt obligations generally varies inversely with the prevailing interest rates. ii) Interest Rate Risk / Price Risk • The value of the Securities of the Scheme invested in fixed income securities will change in response to fluctuations in interest rates. When interest rates decline, the value of fixed income securities generally can be expected to rise and vice versa. • In the case of Floating Rate Instruments, an additional risk could be due to the change in the spreads of Floating Rate Instruments. If the spreads on Floating Rate Instruments rise, then there could be a price loss on these instruments. Secondly in the case of fixed rate instruments that have been swapped for floating rates, any adverse movement in the fixed rate yields vis-à-vis swap rates could result in losses. iii) Prepayment Risk The borrower may prepay the receivables prior to their respective due dates. This may result in a change in the yield and tenor for the Scheme. iv) Zero Coupon and Deferred Interest Bonds The Scheme may invest in zero coupon bonds and deferred interest bonds, which are debt obligations issued at a significant discount from their face value. Zero coupon bonds do not provide periodic interest payments and deferred interest bonds generally provide for a period of delay before the regular payment of interest begins. Such investments experience greater volatility in market value due to changes in interest rates and the Scheme may accrue income on such obligations even though it receives no cash. v) Risks of Investing in Unrated Debt Securities • Unrated debt Securities are considered predominantly speculative and may have poor prospects for reaching investment grade standing. Unrated debt Securities of comparable credit quality (commonly known as “junk bonds”) are subject to the increased risk of an issuer’s inability to meet principal and interest obligations and further, are usually unsecured and are often subordinated to the rights of other creditors of the issuers of such Securities. These Securities, also referred to as ‘high yield securities’, may be subject to greater price volatility due to such factors as specific corporate developments, interest rate sensitivity, negative perceptions or publicity (whether or not based on fundamental analysis) of the junk bond markets generally and less secondary market liquidity. • The secondary market for such Securities is typically not very liquid, and is more volatile than, the secondary market for rated Securities. 14
  • (g) Risks Associated with Credit Rating Agencies Credit ratings issued by recognised credit rating agencies are designed to evaluate the safety of principal and interest payments of rated Securities. In addition, credit rating agencies may or may not make timely changes in a rating to reflect changes in the economy or in the conditions of the issuer that affect the market value and liquidity of the Security. Credit ratings are used only as a preliminary indicator of investment quality. Investments in unrated debt obligations will be more dependent on the Fund Manager’s credit analysis than would be the case with investments in investment grade debt obligations. (h) Risks Associated with Short Selling and Securities Lending i) Risk associated with short selling • Short selling is the sale of shares that the seller does not own at the time of trading. Instead, he could borrow it from someone who already owns it. Later, the short seller buys back the stock he shorted and returns the stock to close out the loan. If the price of the stock has fallen, he can buy the stock back for less than he received for selling it and profits from it (i.e., the difference between a higher short sale price and the lower purchase price). • However, short positions carry the risk of losing money and these losses may be unlimited theoretically, if the price of the stock increases without limit and hence may result in major losses in the Scheme. In addition, short selling also carries a risk that the seller is unable to borrow the Securities. In such cases, short seller may be required to purchase the Securities sold short to cover the short position even if the price of the Security is higher at the time of the short sale. If a stock starts to rise and a large number of short sellers try to cover their positions at the same time, it can briskly escalate the price even further. This phenomenon is known as a ‘short squeeze’. This might result in major losses to the Scheme. ii) Risk associated with Securities lending • Securities lending is lending of Securities through an approved intermediary to a borrower under an agreement for a specified period with the condition that the borrower will return equivalent Securities of the same type or class at the end of the specified period along with the corporate benefits accruing on the Securities borrowed. In case the Scheme undertakes Securities lending under the Regulations, it may, at times be exposed to counter party risk and such other risks associated with Securities lending. • The risks in lending portfolio Securities, as with other extensions of credit, consists of the failure of another party, in this case the approved intermediary, to comply with the terms of the agreement entered into between the lender of the Securities i.e. the Scheme and the approved intermediary and can therefore result in the possible loss of rights in the collateral put up by the borrower of the Securities, the inability of the approved intermediary to return the Securities deposited by the lender and the possible loss of any corporate benefits accruing to the lender from the Securities deposited with the approved intermediary. The Mutual Fund may not be able to sell such lent Securities and this can lead to temporary illiquidity within the Scheme. (i) Risks Associated with Calculation of NAV • From time to time, materiality thresholds may apply to calculation of NAV in accordance with the Regulations. Unitholders should note that the AMC may not pay the Unitholders or 15
  • the Scheme any difference in circumstances where any such materiality thresholds provided under the Regulations are not exceeded. (j) Risks Associated with Material Interests of Associates of the Sponsor, AMC & Trustee Company • The Goldman Sachs Group, Inc., the ultimate parent of the Sponsor, is a worldwide, full- service investment banking, broker-dealer, asset management and financial services organization, and a major participant in global financial markets. As a result, The Goldman Sachs Group, Inc., the asset management division of Goldman Sachs (other than the AMC and Trustee Company), and the associates of the Sponsor, AMC and Trustee Company, and their affiliates (other than the AMC and Trustee Company), directors, partners, trustees, managers, members, officers and employees (collectively referred to, for purposes of this “Risks Associated with Material Interests of Associates of the Sponsor, AMC and Trustee Company” section, “Goldman Sachs”), are engaged in various businesses and have diverse interests. The Scheme will not be entitled to compensation related to such businesses. These activities and interests may include investment, research, potential multiple advisory, investment management, financing, proprietary trading, prime broking, lending, agency and principal, transactional, investment banking, market making, financial and other interests in Securities and instruments that may be directly or indirectly purchased or sold by the Scheme and the service providers acting on behalf of the Scheme. In addition, Goldman Sachs, including the AMC (subject to and in accordance with applicable Laws), may make charitable contributions to institutions, including those that have relationships with clients or personnel of clients. Personnel of Goldman Sachs may also make political contributions. The following are a few examples: o The AMC will give advice to and make investment decisions for the Scheme as it believes are in the fiduciary interests of the Scheme. Advice given to the Scheme by the AMC or investment decisions made for the Scheme by the AMC may differ from advice given by Goldman Sachs to, or investment decisions made by Goldman Sachs for, Goldman Sachs’ proprietary accounts or funds or accounts managed or advised by Goldman Sachs (such funds and accounts, “GS Client Accounts”). Owing to factors, including the existence of information barriers in place between the AMC and Goldman Sachs as required under applicable Laws, the results of the investment activities of the Scheme may differ significantly from the results achieved by Goldman Sachs for its proprietary accounts and/or GS Client Accounts. In addition, the possibility that actions taken by Goldman Sachs with respect to its proprietary accounts and/or GS Client Accounts may adversely impact the Scheme or that actions taken by the AMC acting on behalf of the Scheme may benefit Goldman Sachs and/or GS Client Accounts cannot be ruled out. For example, a Scheme may buy a Security and Goldman Sachs or other GS Client Accounts may establish a short position in that same Security. The subsequent short sale may result in impairment of the price of the Security which the Scheme holds. Conversely, the Scheme may establish a short position in a Security and Goldman Sachs or other GS Client Accounts may buy that same Security. The subsequent purchase may result in an increase of the price of the underlying position in the short sale exposure of the Scheme and such increase in price would be to the Scheme’s detriment. Further, if a GS Client Account holds debt Securities of an issuer and a Scheme holds equity Securities of the same issuer, then if the issuer experiences financial or operational challenges, the GS Client Account which holds the debt Securities may seek a liquidation of the issuer, whereas the Scheme which holds the equity Securities may prefer a reorganization of the issuer. In addition, Goldman Sachs proprietary accounts or GS Client Accounts may have investment objectives that are similar to those of the Scheme. This may create potential competition among the Scheme and Goldman Sachs 16
  • proprietary accounts or GS Client Accounts, particularly where there is limited availability or liquidity for those investments. For example, transactions in investments by such accounts may have the effect of diluting or otherwise negatively affecting the values, prices or investment strategies associated with Securities held by the Scheme (or vice-versa), particularly, but not limited to, in small capitalization, emerging market or less liquid strategies. o While the AMC will make decisions for the Scheme pursuant to its obligations to manage the Scheme in accordance with the SEBI Regulations and as set out in the Scheme Information Document, owing to the various business activities of Goldman Sachs is engaged in, the fees, compensation and other benefits, if any, accruing to Goldman Sachs (including benefits relating to business relationships of Goldman Sachs) from such decisions may be greater as a result of certain portfolios, investments, service providers or other decisions made by the AMC than they would have been had other decisions been made which also might have been appropriate for the Scheme. o Goldman Sachs will be under no obligation to provide to the Scheme, or cause the AMC to effect transactions on behalf of the Scheme in accordance with any market or other information, analysis, technical models or research in its possession. o To the extent and in the manner permitted by applicable Laws, the Scheme may enter into transactions in which Goldman Sachs acts as the principal, or on a proprietary basis for its customers, serves as the counterparty. The Scheme may also enter into cross transactions in which Goldman Sachs acts on behalf of the Scheme and for the other party to the transaction. For example, Goldman Sachs may represent both the Scheme and another GS Client Account on the other side of the transaction in connection with the purchase of a Security by a Scheme, and Goldman Sachs may receive compensation or other payments from either or both parties. o Regulatory restrictions (including relating to the aggregation of positions among different funds and accounts) and internal policies of Goldman Sachs may restrict investment activities of the Scheme. Information held by Goldman Sachs could have the effect of restricting investment activities of the Scheme. As a result, transactions of Goldman Sachs’ proprietary accounts or GS Client Accounts may be restricted but not for the Scheme, or vice versa. From time to time, Goldman Sachs may come into possession of unpublished price sensitive information or other information that could limit the ability of the Scheme to buy and sell Securities. The investment flexibility of the Scheme may be constrained as a consequence. The AMC is not permitted to obtain or use unpublished price sensitive information in effecting purchases and sales in public Securities transactions for the Scheme. Further, under applicable Laws, there may be limits on the aggregate amount of investments by affiliated investors that may not be exceeded without the grant of a license or other regulatory or corporate consent or, if exceeded, may cause Goldman Sachs, the Scheme or other GS Client Accounts to suffer disadvantages or business restrictions. If certain aggregate ownership thresholds are reached or certain transactions undertaken, the ability of the AMC on behalf of the Scheme to purchase or dispose of investments, or exercise rights or undertake business transactions, may be restricted by regulation or otherwise impaired. o The AMC has developed policies and procedures that provide that it will allocate investment opportunities and make purchase and sale decisions among the Scheme and other schemes managed by the AMC in a manner that it considers, in its sole discretion and consistent with its fiduciary obligation to each of the schemes managed by the AMC, to be reasonable and based upon the AMC’s good faith assessment of the best use of such limited opportunities relative to the objectives, limitations and requirements of each scheme managed by it and applying the factors set out in the respective scheme information 17
  • documents. The AMC seeks to treat all schemes managed by it in light of all factors relevant to managing each scheme, and in some cases it is possible that the application of the scheme specific factors may result in allocations in which certain schemes may receive an allocation when the Scheme does not. B. REQUIREMENT OF MINIMUM INVESTORS IN THE SCHEME The Scheme shall have a minimum of 20 investors and no single investor shall account for more than 25% of the corpus of the Scheme. However, if such limit is breached during the NFO Period of the Scheme, the Fund will endeavor to ensure that within a period of three months or the end of the succeeding calendar quarter from the close of the NFO Period of the Scheme, whichever is earlier, the Scheme complies with these two conditions. In case the Scheme does not have a minimum of 20 investors in the stipulated period, the provisions of Regulation 39(2)(c) of the SEBI Regulations would become applicable automatically without any reference from SEBI and accordingly the Scheme shall be wound up and the Units would be Redeemed at Applicable NAV. The two conditions mentioned above shall also be complied with within each subsequent calendar quarter thereafter, on an average basis, as specified by SEBI. If there is a breach of the 25% limit by any investor over the quarter, a rebalancing period of one month would be allowed and thereafter the investor who is in breach of the rule shall be given 15 days notice to Redeem his exposure over the 25 % limit. Failure on the part of the said investor to Redeem his exposure over the 25 % limit within the aforesaid 15 days would lead to automatic Redemption by the Mutual Fund on the Applicable NAV on the 15th day of the notice period. The Fund shall adhere to the requirements prescribed by SEBI from time to time in this regard. C. SPECIAL CONSIDERATIONS • The Scheme may also use various Derivative products from time to time, as would be available and permitted by SEBI, in an attempt to protect the value of the portfolio and enhance Unitholders' interest. • An investment in the Units of the Scheme does not constitute a complete investment programme and investors may wish to complement an investment in the Scheme with other types of investments. • Prospective investors should review / study this Scheme Information Document and the Statement of Additional Information carefully and in its entirety and shall not construe the contents hereof (or thereof, as applicable) or regard the summaries contained herein (or therein, as applicable) as advice relating to legal, taxation, or financial / investment matters and are advised to consult their own professional advisor(s) as to the legal, tax, financial or any other requirements or restrictions relating to the Subscription, gifting, acquisition, holding, disposal (sale, Switch or Redemption or conversion into money) of Units and to the treatment of income (if any), capitalisation, capital gains, any distribution, and other tax consequences relevant to their Subscription, acquisition, holding, capitalisation, disposal (sale, transfer, Switch or conversion into money) of Units within their jurisdiction of nationality, residence, incorporation, domicile etc. or under the laws of any jurisdiction to which they or any managed funds to be used to purchase/gift Units are subject, and also to determine possible legal, tax, financial or other consequences of subscribing / gifting, purchasing or holding Units before making an application for Units. 18
  • • No person receiving a copy of the Statement of Additional Information and/or this Scheme Information Document or any accompanying Application Form in such jurisdiction may treat the Statement of Additional Information and this Scheme Information Document or such Application Form as constituting an invitation to them to subscribe for Units or solicitation in a jurisdiction where to do so is unlawful or the person making the offer or solicitation is not qualified to do so or a person receiving the offer or solicitation may not lawfully do so, nor should they in any event use any such Application Form unless, in the relevant jurisdiction such an invitation could lawfully be made to them and such Application Form could lawfully be used without compliance of any registration or other legal requirements. It is the responsibility of any person in possession of the Statement of Additional Information and/or this Scheme Information Document or any accompanying Application Form and of any person wishing to apply for Units of the Scheme to inform himself or herself about and to observe all applicable laws and regulations of relevant jurisdictions. • Neither this Scheme Information Document, the Statement of Additional Information nor the Units have been registered in any jurisdiction outside India. The Units offered hereunder have not been and will not be registered under the United States Securities Act of 1933 for offer or sale as part of their distribution and the Fund has not been and will not be registered under the United States Investment Company Act of 1940. It should be noted that investors will not have the benefit of the substantive provisions of the laws of the United States of America, including the United States Investment Advisers Act of 1940, as amended. Therefore, subject to the ultimate discretion of the Trustees, the Units may not be offered or sold to or for the benefit of a US Person, as such term is defined herein. The Trustees/ AMC may mandatorily Redeem any Units that are held by or for the benefit of any US Person. The distribution of this Scheme Information Document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of this Scheme Information Document are required to inform themselves about, and to observe, any such restrictions and or legal compliance requirements. • The Fund, the Trustees or the AMC have not authorised any person to give any information or make any representations, either oral or written, not stated in this Scheme Information Document or the Statement of Additional Information in connection with the offer and sale of Units under the Scheme. Prospective investors are advised not to rely upon any information or representations not incorporated in this Scheme Information Document or the Statement of Additional Information as the same have not been authorised by the Fund, the Trustees or the AMC. Any Subscription, Purchase or Switch made by any person on the basis of statements or representations which are not contained in this Scheme Information Document or the Statement of Additional Information or which are inconsistent with the information contained in the Offer Document shall be solely at the risk of such investor/ Unitholder. • Redemptions due to change in the fundamental attributes of the Scheme or due to any other reasons may entail tax consequences. The Trustees, the Mutual Fund, the AMC, their directors or their employees shall not be liable for any tax consequences that may arise due to Redemptions. • Any tax benefits described in this Scheme Information Document are as available under the present taxation Laws and are available subject to conditions. The information given is included for general purpose only and is based on advice received by the AMC regarding the Laws and practice in force in India as on the date of this Scheme Information Document, and the investors should be aware that the relevant fiscal rules or their interpretation may change. As is the case with any investment, there can be no guarantee that the tax position or the proposed tax position prevailing at the time of an investment in the Scheme will endure indefinitely. In view of the individual nature of tax consequences, each investor is advised to consult his/ her own professional tax advisor. 19
  • • Special facilities: The AMC reserves the right to amend or terminate or introduce special facilities for the Scheme. Such facilities for the time being include Switch facility, Systematic Investment Plan facility, Systematic Withdrawal Plan facility and Systematic Transfer Plan facility. • Under certain circumstances, the Trustees / AMC may mandatorily Redeem Units of the Scheme as provided in Section III B ‘Ongoing Offer Details - Redemption –General Provisions’. D. DEFINITIONS – ADRs and GDRs ADRs are negotiable certificates issued to a specified number of shares (or one share) in a foreign stock that is traded on a U.S. exchange. ADRs are denominated in US$ GDRs are negotiable certificates held in the bank of one country representing a specific number of shares of a stock traded on exchange of another country. Application Form A form meant to be used by an investor to open a folio and/or Purchase Units in the Scheme. The Application Form would include forms such as the common application form, SIP auto debit (ECS) form and nomination form, as required. Asset Management Goldman Sachs Asset Management (India) Private Limited, a Company /Investment company set up under the Companies Act, 1956, having its Manager registered office at 951-A, Rational House, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025 and authorised by SEBI to act as an asset management company / investment manager to the schemes of the Mutual Fund. Applicable NAV For applications for Purchases (along with a local cheque or demand draft payable at par at the place where the application is received) / Redemptions, accepted during the Ongoing Offer Period at the place where it is received on a Business Day up to the Cut-off time of the Scheme, the NAV of that day; and For applications for Purchases (along with a local cheque or demand draft payable at par at the place where the application is received) / Redemptions accepted during the Ongoing Offer Period at the at the place where it is received on a Business Day after the Cut-off time of the Scheme, the NAV of the next Business Day shall apply. Board Board of Directors Business Day A day other than (1) Saturday and Sunday or (2) a day on which BSE or NSE or RBI or banks in Mumbai are closed or (3) a day on which there is no RBI clearing / settlement of Securities or (4) a day on which the Purchase and / or Redemption and / or Switches of Units is suspended by the Trustees / AMC or (5) a book closure period as may be announced by the Trustees / AMC. The AMC reserves the right to change the definition of 20
  • Business Day, in accordance with applicable Regulations. Provided that the days when the banks in any location where the Official Points of Acceptance are located, are closed due to a local holiday, such days will not be treated as Business Days at such locations for the purposes of accepting fresh Subscriptions. However, if the Official Points of Acceptance in such locations is open on such local holidays, then Redemption and Switch requests will be accepted at those locations provided it is a Business Day for the Scheme on an overall basis. Notwithstanding the above, the AMC may declare any day as a Business Day / non Business Day at any or all Official Points of Acceptance. Custodian JPMorgan Chase Bank, Mumbai, registered under the SEBI (Custodian of Securities) Regulations, 1996, currently acting as Custodian to the Scheme(s) or any other custodian approved by the Trustees. Cut-off time A time prescribed in this Scheme Information Document up to which an investor / Unitholder can submit a valid Purchase / Redemption request along with a local cheque or a demand draft payable at par at the place where the application is received or RTGS, to be entitled to the Applicable NAV for that Business Day. Derivatives A financial instrument, traded on or off an exchange, the price of which is directly dependent upon (i.e., "derived from") the value of one or more underlying Securities, equity indices, debt instruments, commodities, other derivative instruments, or any agreed upon pricing index or arrangement (e.g., the movement over time of the Consumer Price Index or freight rates) etc. Derivatives involve the trading of rights or obligations based on the underlying product, but do not directly transfer property Distributor Such persons / firms / companies / corporates as may be appointed by the AMC to distribute / sell / market the scheme(s) of the Fund. Dividend Income distributed by the Scheme on the Units, where applicable. Dividend Option Please refer to Section III. A (Options offered) in this Scheme Information Document for further details on the Dividend Option offered by this Scheme. Dividend Payout Please refer to Section III. A (Options offered) in this Scheme Information Document for further details on the Dividend Payout sub-option offered by this Scheme. Dividend Reinvestment Please refer to Section III. A (Options offered) in this Scheme Information Document for further details on the Dividend Reinvestment sub-option offered by this Scheme. Entry Load A Load charged to an investor on Purchase based on the amount of investment or per any other criteria decided by the AMC. 21
  • Exit Load A Load charged to the Unitholder on exiting (by way of Redemption) based on period of holding, amount of investment, or any other criteria decided by the AMC. Equity Related Include convertible bonds and debentures, options and warrants Securities carrying the right to obtain equity shares, convertible preference shares, equity schemes of mutual funds or other Securities that are directly or indirectly convertible into, or exercisable or exchangeable for or otherwise derive their performance primarily from, equity Securities. Foreign Institutional An entity registered with SEBI under Securities and Exchange Investors Board of India (Foreign Institutional Investors) Regulations, 1995 as amended from time to time. Floating Rate Floating rate instruments are debt / money market instruments Instruments issued by Central / State Governments, with interest rates that are reset periodically. The periodicity of interest reset could be daily, monthly, annually or any other periodicity that may be mutually agreed between the issuer and the Fund. Fund or Mutual Fund Goldman Sachs Mutual Fund, a trust set up under the provisions of the Indian Trusts Act, 1882 and registered with SEBI under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 vide Registration No. MF/058/08/03 dated August 26, 2008. Fund of Funds A mutual fund scheme that invests primarily in one or more other schemes of the same mutual fund or other mutual funds. Fund Manager Fund manager of the Scheme, details of whom are provided in the Section II(H) ‘Who Manages the Scheme’ of this SID. Growth Option Please refer to Section III. A ‘Options offered’ in this Scheme Information Document for further details on the Growth Option offered by this Scheme. Investment The Investment Management Agreement dated April 30, 2008 Management made by and between the AMC and the Trustee Company. Agreement Means a ‘person resident in India’, as defined under The Foreign Indian Resident Exchange Management Act 1999, as amended from time to time. Such offices of the Registrar as are designated as Investor Investor Service Service Centres by the AMC from time to time, details of which Centres are provided at the back cover page of this Scheme Information Document. Laws The laws of India, the Regulations and any other applicable regulations for the time being in force in India including guidelines, directions and instructions issued by SEBI, the GOI or RBI from time to time for regulating mutual funds generally or the Mutual Fund particularly. 22
  • Load a charge that may be levied to an investor at the time of Purchase and/or Redemption of Units of the Scheme. NAV Net Asset Value of the Units of the Scheme calculated in the manner provided in this Scheme Information Document or as may be prescribed by the Regulations from time to time. New Fund Offer The offer for Purchase made to the investors during the NFO Period. New Fund Offer The period being xxx xx, 2008 to xxx xx, 2008 subject to Period / NFO Period extension, if any. Non-Resident Indian A person resident outside India who is a citizen of India or is a Person of Indian Origin as per the meaning assigned to the term under Foreign Exchange Management (Deposit) Regulations, 2000. Offer Document Means and includes this Scheme Information Document and the Statement of Additional Information issued by Goldman Sachs Mutual Fund, offering units of the Scheme for subscription. Official Points of During NFO Period : Includes specified banks as designated by Acceptance the AMC for collection of the Application Form(s), details of which are mentioned at the back cover page of this Scheme Information Document. During the Ongoing Offer Period : Transaction Points: Includes the specified centers of the Registrar for collection of the Application Form(s)/ Transaction Slip(s), details of which are mentioned at the back cover page of this Scheme Information Document. Investor Service Centres: The specified centers of the Registrar for collection of the Application Form(s)/ Transaction Slip(s) and where investor or Distributor services are offered, details of which are mentioned at the back cover page of this Scheme Information Document. Ongoing Offer The offer of Units under the Scheme when it becomes open- ended after the closure of the New Fund Offer Period. Ongoing Offer Period The period during which the Ongoing Offer for Subscription to the Units of the Scheme is made. Options Growth Option, Dividend Option and the sub-options under the Dividend Option offered by this Scheme. Please refer to Section III. A (Options offered) in this Scheme Information Document for further details on the Options offered by this Scheme. Person of Indian A citizen of any country other than Bangladesh or Pakistan, if Origin (a) he at any time held an Indian passport; or (b) he or either of 23
  • his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or (c) the person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b). Purchase / Purchase of / subscription to Units by an investor of the Scheme. Subscription Purchase Price The price at which the Units can be purchased and calculated in the manner provided in this Scheme Information Document. RBI Reserve Bank of India, established under the Reserve Bank of India Act, 1934, as amended from time to time. Registrar Computer Age Management Services Private Limited, registered under the SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993, currently acting as registrar and transfer agent to the Scheme or any other registrar appointed by the AMC from time to time. Redemption / Redeem Repurchase of Units by the Fund from a Unitholder. Redemption Price The price (being Applicable NAV minus applicable Exit Load) at which the Units can be Redeemed and calculated in the manner provided in this Scheme Information Document. Scheme / GSIEF Goldman Sachs India Equity Fund (including, as the context permits, the Options / sub-options), launched by the Mutual Fund. SEBI Securities and Exchange Board of India established under Securities and Exchange Board of India Act, 1992, as amended from time to time. SEBI Regulations or Securities and Exchange Board of India (Mutual Funds) Regulations Regulations, 1996 as amended from time to time, including by way of guidelines, directives, circulars or notifications issued by SEBI from time to time. Securities As defined under Section 2(h) of the Securities Contracts (Regulation) Act, 1956 of India; and also includes shares, stocks, bonds, debentures, warrants, instruments, obligations, money market instruments, debt instruments or any financial or capital market instrument of whatsoever nature made or issued by any statutory authority or body corporate, incorporated or registered by or under any law; or any other securities, assets or such other investments as may be permissible from time to time under the Regulations. Sponsor or Settlor Goldman Sachs Asset Management, L.P, through its wholly owned subsidiary namely Goldman Sachs India Holdings Limited. Statement of The Statement of Additional Information issued by the Mutual Additional Information Fund from time to time. 24
  • SIP / Systematic A plan enabling investors to save and invest in the Scheme on a Investment Plan monthly/ quarterly basis by submitting payment instructions. SWP / Systematic A plan enabling Unitholders to withdraw amounts from the Withdrawal Plan Scheme on a monthly or quarterly basis by giving a single instruction. Switch Redemption of a unit in one scheme / option of the Mutual Fund against purchase of a unit in another scheme / option of the Mutual Fund. Switch-in Purchase of Unit(s) of the Scheme / Option against redemption of unit(s) in another scheme of the Mutual Fund / Option. Switch-out Redemption of Unit(s) of the Scheme / Option against purchase of unit(s) in another scheme of the Mutual Fund / Option. Trustees The Board of the Trustee Company of Goldman Sachs Mutual Fund and approved by SEBI to act as the trustees of the schemes of the Fund or any other Trustees as may be appointed from time to time by the Sponsor and as approved by SEBI. Transaction Slip A form meant to be used by Unitholders seeking additional Purchase or Redemption of Units in the Scheme, change in bank account details, change of personal information of the Unitholder, Switch-in or Switch-out and such other facilities offered by the AMC and mentioned on that form. Trustee Company Goldman Sachs Trustee Company (India) Private Limited, a company set up under the Companies Act 1956, to act as the trustee company to the Goldman Sachs Mutual Fund. Trust Deed The Deed of Trust dated April 30, 2008 made by and between the Sponsor and the Trustee Company establishing the Mutual Fund, as amended from time to time. Unit The interest of an investor in the Scheme, which consists of each Unit representing one undivided share in the assets of the Scheme and includes any fraction of a Unit which shall represent the corresponding fraction of one undivided share in the assets of the Scheme. Unit Capital The aggregate of the face value of the Units issued under the Scheme. A holder of Units of the Scheme offered under this Scheme Unitholder Information Document. US Person Such person as is designated as a US Person for the purposes of Regulation S of the US Securities Act of 1933 from time to time and which, as at the date of this Scheme Information Document, includes the following: any natural person resident in the United States; any partnership or corporation organized or incorporated under the laws of the United States; any estate of which any executor or administrator is a US person; any trust of which any 25
  • trustee is a US person; any agency or branch of a foreign entity located in the United States; any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit or account of a US person; any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States; and any partnership or corporation if: (i) organized or incorporated under the laws of any foreign jurisdiction; and (ii) formed by a US person principally for the purpose of investing in securities not registered under the US Securities Act of 1933, unless it is organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) of the US Securities Act of 1933) who are not natural persons, estates or trusts. Abbreviations: ADR American Depository Receipt AMC Asset Management Company AMFI Association of Mutual Funds in India AOP Association of Persons BOI Body of Individuals BSE Bombay Stock Exchange Limited CAMS Computer Age Management Services Private Limited ECS Electronic Clearing System EPS Earning Per Share ETF Exchange Traded Funds FIFO First-in - First-out FII Foreign Institutional Investor GDR Global Depository Receipt GOI Government of India GSIEF Goldman Sachs India Equity Fund IMA Investment Management Agreement ISC Investor Service Centre ISDA International Swaps and Derivatives Association, Inc. NAV Net Asset Value NEFT National Electronic Funds Transfer NPA Non-Performing Asset NRI Non-Resident Indian NSE National Stock Exchange of India Limited PAN Permanent Account Number PIO Persons of Indian Origin RBI Reserve Bank of India RTGS Real Time Gross Settlement SAI Statement of Additional Information SEBI Securities and Exchange Board of India established under the SEBI Act. SEBI Securities and Exchange Board of India Act, 1992 Act SID Scheme Information Document STT Securities Transaction Tax TDS Tax Deducted at Source 26
  • US$ United States Dollar(s) Interpretation For all purposes of this Scheme Information Document, except as otherwise expressly provided or unless the context otherwise requires: The terms defined in this Scheme Information Document include the plural as well as the singular. • Pronouns having a masculine or feminine gender shall be deemed to include the other. • All references to "US$" refer to United States Dollars and "Rs." refer to Indian Rupees. A "crore" means "ten million" and a "lakh" means a "hundred thousand". • The contents of the Scheme Information Document are applicable to the Scheme covered under this Scheme Information Document, unless specified otherwise. E. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY A Due Diligence Certificate, duly signed by the Compliance Officer of the AMC, has been submitted to SEBI on September 4, 2008 which reads as follows: It is confirmed that: (i) the draft Scheme Information Document forwarded to SEBI is in accordance with the SEBI (Mutual Funds) Regulations, 1996 and the guidelines and directives issued by SEBI from time to time. (ii) all legal requirements connected with the launching of the Scheme as also the guidelines and instructions, etc. issued by the Government and any other competent authority in this behalf have been duly complied with. (iii) the disclosures made in the Scheme Information Document are true, fair and adequate to enable the investors to make a well informed decision regarding investment in the proposed scheme. (iv) the intermediaries named in the Scheme Information Document and Statement of Additional Information are registered with SEBI and their registration is valid, as on date. For Goldman Sachs Asset Management (India) Private Limited (Investment Manager to Goldman Sachs Mutual Fund) Sd/ Place: Mumbai Name: Pranita Gramopadhye Date : September 4, 2008 Designation: Compliance Officer II. INFORMATION ABOUT THE SCHEME A. TYPE OF THE SCHEME – An open-ended equity scheme. B. WHAT IS THE INVESTMENT OBJECTIVE OF THE SCHEME? The investment objective of the Scheme is to seek to generate long-term capital growth from an actively managed portfolio primarily of equity and Equity Related Securities. There can be no assurance that the investment objective of the Scheme will be realised. C. HOW WILL THE SCHEME ALLOCATE ITS ASSETS? Under normal circumstances, the asset allocation of the Scheme will be as follows: 27
  • Indicative allocations (% of net Risk Profile Instruments assets) Maximum Minimum High / Medium / Low Equities & Equity Related Up to 100% 65% High Securities Debt Securities & Money Up to 35% 0% Low to medium market instruments (including cash & cash equivalents) If the Scheme decides to invest in securitised debt, it is the intention of the Fund Manager that such investments will not normally exceed 30% of the net assets of the Scheme and if the Scheme decides to invest in ADRs / GDRs issued by Indian / foreign companies and in foreign Securities in accordance with SEBI Regulations, it is the intention of the Fund Manager that such investments will not normally exceed 30% of the net assets of the Scheme. If the Scheme decides to invest in Derivatives it is the intention of the Fund Manager that such investments will not normally exceed 50% of the net assets of the Scheme. Further, the Fund Manager may engage in short selling of Securities in accordance with the Regulations. These limits will be reviewed by the AMC from time to time based on views on the equity markets and asset liability management needs. However, at all times the portfolio of the Scheme will adhere to the overall investment objective of the Scheme. Investors may note that investments, which provide higher returns, typically display higher volatility. Accordingly, the investment portfolio of the Scheme is expected to reflect moderate to high volatility in its equity and Equity Related Securities investments and low to moderate volatility in its debt and money market investments. Subject to the Regulations as applicable from time to time, the Scheme may, if the Trustees permit participate in Securities lending. Securities lending means the lending of Securities to another person or entity for a fixed period of time at a negotiated compensation in order to enhance returns of the portfolio. The Securities lent would have to be returned by the borrower on the expiry of the stipulated period. The AMC will adhere to strict limits should it engage in Securities lending. Collateral would always be obtained by the approved intermediary from such borrower. Collateral value would always be more than the value of the Securities lent. Collateral can be in form of cash, bank guarantee, and government Securities, as may be agreed upon with the approved intermediary. The Scheme, under normal circumstances, shall not have exposure of more than 50% of its net assets in Securities lending and shall not lend more than 50% of its net assets to any one intermediary to whom Securities will be lent. For detailed understanding on Securities lending by the Scheme, investors are requested to refer to the SAI. Change in Asset Allocation Subject to the Regulations, the asset allocation pattern indicated above for the Scheme may change from time to time, keeping in view market conditions, market opportunities, applicable regulations and political and economic factors. It must be clearly understood that the percentages stated above are only indicative and not absolute and that they can vary substantially depending upon the perception of the Fund Manager, the intention being at all times to seek to protect the interests of the Unitholders, and meet the objective of the Scheme. Such changes in the asset allocation will be for short term and defensive considerations. Provided further and subject to the above, any change in the asset allocation affecting the 28
  • investment profile of the Scheme shall be effected only in accordance with the provisions of sub regulation (15A) of Regulation 18 of the Regulations, as detailed in Section II (F) ‘Fundamental Attributes’ of this Scheme Information Document. D. WHERE WILL THE SCHEME INVEST? The corpus of the Scheme will be invested primarily in equity and Equity Related Securities. The Scheme may invest its corpus in debt and money market instruments. Subject to the Regulations and other prevailing Laws as applicable, the corpus of the Scheme can be invested in any (but not exclusively) of the following Securities: • Equity and Equity Related Securities. • Debt Securities and money market instruments. • Derivatives as may be permitted by SEBI / RBI. • Foreign Securities as may be permitted by SEBI / RBI. • Any other instruments as may be permitted by RBI / SEBI / such other regulatory authorities under prevailing Laws from time to time. The Securities mentioned above could be listed, unlisted, privately placed, secured, unsecured, rated or unrated and of any maturity. The Securities may be acquired through initial public offerings, secondary market operations, and private placement, rights offers or negotiated transactions. Policy on Offshore Investments by the Scheme As per SEBI Circular dated September 26, 2007 and April 8, 2008, mutual funds can invest in ADRs/GDRs/foreign Securities within the overall limit of US$7 billion and subject to a maximum of US $300 million per mutual fund. As per SEBI Circular dated September 26, 2007, mutual funds can make investments in i. ADRs/GDRs issued by Indian or foreign companies ii. Equity of overseas companies listed on recognized stock exchanges overseas iii. Initial and follow on public offerings for listing at recognised stock exchange overseas. iv. Foreign debt securities in the countries with fully convertible currencies, short term as well as long term debt instruments with rating not below investment grade by a accredited/ registered credit rating agencies. v. Money market instruments rated not below investment grade vi. Repos in the form of investment, where the counterparty is rated not below the investment grade; repos should not however, involve any borrowing of funds by mutual funds. vii. Government securities where the countries are rated not below investment grade viii. Derivatives traded on recognised stock exchanges overseas only for hedging and portfolio balancing with underlying as securities. ix. Short term deposits with banks overseas where the issuer is rated not below investment grade. x. Units/securities issued by overseas mutual funds or unit trusts registered with overseas regulators and investing in (a) aforesaid securities, (b) Real Estate Investment Trusts (REITs) listed in recognised stock exchanges overseas or (c) unlisted overseas securities (not exceeding 10% of their net assets). 29
  • The overall ceiling for investment in overseas ETFs that invest in securities is US$1 billion subject to maximum of US $ 50 million per mutual fund. The overseas investments may be listed on recognised stock exchanges including but not limited to the New York Stock Exchange, the London Stock Exchange, the Singapore Stock Exchange, the Luxembourg Stock Exchange, etc. It is the AMC's belief that the above instruments offer new investment and portfolio diversification opportunities into multi-market and multi-currency products. However, such investments also entail additional risks. Such investment opportunities may be pursued by the AMC provided they are considered appropriate in terms of the overall investment objectives of the Scheme. The Trustees may then, if necessary, seek applicable permission from SEBI to invest abroad in accordance with the investment objectives of the Scheme and in accordance with any guidelines issued by SEBI from time to time. The Fund Manager would look to invest in such instruments in order to diversify the portfolio in terms of the variety of instruments held and enhance returns by taking advantage of market movements in global markets, which may or may not be in sync with the Indian markets. The Fund Manager will look to identify and capture profitable opportunities as and when they arise. Investments in foreign Securities will be made subject to any / all approvals and conditions thereof as may be stipulated by SEBI / RBI being fulfilled and provided such investments do not result in expenses to the Scheme in excess of the ceiling, if any, on expenses prescribed by SEBI for offshore investments, and if no such ceiling is prescribed by SEBI, the expenses to the Scheme shall be limited to the level which, in the opinion of the Trustees, is reasonable and consistent with costs and expenses attendant to international investing. The Trustees and the Board of the AMC may, where necessary, appoint other intermediaries of repute as advisors, sub-custodians, etc. for managing and administering such investments. The appointment of such intermediaries shall be in accordance with the applicable requirements of SEBI and within the permissible ceilings of expenses. The fees and expenses would illustratively include, besides the investment management fees, custody fees and costs, fees of appointed advisors and sub-managers, transaction costs and overseas regulatory costs. Position of Debt Markets in India Subject to the Regulations and other prevailing Laws as applicable, the Scheme may invest in debt Securities including but not limited to government Securities, corporate debentures, bonds, money market instruments, pass-through certificates, fixed income securities, securitised debt, zero coupon bonds, deferred interest bonds and such other similar Securities. The major players in the Indian debt markets today are banks, financial institutions, insurance companies and mutual funds. The instruments in the market can be broadly categorised as those issued by corporates, banks, financial institutions and those issued by State / Central Governments. Liquidity in the corporate debt market has been improving due to the entry of more market participants and due to various measures taken by the regulators in this direction over a period of time. SEBI's directive of a compulsory rating by a rating agency for any public issuance over 18 months, dematerialisation, entry of private insurance companies, listing of debt Securities and growth of fixed income mutual funds have enhanced liquidity in the corporate debt market. The setting up of clearing corporations, RTGS and ECS for government Securities have considerably enhanced the depth and width of the Indian debt markets and bringing it at par with developed markets. 30
  • The following table attempts to give a broad overview of the available instruments in the financial markets and their risk - return profile. The data is based on the market conditions as on the date of the Scheme Information Document and may vary substantially depending upon the factors and forces affecting the Securities market including the fluctuations in the interest rates. The indicative yields and liquidity on various Securities, currently, are as below : Issuer Instrument Maturity Yields Liquidity GOI Treasury Bill 91 days 9.00-9.15% Medium GOI Treasury Bill 364 days 9.15-9.30% Medium GOI Short Dated 1-3 Yrs 9.20-9.35% Low GOI Medium Dated 3-5 Yrs 8.80%-9.05% Low GOI Medium Dated 5-10 Yrs 8.80%-9.05% High GOI Long Dated 10-15Yrs 8.65-9.60% High GOI Long Dated >15Yrs 9.60-9.80% Low to Medium GOI Reverse Repo / 1-14 days 5.50-9.50% High CBLO Corporate Taxable Bonds 364 days 11.10-12.50% Low to Medium Debt (AAA) Corporate Taxable Bonds 1-3 Yrs 10.90-12.00% Low to Medium Debt (AAA) Corporate Taxable Bonds 3-5 Yrs 10.80-12.25% Medium Debt (AAA) Corporate Taxable Bonds 5-10 Yrs 10.75-11.50% Medium Debt (AAA) Corporate Floating Rate Bond 364 days NM+ (1.25- Low to Medium Debt (AAA) 3.00)% Corporate Floating Rate Bond 1-3 Yrs NM+ (1.50- Low to Medium Debt (AAA) 2.50)% Corporate Floating Rate Bond 3-5 Yrs NM+ (1.25- Medium Debt (AAA) 2.75)% Corporate CPs (P1+) 3 months 11-12% Medium Debt Corporate CPs (P1+) 1 Year 11.25-12.00% Medium Debt Note : The indicative yields and liquidity of various Securities mentioned above may change from time to time. Concepts and Examples of Investing in Derivatives Derivatives are financial contracts whose values are derived from the value of underlying primary financial instruments. Trading in Derivatives The Scheme may invest in Derivatives including stock index futures, options on stocks and stock indices, interest rate swaps, forward rate agreements or such other Derivatives as may be introduced from time to time as permitted under the Regulations and applicable Laws. . 31
  • Exposure to Derivatives The Scheme shall have Derivative exposure in accordance with the guidelines issued under the Regulations from time to time. The Scheme shall under normal circumstances not have exposure of more than 50% of its net assets in Derivatives. These limits will be reviewed by the AMC, from time to time In accordance with SEBI circulars dated September 14, 2005, January 20, 2006 and September 22, 2006, the following conditions shall apply to the Scheme's participation in the Derivatives market. Please note that the investment restrictions applicable to the Scheme's participation in the Derivatives market will be as prescribed or varied by SEBI or by the Trustees (subject to SEBI requirements) from time to time. The position limits for the Scheme are as under: Position limit for Mutual Fund in index options contracts • The Mutual Fund position limit in all index options contracts on a particular underlying index shall be Rs. 500 crore or 15% of the total open interest of the market in index options, whichever is higher, per stock exchange. • This limit would be applicable on open positions in all options contracts on a particular underlying index. Position limit for Mutual Fund in index futures contracts: • The Mutual Fund position limit in all index futures contracts on a particular underlying index shall be Rs. 500 crore or 15% of the total open interest of the market in index futures, whichever is higher, per stock exchange. • This limit would be applicable on open positions in all futures contracts on a particular underlying index. Additional position limit in index Derivatives for hedging: In addition to the position limits in index options and index futures contracts above, the Mutual Fund may take exposure in equity index Derivatives subject to the following limits: • Short positions in index Derivatives (short futures, short calls and long puts) shall not exceed (in notional value) the Mutual Fund's holding of stocks. • Long positions in index Derivatives (long futures, long calls and short puts) shall not exceed (in notional value) the Mutual Fund's holding of cash, government Securities, treasury bills and similar instruments. Position limit for Mutual Fund for stock based Derivative contracts The Mutual Fund position limit in a Derivative contract on a particular underlying stock, i.e. stock option contracts and stock futures contracts is defined in the following manner: • For stocks having applicable market-wise position limit (MWPL) of Rs. 500 crores or more, the combined futures and options position limit shall be 20% of applicable MWPL or Rs. 300 crores, whichever is lower and within which stock futures position cannot exceed 10% of applicable MWPL or Rs. 150 crores, whichever is lower. • For stocks having applicable market-wise position limit (MWPL) less than Rs. 500 crores, the combined futures and options position limit would be 20% of applicable MWPL and futures position cannot exceed 20% of applicable MWPL or Rs. 50 crore which ever is lower. Position limit for each scheme of a Mutual Fund 32
  • The scheme-wise position limit / disclosure requirements shall be: • For stock option and stock futures contracts, the gross open position across all Derivative contracts on a particular underlying stock of a scheme of a mutual fund shall not exceed the higher of: 1% of the free float market capitalisation (in terms of number of shares) or 5% of the open interest in the Derivative contracts on a particular underlying stock (in terms of number of contracts). • This position limit shall be applicable on the combined position in all Derivative contracts on an underlying stock at a stock exchange. For index based contracts, the Mutual Fund shall disclose the total open interest held by its scheme or all schemes put together in a particular underlying index, if such open interest equals to or exceeds 15% of the open interest of all Derivative contracts on that underlying index Interest Rate Swaps (IRS) and Forward Rate Agreements (FRAs) Benefits Bond markets in India are not very liquid. Investors run the risk of illiquidity in such markets. Investing for short-term periods for liquidity purposes has its own risks. Investors can benefit if the Scheme remains in call market for the liquidity and at the same time takes advantage of the fixed rate by entering into a swap. It adds certainty to the returns without sacrificing liquidity. IRS An IRS is an agreement between two parties (counter parties) to exchange, on particular dates in the future, one series of cash flows (fixed interest) for another series of cashflows (variable or floating interest) in the same currency and on the same principal for an agreed period of time. The exchange of cashflows need not occur on the same date. As Floating Rate Instruments tend to be relatively less liquid, swapping a fixed rate instrument into floating returns can help in improving the liquidity of the Scheme. FRA A FRA is an agreement between two counter parties to pay or to receive the difference between an agreed fixed rate (the FRA rate) and the interest rate prevailing on a stipulated future date, based on a notional amount, for an agreed period. In short, in a FRA, interest rate is fixed now for a future period. The special feature of FRAs is that the only payment is the difference between the FRA rate and the reference rate and hence are single settlement contracts. As in the case of IRS, notional amounts are not exchanged. Basic Structure of a Swap Assume that the Scheme has a Rs. 20 crore floating rate investment linked to MIBOR (Mumbai Inter Bank Offered Rate). Hence, the Scheme is currently running an interest rate risk and stands to lose if the interest rate moves down. To hedge this interest rate risk, the Scheme can enter into a 6 month MIBOR swap. Through this swap, the Scheme will receive a fixed predetermined rate (assume 12% p.a.) and pays the "benchmark rate" (MIBOR), which is fixed by the National Stock Exchange (NSE) or any other agency such as Reuters. This swap would effectively lock-in the rate of 12% for the next 6 months, eliminating the daily interest rate risk. This is usually routed through an intermediary who runs a book and matches deals between various counterparties. The steps will be as follows: 33
  • • Assuming the swap is for Rs.20 crore from June 1, 2008 to December 1, 2008. The Scheme is a fixed rate receiver at 12% and the counterparty is a floating rate receiver at the overnight rate on a compounded basis (say NSE MIBOR). • On June 1, 2008 the Scheme and the counterparty will exchange only a contract of having entered into this swap. This documentation would be as per the ISDA. • On a daily basis, the benchmark rate fixed by NSE will be tracked. • On December 1, 2008 the following will be calculated : o The Scheme is entitled to receive interest on Rs. 20 crore at 12% for 184 days i.e. Rs. 1.21 crore, (this amount is known at the time the swap was concluded) and will pay the compounded benchmark rate. o The counterparty is entitled to receive the daily compounded call rate for 184 days and pay 12% fixed. • On December 1, 2008, if the total interest on the daily overnight compounded benchmark rate is higher than Rs. 1.21 crore, the Scheme will pay the difference to the counter party. If the daily compounded benchmark rate is lower, then the counterparty will pay the Scheme the difference. • Effectively the Scheme earns interest at the rate of 12% p.a. for 6 months without lending money for 6 months fixed, while the counterparty pays interest @ 12% p.a. for 6 months on Rs. 20 crore, without borrowing for 6 months fixed. Swaps have their own drawbacks including credit risk vis-à-vis the counter party, settlement risk, etc. However, these risks are substantially reduced as the amount involved is interest streams and not principal. Index Futures A futures contract is an agreement between the buyer and the seller for the purchase and sale of a particular asset at a specific price on a specific future date. The price at which the underlying asset would change hands in the future is agreed upon at the time of entering into the contract. The actual purchase or sale of the underlying asset involving payment of cash and delivery of the instrument does not take place until the contracted date of delivery. A futures contract involves an obligation on both the parties to fulfill the terms of the contract. Benefits • Investment in stock index futures can give exposure to the index without directly buying the individual stocks. Appreciation in index stocks can be effectively captured through investment in stock index futures. • The Scheme can sell futures to hedge against market movements effectively without actually selling the stocks it holds. The stock index futures are instruments designed to give exposure to the equity market indices. The BSE and the NSE have started trading in index futures of 1, 2 and 3 month maturities. The pricing of an index future is the function of the underlying index and interest rates. Illustration Spot Index: 1070 1 month nifty future price on day 1: 1075. Scheme buys 100 lots. Each lot has a nominal value equivalent to 200 units of the underlying index Situation 1 Let us say that on the date of settlement, the future price = closing spot price = 1085 Profits for the Scheme = (1085-1075)* 100 lots * 200 = Rs 200,000 34
  • Situation 2 Let us say that on the date of settlement, the future price = Closing spot price = 1070 Loss for the Scheme = (1070-1075)* 100 lots * 200 = (Rs 100,000) The net impact for the Scheme will be in terms of the difference between the closing price of the index and cost price (ignoring margins for the sake of simplicity). Thus, it is clear from the example that the profit or loss for the Scheme will be the difference of the closing price (which can be higher or lower than the purchase price) and the purchase price. The risks associated with index futures are similar to the one with equity investments. Additional risks could be on account of illiquidity and hence mispricing of the future at the time of purchase. Buying Options An option is a contract which provides the buyer of the option (also called the holder) the right, without the obligation, to buy or sell a specified asset at an agreed price on or up to a particular date. For acquiring this right the buyer has to pay a premium to the seller. The seller on the other hand has the obligation to buy or sell that specified asset at the agreed price. The premium is determined considering number of factors such as the underlying asset's market price, the number of days to expiration, strike price of the option, the volatility of the underlying asset and the risk less rate of return. The strike price, the expiration date and the market lots are specified by the exchanges. Benefits of buying a call option Buying a call option on a stock or index gives the owner the right, but not the obligation, to buy the underlying stock / index at the designated strike price. Here the downside risks are limited to the premium paid to purchase the option. Illustration If the Scheme buys a 1 month call option on Company ‘X’ at a strike of Rs. 190, the current market price being say Rs.191. The Scheme will have to pay a premium of say Rs. 15 to buy this call. If the stock price goes below Rs. 190 during the tenure of the call, the Scheme avoids the loss it would have incurred had it straightaway bought the stock instead of the call option. The Scheme gives up the premium of Rs. 15 that has to be paid in order to protect the Scheme from this probable downside. If the stock goes above Rs. 190, it can exercise its right and own Company ‘X’ at a cost price of Rs. 190, thereby participating in the upside of the stock. Benefits of buying a put option Buying a put option on a stock originally held by the buyer gives him / her the right, but not the obligation, to sell the underlying stock at the designated strike price. Here the downside risks are limited to the premium paid to purchase the option. Illustration If the Scheme owns Company ‘X’ and also buys a three-month put option on Company ‘X’ at a strike of Rs. 190, the current market price being say Rs.191. The Scheme will have to pay a premium of say Rs. 12 to buy this put. If the stock price goes below Rs. 190 during the tenure of the put, the Scheme can still exercise the put and sell the stock at Rs. 190, avoiding therefore any downside on the stock below Rs. 190. The Scheme gives up the fixed premium of Rs. 12 that has to be paid in order to protect the Scheme from this probable downside. If the stock goes above Rs. 190, say to Rs. 220, it will not exercise its option. The Scheme will participate in the upside of the stock, since it can now sell the stock at the prevailing market price of Rs. 220. 35
  • Writing Options Benefits of writing an option with underlying stock holding (Covered call writing) Covered call writing is a strategy where a writer (say the Scheme) will hold a particular stock, and sell in the market a call option on the stock. Here the buyer of the call option now has the right to buy this stock from the writer (the Scheme) at a particular price which is fixed by the contract (the strike price). The writer receives a premium for selling a call, but if the call option is exercised, he has to sell the underlying stock at the strike price. This is advantageous if the strike price is the level at which the writer wants to exit his holding / book profits. The writer effectively gains a fixed premium in exchange for the probable opportunity loss that comes from giving up any upside if the stock goes up beyond the strike price. Illustration Let us take for example Company ‘Y’, where the Scheme holds stock, the current market price being Rs. 3600. The Fund Manager holds the view that the stock should be sold when it reaches Rs. 3700. Currently the 1 month 3700 calls can be sold at say Rs.150. Selling this call gives the call owner the right to buy from the Scheme, Company ‘Y’ at Rs. 3700. Now the Scheme by buying / holding the stock and selling the call is effectively agreeing to sell Company ‘Y’ at Rs. 3700 when it crosses this price. So the Scheme is giving up any possible upside beyond Rs. 3700. However, the returns for the Scheme are higher than what it would have got if it just held the stock and decided to sell it at Rs. 3700. This is because the Scheme by writing the covered call gets an additional Rs. 150 per share of Company ‘Y’. In case the price is below Rs. 3700 during the tenure of the call, then it will not be exercised and the Scheme will continue to hold the shares. Even in this case the returns are higher than if the Scheme had just held the stock waiting to sell it at Rs. 3700. Benefits of writing put options with adequate cash holding Writing put options with adequate cash holdings is a strategy where the writer (say, the Scheme) will have an amount of cash and will sell put options on a stock. This will give the buyer of this put option the right to sell stock to the writer (the Scheme) at a pre-designated price (the strike price). This strategy gives the put writer a premium, but if the put is exercised, he has to buy the underlying stock at the designated strike price. In this case the writer will have to accept any downside if the stock goes below the exercise price. The writer effectively gains a fixed premium in exchange for giving up the opportunity to buy the stock at levels below the strike price. This is advantageous if the strike price is the level at which the writer wants to buy the stock. Illustration Let us take for example, that the Scheme wants to buy Company ‘Y’at Rs. 3500, the current price being Rs. 3600. Currently the three-month puts can be sold at say Rs. 100. Writing this put gives the put owner the right to sell to the Scheme, Company ‘Y’ at Rs. 3500. Now the Scheme by holding cash and selling the put is agreeing to buy Company ‘Y’ at Rs. 3500 when it goes below this price. The Scheme will take on itself any downside if the price goes below Rs. 3500. But the returns for the Scheme are higher than what it would have got if it just waited till the price reached this level and bought the stock at Rs. 3500, as per its original view. This is because the Scheme by writing the put gets an additional Rs. 100 per share of Company ‘Y’. In case the price stays above Rs. 3500 during the tenure of the put, then it will not be exercised and the Scheme will continue to hold cash. Even in this case the returns are higher than if the Scheme had just held cash waiting to buy Company ‘Y’ at Rs. 3500. 36
  • The above information provides a basic idea as to the nature of the Derivatives proposed to be used by the Scheme and the benefits and risks attached therewith. Please note that the examples are based on assumptions and have been given for illustration purposes only. E. WHAT ARE THE INVESTMENT STRATEGIES? Investment Approach and Risk Control The investment objective of the Scheme is to seek to generate long-term capital growth from an actively managed portfolio primarily of equity and Equity Related Securities. There can be no assurance that the investment objectives of the Scheme will be realised. Since investing requires disciplined risk management, the AMC would incorporate safeguards seeking to control risks in the portfolio construction process. Risk is also expected to be reduced through diversification of the portfolio, which the AMC aims to achieve by spreading the investments over a range of industries, sectors and market capitalisations. The Scheme may also invest in unlisted and / or privately placed Securities and / or unrated debt Securities, subject to the limits indicated under Section II (I) "Investment Restrictions for the Scheme" in this Scheme Information Document. If investment is made in unrated debt Securities, the approval of the Board of the AMC and the Trustees or the investment management committee (within the broad parameters approved by the Board of the AMC and the Trustees) shall be obtained, as per the Regulations. As per the asset allocation pattern indicated above, the Scheme may invest a part of the portfolio in various debt Securities issued by corporates and/or State and Central Government. Government securities may include Securities which are supported by the ability to borrow from the treasury or supported only by the sovereign guarantee or of the State Government or supported by GOI or any other State Government in some other way. Strategy for investments in Derivatives The Fund Manager may use Derivatives like IRSs, FRAs or such other Derivatives as may be introduced from time to time for the purpose of hedging and portfolio balancing and to seek to achieve the investment objectives of the Scheme, as may be permitted under the Regulations. Investment in such instruments will be made in accordance with the investment objective and the strategy of the Scheme to protect the value of the portfolio and to enhance returns. Strategy for investments in overseas markets The Fund Manager may invest in overseas markets in accordance with the investment objective of the Scheme, so as to protect the value of the portfolio and to enhance returns. Investment in other Schemes The Scheme may invest in other scheme(s) managed by the AMC or in the schemes of any other mutual fund, provided it is in conformity with the investment objectives of the Scheme and in terms of the prevailing Regulations. As per the Regulations, the AMC will not charge investment management fees for such –investments. Investments by the AMC in the Scheme The AMC may invest in the Scheme at any time during the NFO Period / Ongoing Offer Period, subject to the Regulations and to the extent permitted by its Board from time to time. As per the existing Regulations, the AMC will not charge investment management and advisory fee on the investment made by it in the Scheme. 37
  • Portfolio Turnover Portfolio turnover is defined as the aggregate value of investment and disinvestment in equity / Equity Related Securities (other than those caused by the Purchases and Redemptions by Unitholders) as a percentage of the average corpus of the Scheme during a specified period of time. This would exclude investments / disinvestments in money market instruments. The Fund Manager may normally buy stocks which he believes will deliver superior earnings growth over the long term and hence the portfolio turnover of the Scheme is not expected to be very high. However, during volatile market conditions, the Fund Manager has the flexibility to churn the portfolio actively to optimize returns keeping in mind the cost associated with it. The Fund Manager depending on their view and subject to there being an opportunity, may trade in Securities, which may result in an increase in the portfolio turnover. There may be an increase in transaction costs such as the brokerage paid, if trading is done frequently. However, the cost would be negligible as compared to the total expenses of the Scheme. Frequent trading may increase the profits which will offset the increase in costs. Procedure followed for Investment Decisions The Fund Manager of the Scheme is responsible for making buy / sell decisions for the Scheme's portfolio and will seek to develop a well diversified portfolio that minimizes liquidity and credit risk. The investment decisions are made on an ongoing basis keeping in view the market conditions and other relevant aspects. The Board of the AMC has constituted an Investment Management Committee, currently comprising of the CEO, Fund Manager and Head of Compliance, that meets at periodic intervals. The investment management committee’s role is to formulate broad investment strategies for the Scheme, including investments in unrated debt instruments, reviewing performance of the Schemes and general market outlook. The approval of unrated debt instruments is based on detailed parameters laid down by the Board of the AMC and the Trustees. The details of such investments are communicated by the AMC to the Trustees in their periodical reports along with a disclosure regarding how the parameters have been complied with. Such reporting shall be in the manner prescribed by SEBI from time to time. The Investment Management Committee also reviews the performance of the Scheme and general market outlook and formulates the broad investment strategy at their meetings. The Fund Manager, is responsible for facilitating investment debate and a robust investment culture. After conducting a thorough fundamental and valuation analysis, the research analyst(s) will recommend the most attractive investment ideas for inclusion in the portfolio. The investment team comprising of the Fund Manager and the research analyst(s) would hold on-going meetings, as well as additional ad-hoc meetings as needed, to explore the investment thesis of individual ideas and to challenge the range of assumptions used by the respective analysts. It is the responsibility of the AMC to seek to ensure that the investments are made as per the Regulatory guidelines, the investment objectives of the Scheme and in the interest of the Unitholders of the Scheme. The AMC will keep a record of all investment decisions in accordance with the guidelines issued by SEBI. F. FUNDAMENTAL ATTRIBUTES The investment objective together with the investment approach and the investment pattern will comprise the principal fundamental attributes of the Scheme. Following are the fundamental attributes of the Scheme, in terms of Regulation 18 (15A) of the SEBI (MF) Regulations: 38
  • "Fundamental Attributes" in the context of the Scheme will be: (i) Type of scheme Open ended equity scheme. (ii) Investment Objective The investment objective of the Scheme is to seek to generate long-term capital growth from an actively managed portfolio primarily of equity and Equity Related Securities. (iii) Terms of Issue (a) Listing: The Scheme being open ended, under which Purchase and Redemption of Units will be made on a continuous basis by the Mutual Fund, the Units of the Scheme are generally not proposed to be listed on any stock exchange. However, the Trustees may at its sole discretion, list the Units under the Scheme on one or more stock exchanges at a later date. (b) Redemption of Units: Investors may submit their Redemption / Switch-out request on any Business Day at Applicable NAV based prices, subject to prevalent Load provisions, if any. The Redemption will be processed as per the cut off timing and desired amount/ number of Units will be Redeemed at the Applicable NAV on such date after charging the applicable Exit Load, if any. Please refer to Section III (C) ‘Cut-off timings for Subscriptions/ Redemptions / Switches in this Scheme Information Document. For detailed fees and expenses charged to the Scheme, please refer to Section IV ‘Fees and Expenses’ in this Scheme Information Document. (c) Aggregate fees and expenses charged to the Scheme: As per the Regulations, the maximum recurring expenses including the investment management and advisory fee that can be charged to the Scheme shall be subject to a percentage limit of the average daily/ weekly net assets of the Scheme as given in the table below. Subject to the SEBI Regulations, expenses over and above the prescribed ceiling will be borne by the AMC. First Rs 100 Crores Next Rs 300 Next Rs 300 Over Rs 700 Crores Crores Crores 2.50% 2.25% 2.00% 1.75% As per the Regulations, the AMC is entitled to an investment management and advisory fee at the rate of of 1.25% per annum of the daily/ weekly average net assets of the Scheme in each accounting year for the Scheme, as long as the net assets do not exceed Rs. 100 crore and 1.00% of the excess amount over Rs. 100 crore, where net assets so calculated exceed Rs. 100 crore. The AMC is entitled to collect an additional management fee not exceeding 1% of the daily/ weekly average net assets outstanding in each financial year, for schemes that charge no loads. However, the total investment management fees shall be within the overall limits of recurring expenses allowed under the Regulations as set forth above. (d) There is no assurance or guarantee of returns or that the Scheme will meet its investment objectives. In accordance with Regulation 18(15A) of the SEBI Regulations, the Trustees shall ensure 39
  • that no change in the fundamental attributes of the Scheme and the Option(s) thereunder or the trust or fee and expenses payable or any other change which would modify the Scheme and the Option(s) thereunder and affect the interests of Unitholders is carried out unless: • A written communication about the proposed change is sent to each Unitholder and an advertisement is given in one English daily newspaper having nationwide circulation as well as in a newspaper published in the language of the region where the head office of the Mutual Fund is situated; and • The Unitholders are given an option for a period of 30 days to exit at the prevailing Net Asset Value without any Exit Load. G. HOW WILL THE SCHEME BENCHMARK ITS PERFORMANCE. In terms of SEBI Circular No.MFD/CIR/16/400/02 dated March 26, 2002 the performance of the Scheme will be benchmarked against BSE 500 Index. The same has been chosen as the benchmark for the Scheme as the composition of the aforesaid index is such that it is most suited for comparing performance of the Scheme. The Fund Manager presents to the Board of the AMC and the Trustees periodically, the performance of the Schemes which will be reviewed by the Boards with reference to the appropriate benchmarks. However, the Schemes' performance is likely to differ from the performance of the benchmark because the Fund Manager endeavours to manage the Scheme actively and therefore constructs the portfolios differently to the benchmark. In terms of SEBI Circular No.MFD/CIR/01/ 071/02 dated March 26, 2002, the Board of the AMC and Trustees may review the benchmark selection from time to time, and make suitable changes as to use of the benchmark or select an additional or replacement benchmark, or related to composition of the benchmark, whenever it deems necessary after recording an adequate justification for carrying out such change. However, change of benchmark and/or selecting additional benchmarks would be done in compliance with the relevant guidelines of SEBI in this regard. The Fund Manager will bring to the notice of the Board of the AMC, specific factors if any, which are impacting the performance of the Scheme. The Board of the AMC on consideration of all relevant factors may, if necessary, give appropriate directions to the AMC. Similarly, the performance of the Scheme will be submitted to the Trustees. The Fund Manager / Chief Investment Officer will explain to the Trustees, the details on the Schemes' performance vis-à-vis the benchmark returns. H. WHO MANAGES THE SCHEME? The Fund Manager, Prashant Khemka, will manage the investments under the Scheme. His qualifications and experience are as under: Name Age Qualification Experience Prashant Khemka 36 years Chartered Financial • Goldman Sachs (experience 10 years) Analyst, MBA from (India) Securities Owen Graduate Private Limited School of (2006-2008) Management, • Goldman Sachs Vanderbilt University, Asset Management Bachelor of (New York) (2000- Engineering from 2006) Sardar Patel College • State Street Global 40
  • of Engineering. Advisors (1998- 2000) Mr. Khemka would also manage the Goldman Sachs India Sustain Fund launched by the Mutual Fund I. WHAT ARE THE INVESTMENT RESTRICTIONS? Investment Restrictions for the Scheme Pursuant to the Regulations, the following investment and other restrictions are presently applicable to the Scheme: • The Scheme shall not invest more than 15% of its net assets in debt instruments issued by a single issuer, which are rated not below investment grade by a credit rating agency authorised to carry out such activity under the SEBI Act. Such investment limit may be extended to 20% of the net assets of the Scheme with the prior approval of the Trustees and the Board of the AMC. Provided that, such limit shall not be applicable for investments in government Securities and money market instruments. Provided further that investment within such limit can be made in mortgage backed securitised debt which is rated not below investment grade by a credit rating agency registered with SEBI. As per SEBI Circular no. SEBI/IMD/CIR No.6/63715/06, with respect to investment in securitized debt (mortgage backed securities / asset backed securities) restrictions at the originator level will not be applicable. • The Scheme shall not invest more than 10% of its net assets in unrated debt instruments issued by a single issuer and the total investment in such instruments shall not exceed 25% of the net assets of the Scheme. All such investments shall be made with the prior approval of the Trustees and the Board of the AMC or a committee constituted in this behalf. • The Fund under all its Scheme(s) shall not own more than 10% of any company's paid up capital carrying voting rights. For the purpose of determining the above limit, a combination of positions of the underlying Securities and stock Derivatives, will be considered. • Further the inter scheme transfer of investments shall be in accordance with the provisions contained in the section ‘Inter-scheme transfer of investments’, contained in the Statement of Additional Information. Transfer of investments from one scheme to another scheme in the Mutual Fund is permitted provided: − Such transfers are done at the prevailing market price for quoted instruments on spot basis (spot basis shall have the same meaning as specified by a stock exchange for spot transactions); and − The Securities so transferred shall be in conformity with the investment objective of the Scheme to which such transfer has been made. • The aggregate inter-scheme investment in line with the investment objectives, made by all the schemes under the same management or in schemes under management of any other asset management company shall not exceed 5% of the net asset value of the Fund. However this restriction will not apply to any Fund of Funds scheme. No investment management fees shall be charged by the Scheme for investing in other schemes of the Fund or in the schemes of any other mutual fund. • The Fund shall get the Securities purchased or transferred in the name of the Fund on account of the concerned Scheme, wherever investments are intended to be of a long-term nature. • The Fund may buy and sell Securities on the basis of deliveries and shall in all cases of purchases take delivery of the relevant Securities and in all cases of sale, deliver the Securities. The Mutual Fund may however engage in short selling of Securities in accordance with the framework relating to short selling and Securities lending and borrowing specified by SEBI. Provided further that the Mutual Fund shall enter into Derivatives transactions in a recognised stock exchange, subject to the framework specified by SEBI and that sale of government securities already contracted for purchase shall be permitted in accordance with the guidelines issued by the RBI in this regard. 41
  • • Pending deployment of funds of a Scheme in terms of the investment objectives of the Scheme, the AMC can invest the funds of the Scheme in short term deposits of scheduled commercial banks in accordance with the guidelines set out by SEBI under the Regulations. • The Scheme shall not make any investment in: − Any unlisted Security of an associate or group company of the Sponsor; or − Any Security issued by way of private placement by an associate or group company of the Sponsor; or the listed Securities of group companies of the Sponsor which is in excess of 25% of the net assets of the Scheme of the Mutual Fund. • The Scheme shall not invest more than 10% of its NAV in the equity shares or equity related instruments of any company. For the purpose of determining the above limit, a combination of positions of the underlying Securities and stock Derivatives, will be considered. • The Scheme shall not invest more than 5% of its net assets in unlisted equity shares or equity related instruments. • The Fund shall not borrow except to meet temporary liquidity needs of the Fund for the purpose of repurchase / Redemption of Units or payment of interest and Dividend to the Unitholders. Provided that the Fund shall not borrow more than 20% of the net assets of any individual Scheme and the duration of the borrowing shall not exceed a period of 6 months. • The entire Scheme's investments will be in Securities, money markets instruments, privately placed debentures, securitised debt instruments which are either asset backed or mortgage backed securities. • Debentures, irrespective of any residual maturity period (above or below 1 year), shall attract the investment restrictions as applicable for debt instruments as specified under Clause 1 and 1A of the Seventh Schedule to the Regulations or as may be specified by SEBI from time to time. • No loans for any purpose shall be advanced by the Scheme. • The Scheme may lend Securities in accordance with the Regulations. • The Scheme shall not invest in a Fund of Funds scheme. • The Scheme will comply with any other regulations applicable to the investments of mutual funds from time to time. • Aggregate value of 'illiquid securities' of the Scheme, which are defined as non-traded, thinly traded and unlisted equity shares, shall not exceed 15% of the total assets of the Scheme. • If the Mutual Fund holds an aggregate of Securities which are worth Rs.10 crores or more, as on the latest balance sheet date, it shall, subject to such instructions as may be issued from time to time by the Board of the AMC, settle its transactions only through dematerialised Securities. Further all transactions in government securities shall be in dematerialised form. Investments limitations and restrictions in foreign securities As applicable, the Scheme shall comply with the investment limitations and restrictions set out for overseas investments by schemes of Indian mutual funds in SEBI's circulars SEBI/IMD/CIR No. 7/104753/07 dated September 26, 2007 and SEBI/IMD/CIR No.2/1222577/08 dated April 8, 2008. The restriction on investments by the Scheme in mutual fund units up to 5% of net assets of the Scheme and prohibition on charging of management fees for such investments, shall not be applicable to investments in mutual funds in foreign countries made in accordance with SEBI Regulations. Investments Limitations and Restrictions in Derivatives As applicable, the Scheme shall comply with the investment limitations and restrictions set out for participation in the Derivatives market in accordance with SEBI circulars dated September 14, 2005, January 20, 2006 and September 22, 2006. Investments in Scheme by AMC, Sponsor and Affiliates 42
  • The AMC and investment companies managed by the Sponsor, their affiliates, their associate companies and subsidiaries may invest either directly or indirectly in the Schemes. The AMC shall not charge any fees on investments made by it in the Units of the Schemes in accordance with sub-regulation 3 of Regulation 24 of the Regulations and shall charge fees on such amounts in future only if the SEBI Regulations so permit. J. HOW HAS THE SCHEME PERFORMED? This Scheme is a new scheme and does not have any performance track record. III. UNITS AND OFFER This section provides details you need to know for investing in the Scheme. A. NEW FUND OFFER (NFO) New Fund Offer NFO Period opens on: [ ] ● Period NFO Period closes on: [ ] ● This is the period during which a new The AMC and the Trustees reserve the right to shorten / lengthen the NFO scheme sells units Period. to the investors. If the NFO Period is shortened before / extended beyond, the closing date mentioned in this Scheme Information Document, then such shortening / extension would be carried out in accordance with the Regulations subject to the condition that the NFO Period shall not be kept open for more than 30 days. New Fund Offer Rs. 10/- per Unit for cash (subject to applicable Load). Price This is the price per unit that the investors have to pay to invest during the NFO Period. Minimum Amount Growth Option- Rs. 50,000/- for Application in the NFO Dividend (Payout/ Reinvestment) Option - Rs. 50,000/- Minimum Additional Investment Rs. 1,000 and in multiples of Re. 1 thereafter in case of both Dividend (Payout/Reinvestment) Option and Growth Option. Minimum Target During the NFO Period of the Scheme, a minimum Subscription of Rs. amount One Crore (Rs. 1,00,00,000/-) is sought to be raised. This is the This is the minimum amount required to operate the Scheme and if this is minimum amount not collected during the NFO Period, then in accordance with the SEBI required to operate Regulation, all the investors would be refunded the amount invested the scheme and if without any return, subject to as mentioned in the section on ’Refund’ in this is not collected this Scheme Information Document. during the NFO Period, then all the 43
  • investors would be refunded the amount invested without any return. However, if AMC fails to refund the amount within 6 weeks, interest as specified by SEBI (currently 15% p.a.) will be paid to the investors from the expiry of six weeks from the date of closure of the Subscription period. Maximum Amount Not Applicable to be raised (if any) This is the maximum amount which can be collected during the NFO Period, as decided by the AMC. Options Offered The Scheme offers two options – Growth Option and Dividend Option. The Dividend Option offers Dividend Payout sub-option and Dividend Reinvestment sub-option. Under Growth Option, no Dividend will be declared. Under Dividend Option, Dividend may be declared by the Trustees, at their discretion, from time to time (subject to the availability of distributable surplus as calculated in accordance with the Regulations). Dividend Payout sub- option : Under this sub-option, it is proposed to payout the Dividends so declared. Compulsory Dividend Reinvestment (for investors under Dividend Payout sub-option): Please note that where the Unitholder has opted for Dividend Payout sub-option and in case the amount of Dividend payable to the Unitholder is Rs.250/- or less, the same will be compulsorily reinvested in the Scheme. Dividend re-investment sub-option: Under this Option the Dividend due and payable to the Unitholders will be compulsorily and without any further act by the Unitholders, be reinvested at the ex-dividend NAV announced immediately after the record date. There shall be no Load on the Dividends so reinvested. 44
  • For further details, please refer to the section on ‘Dividend Policy’ below. The AMC and the Trustees reserve the right to introduce such other plans/options as they deem necessary or desirable from time to time, in accordance with the SEBI Regulations. Investors should indicate an Option and other relevant details for which the Subscription is made by indicating the choice in the appropriate box provided for this purpose in the Application Form. In case of valid Application Forms received, without indicating the Option etc. the following defaults will apply : Indication not made Default Dividend / Growth Option Growth Option Dividend Payout / Reinvestment sub- Dividend Reinvestment sub- option option Dividend Policy In accordance with the Regulations on the procedure for declaration of Dividend, the quantum of Dividend and the record date will be fixed by the Trustees. The record date shall be the date that will be considered for the purpose of determining the eligibility of investors whose names appear on the register of Unitholders for receiving Dividends. The AMC shall issue a notice in an English daily newspaper having nation-wide circulation as well as in a newspaper published in the language of the region in which the head office of the Fund is located to communicate to the public, the decision of the Trustees to declare Dividends including the record date, within one calendar day of the decision being made by the Trustees in their meeting. The record date shall be 5 calendar days from the issue of notice. The Trustee reserves the right to declare Dividends on a regular basis. The Fund does not guarantee or assure declaration or payment of Dividends. Although the Trustees have the intention to declare Dividends under the Dividend Option, such declaration of Dividend if any, is subject to Scheme’s performance and the availability of distributable surplus in the Scheme at the time of declaration of such Dividend. Procedure for distribution of Dividend: The Dividend proceeds may be paid by way of cheques, Dividend warrants / direct credit / NEFT / RTGS or any other manner through the Unitholder's bank account as specified in the Registrar's records. The AMC, at its discretion at a later date, may choose to alter or add other modes of payment. Effect of Dividend: When Dividends are declared and paid with respect to the Dividend Option in the Scheme, the net assets attributable to Unitholders in the respective Dividend Options will stand reduced by the Dividend amount subject to the dividend distribution tax and statutory levy, if any. The 45
  • NAV of the Unitholders in the Growth Option will remain unaffected by the payment of Dividend. Even though the Scheme’s portfolio will be un-segregated, the NAVs of the Growth Option and Dividend Option respectively, in the Scheme will be distinctly different after declaration of the first Dividend to the extent of distributed income, tax and statutory levy thereon paid, where applicable, and expenses relating to the distribution of the Dividends. Please refer to Section V. B. IV of the Statement of Additional Information for details on Unclaimed Redemptions and Dividends Allotment Subject to (i) the achievement of the minimum target amount; (ii) receipt of complete Application Forms that are in order; (iii) realization of the specified minimum Subscription amount from the investor, and (iv) provisions set out in the paragraph on ‘Rejection of the application’ below, full allotment of Units applied for will be made within 30 Business Days from the date of closure of the NFO Period for all valid applications received during the NFO Period. Account Statement: An account statement will be sent by ordinary post / courier / e-mail to each Unitholder, stating the number of Units allotted, not later than 30 working days from the close of the NFO Period. As Units of the Scheme will be non-transferable, the account statements shall also be non- transferable. If the Unitholder so desires, non-transferable Unit certificates will be issued within 30 days of the receipt of such request for the certificate. In case the investor provides an email address in the Application Form, the account statement will be provided only through email, if such option is selected in the Application Form. Refund If the minimum target amount is not achieved or if the application is rejected, full amount received from the investor will be refunded within 6 weeks of closure of the NFO Period. If refunded later than 6 weeks, interest @ 15% p.a. for delay period will be paid and charged to the AMC. Who can Invest The following persons are eligible and may apply for Subscription to the This is an Units of the Scheme (subject, wherever relevant, to the Purchase of Units indicative list and of the Scheme of the Mutual Fund being permitted and duly authorised you are requested under their respective constitutions, charter documents, corporate / other to consult your authorisations and relevant statutory provisions etc): financial advisor to • Indian Resident adult individuals either singly or jointly ascertain whether • Indian Resident minor through parent / lawful guardian (please see the the scheme is note below) suitable to your risk • Companies, bodies corporate, public sector undertakings, association profile. of persons, bodies of individuals, societies registered under the Societies Registration Act, 1860 (so long as the Purchase of Units is permitted under the respective constitutions) • Religious and charitable trusts, wakfs or endowments of private trusts (subject to receipt of necessary approvals as required) and private trusts authorised to invest in mutual fund schemes under their trust 46
  • deeds • Partnership Firms constituted under the Partnership Act, 1932 • Karta of Hindu Undivided Family (HUF) • Banks (including co-operative banks and regional rural banks) and financial institutions • Non-resident Indians (NRIs) / Persons of Indian Origin on full repatriation basis (subject to RBI approval, if required) or on non- repatriation basis • Foreign Institutional Investors (FIIs) registered with SEBI on full repatriation basis (subject to RBI approval, if required) • Army, air force, navy and other para-military funds and eligible institutions • Scientific and industrial research organisations • Provident / pension / gratuity and such other funds as and when permitted to invest • International multilateral agencies approved by the GOI / RBI • Other schemes of the Mutual Fund subject to the conditions and limits prescribed in the Regulations • Trustees, AMC or Sponsor or their associates (if eligible and permitted under prevailing Laws), may subscribe to the Units of the Scheme • A mutual fund through its schemes, including Fund of Funds schemes • Any other category of investors as the AMC may permit. Notes: 1. A minor Unitholder on becoming a major may inform the Registrar and provide his specimen signature duly authenticated by his banker as well as the details of his / her bank account and PAN to enable the Registrar to update its records and allow him to operate the account in his own right. 2. Returned cheques are not liable to be presented again for collection, and the accompanying Application Forms are liable to be rejected. 3. Any request for withdrawal of Application Form made during the NFO Period will be treated as a Redemption request and shall be processed at the Redemption Price on the first Business Day after the Scheme opens for Purchase and Redemption on an ongoing basis. 4. It is expressly understood that at the time of investment, the investor / Unitholder has the express authority to invest in Units of the Scheme and the AMC / Trustees / Mutual Fund will not be responsible if such investment is ultravires the relevant constitution. Subject to the Regulations, the AMC / Trustees may reject any application received in case the application is found to be invalid/ incomplete or for any other reason in the AMC / Trustees’ sole discretion. 5. The Trustees/ AMC may also periodically add and review the persons eligible for making application for Purchase of Units under the Scheme. If a person who is a Indian Resident at the time of Subscription becomes a resident outside India subsequently, he/she shall have the option to either be paid the Redemption Price of the Units, or continue into the Scheme if he/she so desires and is otherwise eligible. The Trustees / AMC reserve the right to close the Unitholder account and to pay the Redemption Price of the Units, subsequent to the Unitholder becoming a person resident 47
  • outside India, should the reasons of cost, interest of other Unitholders and any other circumstances make it desirable for the AMC / Trustees to do so, in accordance with the Regulations. The Trustees / AMC may request for any information / documentation from such Unitholders in connection with change in the residential status of the Unitholder. 6. It is compulsory for investors / Unitholders to give certain mandatory disclosures while making applications for the Subscription of Units of the Scheme / Redemption requests like bank details or PAN card details etc. For details please refer to the section on ‘How to Apply’ in Statement of Additional Information and the section on ‘How to pay’ in this Scheme Information Document. 7. The Units of the Scheme are not ‘public securities’ under the relevant statutes and any religious and charitable trust that seeks to invest in the Units of the Scheme will require prior approval of the appropriate authority. The Fund / Trustees / AMC reserve the right to include / exclude new / existing categories of investors to invest in the Scheme from time to time, subject to applicable Laws, if any. Rejection of the application: Subject to the Regulations and applicable Laws, any application for Units may be accepted or rejected at the sole and absolute discretion of the Trustees / AMC. For example, the Trustees/AMC may reject any application for the Purchase of Units if the application is received from a US Person or any other investor to whom the Units cannot be lawfully or validly offered or by whom the Units cannot be lawfully or validly subscribed or if the application is invalid or incomplete, or if, in its opinion, increasing the size of the Scheme's Unit Capital is not in the general interest of the Unitholders, or if the Trustees/ AMC for any other reason does not believe that it would be in the best interest of the Scheme or its Unitholders to accept such an application. Further information request by the AMC/Trustees: The AMC / Trustees may request investors / Unitholders to provide verification of their identity or other further details as may be required in the opinion of the AMC / Trustees under applicable Laws. This may result in a delay in dealing with the applicants, Unitholders, benefits, distribution, etc. Where can you Duly completed Application Form(s) for the Purchase of Units of the submit the filled Scheme during the NFO Period along with the instrument for payment out applications. may be submitted to any of the Official Points of Acceptance for the NFO or as notified by the AMC. The Fund has appointed specified bankers for accepting Application Forms for this Scheme during the NFO Period. The AMC has the right to appoint additional bankers during the NFO Period and change the bankers and/or any of the bankers appointed subsequently, if it deems fit. Please refer to the back cover page of this Scheme Information Document for details of Official Points of Acceptance. How to Apply Please refer to the Statement of Additional Information and Application Form for instructions. 48
  • How to Pay 1. Payment should be made by cheque or bank draft drawn on any bank which is situated at and is a member of the banker's clearing house located at the place where the Application Form is submitted or as a payment instruction (such as pay order, banker’s cheque etc.) or electronic instructions or in a manner acceptable to the AMC, which is evidenced by receipt of credit in a bank account of the Scheme. 2. The following modes of payment are not valid i) Outstation cheques will not be accepted and Application Forms accompanied by such cheques are liable to be rejected. ii) Cash, money orders or postal orders. iii) Post dated cheques or as may be decided by the AMC from time to time. 3. Bank charges for outstation demand drafts will be borne by the AMC and will be limited to the bank charges as per table below. The AMC will not entertain any request for refund of demand draft charges. Amount DD Charges Up to Rs At actuals, subject to a maximum of Rs 50/ 10,000 Above Rs At Rs 3.5 per Rs 1000/- minimum Rs 50/- and 10,000 maximum Rs 12,500/ 4. All cheques and bank drafts must be drawn in the name of the Scheme or its abbreviation and crossed "Account Payee only". A separate cheque or bank draft must accompany each Application Form / Transaction Slip. 5. The Application Forms together with the cheque / demand draft /payment instruction or copy of the electronic instruction can be tendered at any of the Official Points of Acceptance as specified in this Scheme Information Document. 6. In order to protect the interest of Unitholders from fraudulent encashment of cheques, cheques must specify the name of the Unitholder and the bank name and account number where payments are to be credited. 7. It is mandatory for every applicant to provide the name of the bank, branch, address, account type and number as per SEBI requirements and any Application Form / Transaction Slip (if applicable) without these details will be treated as incomplete. Such incomplete applications may be rejected. The Registrar / AMC may ask the investor to provide a blank cancelled cheque or its photocopy for the purpose of verifying the bank account number. 8. In order to protect investors from frauds, it is advised that the Application Form number / folio number and name of the first investor should be written at the back of the cheque / draft before they are handed over to any courier / Distributor / Official Points of Acceptance. Note: The Trustees, at its discretion at a later date, may choose to alter or 49
  • add other modes of payment in accordance with the applicable Laws. Payments by NRIs, FIIs (a) Repatriable basis In the case of NRIs/PIOs, payment may be made either by inward remittance through normal banking channels or out of funds held in a Non-Resident (External) Rupee Account (NRE) / Foreign Currency (Non-Resident) Account (FCNR). Flls may pay their subscriptions either by inward remittance through normal banking channels or out of funds held in a Non-Resident Rupee Account maintained with the designated branch of an authorised dealer in accordance with applicable laws and the relevant foreign exchange management regulations. (b) Non-repatriable basis In the case of NRIs, payment may be made either by inward remittance through normal banking channels or out of funds held in an NRE / FCNR / Non-Resident Ordinary Rupee Account (NRO). Listing Being an open ended Scheme under which Purchase and Redemption of Units will be made on a continuous basis by the Mutual Fund, the Units of the Scheme are generally not proposed to be listed on any stock exchange. However, the Trustees may at its sole discretion, list the Units under the Scheme on one or more stock exchanges at a later date. Special products / Systematic Investment Plan facilities available Please refer to section on special products available during Ongoing Offer during the NFO period for details on the Systematic Investment Plan. The policy regarding reissue of repurchased units, including the maximum extent, The Scheme does not propose to reissue Redeemed Units. the manner of reissue, the entity (the scheme or the AMC) involved in the same. Restrictions, if, The Units of the Scheme are not transferable. any, on the right to freely retain or dispose of units Also refer to the section on ‘Right to Limit Redemptions’ in the Statement being offered. of Additional Information. B. ONGOING OFFER DETAILS Ongoing Offer Period This is the date from W.e.f [ ] (date) or within [ ] days of the date of closure of the NFO ● ● which the scheme will Period. reopen for Subscriptions/Redempti 50
  • ons after the closure of the NFO Period. The Purchase Price of the Units is the price at which an investor can Ongoing price for Purchase Units of the Scheme. It will be calculated as described below: Subscription Purchase Price = Applicable NAV x (1 + Entry Load). (Purchase)/Switch-in (from other The NAV of the Units of the Scheme will be rounded to two decimal schemes/plans of the places. The Purchase Price will be calculated for up to two decimal mutual fund) by places for the Scheme. investors. For example, if the Applicable NAV of the Scheme is Rs.10/-, and it This is the price you has a 2.00% Entry Load, the Purchase Price will be calculated as need to pay for follows: Purchase/Switch-in. Purchase Price = 10 x (1 + 2.00%) i.e. 10 x 1.02 = Rs. 10.20/- Example: If the Applicable NAV is Rs. Amount invested = Rs. 10000 10, Entry Load is 2% No. of units allotted = 10000/10.20 then sales price will be: = 980.392 (rounded off) Rs. 10* (1+0.02) = Rs. 10.20 The Redemption Price of the Units is the price at which a Unitholder can Redeem Units of the Scheme. It will be calculated as described below: Redemption Price = Applicable NAV x (1 - Exit Load) Redemption Price will be calculated for up to two decimal places for the Scheme. Ongoing price for For example, if the Applicable NAV of a Scheme is Rs.10/- and it has a Redemption (sale) 2% Exit Load, the /Switch -Outs (to other Redemption Price will be calculated as follows: schemes/plans of the Redemption Price = Rs. 10 x (1 - 2.00%) i.e. Rs. 10 x 0.98 = Rs. 9.80/- Mutual Fund) by investors. The Securities Transaction Tax is levied under Chapter VII of Finance (No. 2) Act, 2004 at the rate of 0.25% (or such other applicable rate) on This is the price you the Redemption Price will be reduced from the Redemption Price. will receive for Redemptions/Switch - To illustrate: If a Redemption of 1,000 Units is sought by the Unitolder Outs. at a Redemption Price of Rs.9.80/- (as calculated above), the Redemption amount is Rs. 9,800/-. This will be further reduced by Rs. Example: If the 25/- (i.e. Rs. 9,800 x 0.25%, rounded of to the nearest rupee), making applicable NAV is Rs. the net Redemption amount Rs. 9,775/-. 10, Exit Load is 2% then Redemption Price If a Redemption of Rs. 10,000/- is sought by the Unitholder at a will be: Redemption Price of Rs. 9.80/- (as calculated above), the effective Rs. 10* (1-0.02) = Rs. Redemption amount will be grossed up to Rs. 10,025/- (i.e. 10,000 ÷ (1- 9.80 0.25%)) and 1022.959 Units (10,025 ÷ 9.80) will be Redeemed. This is to ensure that the Unitholder receives the net amount of Rs. 10,000/- as desired. Investors / Unitholders should note that the AMC has the right to modify the existing Load structure in any manner or introduce an Entry Load or Exit Load or a combination of Entry Load and / or Exit Load and / or any other Load subject to a maximum as prescribed under the 51
  • Regulations and with prospective effect only. While determining the price of the Units, the Mutual Fund shall ensure that the Purchase Price is not lower than 93% of the NAV and the Redemption Price is not higher than 107% of the NAV and the difference between the Purchase Price and Redemption Price is not exceeding 7% on the Purchase Price. Please refer to Section IV. C. for further details on the Load Structure of the Scheme. Cut-off time is the time before which the investor’s Application Form(s) (complete in all respects) should reach the Official Points of Acceptance to be entitled to the Applicable NAV of that Business Day. Cut-off time for NAV for Purchase of Units and Switch-in The following Cut-off times shall be observed by the Fund in respect of Purchase of Units and Switch-in transactions, and the following NAVs shall be applied for such Purchase: a. where the application is received up to 3.00 pm Indian Standard Time with a local cheque or demand draft payable at par at the Cut-off timing for place where it is received – closing NAV of the day of receipt of Subscriptions/ application; and Redemptions/ Switches b. where the application is received after 3.00 pm Indian Standard This is the time before Time with a local cheque or demand draft payable at par at the which your application place where it is received – closing NAV of the next Business (complete in all Day. respects) should reach the official points of Cut-off time for NAV for Redemption of Units and Switch-out acceptance. The following Cut-off times shall be observed by the Fund in respect of Redemption of Units and Switch-out transactions, and the following NAVs shall be applied for such Redemption: a. where the application received up to 3.00 pm Indian Standard Time – closing NAV of the day of receipt of application; and b. an application received after 3.00 pm Indian Standard Time – closing NAV of the next Business Day. Duly completed Application Forms / Transaction Slips for Purchase, Redemption, Switch of Units under the Scheme or other changes in bank account details, change of personal information of the Unitholder, may be submitted to any of the Official Points of Acceptance notified by the AMC. Where can the applications for The AMC has the right to designate additional centers of the Registrar Purchase/Redemption / as the Official Points of Acceptance during the Ongoing Offer Period switches be submitted? and change such centers, if it deems fit. Please refer to the back cover page of this Scheme Information Document for details of Official Points of Acceptance. 52
  • Minimum Amount for Purchase: Rs. 50,000/- Minimum Application Amount : Rs. 50,000/- Minimum Additional Application Amount : Rs. 1,000/- and in multiples of Re. 1 thereafter Minimum Amount for Redemption The Redemption would be permitted to the extent of credit balance in the Unitholder's account. The Redemption request can be made by specifying the rupee amount or the number of Units to be Redeemed. Redemption requests can be made for a minimum amount of Rs.1000/ - (Rupees One Thousand Only) and multiples of Re. 1/- (Rupee One Only) thereafter. Where a request for a Redemption is for both the amount and number of Units, the amount requested for Redemption will be considered as the definitive request. If the balance in the Unitholder's account does not cover the amount Minimum amount for required for the Redemption request, then the Mutual Fund is Purchase/Redemption/S authorised to close the account of the Unitholder and send the entire witches such (lesser) balance to the Unitholder. In case an investor has Purchased Units on more than 1 Business Day (either under the NFO Period or through subsequent purchases), the Units purchased prior in time (i.e. those Units which have been held for the longest period of time), will be deemed to have been Redeemed first i.e. on a FIFO basis. Unitholders may also request for Redemption of their entire holding and close the account by indicating the same to the Fund / AMC. Where however, the Unitholder wishes to Redeem Units for a specified amount, then the amount to be paid on Redemption will be divided by the Redemption price, and the resultant number of Units will be Redeemed. Minimum Amount for Switches In case of Switch into the Scheme by an existing investor of any scheme of the Fund, the minimum application amount shall be Rs. 50,000/- The minimum balance to be maintained in a Unitholder’s account is Rs. 1,000/-. The Fund may close a Unitholder's account and refund the Minimum balance to be balance amount in the account to the Unitholder, if as a consequence maintained and of a Redemption, the balance falls below Rs.1000/- and the Unitholder consequences of non fails to purchase sufficient Units to bring the value of the Unitholders’ maintenance. account up to the minimum amount or more, after written notice is sent by the Mutual Fund. Special Products available Systematic Investment Plan (SIP) This facility enables investors to save and invest periodically over a period of time. It is a convenient way to "invest as you earn" and offers the investor an opportunity to enter the market regularly, thus averaging the acquisition cost of the Units. The conditions for investing in the SIP will be as follows: (a) In case the SIP started during the NFO Period, the Fund will accept a cheque only for the first installment and the cheque should be dated 53
  • on or before the date of submission of the Application Form. The payment for the subsequent SIP installments (minimum 5 additional payment instructions), shall be made on 7th or 21st of a month only through ECS / or in any other manner as may be acceptable to the AMC. Prospective investors should note that for SIP started during the NFO Period the second installment by ECS will be debited from the investor's bank account on the day of the month as selected by the investor only as long as this date is at least 30 days after the allotment of shares. Example: The investor chooses the 7th of each month as his date of ECS debit on a monthly basis. If the NFO Period ends on June 30th, the allotment of shares occurs approximately by July 31st (30 days after the end of the NFO Period). Thirty days after allotment would be August 31st, so the second installment debit would occur on September 7th. The next installment would be debited from the investor's account on October 7th. The remaining installments would thereafter be accepted on a monthly basis. (b) For SIP, the installment after NFO Period should be dated after the date of declaration of the first NAV. Any payments intended for interim period will not be processed and will be treated as void. (c) In case of SIP started during the Ongoing Offer Period, the date of the first cheque / payment instruction shall be the same as the date of the application while the remaining payment instructions (minimum 5 payment instructions) shall be either for the 7th or 21st of a month or quarter) provided there is a minimum period of 30 days after the first payment instruction. (d) Purchases can be made on either a monthly or quarterly basis. (e) Other than the first installment, all successive payment instructions shall be of equal amounts. Details relating to the amount to be invested as a lump sum in the first installment and the amount to be invested for successive installments shall be clearly specified by the investor in the Application Form. (f) The minimum amount for every installment shall be Rs 5,000/-and minimum number of installments for monthly/quarterly SIP will be six. (g) The aggregate amount of all installments shall not be less than Rs 30,000/-. There is no upper limit for individual installments / aggregate investments made under SIP. (h) If the previous folio number is not mentioned, an extension of an existing SIP will be treated as a new SIP on the date of such application and all the above conditions need to be met with. (i) At the expiration of the existing SIP and filing an extension for the SIP, the prevailing Load structure will apply for all the installments indicated in such application. (j) In case of investments under the SIP, if 2 or more consecutive payment instructions provided by the investor / Unitholder are dishonored for either insufficiency of funds or as a result of a stop payment instruction issued by the investor/ Unitholder, the AMC 54
  • reserves the right to discontinue the SIP facility provided to the investor / Unitholder. Investors should note that an application for SIP can be submitted at Official Points of Acceptance. Systematic Withdrawal Plan (SWP) This facility enables the Unitholders to withdraw sums from their Unit accounts in the Scheme at periodic intervals through a one-time request. • In order to start the SWP facility, the minimum account balance should be Rs.30,000/-. • The frequency can be monthly or quarterly. A fixed amount can be transferred on 7th/21st of the month/quarter and minimum withdrawal amount has to be Rs. 5000/- (Rupees Five Thousand Only) for each installment and multiples of Re. 1/- (Rupee One Only) thereafter. • This facility is not available for Units which are under lien or pledge. • The AMC/Trustees reserve the right to discontinue or modify the SWP facility at any time in future on a prospective basis. The Units will be Redeemed at the Applicable NAV of the respective dates on which such withdrawals are sought. In case the day on which the withdrawal is sought is a non-Business Day for the Scheme, the same will be processed on the immediately following Business Day. Switching (i) Inter-Scheme Switching The Transaction Slip can be used by investors to make inter-scheme switches within the Fund. All valid applications for Switch-out shall be treated as Redemptions and for Switch-in as Purchases with the respective Applicable NAVs of the Scheme / Option. (ii) Intra-Scheme Switching (Between Growth Option and Dividend Option or between the sub-options of the Dividend Option) Investors can switch between different Options under the Scheme at the Applicable NAV. All valid applications for Switch-out shall be treated as Redemption and for Switch-in as Purchases with the respective Applicable NAVs of the Option. As per the current Load structure, no Entry or Exit Loads will be charged for intra-Scheme switching. However, the AMC may change the Loads prospectively as indicated in the section on Load Structure of the Scheme in this SID. (iii) General To effect a Switch, a Unitholder must provide clear instructions. A request for a Switch may be specified either in terms of amount or in terms of the number of Units of the Scheme from which the Switch is sought. Where a request for Switch is for both the amount and number of Units, the amount requested will be considered as the definitive request. Such instructions may be provided in writing and lodged on any Business Day at any of the Investor Service Centres. An account 55
  • statement reflecting the new holding will be dispatched to the Unitholders generally within 3 working days, but not later than 10 working days of completion of the Switch transaction. When a switching request is received after the Cut-off time as specified in this Scheme Information Document for either scheme, then the request will deemed to have been received on the next Business Day. The Switch will be effected, subject to the minimum balance, minimum application amount and Subscription / Redemption criteria applicable for the respective scheme(s). Account Statements For normal transactions (other than SIP) (if applicable) during ongoing Purchase and Redemption: The AMC shall issue to the investor whose application (other than SIP) has been accepted, an account statement specifying the number of Units allotted. • In the Ongoing Offer period, the account statement will be sent by ordinary post /courier/ electronic mail to each Unitholder, stating the number of Units Purchased/ Redeemed, generally within 3 working days, but not later than 10 working days from date of acceptance of a valid request of the same. • In case the investor provides the e-mail address, the Fund will provide the account statement only through e-mail, if mandated by the Unitholder. • The account statements shall be non-transferable. If the Unitholder so desires, non-transferable Unit certificates will be issued within six weeks of the receipt of request for the certificate. • The Unitholder may request for a physical account statement by writing to any of the Official Points of Acceptance or by calling the call center. The same shall be sent by ordinary post or courier. For SIP transactions: • Account statement for SIP will be dispatched once every quarter ending March, June, September and December within 10 working days of the end of the respective quarter. • A soft copy of the account statement shall be mailed to the investors under SIP to their e-mail address on a monthly basis, if so mandated. • However, the first account statement under SIP shall be issued within 10 working days of the initial investment/transfer. • In case of specific request received from investors, Mutual Funds shall provide the account statement (SIP) to the investors within 5 working days from the receipt of such request without any charges. Annual Account Statement: • The Mutual Fund shall provide the account statement to the Unitholders who have not transacted during the last six months prior to the date of generation of the account statements. The account statement shall reflect the latest closing balance and value of the Units prior to the date of generation of the account statement, • The account statements in such cases may be generated and issued along with the portfolio statement or annual report of the Scheme. • Alternately, a soft copy of the account statements shall be mailed to 56
  • the investors' e-mail address, instead of the physical statement, if so mandated. Dividend The Dividend warrants shall be dispatched to the Unitholders within 30 days of the date of declaration of the Dividend. Redemption The Unitholder has the option to request for Redemption either in an amount of Indian Rupees at the Redemption Price or in number of Units in a manner more particularly provided below. A. How to Redeem A Transaction Slip can be used by the Unitholder to request a Redemption. The requisite details should be entered in the Transaction Slip and submitted at any of the Official Points of Acceptance. Transaction Slips can be obtained from any location of the ISC. B. Payment of proceeds The Mutual Fund will dispatch the Redemption proceeds within 10 working days from the date of acceptance of the Redemption request. 1. Resident Investors In case the Unitholder requests, Redemption proceeds will be paid by cheques, such cheques will be marked "A/c Payee only" and drawn in the name of the sole holder / first-named holder (as determined by the records of the Registrar). The Redemption cheque will be issued in favour of the sole / first Unitholder's registered name and bank account number, and will be mailed to the registered address of the sole / first holder as indicated in the original Application Form. The Redemption cheque will be payable at par. If the Unitholder is located outside the locations from where the cheque is payable at par, a demand draft payable at the city of his residence will be issued. The demand draft charges will be borne by the AMC. The dispatch for the purpose of delivery through the courier / postal department, as the case may be, shall be treated as delivery to the investor. The AMC / Registrar are not responsible for any delayed delivery or non-delivery or any consequences thereof, if the dispatch has been made correctly as stated in this paragraph. The Redemption proceeds may be paid by way of direct credit / NEFT / RTGS or any other manner through which the investor's bank account specified in the Registrar's records may be credited with the Redemption proceeds. Note: The Trustees, at its discretion at a later date, may choose to alter or add other modes of payment. 2. Non-Resident Indian Investors / Foreign Institutional Investors Units held by NRI investors and FIIs may be Redeemed by such 57
  • Unitholder by tendering Units to the AMC or for payment of maturity proceeds, subject to any procedures laid down by RBI from time to time. The AMC and/or Trustees and/or the Fund will not be liable for any delays or for any loss on account of any exchange fluctuations, while converting the rupee amount in foreign exchange in the case of transactions with NRIs / FIIs. Provisions with respect to NRIs/ FIIs stated above, is as per the AMC/Trustee's understanding of the laws currently prevalent in India and such Redemption proceeds will be remitted depending upon the source of investment as follows: (a) Repatriation Basis When Units have been purchased through remittance in foreign exchange from abroad or by cheque / draft issued from proceeds of the Unitholder's FCNR deposit or from funds held in the Unitholder's Non Resident (External) Rupee account kept in India, the proceeds can be remitted to the Unitholder in foreign currency (any exchange rate fluctuation will be borne by the Unitholder). The proceeds can also be sent to his Indian address for crediting to his NRE / FCNR / Non-Resident (Ordinary) account, if desired by the Unitholder. (b) Non-Repatriation Basis When Units have been Purchased from funds held in the Unitholder's non-resident (ordinary) account, the proceeds will be sent to the Unitholder's Indian address for crediting to the Unitholder's non-resident (ordinary) account. For FIIs, the designated branch of the authorised dealer may allow remittance of net sale / maturity proceeds (after payment of taxes) or credit the amount to the foreign currency account or non-resident Rupee account of the FII maintained in accordance with the approval granted to it by the RBI. The AMC will not be liable for any delays or for any loss on account of any exchange fluctuations, while converting the Rupee amount in foreign exchange in the case of transactions with NRIs / FIIs. The Fund may make other arrangements for effecting payment of Redemption proceeds in the future. C. Effects of Redemption The number of Units held by the Unitholder in his folio will stand reduced by the number of Units Redeemed. Units once Redeemed will be extinguished and will not be re- issued. A fresh account statement / transaction confirmation will be sent to the redeeming investors, indicating the new balance to the credit in the account. 58
  • D. General Provisions Further, as Units may not be held by a US Person or any person in breach of the Regulations, applicable laws or requirements of any governmental, statutory authority including, without limitation, exchange control regulations, the Trustees / AMC may mandatorily Redeem all the Units of any Unitholder where the Units are held by a Unitholder in breach of the same. The Trustees / AMC may also mandatorily Redeem Units held by Unitholders which the Trustees/ AMC, in their sole opinion, suspect to be engaged in market-timing or excessive trading or unfair or suspicious practices, or if the Trustees /AMC for any other reason believe that mandatory Redemption of such Unitholders would generally be in the interest of the Scheme or its Unitholders. The Trustees/ AMC may mandatorily Redeem Units of any Unitholder in the event it is found that the Unitholder has submitted information either in the application or otherwise that is false, misleading or incomplete without limitation to verifying their identity. In case an investor has purchased Units on more than 1 Business Day (either under during the NFO Period or during the Ongoing Offer Period), the Units purchased prior in time (i.e. those Units which have been held for the longest period of time), will be Redeemed first i.e. on a FIFO basis. If a Unitholder makes a Redemption request immediately after Purchase of Units, the Fund shall have a right to withhold the Redemption request until sufficient time has elapsed to ensure that the amount remitted by him (for Purchase of Units) is realised and the proceeds have been credited to the concerned Scheme's Account. However, this is only applicable if sufficient balance is not available in the Unitholders account to effect such a Redemption and the value of Redemption is such that some or all of the freshly purchased Units may have to be Redeemed to effect such Redemption. For further details on Redemption also refer to sections on ‘Right to Limit Redemptions’ and ‘Suspension of Purchase / Redemption / Switch of Units’ in the Statement of Additional Information. Delay in payment of In the event of failure to dispatch the Redemption or repurchase Redemption / proceeds within the period specified under SEBI Regulations i.e 10 repurchase proceeds working days, the AMC shall be liable to pay interest to the Unitholders at such rate as may be specified by SEBI for the period of such delay (presently @ 15% per annum). C. PERIODIC DISCLOSURES Net Asset Value The AMC shall declare the NAV of the Scheme on every Business Day on AMFl's website www.amfiindia.com by 9:00 pm of that Business Day 59
  • This is the value per and also on its website www.gsam.in. In case of any delay, the reasons unit of the scheme for such delay would be explained to AMFI by the next Business Day. If on a particular day. the NAVs are not available before commencement of business hours on You can ascertain the following Business Day due to any reason, the Fund shall issue a the value of your press release providing reasons for the same and explaining when the investments by Fund would be able to publish the NAV. multiplying the NAV with your unit The NAV of the Units of the Scheme shall be calculated for every balance. Business Day and released to the Press. NAV of the Units of the Scheme / Option(s) shall be made available at all Investor Service Centres of the AMC. The AMC shall have the NAV published in two daily newspapers and updated on the AMC's website (www.gsam.in). The NAV will be published along with the Purchase and Redemption Prices. Half yearly The Fund and the AMC shall before the expiry of one month from the Disclosure : close of each half year (March 31st and September 30th) publish its Portfolio / Financial unaudited financial results in one national English daily newspaper Results circulating in the whole of India and in a Marathi daily newspaper. These shall also be displayed on the website of the AMC and that of This is a list of AMFI. Securities where the corpus of the Full portfolio details, in the prescribed format, shall also be disclosed scheme is currently either by publishing it in the newspapers stated above or by sending the invested. The market same to the Unit Holders within one month from the end of each half- value of these year and it shall also be displayed on the website of the AMC. investments is also stated in portfolio disclosures. The Fund and the AMC shall before the expiry of one month from the close of each half year that is on 31st March and on 30th September, publish its unaudited financial results in one national English daily newspaper and in a regional newspaper published in the language of the Half Yearly Results region where the head office of the Fund is situated and update the same on the AMC's website at www.gsam.in and on AMFI's website at www.amfiindia.com in the formats as prescribed by SEBI. Scheme wise annual report or an abridged summary thereof shall be mailed to all Unitholders within four months from the date of closure of the relevant accounts year i.e. 31st March each year. The abridged scheme-wise annual report may be e-mailed to the Unitholder e-mail address if so mandated by the Unitholder and the scheme-wise annual Annual Report report would be displayed on the website (www.gsam.in) of the Mutual Fund. Further, the full text of the annual report shall be available for inspection at the office of the Fund. A copy of the annual report will be sent to the Unitholders, free of cost. Associate Please refer to the Statement of Additional Information. Transactions Taxation The information is based on Indian tax laws as of date of this document and is provided for general information only. However, in view of the 60
  • The information is individual nature of the implications, each investor is advised to consult provided for general his or her own tax advisors/authorised dealers with respect to the specific information only. amount of tax and other implications in any jurisdiction arising out of his However, in view of or her participation in the Scheme. the individual nature of the implications, Goldman Sachs India Resident Investors Mutual Fund1 each investor is Equity Fund (An open- advised to consult ended equity scheme) his or her own tax advisors/authorised dealers with respect to the specific amount of tax and Tax on Dividend Nil Nil other implications Short-term capital gains 15 % p.a. (plus Nil arising out of his or applicable surcharge her participation in and education cess) the schemes. Long-term capital gains Nil Nil (mention the tax 1 Where the Fund receives any income from investments made in rates as per the overseas jurisdictions, the same may be subject to withholding tax (or applicable tax laws) any other tax) in the relevant jurisdiction from which the income is received. As the Fund is exempted from its entire income (including foreign income) in India, credit / refund in respect of such foreign taxes withheld / paid by the fund will not be available. Upon Redemption of the Units, securities transaction tax would be payable by the Unitholders at the rate of 0.25 % of the Redemption Price. For further details on taxation please refer to the clause V on Taxation in the SAI Any complaints should be addressed to Vishal Kamat, who has been appointed as the Investor Relations Officer who shall regularly review the redressal of complaints for assessing the quality and timeliness of the redressal. Mr. Kamat can be contacted at: Address : Fairwinds, 2nd Floor; Embassy Golf Links Business Park; Off Intermediate Ring Road; Investor services Bangalore 560 071 Telephone : +91-80-4145-7653 Fax : +91-80-4145-7501 E-mail : vishal.kamat@gs.com Investors / Unitholders may also contact the Call Centre at its number 1-800-200-2001. D. COMPUTATION OF NAV NAV of Units under the Scheme(s) shall be calculated as shown below Market or Fair Value of Schemes' investments (+) Current Assets (-) Current Liabilities and Provisions 61
  • NAV (Rs.) = No. of Units outstanding under Scheme NAV of the Units of the Scheme will be calculated as of the close of every Business Day. NAVs of the Scheme shall be rounded off and disclosed up to two decimal places. The valuation of the Scheme's assets and calculation of the NAV shall be subject to audit on an annual basis and such Regulations as may be prescribed by SEBI from time to time. Please refer to the Statement of Additional Information for information on the valuation of the assets of Scheme. IV. FEES AND EXPENSES This section outlines the expenses that will be charged to the Scheme. A. NEW FUND OFFER (NFO) EXPENSES These expenses are incurred for the purpose of various activities related to the NFO like sales and distribution fees marketing and advertising, Registrar expenses, printing and stationary, bank charges etc. As per SEBI Circular no. SEBI/IMD/CIR No.1/64057/06 dated April 4, 2006, sales, marketing and other such expenses connected with sales and distribution of the Scheme shall be met from the Entry Load and not through initial issue expenses. The investors shall be charged only to the extent of the Entry Load as specified in the section on Load Structure. Any excess shall be borne by the AMC. B. ANNUAL SCHEME RECURRING EXPENSES These are the fees and expenses for operating the Scheme. These expenses include investment management and advisory fee charged by the AMC, Registrar and Transfer Agents' fee, marketing and selling costs etc. as given in the table below. The AMC has estimated that up to 2.50% of the daily / weekly average net assets of the Scheme will be charged to the Scheme as expenses. For the actual current expenses being charged, the investor should refer to the website of the Mutual Fund. The ongoing fees and expenses of operating the Scheme on an annual basis, and which shall be charged to the Scheme, are estimated to be (each as a percentage of average daily / weekly net assets): Particulars % of Average Daily / Weekly Net Assets Investment management & advisory fee 1.25 Custodial fees 0.03 Registrar & transfer agent fees including cost 0.18 related to providing accounts statement, Dividend/redemption cheques/warrants etc. Marketing & selling expenses including 0.00 agents commission and statutory 62
  • advertisement Brokerage & transaction cost pertaining to 0.80 distribution of Units Audit fees/ fees and expenses of Trustees 0.07 Costs related to investor communications 0.09 Costs of fund transfer from location to 0.00 location Other expenses 0.08 Total Recurring Expenses 2.50 These estimates have been made in good faith as per the information available to the investment manager based on past experience and are subject to change inter-se. Types of expenses charged shall be as per the Regulations. The recurring expenses of the Scheme, and the additional management fee shall be as per the limits prescribed under sub-regulation 6 of Regulation 52 of the SEBI Regulations and shall not exceed the limits prescribed thereunder. Currently, as per the Regulations, the maximum recurring expenses that can be charged to an equity Scheme shall be subject to a percentage limit of average daily / weekly net assets as given below: First Next Next On the balance Rs. 100 crore Rs. 300 crore Rs. 300 crore assets 2.50% 2.25% 2.00% 1.75% Subject to Regulations and the Offer Document, expenses over and above the prescribed ceiling will be borne by the AMC, Trustees or the Sponsor. As per the Regulations, the AMC is entitled to an investment management and advisory fee at the rate of 1.25% per annum of the daily / weekly average net assets outstanding in each accounting year for the Scheme concerned, as long as the net assets do not exceed Rs 100 crore (rupees one hundred crores only) and 1.00% of the excess amount over Rs 100 crore (rupees one hundred crores only), where net assets so calculated exceed Rs 100 crore (rupees one hundred crores only). For schemes launched on a no Load basis, the AMC is entitled to collect an additional management fee not exceeding 1% of the daily weekly average net assets outstanding in each financial year. C. LOAD STRUCTURE Load is an amount which is paid by the investor to subscribe to the Units or to Redeem the Units from the Scheme. This amount is used by the AMC to pay commissions to the Distributor and to take care of other marketing and selling expenses. Load amounts are variable and are subject to change from time to time. For the current applicable structure, please refer to the website of the AMC (www.gsam.in) or may call the Registrar at 1-800- 200-2001 (toll free number) or your Distributor. ENTRY LOADS (during NFO Period as % of Rs 10/-; during Ongoing Offer Period as % of Applicable NAV) For Purchases In respect of each Purchase of Units less than Rs. 5 crores in value: 2.25% In respect of each Purchase of Units equal to or 63
  • greater than Rs. 5 crores in value: Nil For Systematic Investment Plan 2.25% For Switch-ins (not available during See Switch Loads table below NFO Period) For Fund of Funds schemes Nil For Dividend Re-investment Nil EXIT LOADS (as % of Applicable NAV) For Redemptions (including as part of 1% if the Units are Redeemed / Switched-out Systematic Withdrawal Plan / Switch- within 6 months of allotment outs and Redemptions from Systematic Investment Plans) 0.5% if the Units are Redeemed / Switched-out after 6 months, but within 1 year of allotment No Exit Load will be charged if the Units are Redeemed after 1 year of allotment. For Fund of Funds schemes Nil In case an investor has Purchased Units on more than 1 Business Day, the Units Purchased prior in time, will be Redeemed first i.e. on a First-in-First-Out (FIFO) basis, and the Exit Load applicable to each of the Units would correspond to the period of time the Units were held by the Unitholder. SWITCH LOADS If the Entry Load of the Scheme is The difference in the entry loads will be charged by greater than the entry load of the scheme the Scheme of the Fund from which the switch-out is being made If the Entry Load of the Scheme is equal The Scheme will charge no Entry Load to or lower than the entry load of the scheme of the Fund from which the switch-out is being made Investors should note that the scheme of the Fund from which the switch-out is being made may charge an exit load for switch-outs. Please refer to the scheme information document of the relevant scheme before applying for a Switch-in. In the case of Switch-outs from the Scheme to another scheme of the Fund, the scheme to which the switch-in is being made will charge the difference in the entry loads if the entry load of the switch-in scheme is higher than that of the Scheme. Please refer to the scheme information document of the relevant scheme before applying for a Switch-in or a Switch-out. No Entry Load/Exit Load is chargeable in case of Switch-in and Switch-out made between different Options of the Scheme. As per SEBI Circular SEBI/IMD/CIR No. 10/ 112153 /07 dated December 31, 2007, no Entry Load shall be charged for direct applications (including Switch-ins) received by the AMC i.e. applications received at any of the Official Points of Acceptance that are not routed through any distributor/agent/broker. Further as per SEBI Circular SEBI/IMD/CIR No. 14/120784/08 dated March 18, 2008, no Load (Entry Load as well as Exit Load) will be charged by the AMC on Units allotted on reinvestment of Dividends. Subject to Regulations, the Entry Load / Exit Load set forth above is subject to change at the discretion of the AMC and the AMC may decide to introduce a differential Load structure on 64
  • the Units Redeemed on any Business Day. Such changes will be applicable prospectively. In case of the change in Load Structure, the AMC will issue an addendum and display it on the website (www.gsam.in). The addendum will also be circulated to all the Distributors / brokers so that the same can be attached to all the Scheme Information Documents and Key Information Memorandum in stock till it is updated. The AMC would make arrangements to display the addendum in the Scheme Information Document in the form of a notice in all the Investor Service Centres and Distributors/brokers office. The introduction of the Exit Load along with the details may be stamped in the acknowledgement slip issued to the investors on submission of the Application Form and may also be disclosed in the statement of accounts issued after the introduction of such Load. A public notice shall be given in respect of the change in one English daily newspaper having nationwide circulation as well as in a newspaper published in the language of region where the head office of the Mutual Fund is situated. Any other measures which the Mutual Fund may feel necessary would be undertaken. All Loads collected on Units shall be retained in the Scheme and maintained in a separate account and would strictly and fully be utilised by the AMC in providing distribution related services to the Mutual Fund relating to the sale, promotion, advertising and marketing of Units of the Scheme, including payments to brokers / Registrars for their services in connection with the distribution of the Units. Any surplus in this account may be credited to the Scheme, whenever felt appropriate by the AMC. The AMC may carry forward the balance in the Load account to the next year. D. WAIVER OF LOAD FOR DIRECT APPLICATIONS. Pursuant to SEBI Circular SEBI/IMD/CIR No. 10/ 112153 /07 dated December 31, 2007, no Entry Load shall be charged for direct applications (including Switch-in) received by the AMC i.e. applications received at any of the Official Points of Acceptance that are not routed through any Distributor/agent/broker. It shall also be applicable to additional Purchases done directly by the Unitholder under the same folio and Switch-in to the Scheme from other schemes of the Fund. Further as per SEBI Circular SEBI/IMD/CIR No. 14/120784/08 dated March 18, 2008, no Load will be charged by the AMC on Units allotted on reinvestment of Dividend. V. RIGHTS OF UNITHOLDERS Please refer to the Statement of Additional Information for details. VI. UNITHOLDERS' SERVICES 1. Efficient and Timely Processing of Transactions The Fund endeavours to process investor applications in an efficient and timely manner. The Fund provides the following services: Investor Service Centres of the Registrar in major metros 65
  • The AMC presently has an agreement / contract / service level agreement with the Registrar who has set up Investor Service Centres in various cities. The details of Investor Service Centres are given in the back cover of this Scheme Information Document. Over a period of time, the AMC will endeavour to add further Investor Service Centres and / or sales offices in other cities. The AMC reserves the right to designate from time to time, internet sites as Official Points of Acceptance of transactions. Each Investor Service Centre of the AMC provides investors with requisite information and help in processing transactions in the Schemes of the Mutual Fund. Process transactions in a timely manner Under normal circumstances, the Fund will endeavour to complete monetary transactions such as dispatch of Redemption proceeds generally within 3 working days but not later than 10 working days from the date of Redemption from the Scheme at the Official Points of Acceptance. Ordinarily, non-monetary transactions or requests such as change of address, bank details, etc. will be processed (with the exception of issue of Unit certificates) within 7 working days under the Scheme. Investors should note that completion of monetary / non-monetary transactions within the respective number of working days as indicated above, would be done on "reasonable efforts" basis and completion of all such transactions are subject to the time limits as prescribed under the Regulations. 2. Information about the Scheme In addition to the periodic disclosures by the AMC mentioned in this Scheme Information Document, the AMC may produce and mail to existing Unitholders, periodic reports on the functioning of the Mutual Fund and the Scheme. The same may also be placed on the AMC's website (www.gsam.in) to provide existing and potential investors with a summary of the current thinking of the AMC and outline the investment strategy with respect to the Scheme. Subject to the Unitholder providing such documents as the Trustees / AMC may deem fit and necessary, the Trustees / AMC may in its absolute discretion, and in compliance with and as may be required under applicable Laws and the Regulations, authorise the disclosure to such Unitholder of information pertaining to the Scheme. The Trustees / AMC may not supply information to any Unitholder under circumstances where it reasonably believes that such disclosure involves a material risk of information being utilised contrary to the best interests of the Unitholders of the Scheme. 3. Receiving Account Statement / Correspondence by e-mail The AMC will encourage the investors to provide their e-mail addresses for all correspondence. The AMC will endeavour to send account statements and any other correspondence (in accordance with the Regulations) including annual reports using e- mail as the mode for communication as may be decided from time to time. The Unitholder will be required to download and print the account statement after receiving the e-mail from the AMC. Should the Unitholder experience any difficulty in accessing the electronically delivered account statement, the Unitholder shall promptly advise the AMC to enable the AMC to make the delivery through alternate means. Failure to advise the AMC of such difficulty within 24 hours after receiving the e-mail will serve as an affirmation regarding the acceptance by the Unitholder of the account statement. 66
  • It is deemed that the Unitholder is aware of all security risks including possible third party interception of the account statements and content of the account statements becoming known to third parties. Subject to applicable Laws, the Mutual Fund or anyone involved in creating, producing, delivering or managing the account statements of the Unitholders, shall not be liable for any direct, indirect, incidental, special or consequential damages that may result from the use of or inability to use the service or out of the breach of any warranty. The use and storage of any information including, without limitation, the password, account information, transaction activity, account balances and any other information available on the Unitholder's personal computer is at the risk and sole responsibility of the Unitholder. 4. Personal Identification Number (PIN) The PIN facility may be made available to the Unitholders. Unitholders will be required to indicate their desire to avail of this facility and also indicate their bank account number, name of the bank and branch in the application for purchasing Units at a future date. A form together with detailed terms and conditions will be mailed to such Unitholders subject to which usage of the PIN will be permitted. On receipt of the form duly signed, the PIN will be mailed to each Unitholder. Unitholders may use the PIN to carry out one or more of the following types of transactions (as may be enabled by the Mutual Fund) by calling the Investor Service Centres / call centres only: • Redemption • Switch • Static data changes viz. address change, change of bank mandate, etc. The Unitholder will be asked for the PIN before the request is accepted. In the interest of the Unitholder, the Investor Service Centre reserves the right to ask for a fax confirmation of the request and any other additional information about the account of the Unitholder. The PIN should never be disclosed to any person or written down where any other person may discover it. All transactions conducted with use of this PIN will be the responsibility of the Unitholder and the Unitholder will abide by the record of the transactions generated. The Mutual Fund and the Investor Service Centre / Registrar shall not accept any responsibility for the unauthorised use of the PIN. 5. Electronic Clearing Service (ECS) ECS is a facility offered by RBI, for facilitating better customer service by direct credit of Dividend/Redemption proceeds to an investor's bank account through electronic credit. This helps in avoiding loss of Dividend/Redemption warrants in transit or fraudulent encashment. The AMC will endeavour to arrange such facility for payment of Dividend/Redemption proceeds to the Unitholders. However, this facility is optional for the investors. It may be specifically noted that there is no commitment from the AMC that this facility will be made available to the Unitholders for payment of Dividend/ Redemption proceeds. While the AMC will endeavour to arrange the facility, provision of this facility will be dependent on various factors including sufficient demand for the facility from Unitholders at any centre, as required by the authorities. In places where such a facility is not available or if the facility is discontinued by the Scheme for any reason, the AMC shall dispatch to the Unitholders the Dividend proceeds in the manner provided in the manner set out in this Scheme Information Document. VII. PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTIONS OR INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN 67
  • TAKEN OR IS IN THE PROCESS OF BEING TAKEN BY ANY REGULATORY AUTHORITY This section shall contain the details of penalties, pending litigation, and action taken by SEBI and other regulatory and Govt. Agencies. 1. All disclosures regarding penalties and action(s) taken against foreign Sponsor(s) may be limited to the jurisdiction of the country where the principal activities (in terms of income / revenue) of the Sponsor(s) are carried out or where the headquarters of the Sponsor(s) is situated. Further, only top 10 monetary penalties during the last three years shall be disclosed. There are no penalties and action(s) taken by SEBI and other regulatory and government agencies against the Sponsor in the last three years. 2. 1n case of 1ndian Sponsor(s), details of all monetary penalties imposed and! or action taken during the last three years or pending with any financial regulatory body or governmental authority, against Sponsor(s) and! or the AMC and! or the Board of Trustees /Trustee Company; for irregularities or for violations in the financial services sector, or for defaults with respect to share holders or debenture holders and depositors, or for economic offences, or for violation of securities law. Details of settlement, if any, arrived at with the aforesaid authorities during the last three years shall also be disclosed. Not applicable. Details of all enforcement actions taken by SEBI in the last three years and/ or pending with SEBI for the violation of SEBI Act, 1992 and Rules and Regulations framed there under including debarment and! or suspension and/ or cancellation and/ or imposition of monetary penalty/adjudication/enquiry proceedings, if any, to which the Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee Company and/ or any of the directors and/ or key personnel (especially the Fund Manager) of the AMC and Trustee Company were/ are a party. The details of the violation shall also be disclosed. There are no enforcement actions taken by SEBI in the last three years and/ or pending with SEBI for the violation of SEBI Act, 1992 and Rules and Regulations framed there under including debarment and/ or suspension and/ or cancellation and/ or imposition of monetary penalty/adjudication/enquiry proceedings, if any, to which the Sponsor and/ or the AMC and/ or the Trustee Company and/ or any of the directors and/ or key personnel (especially the Fund Manager) of the AMC and Trustee Company were/ are a party. Any pending material civil or criminal litigation incidental to the business of the Mutual Fund to which the Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee Company and/ or any of the directors and/ or key personnel are a party should also be disclosed separately. There are no pending material civil or criminal litigation by SEBI and other regulatory and Govt. Agencies incidental to the business of the Mutual Fund to which the Sponsor and/or the AMC and/or the Trustee Company and/ or any of the directors and/ or key personnel are a party. Any deficiency in the systems and operations of the Sponsor(s) and/ or the AMC and! or the Board of Trustees/Trustee Company which SEB] has specifically advised to be disclosed in the SID, or which has been notified by any other regulatory agency, shall be disclosed. There are no deficiency in the systems and operations of the Sponsor and/ or the AMC and/ or 68
  • the Trustee Company which SEBI has specifically advised to be disclosed in the SID, or which has been notified by any other regulatory agency to be to be disclosed in the SID. Notwithstanding anything contained in this Scheme Information Document, the provisions of the SEBI (Mutual Funds) Regulations, 1996 and the guidelines there under shall be applicable. 69
  • Following shall be the official points of acceptance of transaction requests in the Schemes of the Mutual Fund: OFFICIAL POINTS OF ACCEPTANCE DURING THE NFO PERIOD Sr.no Bank Branch Location Address 1 HDFC BANK LTD AGRA Shop No F3,F3-A1st Floor , Friend's Plaza , Sanjay Place Agra-282 002 2 HDFC BANK LTD AHMEDABAD Astral " Buildingnext To HDFC House,Opp. Reliance General Insurance Building, Near Mithalkhali Six Roads, Navr 3 HDFC BANK LTD AJMER Amc No - 13/10 & 14/10near Suchma Kendra , Adajcent To Swami Complexajmer-305 001 4 HDFC BANK LTD ALIGARH 3-316 Ramghat Roadnear Devi Tray Hospital Aligarh-202 001 5 HDFC BANK LTD ALLAHABAD 2nd Floor, Above Honda Showroom,58, Sardar Patel Marg,Civil Linesallahabad-211 003 6 HDFC BANK LTD AMBALA Shingar Palace Complexnicholson Roadambala Cantt-133 001 7 HDFC BANK LTD AMRAVATI C/O Rasik Plaza , Jaistambh Chowkmorshi Roadamravati-444 601 8 HDFC BANK LTD AMRITSAR 1st Floor , R.S Towers Hall Bazar Amritsar-143 001 9 HDFC BANK LTD ANAND 1st Floor , Sanket Towersopp Anand Arts College , Grid Roadanand-388 001 10 HDFC BANK LTD ASANSOL Cms Deptp C Chatterjee Market , G.T Road , Rambhandu Talaasansol-713 303 11 HDFC BANK LTD AURANGABAD Shivani Chambersmanjeet Nagar , Jalna Road , Opp Akashwaniaurangabad-431 001 12 HDFC BANK LTD BANGALORE No 8 / 24 Salco Centrerichmond Roadbangalore-560 025 13 HDFC BANK LTD BARIELLY 154 , Krishna Palacecivil Linesbareilly-243 001 14 HDFC BANK LTD BARODA 5th Floor , Midway Heightsnext To Panchmukhi Hanuman Temple , Lokmanya Tilak Road ,Kirti Mandir ,Near Kala 15 HDFC BANK LTD BHARUCH Near Octroi Naka Link Roadnear Octroi Naka , Link Roadbharuch-392 001 16 HDFC BANK LTD BHAVNAGAR 1st Floor , Gopi Arcadeopp Takhteshwar Post Office , Waghawadi Roadbhavnagar-364 001 17 HDFC BANK LTD BHILAI Chauhan Estateg.E Road , Supelabhilai-490 023 18 HDFC BANK LTD BHOPAL Service Branch , 1st Floor , Z-1 , Zone 1m P Nagarbhopal-462 011 19 HDFC BANK LTD BHUBANESHWAR Junction Of Janpath & Gandhi Marghotal Jajati Complex , Kharvelanagar , Unit - Iii , Master Canteen Square Bhuban 20 HDFC BANK LTD BIKANER Roshan Plazarani Bazarbikaner-334 001 21 HDFC BANK LTD BOKARO B-9 City Centre , Sector Ivb - 9 , City Center , Sector Iv , Bokaro Steel Citybokaro-827 004 22 HDFC BANK LTD BURDWAN 45 G.T Roadbirhata Burdwan-713 001 23 HDFC BANK LTD CHANDIGARH Sco 371/372sector 35 - Bchandigarh-160 034 24 HDFC BANK LTD CHENNAI Mariam Centre , Ground Floor751 B , Anna Salaichennai-600 002 25 HDFC BANK LTD COCHIN 1st Floor, Sl Plazapalarivattomcochin-682 025 26 HDFC BANK LTD COIMBATORE 1635 Classic Towertrichy Roadcoimbatore-641 018 27 HDFC BANK LTD CUTTACK Bajrakbati Roadcuttack-753 001 28 HDFC BANK LTD DEHRADUN 56 , Rajpur Roaduttaranchaldehradun-248 001 29 HDFC BANK LTD DELHI Figops , Ist Floorkailash Building , 26 K G Margnew Delhi-110 001 70
  • Sr.no Bank Branch Location Address 30 HDFC BANK LTD DHANBAD Sri Ram Plaza , 1st Floorbank More Dhanbadjharkhand-826 001 31 HDFC BANK LTD DURGAPUR A102 & 103, City Centrebengal Shristi Complex , City Center , Durgapur Roaddurgapur-713 216 32 HDFC BANK LTD GORAKHPUR Cms Dept , Prahlad Rai Trade Centreayodhya Crossing , Bank Roadgorakhpur -273 001 33 HDFC BANK LTD GUNTUR 87-90 , Main Roadlakshmipuramguntur-52 2007 34 HDFC BANK LTD GUWAHATI Fancy Bazar Branch - Wbomishra Complex Jail Roadguwahati-781 001 35 HDFC BANK LTD GWALIOR Block G1 , Plot No . 43anand Deep Building ,City Centregwalior-474 011 36 HDFC BANK LTD HUBLI T B Revankar Complexvivekanand Hospital Roadhubli-580 029 37 HDFC BANK LTD HYDERABAD 6-1-73 3rd Floor Saeed Plazalakadikapaulhyderabad-500 004 38 HDFC BANK LTD INDORE 3 Rd Floor , 9/1a , U.V.Housesouth Tukonj Indore-452 001 39 HDFC BANK LTD JABALPUR 1702 , Naiper Town Model Roadjabalpur-482 002 40 HDFC BANK LTD JAIPUR 1st Floor ,O - 10 , Ashok Margahimsa Circle , C Schemejaipur-302 001 41 HDFC BANK LTD JALANDHAR 911 , Near Narinder Cinema G T Roadjalandhar-144 001 42 HDFC BANK LTD JAMMU Cb 13 , Railhead Complexgandhi Nagar , Jammu Tawijammu-180 001 43 HDFC BANK LTD JAMNAGAR Plot No 6 , Park Colonyst Ann's School , Bedi Bunder Roadjamnagar-361 008 44 HDFC BANK LTD JAMSHEDPUR C/O Mithila Motors Ltdnear Ram Mandir , Bistupurjamshedpur-831 001 45 HDFC BANK LTD JODHPUR Plot No 57 / B 9th Chopasani Roadjodhpur-342 003 46 HDFC BANK LTD JUNAGADH Moti Palace , Ground Flooropp Raijinagarjunagadh-362 001 47 HDFC BANK LTD KANPUR Navin Market Branch15/46 Civil Lines Kanpur-280 001 48 HDFC BANK LTD KOLHAPUR Gem Stone , Raosaheb Vichare Complex517 , E Ward , New Shahupuri , Near Central Bus Stand And Parikh Pool Ko 49 HDFC BANK LTD KOLKATA ABHILASHA II ,6 1st Floor, 6 Royd Streetkolkata-700 016 50 HDFC BANK LTD KOTA Show Room No 13 - 14main Jhalawar Roadkota-324 007 51 HDFC BANK LTD LUCKNOW Pranay Tower,Darbari Lal Sharma Margbeside Pratibha Cinema Lucknow-226 001 52 HDFC BANK LTD LUDHIANA Cms Dept , 5th Floormall Roadludhiana-141 001 53 HDFC BANK LTD MADURAI Nithtya Kalyani Towers , No 34, Krishnayar Tank Streetno . 8 , North Veli Streetmadurai-625 001 54 HDFC BANK LTD MEERUT 1st Floor ,381 Western Kutchery Roadmeerut-250 001 55 HDFC BANK LTD MEHSANA Prabhu Complex , Near Raj Kamal Petrol Pumpabhu Highwaymehsana-384 002 56 HDFC BANK LTD MORADABAD Chaddha Shopping Complexgmd Roadmoradabad-244 001 57 HDFC BANK LTD MYSORE Mythiri Arcade1st Main , Saraswathipurammysore-570 009 58 HDFC BANK LTD NADIAD Shoot Out Building , Nadiad Ice Factory Compoundcollege Roadnadiad-387 001 59 HDFC BANK LTD NAGPUR 303 & 304 3rdfloor , Wardh Road12, Milestone, Near Lokmat Square, Nagpur-440 010 60 HDFC BANK LTD NASIK Archit Centre , 3rd Floor , Chandak Circle Link Roadopp Sandeep Hotel , Near Mahamarg Bus Standnasik-422 002 61 HDFC BANK LTD NAVSARI Nandini Complex , Ground Floorstation Road , Sandh Kuvanavsari-396 445 62 HDFC BANK LTD PANIPAT 801 / 4 , G.T Roadpanipat-132 103 63 HDFC BANK LTD PANJIM Swami Vivekanand Road301 , Milroc Lar Menezes,Opp Gomantak Maratha Samazpanjim-403 001 71
  • Sr.no Bank Branch Location Address 64 HDFC BANK LTD PATIALA S.C.O 70 - 73 , Leela Bhawan Marketpatiala-147 001 65 HDFC BANK LTD PATNA Rajendra Ram Plazaexhibition Roadpatna-800 001 66 HDFC BANK LTD PONDICHERRY Ts No 6 , 100 Feet Roadellaipillaichavadypondhicherry-605 005 67 HDFC BANK LTD PUNE Fortune Squaremodel Colony Pune-411 016 68 HDFC BANK LTD RAIPUR Chawla Tower, Near Bottle Houseshankar Nagarraipur-492 001 69 HDFC BANK LTD RAJKOT Opp Alfred High School2nd Floor , Panchratna Bldg , Jawahar Roadrajkot-360 001 70 HDFC BANK LTD RANCHI Rohini 1st Floor 56 Circular Roadranchi -834 001 71 HDFC BANK LTD ROURKELA Bisra Road , Dwivedi Bhawandwivedi Squarerourkela-769 001 72 HDFC BANK LTD SALEM 5 / 241 - F , Rathna Arcadeomalur Main Roadsalem-636 004 73 HDFC BANK LTD SHIMLA Jankidas Building,3, The Mall Shimla-171 001 74 HDFC BANK LTD SILIGURI 3 No , Ramkrishna Samity Buildingsevoke Road, Pani Tanki More,Siliguri-734 401 75 HDFC BANK LTD SOLAPUR Sun Plaza , 1st Floor 8516 / 11, Murarji Peth , Lucky Chowk Solapur-413 007 76 HDFC BANK LTD SRINAGAR M.S Shopping Mall , Residency Roadsrinagar-190 001 77 HDFC BANK LTD SURAT 7th Floor, Kashi Plazanext To Dr Bipin Desai Children Hospital , Majura Gatesurat-395 002 78 HDFC BANK LTD TRICHY A - 10 , Lakshmi Arcade11th Cross Main Road , Thillainagartrichy-620 018 79 HDFC BANK LTD UDAIPUR 358 Post Office Roadchetak Circle , Adjacent To Chetak Cinemaudaipur-313 001 80 HDFC BANK LTD VALSAD 1st Floor ,Ekta Appt , Near R J J High Schoolthithal Roadvalsad-396 001 81 HDFC BANK LTD VAPI Lower Ground , Emperor Arcadechala Roadvapi-396 191 82 HDFC BANK LTD VARANASI D 58 / 2 Kuber Complexrathyatra Crossingvaranasi-221 010 83 HDFC BANK LTD VIJAYWADA 40 - 1 -48 / 2 , M.G Roadlabbipetvijaywada-520 010 84 HDFC BANK LTD VISHAKAPATNAM 1st Floor , Poduri Castleabove Rayomond Showroom Dwarka Nagarvishakapatnam-530 016 85 HDFC BANK LTD WARANGAL No 1-8-605 / 1 Nakkalguttahanamkondawarangal-506 002 1 Citibank Ahmedabad 3rd Flr,"Rembrandt" C.G Road, Near Panchvati Circle,Ahmedabad-380 006 2 Citibank Aurangabad CTS No 498, Nirala Bazaar, Opp. S.B. College Bus Stop.,Aurangabad-431001 3 Citibank Bangalore 506,5th Flr,Prestige Meridian 2, 30 Mahatma Gandhi Road,,Bangalore-560 001 4 Citibank Bhopal 133 Zone1 Kaykay Business Centre,M P Nagar,Opp Hotel Residency,Bhopal-462011 5 Citibank Bhubaneshwar Unit 3 ,98 Janpath Station Square,Bhuba-751001 6 Citibank Chandigarh Sco132/133,Sector 9c,Madhya Marg,Chandigarh-160 017 7 Citibank Chennai No.2 Club House Road, 3rd Floor, ,Chennai-600 002 8 Citibank Coimbatore 1st Flr, Tristar Towers, 657 Avinashi Road ,Coimbatore-641 037 9 Citibank Hyderabad Citibank N.A , Queens Plaza, S.P. Road, Begumpet, Secunderabad :- 500003,Hyderabad-500 016 10 Citibank Indore Ug 1, Apollo Square,7/2 Race Course Road,Opp Narayan Kothi,Sawarkar Pratima Chowk,Indore-452007 11 Citibank Jaipur 2nd Flr,Bhagwati Bhawan, Govt Hostel Crossing,MI Road, 2nd Floor,Jaipur-302 001 72
  • Sr.no Bank Branch Location Address 12 Citibank Jalandhar 36 Gobind Niwas,G T Road,Jalandhar-144001 13 Citibank Kochi Fotofast House,38/1581,M G Road,Padma Junction,Kochi-682 035 14 Citibank Kolkata 9, Brabone Road, Kolkata -1 15 Citibank Kolkata Kanak Bldg, 1st Floor, 41,Chowringhee Road,,Kolkata-700 071 16 Citibank Lucknow 17/1, Amren House, Ashok Marg,,Lucknow-226001 17 Citibank Ludhiana Ludhiana Stock Exchange, Ground Flr ,Feroze Gandhi Market,,Ludhiana-141 001 18 Citibank Mumbai 4th Flr, 224, D.N. Road,Fort House, Fort,Mumbai-400 001 19 Citibank Mumbai Air India Building Ground Floor, Nariman Point Mumbai- 400021 20 Citibank Nasik Rishuraj Presidency,Plot No.52 & 53,D'souza Colony, College Road,Nasik-422005 21 Citibank New Delhi 4th Flr ,Jeevan Bharti Bldg 124, Connaught Circus,,New Delhi-110 001 22 Citibank New Delhi Ground Floor, International Trade Towers, Hotel Intercontinental Eros Complex, Nehru Place, New Delhi- 110019 23 Citibank Pondichery No.22,Rue Bussy St,Lal Bahadur Shastri St.,Pondi-605001 24 Citibank Pune Parmar House ,2413 East Street,Camp,Pune-411001 25 Citibank Surat Ghoddod Rd.,Opp.Kakadia Complex,,Surat-395007 26 Citibank Vadodara Pelican, 1st Floor , Opposite Race Course Towers,Gotri Rd,,Vadodara-390007 27 Citibank Vapi The Emperor, 1st Floor, Vapi-Daman Road;Chala,Vapi-396191 1 Standard Chartered Bank MUMBAI 270 D.N.Road,Fort Mumbai 400001 2 Standard Chartered Bank KOLKATA 19 Netaji Subhas Road ,Kolkata 700001 3 Standard Chartered Bank CHENNAI 19, Rajaji Salai ,Chennai 600001 4 Standard Chartered Bank BANGALORE Standard Chartered Bank 26th Floor , West Wing Raheja Tower, M .G Road Banglore –560001 5 Standard Chartered Bank NEW DELHI H2 Connaught Circle New Delhi 110001 6 Standard Chartered Bank AHMEDABAD Abhijeet Ii, Ground Florr Meetakali, 6th Road, Ahmedabad –380006 7 Standard Chartered Bank HYDERABAD Standard Chartered Bank 6-3 1090 Raj Bhavan Road Somajiguda , Hyderabad 500082 8 Standard Chartered Bank Pune Shrirang House, 364-365,Junglee Maharaj Road, Shivaji Nagar, Pune – 411 005 9 Standard Chartered Bank COCHIN Xxiv/ 1633, Kpk Menon Road ,Willingdon Island, Cochin- 682003 10 Standard Chartered Bank SURAT C.K.Tower,1st Floor,Nr.Sargam Shopping Center,Towards Surat-Dumas Rd.,,Parle Point, Surat -395007 11 Standard Chartered Bank BARODA Gokulesh, R C Dutt Road,,Vadodara – 390 009 12 Standard Chartered Bank JAIPUR H8, Showroom No.1,,Bhagwat Bhawan,,Mi Road, Jaipur 13 Standard Chartered Bank CHANDIGARH Sco, 137-138,Sector – 9c, Madhya Marg,Chandigarh. 14 Standard Chartered Bank JALANDHAR Plot No. 34, G. T. Road,Jalandhar. 144 001. 73
  • Sr.no Bank Branch Location Address 15 Standard Chartered Bank COIMBATORE 509, D. B. Road,R.S.Puram,Coimbatore- 641 002. 16 Standard Chartered Bank KANPUR 16/105, M.G. Marg,,Kanpur – 208 001 17 Standard Chartered Bank LUCKNOW 4 Shahnajaf Road ,Lucknow ,Up-226001 18 Standard Chartered Bank LUDHIANA Sco 16-17, Feroze Gandhi Market,Ludhiana,Punjab- 141001 19 Standard Chartered Bank AMRITSAR Gandhi Bazar ,The Mall,Post Box 3,Amritsar-143001 20 Standard Chartered Bank BHOPAL Ground Floor, Northern Wing,,Alankar Complex,Plot No.10,Zone Ii,,Mp Nagar, ,Bhopal-462011. 21 Standard Chartered Bank GUWAHATI G N Bardoli Road,Ambari –Guwahati,Guwahati-781001 22 Standard Chartered Bank Nagpur Narang House, Palm Road, Civil Line,Nagpur 440001 23 Standard Chartered Bank Rajkot Business Empire, 5 Jagnath Plot, Gymkhana Road,Rajkot 360002 24 Standard Chartered Bank Patna Bhagwati Dwaraka Arcade, Plot No: 830 P, Exhibition Road, Patna -800 001 25 Standard Chartered Bank Bhubaneshwar Plot No 3, Bapuji Nagar, Janpath,Bhubaneshwar 751 009 26 Standard Chartered Bank Allahabad 2 Sardar Patel Marg, Civil Lines, Allahabad 211 001 27 Standard Chartered Bank Indore 21/1 Dm Tower , Race Cource Road, Indore 452001 74
  • HDFC BANK LIMITED Contact Persons Mobile Land Line (Extn.no) Fax No Email Address HDFC Bank Ltd Mr Deepak Rane 9324272185 022- 66573746 and 022-22700272 022 - 22700024 deepak.rane@hdfcbank.com BTI Ops Department Mr.Clayton Mendonca 9324714629 022- 66573749 and 022-22700272 022 - 22700024 clayton.mendonca@hdfcbank.com Maneckji Wadai Bldg Mr.Uday Dixit 9322157474 022 - 66573748 022 - 22700024 uday.dixit@hdfcbank.com ,3rd Floor Mr.Tushar Prabhu 9324178092 022 - 22700034 022 - 22700024 tushar.prabhu@hdfcbank.com Nanik Motwani Marg Fort Mr.Siddharth Jadhav 9324177781 022 -66573663 022 - 22700024 siddharth.jadhav@hdfcbank.com Mumbai - 400 001. OFFICIAL POINTS OF ACCEPTANCE DURING ONGOING OFFER PERIOD (A) List of Transaction Points of the Registrar during the Ongoing Offer Period. Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e 28 Agra Citiba No. 8, Maruti Sanjay Uttarpr Agr 28 camsagr@ca 056 324 324 252 nk II Floor Tower Place adesh a 20 msonline.co 2 0202 2267 1 02 m 170 29 Ajmer Citiba Shop Swami Rajasth Aj 30 camsajm@c 014 329 242 nk No.S-5, Complex an mer 50 amsonline.c 5 2040 581 Second 01 om 4 Floor 30 Allaha SCB No.7 Ist Bihari 3, S.P. Uttarpr All 21 camsall@ca 053 329 329 260 bad Floor Bhawan Marg, adesh aha 10 msonline.co 2 1273 1274 068 Civil bad 01 m 0 Lines 31 Alwar Citiba 256A, Arya Rajasth Al 30 camsalw@c 014 32004 270 nk Scheme Nagar an war 10 amsonline.c 4 51 232 No:1, 01 om 4 32 Amara Citiba 81, Near Mahara Am 44 camsama@c 072 329 32053 256 vati nk Gulsha Panchsheel shtra ara 46 amsonline.c 1 1965 36 430 m Talkies vati 01 om 4 Tower, 2nd Floor 33 Amrits SCB 378- M. M. Punjab Am 14 camsamt@c 018 325 98720 221 ar Majithi Malviya rits 30 amsonline.c 3 7404 04056 119 75
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e a Road ar 01 om 4 Comple x, 1st Floor 34 Anand Citiba 101, B/H, Next to Gujarat An 38 camsana@c 026 32507 32070 240 nk A.P. Sardhar Nathwani and 80 amsonline.c 92 1 4 981 Tower, Gunj Chambers 01 om 35 Asans Citiba Block – P C Ramband West Asa 71 camsasa@ca 034 329 329 221 ol nk G 1st Chatterjee hu Talab Bengal nso 33 msonline.co 1 5235 8306 605 Floor Market P O l 03 m 4 Complex Ushagra m 36 Auran Citiba Office Amodi Juna Mahara Aur 43 camsaur@ca 024 329 32051 236 gabad nk No. 1, Complex Bazar shtra ang 10 msonline.co 0 5202 41 366 1st aba 01 m 4 Floor d 37 Belgau Citiba Tanish CTS No. Tilakwadi Karnata Bel 59 camsbel@ca 083 329 242 m nk Tower 192/A, ka gau 00 msonline.co 1 9598 530 Guruwar m 06 m 4 Peth 38 Berha Not First Gandhi Orissa Orissa Ber 76 camsbrp@c 068 32039 32058 222 mpur activat Floor, Nagar ha 00 amsonline.c 0 33 55 000 ed Upstair Main Road mp 01 om 1 s of ur Aaroon Printers 39 Bhavn Citiba 305- Waghawad OPP. Gujarat Bha 36 camsbha@c 027 32083 32003 256 256 agar nk 306, i Road HDFC vna 40 amsonline.c 8 87 48 702 702 Sterling BANK gar 02 om 0 0 Point 40 Bhilai Citiba 209 , Opp IDBI Nehru Chhatti Bhi 49 camsbhi@ca 078 3299 3299 405 nk Khichar Bank Nagar sgarh lai 00 msonline.co 8 040 049 056 iya Square 20 m 0 Comple x 41 Bhilwa Not C/o F-20-21, Azad Rajasth Bhi 31 camsbhl@ca 014 32080 23180 231 76
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e ra activat Kodwa Apsara Market an lwa 10 msonline.co 82 9 8 808 ed ni & Complex ra 01 m Associa tes 42 Bhopal SCB Plot Major Zone-I, Madhy Bh 46 camsbhp@c 075 329 329 427 No.13 Shopping M.P.Naga a opa 20 amsonline.c 5 5878 5873 559 Center r Pradesh l 11 om 1 43 Bokar Citiba Mazzan F-4, City Bokaro Jharkha Bo 82 camsbkr@c 065 324 326 233 o nk ine Centre, Steel City nd kar 70 amsonline.c 42 881 322 807 Floor Sector 4, o 04 om 44 Burdw Citiba 399, G Basement West Bur 71 camsbdw@c 034 320 320 256 an nk T Road of Talk of Bengal dw 31 amsonline.c 2 7001 7077 858 the Town an 01 om 4 45 Calicut Citiba 29/97G Gulf Air Mavoor Arayi Kerala Cal 67 camsclt@ca 049 325 272 nk 2nd Building Road dathup icut 30 msonline.co 5 5984 317 Floor alam, 16 m 3 46 Cuttac Citiba Near Cantonmen Mata Orissa Cut 75 camscut@ca 067 329 65351 230 k nk Indian t Road Math tac 30 msonline.co 1 9572 23 372 Oversea k 01 m 2 s Bank 47 Daven Citiba 13, Ist Akkamaha Church P.J.Ex Karnata De 57 camsdvg@c 081 32622 32622 230 egere nk Floor, devi Samaj Road tensio ka ven 70 amsonline.c 92 6 7 038 Complex n ger 02 om e 48 Dehra Citiba 204/121 Old Uttaran De 24 camsdun@c 013 325 325 271 dun nk Nari Connaught chal hra 80 amsonline.c 5 1357 8460 323 Shilp Place dun 01 om 3 Mandir Marg 49 Dhanb Not Urmila Room No: Bank Jharkha Dh 82 camsdha@c 032 329 23046 230 ad activat Towers 111(1st More nd anb 60 amsonline.c 6 0217 75 467 ed Floor) ad 01 om 5 50 Erode Citiba 197, Agraharam Tamil Ero 63 camserd@ca 042 320 320 427 nk Seshaiy Street Nadu de 80 msonline.co 4 7730 7733 207 er 01 m 3 Comple 77
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e x 51 Faridh Citiba B-49, Nehru Behind NIT Haryan Fari 12 camsfdb@c 012 32411 32411 241 abad nk Ist Ground Anupam a dha 10 amsonline.c 9 48 47 009 Floor Sweet bad 01 om 8 House 52 Ghazia Not 113/6 I Navyug Uttarpr Gaz 20 camsgha@c 012 32669 32669 991 415 bad activat Floor Market adesh hia 10 amsonline.c 0 17 18 048 447 ed bad 01 om 018 6 9 (mo bile of CH ) 53 Gorak Citiba Shop Cross Bank Uttarpr Gor 27 camsgor@c 055 329 234 hpur nk No. 3, Road, A.D. Road adesh akh 30 amsonline.c 1 4771 406 Second Chowk pur 01 om 5 Floor, The Mall 54 Guntur Citiba Door 5/1 Near Andhra Gu 52 camsgun@c 086 325 668 nk No 5- BRODIPE Ravi Pradesh ntur 20 amsonline.c 3 2671 083 38-44 T Sankar 02 om 8 Hotel 55 Gurga Citiba SCO - Sector-14 Haryan Gur 12 camsgur@c 012 326 326 408 on nk 17, 3rd a gao 20 amsonline.c 4 3763 3833 266 Floor, n 01 om 0 56 Guwah SCB A.K. Rehabari Assam Gu 78 camsgwt@c 036 260 213 ati Azad wa 10 amsonline.c 1 7771 903 Road, hati 08 om 8 57 Gwali Citiba 1st Daji Old High Madhy Gw 47 camsgwa@c 075 320 320 242 or nk Floor, Vitthal Ka Court a alio 40 amsonline.c 1 2873 2311 766 Singhal Bada Road Pradesh r 01 om 2 Bhavan 58 Hosur Citiba Shop OPP Royakott Tamil Hos 63 camshos@c 043 32100 32100 220 nk No.8 J TNEB a Road Nadu ur 51 amsonline.c 44 2 4 200 78
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e D Plaza Office 09 om 59 Hubli Citiba 206 & 'A' Block, Opp Karnata Hu 58 camshub@c 083 329 320 425 nk 207. 1st Kundagol Court, ka bli 00 amsonline.c 6 3374 0114 525 Floor Complex Club road 29 om 5 60 Jabalp Citiba 975,Ch Near 4th Madhy Jab 48 camsjab@ca 076 329 32050 401 ur nk ouksey Gitanjali Bridge, a alp 20 msonline.co 1 1921 62 714 Chamb School Napier Pradesh ur 01 m 6 ers Town 61 Jaland SCB 367/8, Opp. Punjab Jala 14 camsjal@ca 018 32548 22228 222 har Central Gurudwara ndh 40 msonline.co 1 83 82 288 Town Diwan ar 01 m 2 Asthan 62 Jalgao Citiba Rustom 70, Opp. Old Mahara Jalg 42 camsjlg@ca 025 32071 32071 223 n nk ji Navipeth Bus shtra aon 50 msonline.co 7 18 19 534 Infotec Stand 01 m 3 h Service s 63 Jamna Citiba 217/218 P.N. Marg Gujarat Jam 36 camsjam@c 028 329 32062 266 gar nk , Manek nag 10 amsonline.c 8 9737 00 194 Centre ar 01 om 2 64 Jamsh Citiba Millenn Room Bistupur Jharkha Jam 83 camsjpr@ca 065 329 32942 222 edpur nk ium No:15 First nd she 10 msonline.co 7 4594 02 487 Tower, Floor, dpu 01 m 9 "R" r Road 65 Jodhpu Citiba 1/5, Ist Rajasth Jod 34 camsjpd@ca 029 325 32491 262 r nk Nirmal Chopasani an hpu 20 msonline.co 1 1357 44 803 Tower Road r 03 m 9 66 Kolha Citiba AMD Ayodhya Station Mahara Kol 41 camskhp@c 023 3209 3209 265 pur nk Sofex Towers Road shtra hap 60 amsonline.c 1 732 356 040 Office ur 01 om 1 No.7, 3rd Floor 67 Kota Citiba B-33 Triangle Rajasth Kot 32 camskot@ca 074 329 250 79
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e nk 'Kalyan Part an a 40 msonline.co 4 3202 545 Bhawan ,Vallabh 07 m 2 Nagar 68 Kottay Citiba Door Amboorans Manoram Kerala Kot 68 camsktm@c 048 3207 320 230 am nk No. IX / Building a tay 60 amsonline.c 1 011 6093 276 1276 Junction am 01 om 3 69 Manip Not Acade Opposite Upendra Karnata Ma 57 camsmpl@c 082 325 257 al activat my Corporatio Nagar ka nip 61 amsonline.c 0 5827 333 ed Annex, n Bank al 04 om 3 First Floor 70 Meerut Citiba 108 Ist Opposite Uttarpr Me 25 camsmee@c 012 325 242 nk Floor Eves adesh erut 00 amsonline.c 1 7278 123 Shivam Cinema, 02 om 8 Plaza Hapur Road 71 Morad Citiba B-612 Lajpat Uttarpr Mo 24 camsmbd@ 059 329 329 249 abad nk 'Sudhak Nagar adesh rad 40 camsonline. 1 7202 9842 314 ar' aba 01 com 4 d 72 Muzza Not Brahma Durgasthan Gola Bihar Mu 84 camsmuz@c 062 32075 32070 224 farpur activat n toli, Road zaff 20 amsonline.c 1 04 52 602 ed arp 01 om 2 ur 73 Mysor Citiba No.1, CH.26 7th (Above Saras Karnata My 57 camsmys@c 082 32069 32945 234 e nk 1st Main, 5th Trishakth wati ka sor 00 amsonline.c 1 91 03 218 Floor Cross i Puram e 09 om 2 Medicals) 74 Nasik Citiba Ruturan Behind Big Off Mahara Nas 42 camsnsk@c 025 329 325 257 nk g Bazar, College shtra ik 20 amsonline.c 3 7084 0202 744 Bungal Near Boys Road 05 om 8 ow, 2 Town Godava School ri Colony 75 Nellor Citiba 97/56, I Ranganaya Andhra Nel 52 camsnel@ca 086 329 320 230 80
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e e nk Floor kulapet Pradesh lore 40 msonline.co 1 8154 1042 239 Immadi Road, 01 m 8 setty Santhapet, Towers 76 Panipa Citiba 83, Opp ABN Haryan Pan 13 camspan@c 018 325 400 400 t nk Devi Amro a ipat 21 amsonline.c 0 0525 9802 980 Lal Bank, 03 om 2 Shoppi G.T.Road ng Comple x 77 Patiala Citiba 35, Punjab Pati 14 camsptl@ca 017 329 222 222 nk New lal ala 70 msonline.co 5 8926 9633 963 Bagh 01 m 3 Colony 78 Pondic Citiba S-8, (New Pondic Pon 60 camspdy@c 041 421 329 421 herry nk 100, Complex, herry dic 50 amsonline.c 3 0030 2468 003 Jawahar Opp. herr 01 om 0 lal Indian y Nehru Coffee Street House) 79 Raipur Citiba C-24, Devendra Chhatti Rai 49 camsrai@ca 077 3296 32908 288 nk Sector 1 Nagar sgarh pur 20 msonline.co 1 404 30 800 04 m 2 80 Rajah Citiba Cabin 1st Floor Baruvari T Andhra Raj 53 camsrmd@c 088 325 666 mundr nk 101 Krishna Street Nagar Pradesh ah 31 amsonline.c 3 1357 553 y D.no 7- Complex mu 01 om 1 27-4 ndr y 81 Rajkot SCB Office Harihar Opp Limda Gujarat Raj 36 camsraj@ca 028 329 329 222 207 - Chowk Shastri Chow kot 00 msonline.co 1 8158 8206 755 210, Maidan k 01 m 2 Everest Buildin g 82 Ranchi Citiba Near Jharkha Ran 83 camsran@ca 065 329 329 222 81
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e nk Student nd chi 40 msonline.co 1 6202 8058 660 ’s 01 m 1 Cottage Pee Pee Compo und 83 Rourk Citiba 1st Mangal Phase II Power Orissa Ro 76 camsrou@c 066 329 NA ela nk Floor Bhawan House urk 90 amsonline.c 1 0575 Road ela 01 om 84 Salem Citiba No.2, I New Tamil Sal 63 camssal@ca 042 325 320 233 nk Floor Fairlands Nadu em 60 msonline.co 7 2271 0319 059 Viveka 16 m 2 nanda Street, 85 Samba Not C/o Raj Opp.Town Orissa Sa 76 camssam@c 066 329 240 lpur activat Tibrew High mb 80 amsonline.c 3 0591 560 ed al & School,San alp 01 om 6 Associa sarak ur tes 86 Siligur Citiba No 8, Hakimpara West Sili 73 camssil@ca 035 329 253 i nk Swamij Bengal guri 40 msonline.co 3 1103 102 i 01 m 4 Sarani, Ground Floor 87 Thirup Citiba 1(1), II Street, Kumaran Tamil Thi 64 camstrp@ca 042 32012 32012 424 pur nk Binny Road Nadu rup 16 msonline.co 1 71 72 213 Compo pur 01 m 4 und, 88 Tirune Not III 64-D, Tamil Tir 62 camstrv@ca 046 320 320 233 lveli activat Floor, Madurai Nadu une 70 msonline.co 2 0308 0102 368 ed Nellai Road lvel 01 m 8 Plaza i 89 Trichu Not Adam Room Rice Kerala Tri 68 camstur@ca 048 325 242 r activat Bazar no.49, Bazar chu 00 msonline.co 7 1564 064 ed Ground (East) r 01 m 6 82
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e Floor 90 Trichy Citiba No 8, I Thillainaga Tamil Tri 62 camstri@ca 043 329 329 274 nk Floor, r Nadu chy 00 msonline.co 1 6906 6909 171 8th 18 m 7 Cross West Extn 91 Trivan Citiba R S Opposite Pattom Kerala Tri 69 camstvm@c 047 324 324 255 drum nk Comple of LIC PO van 50 amsonline.c 1 0202 1357 417 x Building dru 04 om 8 m 92 Udaip Citiba 32 Fatehpura Rajasth Ud 31 camsudp@c 029 329 245 ur nk Ahinsa Circle an aip 30 amsonline.c 4 3202 456 puri ur 04 om 7 93 Valsad Not Ground Yash Near Tithal Gujarat Val 39 camsval@ca 026 324 32462 NA activat Floor Kamal - Dreamlan Road sad 60 msonline.co 32 202 3 ed "B" d Theater 01 m 94 Varana Citiba C Maldhaiya Uttarpr Var 22 camsvar@ca 054 325 325 220 si nk 27/249 adesh ana 10 msonline.co 2 3264 3265 212 - 22A, si 02 m 6 Viveka nand Nagar Colony 95 Vashi Citiba Mahave Office Sector 17 Mahara Vas 40 camsvsh@c 022 32598 32598 278 nk er No:17, Plot shtra hi 07 amsonline.c 154 155 929 Center No:77 03 om 91 96 Vellor Citiba No:54, Pillaiyar Thotta Tamil Vel 63 camsvel@ca 041 32090 32090 420 e nk Ist Koil Street Palayam Nadu lore 20 msonline.co 6 17 18 223 Floor 04 m 3 97 Waran Citiba F13, 1st BVSS Opp. Hana Andhra Wa 50 camswgl@c 087 320 320 255 gal nk Floor Mayuri Public mkon Pradesh ran 60 amsonline.c 0 2063 9927 488 Complex Garden, da gal 01 om 8 Lashkar Bazaar 98 Balaso Citiba B C Orissa Bal 75 camsbls@ca 067 32680 226 83
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e re nk Sen aso 60 msonline.co 82 8 490 Road re 01 m 2 99 Jammu Citiba 660- J &K Jam 18 camsjmu@c 019 99060 24326 243 nk Gandhi mu 00 amsonline.c 1 82698 01 260 Nagar 04 om 1 10 Bellar Citiba No.18A Opp. Parvathi Karnata Bel 58 camsbry@c 083 32684 32606 268 0 y nk , 1st Ganesh Nagar ka lary 31 amsonline.c 92 8 5 822 Floor Petrol Main 03 om Pump Road 10 Navsar Citiba Dinesh 103 - Nr. Chimn Gujarat Na 39 camsnvs@c 026 32770 32923 24 248 1 i nk Vasani Harekrishn Vasant abai vas 64 amsonline.c 37 9 8 87 744 & a Complex, Talkies Road ari 45 om 45 Associa above tes IDBI Bank, 10 Mathu Citiba 159/160 Uttarpr Mat 28 camsmtr@c 056 32070 32069 240 2 ra nk Vikas adesh hur 10 amsonline.c 5 07 59 422 Bazar a 01 om 9 10 Rohtak Citiba 205, Munjal Delhi Haryan Ro 12 camsrok@c 012 31868 31858 258 3 nk 2ND Complex, Road, a hta 40 amsonline.c 62 7 9 436 Floor, k 01 om Blg. No. 2, 10 Ratlam Not Dafria 81, Bajaj Madhy Rat 45 camsrlm@c 074 32482 32481 235 4 activat & Co Khanna a lam 70 amsonline.c 12 9 7 788 ed Pradesh 01 om 10 Tirupa Citiba Shop 1st Floor, Near Tirum Andhra Tir 51 camstpt@ca 087 32068 32092 Cel 222 5 thi nk No14, Door No. Leela ala Pradesh upa 75 msonline.co 7 87 57 l 505 Boligal 18-8-41B Mahal Byepa thi 01 m No: 6 a Circle ss 984 Comple Road 887 x, 773 7 10 Kalyan Not A - Dist Nadia West Kal 74 camskal@ca 033 32422 32422 250 6 i activat 1/50, Bengal yan 12 msonline.co 712 711 227 ed Block - i 35 m 20 A, 84
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e 10 Bhuj Not Data I st Floor Municipa Statio Gujarat Bh 37 camsbuj@ca 028 32076 32092 227 7 activat Solutio l Building n uj - 00 msonline.co 32 2 4 176 ed n, Opp Road Kut 01 m Office Hotel ch No:17 Prince 10 Solapu Citiba 4, 144, Near Z.P. Mahara Sol 41 camsslp@ca 021 32042 32042 272 8 r nk Lokhan Sidheshwar Opp. shtra apu 30 msonline.co 7 01 00 454 dwala Peth, Pangal r 01 m 8 Tower, High School, 10 Kestop Not AA Sreeparna Ground Kolkat West Kes 70 camskes@c 033 32415 32415 257 9 ur activat 101, Appartmen Floor a Bengal top 01 amsonline.c 332 333 680 ed Prafulla t ur 01 om 98 Kanan 11 Junaga Citiba Circle Near Gujarat Gujarat Jun 36 camsjdh@ca 028 32009 32009 265 0 dh nk Chowk, Choksi aga 20 msonline.co 5 09 08 368 Bazar dh 01 m 2 Kaman, 11 Ankles Citiba G-34, Valia Char Gujarat An 39 camsakl@ca 026 31020 31020 220 1 hwar nk Ravi Rasta, G.I. kles 3 msonline.co 46 6 7 059 Comple D.C., hw 00 m x, ar- 2 Bha ruc h 11 Kolla Not Kochup Near VLC, Kerala Kol 69 camsklm@c 474 32483 32483 Cel 274 w.e.f.1 2 m activat ilamood Beach lam 10 amsonline.c 76 77 l:98 285 3.06.2 ed u Road 01 om 470 0 007 Junctio 675 n 34 11 Jhansi Citiba Opp Babu Lal Gwalior Uttarpr Jha 28 camsjhs@ca 510 32023 233 w.e.f.1 3 nk SBI Kharkana Road adesh nsi 40 msonline.co 99 245 8.06.2 Credit Compound 01 m 5 007 Branch 11 Dhule Citiba H. No. Near Mahara Dh 42 camsdhu@c 256 32990 32990 241 w.e.f.2 4 nk 1793 / Tower shtra ule 4 amsonline.c 2 2 3 281 1.06.2 85
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e A, J.B. Garden 00 om 007 Road 1 11 Aligar Citiba City Ramghat U.P. Ali 20 camsalg@ca 571 32003 32002 240 w.e.f.2 5 h nk Enclave Road gar 20 msonline.co 01 42 208 5.06.2 , Opp. h 01 m 9 007 Kumar Nursing Home 11 Satara Not 117 / A Sargam Mahara Sat 41 camssat@ca 216 32092 32098 281 w.e.f.2 6 activat / 3 / Apartment shtra ara 50 msonline.co 2 6 9 706 8.06.2 ed 22, Shu 02 m 007 krawar Peth 11 Kumb Citiba Jailani 47, Mutt Tamil Ku 61 camskum@ 435 32013 32009 240 w.e.f.2 7 akona nk Comple Street Nadu mb 20 camsonline. 33 11 374 7.06.2 m x ako 01 com 7 007 na m 11 Bhagal Not Dr R P Khalifabag Bihar Bha 81 camsblp@ca 641 32090 32090 240 w.e.f.2 8 pur activat Road Chowk gal 20 msonline.co 93 94 950 8.06.2 ed pur 02 m 6 007 11 Bareill Citiba F-62- Civil Bareill U.P. Bar 24 camsbly@ca 581 32431 32433 255 w.e.f.1 9 y nk 63, Lines y eill 30 msonline.co 72 22 422 6.07.2 Butler y 01 m 8 007 Plaza 12 Akola Citiba Opp. Civil Lines Mahara Ak 44 camsako@c 724 32038 32013 243 w.e.f.1 0 nk RLT shtra ola 40 amsonline.c 30 23 170 0.08.2 Science 01 om 2 007 College 12 Yamu Not 124- Yamunana Haryan Ya 13 camsynr@c 173 31688 31677 225 w.e.f.2 1 na activat B/R gar a mu 5 amsonline.c 2 0 0 339 9.08.2 Nagar ed Model na 00 om 007 Town Na 1 gar 12 Deogh Not S S M Ground Opp. Caster Jharkha De 81 camsdeo@c 643 32022 32082 224 w.e.f.3 2 ar activat Jalan floor Hotel Town nd ogh 41 amsonline.c 2 7 7 468 0.08.2 86
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e ed Road Ashoke ar 12 om 007 12 Ahme Citiba 203- Old Vasant Market Ahme Mahara Ah 41 camsamn@c 241 32042 32043 232 w.e.f.0 3 dnagar nk A,Muth Talkies Yard dnagar shtra me 4 amsonline.c 21 09 032 6.09.2 a Road dna 00 om 5 007 Chamb gar 1 ers 12 Porban Citiba II Opp. M G Gujarat Por 36 camspor@c 286 32077 32052 224 w.e.f.2 4 dar nk Floor, Vodafone Road ban 05 amsonline.c 67 20 303 0.09.2 Harikru Store dar 75 om 1 007 pa Towers 12 Surend Citiba 2 M I Wadhwan Suren Gujarat Sur 36 camssng@c 275 32023 32023 230 w.e.f.2 5 ranaga nk Park, City dranag end 30 amsonline.c 2 1 3 999 7.09.2 r Near ar ran 35 om 007 Comme aga rce r College 12 Karim Citiba HNo.7- Mangamm Karim A.P. Kar 50 camskri@ca 878 32057 32080 225 w.e.f.0 6 nagar nk 1-257, athota nagar imn 5 msonline.co 52 04 594 3.10.2 Upstair aga 00 m 007 sSBH r 1 12 Kadap Not Door Opp. Rajiv Yerramuk Kadap Andhra Ka 51 camskdp@c 856 32246 32209 254 w.e.f.1 7 a activat No.1- Marg, kapalli a Pradesh dap 6 amsonline.c 2 9 9 122 1.10.2 ed 1625, Railway a 00 om 007 DNR Station 4 Laxmi Road Plaza 12 Sagar Not Opp. Bhagwang Sagar Madhy Sag 47 camssag@c 758 32671 32689 408 w.e.f.1 8 activat Somani anj a ar 0 amsonline.c 2 1 4 402 6.10.2 ed Automo Pradesh 00 om 007 biles 2 12 Shimla Citiba I Floor, Bus stand Shiml Himach Shi 17 camssml@c 177 32049 32049 265 w.e.f.1 9 nk Opp. a al mla 10 amsonline.c 44 45 073 8.10.2 Pancha Pradesh 01 om 7 007 yat Bhawan 87
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e Main gate 13 Kannu Not Room Casa Talap Kannu Kerala Ka 67 camsknr@c 497 324 324 w.e.f.1 0 r activat No.14/4 Marina r nnu 00 amsonline.c 9382 9147 2.11.2 ed 35 Shopping r 04 om 007 Centre 13 Mehsa Not 1st Urban Mehsa Gujarat Me 38 camsmna@c 276 32398 32311 w.e.f.1 1 na activat Floor, Bank Road na hsa 4 amsonline.c 2 5 7 2.11.2 ed Subhad na 00 om 007 ra 2 Comple x 13 Hazari Not Munici Annanda Hazari Jharkha Haz 82 camshaz@c 654 32025 32025 223 w.e.f.1 2 bag activat pal Chowk bagh nd arib 53 amsonline.c 6 1 0 959 4.11.2 ed Market agh 01 om 007 13 Ananta Citiba 15-570- Pallavi Anant A.P. An 51 camsatp@ca 855 32698 32692 227 w.e.f.1 3 pur nk 33, I Towers apur ant 5 msonline.co 4 0 1 024 9.11.2 Floor apu 00 m 007 r 1 13 Kurno Citiba H.No.4 Uppini Kurno A.P. Kur 51 camskrl@ca 851 312 312 329 w.e.f.2 4 ol nk 3/8, Arcade, N ol noo 8 msonline.co 8 978 970 504 2.11.2 Upstair R Peta l 00 m 007 s 4 13 Latur Not Kore Near Latur Mahara Lat 41 camsltr@ca 238 34192 34150 257 w.e.f.2 5 activat Comple Shegau shtra ur 3 msonline.co 2 7 7 574 3.11.2 ed x, 2nd Patsanstha 51 m 007 Cross 2 Kapad Line 13 Raichu Citiba # 12 – Besides Raich Karnata Rai 58 camsrhr@ca 853 32321 32300 250 w.e.f.2 6 r nk 10 – 51 State Bank ur ka chu 41 msonline.co 2 5 6 106 6.11.2 / 3C, of Mysore, r 01 m 007 Maram Basaveswa Comple ra Road x, 13 Hisar Citiba 12, Red Square Hisar Haryan His 12 camshsr@ca 166 32958 31554 283 w.e.f.2 88
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e 7 nk Opp. Market a ar 50 msonline.co 2 0 6 100 6.11.2 Bank of 01 m 007 Baroda 13 Srigan Not 18 L Sri Rajasth Sri 33 camssgnr@c 154 32065 32062 247 w.e.f.0 8 ganaga activat Block Ganga an Ga 50 amsonline.c 80 95 674 4.12.2 r ed nagar nga 01 om 2 007 nag ar 13 Gulbar Not Pal Opp. City Gulba Karnata Gul 58 camsglg@ca 847 31011 31052 221 w.e.f.0 9 ga activat Comple Bus rga ka bar 5 msonline.co 2 9 3 728 5.12.2 ed x, Ist Stop,Super ga 10 m 007 Floor Market 1 14 Satna Not 1st Besides SATN Madhy SA 48 camssna@c 767 32089 32075 406 w.e.f.0 0 activat Floor, Hotel A a TN 5 amsonline.c 2 6 6 996 6.12.2 ed Shri Pankaj, Pradesh A 00 om 007 Ram Birla Road 1 Market 14 Bhatin Not 2907 Near Zila BHAT Punjab BH 15 camsbti@ca 164 32045 32041 221 w.e.f.2 1 da activat GH,GT Parishad INDA AT 10 msonline.co 11 70 063 5.03.2 ed Road IN 01 m 3 008 DA 14 Shimo Citiba Nethrav Near Gutti Kuvempu Shimo Karnata Shi 57 camsshi@ca 818 322 322 271 w.e.f.0 2 ga nk athi Nursing Road ga ka mo 7 msonline.co 2 966 980 706 8.04.2 Home ga 20 m 008 1 14 Bharuc Not F-108, Station Bharu Gujarat Bha 39 camsbar@ca 98253 w.e.f. 3 h activat Rangoli Road ch ruc 20 msonline.co 04183 21.04. (parent ed Comple h 01 m 2008 : x Ankles hwar TP) 14 Sangli Citiba Diwan 313, Opp. Sangli Mahara San 41 camssgl@ca 93260 w.e.f. 4 (Parent nk Niketan Radhakrish Hotel shtra gli 64 msonline.co 16616 21.04. : na Vasahat Suruchi, 16 m 2008 Kohla Near S.T. 89
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e pur) Stand 14 Angul Citiba Similipada Angul Orissa An 75 camsang@c 676 32997 32999 w.e.f.2 5 nk gul 91 amsonline.c 4 6 0 5.04.2 22 om 008 14 Andhe Citiba 1, Near Azad Andhe Mahara An 40 camsbby@c 22 25261 w.e.f.2 6 ri nk Skylark Kamgar Road, ri shtra dhe 00 amsonline.c 431 8.04.2 (parent Ground Kalyan Andheri ( ri 69 om 008 : Floor Kendra & E) Mumb B.M.C. ai ISC) Office 14 C.R.A Citiba 33,C.R 2nd floor Kolkat West Kol 70 camscal@ca 93397 w.e.f.2 7 venue nk Avenue ,Room a Bengal kat 00 msonline.co 46915 8.04.2 (Parent No.13 a 12 m 008 : Kolkat a ISC) 14 Vizian Not F Lower Vizianaga Vizian A.P. Viz 53 camsvnm@ w.e.f.0 8 agara activat Block, Tank Bund ram agara ian 50 camsonline. 7.05.2 m(pare ed Shop Road, Near m aga 02 com 008 nt:Viz No 1 & RTC ram ag 16, PSR complex ISC) Market 14 Palakk Not 10 / Mettupalay Palakk Kerala Pal 67 camspkd@c 491 32611 32611 254 w.e.f.1 9 ad activat 688, am Street ad akk 8 amsonline.c 14 15 809 5.05.2 ed Sreedev ad 00 om 3 008 i 1 Residen cy 15 Marga Citiba Virgink Near Near Lily Marga Goa Ma 40 camsmrg@c 832 322 32246 w.e.f.2 0 o nk ar Kamath Garments o rga 3 amsonline.c 4761 58 2.05.2 Chamb Milan , Old o 60 om 008 ers I Hotel, New Station 1 Floor Market Road 15 Ratnag Not Kohino Near Natya Nachane Ratna Mahara Rat 41 camsrag@ca 235 32294 32295 222 w.e.f.2 1 iri activat or Theatre Road giri shtra nag 5 msonline.co 2 0 0 048 9.05.2 ed Comple iri 63 m 008 90
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e x 9 15 Himm Not C-7/8 New Durga Near Himm Gujarat Hi 38 camshim@c 277 32108 32109 244 w.e.f.2 2 atnaga activat Upper Bazar Railway atnaga mm 3 amsonline.c 2 0 0 332 9.05.2 r ed Level Crossing r atn 00 om 008 aga 1 r 15 Howra Citiba Gagana Shop 37,Dr. Howra West Ho 71 camscal@ca 93317 w.e.f.1 3 h nk nchal No.36 Abani h Bengal wra 11 msonline.co 37444 3.06.2 (Parent Shoppi (Basement) Dutta h 06 m 008 : ng Road, Kolkat Comple Salkia a ISC) x 15 Karur Citiba # 904, Jawahar Karur Tamil Kar 63 camskar@ca 432 31132 31006 262 w.e.f.1 4 nk 1st Bazaar Nadu ur 9 msonline.co 4 9 4 130 6.06.2 Floor 00 m 008 1 15 Bikane Citiba 6/7 Rani Bazar Bikan Rajasth Bik 33 camsbkn@c 151 32015 32016 w.e.f.1 5 r nk Yadav er an ane 40 amsonline.c 90 10 8.06.2 Comple r 01 om 008 x 15 Kakina Citiba No.33- Main Road Kakin A.P. Ka 53 camskkd@c 884 320 320 236 w.e.f.2 6 da nk 1, 44 ada kin 3 amsonline.c 7474 4595 7 3.06.2 Sri ada 00 om 891 008 Sathya 1 Comple x 15 Bagalk Not No. 6, TP No.: 52, Station Bagal Karnata Bag 58 camsbgt@ca 0 0 w.e.f.3 7 ot activat Ground Ward No. Road, kot ka alk 7 msonline.co 93791 93791 0.06.2 ed Floor, 10, Next to Near ot 10 m 85477 86040 008 Pushpa Kumatagi Basavesh 1 k Plaza Motors war Circle 15 Karnal Citiba 7, Ist Floor, Kunjapur Karnal Haryan Kar 13 camspan@c 98139 w.e.f.0 8 (Parent nk Opp Bata a Road a nal 20 amsonline.c 99809 7.07.2 :Panip Showroom 01 om 008 at TP) 91
  • Sr Locati Collec Address Address Address Addre State Cit Pin E-mail ID ST Ph.1 Ph.2 Ph. Ph Fax . on tion (continued) (continue ss y co D 3 .4 . N Bank d) (conti de cod No o. nued) e 15 Malda Not Daxhin Opp Lane SM Pally Malda West Mal 73 camsmld@c 351 32995 32995 268 w.e.f.2 9 activat apan of Hotel Bengal da 2 amsonline.c 2 1 2 915 4.07.2 ed Abasan Kalinga 10 om 008 1 16 Bilasp Citiba Beside Link Road Bilasp Chattis Bil 49 camsbil@ca 775 32788 32788 w.e.f.3 0 ur nk HDFC ur garh asp 5 msonline.co 2 6 7 0.07.2 Bank ur 00 m 008 1 16 Mapus Citiba Office Above Angod Mapus Goa Ma 40 camsgoa@c 93261 w.e.f.0 1 a nk no.CF- Bicholim a pus 3 amsonline.c 26122 4.08.2 (Parent 8, 1st Urban Co- a 50 om 008 ISC : Floor, op Bank 7 Goa) Busines s Point 16 Nadiad Not 8, Ravi Ground Nadia Gujarat Na 38 camsana@c w.e.f.1 2 (Parent activat Kiran Floor d dia 70 amsonline.c 8.08.2 TP: ed Comple Nanakumb d 01 om 008 Anand x hnath Road TP) 16 Vapi Citiba 215- Near Vapi Gujarat Va 39 camsvap@c 026 32012 32012 3 nk 216, G.I.D.C. pi 61 amsonline.c 0 49 68 Heena Char 95 om Arcade, Rasata, Opp. Tirupati Tower, (B) List of ISC of Registrar during the Ongoing Offer Period. Sr. Loca Collec Address Address Address Address State City Pin E-mail ST P Ph. P Ph.4 Fax. No tion tion (continued) (continue (continu cod ID D h. 2 h. No . Bank d) ed) e cod 1 3 e 1 Ahm SCB 402-406, Off C G Behind Ellis Gujarat Ahmeda 380 camsah 079 3 300 3 3008 edab 4th Floor - Road Lal Bridge bad 006 m@cams 0 8 0 2473 ad Devpath Bungalow online.co 0 246 0 Building m 8 9 8 92
  • Sr. Loca Collec Address Address Address Address State City Pin E-mail ST P Ph. P Ph.4 Fax. No tion tion (continued) (continue (continu cod ID D h. 2 h. No . Bank d) ed) e cod 1 3 e 2 2 4 4 6 7 8 0 2 Bang SCB Trade 45, ( Next to Karnata Bangalo 560 camsbgl 080 3 305 3 3057 2532 alore Centre, 1st Dikensen Manipal ka re 042 @camso 0 7 0 8006 6162 Floor Road Centre ) nline.co 5 471 5 m 7 0 7 4 8 7 0 0 0 9 4 3 Bhu SCB 101/ 7, Orissa Bhuban 751 camsbhr 067 3 325 253 bane Janpath, eswar 001 @camso 4 2 330 4909 shwa Unit – III nline.co 5 8 r m 3 3 0 7 4 Chan SCB SCO 80- Sector 17 C Punjab Chandig 160 camscha 017 3 304 3 3048 271 digar 81, IIIrd F arh 017 @camso 2 0 872 0 723 1325 h nline.co 4 1 4 m 8 8 7 7 2 2 0 2 5 Chen SCB Ground Opp. Hotel Nungamb Tamil Chennai 600 camslb1 044 3 391 3 3911 2828 nai Floor Palmgrove akkam Nadu 034 @camso 9 15 9 5 3 No.178/10 nline.co 1 562 1 565 613 , m 1 1 Kodamba 5 5 kkam 5 5 High Road 6 6 1 3 6 Coch SCB 40 / 9633 Near Kerala Cochin 682 camscoc 048 3 323 2383 in D, Internation 035 @camso 4 2 466 830 93
  • Sr. Loca Collec Address Address Address Address State City Pin E-mail ST P Ph. P Ph.4 Fax. No tion tion (continued) (continue (continu cod ID D h. 2 h. No . Bank d) ed) e cod 1 3 e Veekshan al hotel nline.co 3 2 am Road m 4 6 5 8 7 Coi SCB Old # 66 Ground R.S.Pura Tamil Coimbat 641 camscbe 042 3 301 301 mbat New # 86, Floor m Nadu ore 002 @camso 2 0 800 8003 ore Lokamany nline.co 1 1 a Street m 8 (West) 0 0 0 8 Durg Citiba 4/2, Ground West Durgapu 713 camsdur 034 3 329 6 2548 apur nk Bengal Floor, City Bengal r 216 @camso 3 2 889 4 190 Ambuja Centre nline.co 9 1 5 Housing m 8 1 Developm 8 4 ent Ltd, 9 1 0 9 9 Goa Citiba No.108, Above MG Goa Panaji 403 camsgoa 083 3 325 242 nk 1st Floor, Weekender Road (Goa) 001 @camso 2 2 164 4527 Gurudutta nline.co 5 0 Bldg m 1 7 5 5 10 Hyd SCB 208, II Jade Paradise Andhra Secunde 500 camshyd 040 3 391 3 3918 3918 erab Floor Arcade Circle Pradesh rabad 003 @camso 9 8 9 2469 2472 ad nline.co 1 247 1 m 8 3 8 2 2 4 4 7 6 1 8 11 Indo SCB 101, 8-B, South Madhya Indore 452 camsind 073 3 325 2528 re Shalimar tukogunj, Pradesh 001 @camso 1 2 364 609 94
  • Sr. Loca Collec Address Address Address Address State City Pin E-mail ST P Ph. P Ph.4 Fax. No tion tion (continued) (continue (continu cod ID D h. 2 h. No . Bank d) ed) e cod 1 3 e Corporate Opp.Green nline.co 5 6 Centre park m 3 6 9 2 12 Jaipu SCB R-7, Behind Rajastha Jaipur 302 camsjai 014 3 326 5 5104 5114 r Yudhisthir Ashok n 001 @camso 1 2 912 1 372 500 Marg ,C- Nagar nline.co 6 8 0 Scheme Police m 9 4 Station 1 3 2 7 6 3 13 Kan SCB I Floor CITY 63/ 2, Uttarpra Kanpur 208 camskpr 051 3 391 3 3918 3918 pur 106 to 108 CENTRE THE desh 001 @camso 2 9 800 9 002 002 Phase II MALL nline.co 1 0 1 m 8 8 0 0 0 0 3 1 14 Kolk SCB "LORDS 7/1,Lord Ground West Kolkata 700 camscal 033 3 305 3 3058 3058 ata Building" Sinha Road Floor Bengal 071 @camso 2 8 0 2281 2288 nline.co 5 228 5 m 5 5 8 0 2 7 3 6 0 0 3 15 Luck SCB Off # 4,1st 3/c, 5 - Uttarpra Luckno 226 camsluc 052 3 391 3 3918 2237 now Floor,Cent Park Road, desh w 001 @camso 2 9 800 9 003 309 re Court Hazratganj nline.co 1 1 1 Building, m 8 8 0 0 0 0 0 2 16 Ludh SCB U/ GF, Near Traffi Pakhowal Punjab Ludhian 141 camsldh 016 3 301 501 iana Prince c Lights, Road, a 002 @camso 1 0 800 6811 95
  • Sr. Loca Collec Address Address Address Address State City Pin E-mail ST P Ph. P Ph.4 Fax. No tion tion (continued) (continue (continu cod ID D h. 2 h. No . Bank d) ed) e cod 1 3 e Market, Sarabha nline.co 1 1 Green Nagar Pulli m 8 Field 0 0 0 17 Mad Citiba 86/71A, Tamil Madurai 625 camsmd 045 3 325 4381 urai nk Tamilsang Nadu 001 u@cams 2 2 246 682 am Road online.co 5 8 m 1 3 5 7 18 Man Citiba No. G 4 & Opp. Kadri Karnata Mangal 575 camsma 082 3 325 425 galor nk G 5, Karnataka Main ka ore 003 n@cams 4 2 246 2525 e Inland Bank Road, online.co 5 8 Monarch Kadri m 1 3 5 7 19 Mu SCB Rajabahdu Opp 30, Maharas Mumbai 400 camsbby 022 3 302 3 6525 3028 mbai r Allahabad Mumbai htra 023 @camso 0 824 0 7932 2482 Compoun Bank, Samachar nline.co 2 69 2 d, Ground Behind Marg, m 8 8 Floor ICICI Bank Fort 2 2 4 4 6 7 8 1 20 Nag SCB 145 New Maharas Nagpur 440 camsnpr 071 3 325 2432 2432 9371 pur Lendra Ramdaspet htra 010 @camso 2 2 827 447 447 4324 Park, h nline.co 5 2 47 Behind m 8 Indus Ind 2 Bank 7 5 21 New SCB 304-305 Kanchenju 18, Cannau New New 110 camsdel 011 3 304 3 3048 2335 Delh III Floor nga Barakham gt Place Delhi Delhi 001 @camso 0 8 0 2468 3834 96
  • Sr. Loca Collec Address Address Address Address State City Pin E-mail ST P Ph. P Ph.4 Fax. No tion tion (continued) (continue (continu cod ID D h. 2 h. No . Bank d) ed) e cod 1 3 e i Building ba Road nline.co 4 120 4 m 8 3 8 2 1 4 2 7 0 1 5 22 Patn SCB Kamlalaye Near Exhibitio Bihar Patna 800 camspat 061 3 325 3 2322 a Shobha Ashiana n Road 001 @camso 2 2 528 2 207 Plaza, Tower nline.co 5 5 5 Ground m 5 5 Floor 2 2 8 8 4 6 23 Pune SCB Nirmiti Opp Erandawa Maharas Pune 411 camspun 020 3 302 3 3028 Eminence, Abhishek ne htra 004 @camso 0 8 0 3001 Off No. 6, Hotel nline.co 2 300 2 I Floor Mehandale m 8 3 8 Garage 3 3 Road 0 0 0 0 5 0 24 Surat SCB Office No First Floor, Timalyaw Gujarat Surat 395 camssur 026 3 326 3 NA 2 Ahura - Sadak ad, 001 @camso 1 2 246 2 Mazda Street Nanpura nline.co 6 8 6 Complex m 2 0 2 3 6 5 7 2 25 Vad SCB 103 Aries BPC Road, Alkapuri Gujarat Vadodar 390 camsvad 026 3 301 3018 odar Complex Off R.C. a 007 @camso 5 0 803 030 a Dutt Road nline.co 1 1 m 8 0 3 2 26 Vija Citiba 40-1-68, Near M.G Andhra Vijayaw 520 camsvij 086 3 329 6695 97
  • Sr. Loca Collec Address Address Address Address State City Pin E-mail ST P Ph. P Ph.4 Fax. No tion tion (continued) (continue (continu cod ID D h. 2 h. No . Bank d) ed) e cod 1 3 e yawa nk Rao & Chennupati Road, Pradesh ada 010 @camso 6 2 520 657 da Ratnam Petrol Labbipet nline.co 9 2 Complex Pump m 9 1 8 1 27 Visa Citiba 47/ 9 / 17, 3rd Lane , Andhra Visakha 530 camsviz 089 3 329 2 2540 khap nk 1st Floor Dwaraka Pradesh patnam 016 @camso 1 2 837 5 175 atna Nagar nline.co 9 4 5 m m 8 4 3 8 9 9 7 3 All changes to the above ‘official points’ shall be communicated by the Fund from time to time. Please contact the nearest Investor Service Centre for an updated list of Official Points of Acceptance. 98