Press Release February 19, 2026 EDELWEISS FINANCIAL SERVICES LIMITED Rating Reaffirmed and Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Non Convertible Debentures (NCD)	1971.91	ACUITE A+ | Stable | Reaffirmed	-
Non Convertible Debentures (NCD)	1879.71	Not Applicable | Withdrawn	-
Commercial Paper (CP)	500.00	-	ACUITE A1+ | Reaffirmed
Total Outstanding	2471.91	-	-
Total Withdrawn	1879.71	-	-

Rating Rationale

­Acuité has reaffirmed its long-term rating of ‘ACUITE A+' (read as ACUITE A Plus) on the Rs. 1971.91 Cr. Non convertible debentures of EDELWEISS FINANCIAL SERVICES LIMITED. The outlook is 'Stable'. Acuité has withdrawn the long-term rating on the Rs. 294.71 Cr. Non-Convertible Debentures facilities without assigning rating as the instrument is fully repaid of EDELWEISS FINANCIAL SERVICES LIMITED. The rating is being withdrawn on account of payment confirmation received from the trustee and the redemption certificate issued by the company, as per Acuité’s policy on withdrawal of ratings as applicable to the respective facility/instrument.­ Acuité has withdrawn the long-term rating on the Rs. 1585.00 Cr. proposed Non-Convertible Debentures facilities without assigning rating of EDELWEISS FINANCIAL SERVICES LIMITED. The rating is being withdrawn on account of the request received from the company and is as per Acuité’s policy on withdrawal of ratings as applicable to the respective facility/instrument.­ ­Acuité has reaffirmed its short-term rating of ‘ACUITE A1+' (read as ACUITE A one Plus) on the Rs.500.00 Cr. commercial paper of EDELWEISS FINANCIAL SERVICES LIMITED.  Rationale for the rating: The rating factors in Edelweiss Group’s established track record in financial services, adequate capitalisation, and comfortable liquidity profile. The rating considers the Group’s strategic intent to build the fee-based-income franchise, and on the lending side, to focus on re-building the retail loan franchise with emphasis on the co-origination model, which will likely keep it asset-light and provide additional granularity to the loan portfolio. The rating also factors in the growth in the Group’s Mutual Fund business, alternative assets AUM, and the growth in number of policies issued by the insurance business. Acuité also notes that the insurance business is expected to take around two more years before turning profitable. The rating also takes into consideration the group’s reducing debt and demonstrated resource-raising ability. Acuité believes demonstrating sustainable improvement in profitability from the regular course of business operations and revenue streams in the evolving operating environment, coupled with sustained improvement in asset quality, would remain key rating monitorables. Acuité notes the significant improvement in the Group’s PBT for FY25 at Rs 802 Cr. against Rs 437 Cr. for FY24. That said, the Group’s earning profile is also supported by fair value gains from asset revaluation and sale of businesses. Further, the ARC business continues to contribute a high share of the overall Group PBT, at around 66% for FY25.   Overall asset quality indicators remained elevated at FY25, albeit improved from FY24. The Group’s Gross stage 3 assets were reported at 7.93% on March 31, 2025, compared with 13.00% on March 31, 2024. The Net Stage 3 assets stood at 2.67% at FY25, compared with 2.25% at FY24. The management continues to focus primarily on fee-based businesses, therefore, there has been a consistent decline in the Group’s overall loan book, particularly its wholesale book which is concentrated towards real estate assets.   Based on Income Recognition and Asset Classification (IRAC) loan norms and reassessed expected credit loss (ECL), EFSL had re-valued security receipts (SRs), resulting in a provision incurred through other comprehensive income in the financial statement. Accordingly, ECL Finance had a markdown in the value of SRs on its balance sheet to the extent of ~Rs 1,100 cr as on March 31, 2025. The resultant impact on ECLFL’s networth was ~Rs 1,000 cr, resulting in a provision incurred through other comprehensive income in the financial statement. However, with the conversion of CCDs of ~Rs. 1,040 cr during FY25, the overall net worth of Edel Group stood at Rs. 5,918.17 Cr. (Rs. 6,049.29 Cr. as on March 31st, 2024). Acuité takes note of the disinvestment of their stake in Nido Home Finance Limited. As part of the transaction, investment funds affiliated with Carlyle Asia Partners (CAP) will invest INR 2,100 Cr. (approximately USD 230M), which includes acquiring a 45% stake in Nido Home Finance Limited from EFSL through a secondary purchase and a primary equity capital infusion of INR 1,500 Cr (approximately USD 165M) in Nido Home Finance Limited.

About the Company

­Mumbai based, EFSL was incorporated in 1995 as Edelweiss Capital Ltd. The company, on standalone basis, is primarily engaged in investment banking services and provides development, managerial and financial support to group entities.

About the Group

­Incorporated in 1995, Edelweiss is a SEBI-registered merchant banker with a presence across multiple businesses in the financial services space through its subsidiaries. Currently, the Group is engaged in retail lending, alternatives, asset management, life & general insurance, and asset reconstruction. The group has restructured the businesses into four verticals namely credit, insurance, asset management and asset reconstruction. The group is present across various financial services businesses, including loans to individuals, mortgage finance - loans against property and small-ticket housing loans, MSME finance, alternative and domestic asset management, and life and general insurance.

Unsupported Rating

­Not applicable

Analytical Approach

Extent of Consolidation

•Full Consolidation

Rationale for Consolidation or Parent / Group / Govt. Support

­Acuite has adopted a consolidated approach on Edelweiss Financial Services Limited (EFSL) along with its subsidiaries and associates collectively referred to as ‘Edelweiss group’ (refer Annexure 2 for list of entities). The approach is driven by common promoters, shared brand name, and significant operational & financial synergies between the companies. Acuite has rated secured NCDs as well as perpetual NCDs issued by Edelweiss group companies. It is pertinent to note that, Unsecured Subordinated Non-Convertible Debentures (i.e. Perpetual NCDs) are rated at a lower level vis-à-vis the regular secured debt instruments. This is in view of the significant loss absorption characteristics associated with these perpetual instruments. The issuer may be required to skip/defer the coupon/interest payment in case of certain events such as decline in CAR below regulatory thresholds.

Key Rating Drivers

Strength

­Strong parentage Edelweiss Group is promoted by Mr. Rashesh Shah and Mr. Venkat Ramaswamy, who are seasoned professionals in the financial services industry with over three decades of experience. The promoters are supported by experienced professionals who are into financing, wealth, and asset management businesses. The group has a diverse business profile in financial services with presence in segments such as retail credit, wholesale lending, asset reconstruction, asset management and insurance business. The various verticals of the group as mentioned above are now under the following broad categories i.e. Credit (retail and corporate), Asset Management, Asset Reconstruction and Insurance (life and general). Diversified funding (debt & equity) profile with reducing debt The group’s financial flexibility is supported by its demonstrated ability to mobilise resources from a diversified set of lenders & investors comprising domestic banks, institutional investors and lenders, foreign investors, and domestic retail investors, amongst others. The Group has attracted investments from reputed international investors such as CDPQ (Caisse de Dépôt et Placement du Québec), and PAG Asia. In the past, the Group also raised capital from KORA Management and Sanaka Capital. As on March 31, 2025, borrowings stood at Rs. 18,004.34 Cr vs Rs. 20,358.30 cr for March 31, 2024. The Group had consolidated loan book of Rs. 12,221.30 Cr. as on March 31, 2025 as against Rs. 14,804.03 Cr. as on March 31, 2024. Acuité expects the Group to continue to benefit from diversified funding mix across domestic banks, Institutional investors and lenders, foreign investors and domestic retail investors amongst others. Adequate liquidity buffer and reduced gearing levels As on March 31, 2025 the Group's net worth stood at Rs. 5,918.17 Cr. (Rs. 6,049.29 Cr. as on March 31st, 2024). Concurrently, capital adequacy of the NBFC business (ECL Finance Ltd) stood at 32.9 percent and HFC stood at 33.6 percent as on March 31, 2025. The Group had total liquidity of Rs 4,255 Cr. (including overnight liquidable assets of Rs 3,424 Cr.) as on March 31, 2025. Overall gearing (Debt/Equity) for the Group was at 3.04x as on March 31, 2025, a reduction from 3.36x at March 31, 2024. Edelweiss Group’s strategic intent on re-building its retail loan franchise with focus on the co-origination model, should keep it asset-light and provide granularity to the loan portfolio The Group has been attempting to gradually increase its exposure to the retail segment and has entered into deals with multiple banks for lending under the co-origination model. It has taken several steps to reduce its exposure to the wholesale segment and reorient the portfolio toward small and mid-corporate lending segments. Besides the fund-based activities, Edelweiss Group also has an established franchise in asset management. Acuité believes Edelweiss group’s established position in financial services and diversified range of fee and fund-based product offerings will continue to support its business risk profile. Growth in the Group’s Mutual Fund business, Alternative assets AUM, and growth in number of policies issued by the insurance business As on March 31, 2025, the Edelweiss Group had mutual fund assets under management of about Rs. 1,41,800 Cr. (up ~11.6% from ~Rs. 1,27,000 Cr. on March 31, 2024). The Group’s Alternative Assets business, EAAA India Alternatives Ltd (EAAA) also registered a PAT of Rs. 230 Cr on March 31, 2025 (Rs. 175 Cr on March 31, 2024) and total AUM of Rs. 59,640 Cr. (up ~9% from Rs. 54,680 Cr at March 31, 2024). The Group’s General Insurance business (Zuno General Insurance) issued 6 lakh policies in the year, up 38% YoY. The Group’s Life Insurance business reported a Gross premium of Rs. 2,086 Cr in FY25, up ~8% YoY. While both the insurance businesses reported net losses during FY25, the Edelweiss Group management expects them to breakeven over the next two fiscals.

Weakness

­Continued pressure on asset quality, though FY25 delinquency ratios improved y-o-y   The decline in the Group’s overall loan book continued; overall loans were down ~17.4% during FY25 (driven by the reduction in wholesale loans in the ECL Finance NBFC). Overall asset quality indicators remained elevated at FY25, albeit improved from FY24. The Group’s Gross stage 3 assets were reported at 7.93% on March 31, 2025, compared with Gross stage 3 assets 13.00% on March 31, 2024. The Net Stage 3 assets stood at 2.67% at FY25, compared with 2.25% at FY24. The group’s wholesale segment mostly comprises exposures to real estate developers for their projects. The cash flows of these realtors and the quality of these exposures is linked to the revival in the real estate cycle. The Group has already initiated steps to prune its exposure to the wholesale segment through various initiatives such as slowing down fresh sanctions and sell down of existing assets to dedicated funds and ARCs. Acuité believes that the Group’s ability to significantly improve - and sustain the improvement in - overall asset quality over the near-to-medium term will remain a key rating sensitivity. Moderate overall earnings profile The Group reported a consolidated profit after tax of Rs. 535.82 Cr. in FY2025 as against Rs. 528.05 Cr. in FY2024, which had improved against Rs. 405.56 Cr. in FY2023. The earnings profile continued some dependency on fair value gains from asset revaluation and sale of businesses. That said, the Group’s overall ROAA upticked to 1.32% in FY25, as against 1.25% in FY24. The RoAA had continuously been lower than 1.00% for the three fiscals prior to FY2024. Acuité also takes note of measures taken by the Group to rationalize cost and improve profitability including co-lending model for building the retail portfolio and focus on non-fund business streams. Acuité believes that the Group’s ability to sustain improvement in earnings profile from the regular course of business in the current operating environment (coupled with the intense competition in the retail segment), will be a key rating monitorable.

ESG Factors Relevant for Rating

­Edelweiss Group offers a bouquet of financial services to a diversified client base across domestic and global geographies. The Group has presence in segments such as retail credit, asset reconstruction, asset management and insurance business. Adoption and upkeep of strong business ethics is a sensitive material issue for the financial services business linked to capital markets to avoid fraud, insider trading and other anti-competitive behaviour. Other important governance issues relevant for the industry include management and board compensation, board independence as well as diversity, shareholder rights and role of audit committee. As regards the social factors, product or service quality has high materiality so as to minimise misinformation about the products to the customers and reduce reputational risks. For the industry, retention, and development of skilled manpower along with equal opportunity for employees is crucial. While data security is highly relevant due to company’s access to confidential client information, social initiatives such as enhancing financial literacy and improving financial inclusion are fairly important for the financial services sector. The material of environmental factors is low for this industry. Edelweiss Group’s board comprises of seven directors with two women directors. Of the total seven directors, four are independent directors. The Group maintains adequate disclosures for business ethics which can be inferred from its policies relating to code of conduct, whistle blower protection and related party transactions. The Group has formed a Risk Committee with four out of five members being independent directors for, among other things, identifying and evaluating risks and development, implementing and tracking risk management efforts. All the members of Audit Committee are independent directors. For redressal of grievances of the security holders, it has constituted a Stakeholders’ Relationship Committee. The Group also has a committee for appointment, remuneration and performance evaluation of the Board. On the social aspect, the Group has taken development and training initiatives towards career development of its employees. The Group has put in place data privacy policy to ensure adequate safeguards for collection, storage and processing of personal and sensitive information and data of customers and third parties. Further, the Group has set up EdelGive foundation, a grant-making foundation which is funding and supporting the growth of small to mid-sized grassroots NGOs committed to empowering vulnerable children, women, and communities. Over the last 13 years, EdelGive has supported over 150 organizations across 111 districts in 14 states of India.

Rating Sensitivity

­ Movement in earning profile indicated through RoAA Movement in the asset quality and collection efficiency Movement in cost of borrowings and liquidity buffers Changes in the regulatory environment

Liquidity Position

Adequate

­EFSL’s liquidity profile is supported by the Group’s adequate liquidity position. As on March 31, 2025, the Group had total liquidity of Rs 4,255 Cr. (including overnight liquidable assets of Rs 3,424 Cr). The Group’s liquidity profile is supported by funding from a diversified base i.e. banks and financial institutions, along with capital market instruments such as Commercial Paper and NCDs.

Outlook: Stable

­

Other Factors affecting Rating

­None

Key Financials - Standalone / Originator

Particulars Unit FY 25 (Actual) FY 24 (Actual) Total Assets Rs. Cr. 8357.19 8498.59 Total Income* Rs. Cr. 39.28 700.79 PAT Rs. Cr. (51.91) 695.21 Net Worth Rs. Cr. 5517.09 5462.84 Return on Average Assets (RoAA) (%) (0.62) 7.31 Return on Average Net Worth (RoNW) (%) (0.95) 10.93 Debt/Equity Times 0.56 0.54 Gross NPA (%) - - Net NPA (%) - - *Total income equals to Net Interest Income plus other income Ratios as per Acuité calculations

Key Financials (Consolidated)

­ Particulars Unit FY 25 (Actual) FY 24 (Actual) Total Assets Rs. Cr. 39842.96 41373.09 Total Income* Rs. Cr. 6981.67 6814.63 PAT Rs. Cr. 535.82 528.05 Net Worth Rs. Cr. 5918.17 6049.29 Return on Average Assets (RoAA) (%) 1.32 1.25 Return on Average Net Worth (RoNW) (%) 8.96 7.61 Debt/Equity Times 3.04 3.36 Gross NPA (%) - - Net NPA (%) - - *Total income equals to Net Interest Income plus other income

Status of non-cooperation with previous CRA (if applicable)

­Not applicable

Any Other Information

­None

Applicable Criteria

• Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.htm • Banks And Financial Institutions: https://www.acuite.in/view-rating-criteria-45.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Consolidation Of Companies: https://www.acuite.in/view-rating-criteria-60.htm • Commercial Paper: https://www.acuite.in/view-rating-criteria-54.htm

Note on complexity levels of the rated instrument

­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 07 Jul 2025 Secured Retail Non-Convertible Debentures Long Term 9.30 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 49.76 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 20.16 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 119.82 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.73 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.51 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 47.20 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 23.85 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 38.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.67 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 68.66 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.84 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.92 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.56 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.23 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 1500.00 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 91.48 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 0.42 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 2.70 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.02 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 5.71 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.71 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.61 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.15 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 78.51 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 8.63 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.43 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.13 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.72 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.22 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 31.10 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.17 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 75.80 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 77.76 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 489.78 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 82.35 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 44.52 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.76 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.40 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 11.17 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.12 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 81.92 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 30.11 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 21.50 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.73 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 57.71 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 42.10 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 22.53 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 122.00 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 32.36 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.30 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 25.67 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.44 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 54.49 ACUITE A+ | Stable (Reaffirmed) Proposed Commercial Paper Program Short Term 500.00 ACUITE A1+ (Assigned) Secured Retail Non-Convertible Debentures Long Term 50.02 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 12.50 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 78.06 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 16.61 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 60.56 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 83.39 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 11.94 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 73.70 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 29.70 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 80.90 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 19.98 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 9.90 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 13.31 ACUITE Not Applicable (Withdrawn) Secured Retail Non-Convertible Debentures Long Term 7.81 ACUITE Not Applicable (Withdrawn) 26 Dec 2024 Proposed Secured Retail Non-Convertible Debentures Long Term 0.42 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 2.70 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.02 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 5.71 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.71 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.61 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.15 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 78.51 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 8.63 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.43 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 11.17 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 50.02 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.50 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 81.92 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 30.11 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.30 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.13 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.72 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 78.06 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.22 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 31.10 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.17 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 75.80 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 77.76 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 16.61 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 60.56 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 83.39 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 11.94 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 73.70 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 489.78 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.70 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 80.90 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 82.35 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 44.52 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.76 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.40 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.12 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 21.50 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.73 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 57.71 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 42.10 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 22.53 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 122.00 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 32.36 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.30 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 25.67 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.44 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.98 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.90 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 54.49 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 49.76 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 20.16 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 119.82 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.73 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.51 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 47.20 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 23.85 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.31 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 7.81 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 38.06 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.67 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 68.66 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.84 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.92 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.56 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.23 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 1500.00 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 91.48 ACUITE A+ (Reaffirmed) 07 Jun 2024 Secured Retail Non-Convertible Debentures Long Term 29.84 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.92 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.56 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.23 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 1500.00 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 91.48 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 0.42 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 2.70 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.02 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 5.71 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.71 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.61 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.15 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 78.51 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 8.63 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.43 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 11.17 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 50.02 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.50 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 81.92 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 30.11 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.30 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.13 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.72 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 78.06 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.22 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 31.10 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.17 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 75.80 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 77.76 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 16.61 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 60.56 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 83.39 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 11.94 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 73.70 ACUITE A+ (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 489.78 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.70 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 80.90 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 82.35 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 44.52 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.76 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.40 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.12 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 21.50 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.73 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 57.71 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 42.10 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 22.53 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 122.00 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 32.36 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.30 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 25.67 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.44 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.98 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.90 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 54.49 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 49.76 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 20.16 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 119.82 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.73 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.51 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 47.20 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 23.85 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.31 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 7.81 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 38.06 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.67 ACUITE A+ (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 68.66 ACUITE A+ (Reaffirmed) 18 Dec 2023 Secured Retail Non-Convertible Debentures Long Term 81.92 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 30.11 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.30 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.13 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.72 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 78.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.22 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 31.10 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.17 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 75.80 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 77.76 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 16.61 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 60.56 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 83.39 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 11.94 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 73.70 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 489.78 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.70 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 80.90 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 82.35 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 44.52 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.76 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.40 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.12 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 21.50 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.73 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 57.71 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 42.10 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.67 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 68.66 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.84 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.92 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.56 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.23 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 1500.00 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 91.48 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 0.42 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 2.70 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.02 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 22.53 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 122.00 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 32.36 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.30 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 5.71 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.71 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.61 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.15 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 78.51 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 8.63 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.43 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 11.17 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 50.02 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.50 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 25.67 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.44 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.98 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.90 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 54.49 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 49.76 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 20.16 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 119.82 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.73 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.51 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 47.20 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 23.85 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.31 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 7.81 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 38.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ | Stable (Reaffirmed) 20 Jul 2023 Secured Retail Non-Convertible Debentures Long Term 50.02 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.50 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 81.92 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 30.11 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.30 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.13 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.72 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 78.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.22 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 31.10 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.17 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 75.80 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 77.76 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 16.61 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 60.56 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 83.39 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 11.94 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 73.70 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 489.78 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.70 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 80.90 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 82.35 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 44.52 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.76 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.40 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.12 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 21.50 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.73 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 57.71 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 42.10 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 22.53 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 122.00 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 32.36 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.30 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 25.67 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.44 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 19.98 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.90 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 54.49 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 49.76 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 20.16 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 119.82 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 36.73 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 15.51 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 47.20 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 23.85 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 13.31 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 7.81 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 38.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 10.67 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 68.66 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 29.84 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 9.92 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 34.56 ACUITE A+ | Stable (Reaffirmed) Secured Retail Non-Convertible Debentures Long Term 12.23 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 1500.00 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 349.48 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 0.42 ACUITE A+ | Stable (Reaffirmed) Proposed Secured Retail Non-Convertible Debentures Long Term 2.70 ACUITE A+ | Stable (Reaffirmed) 03 Jul 2023 Secured Retail Non-Convertible Debentures Long Term 50.02 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 12.50 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 81.92 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 30.11 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 9.30 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 19.13 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 15.72 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 78.06 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 13.22 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 31.10 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 12.17 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 75.80 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 77.76 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 16.61 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 60.56 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 83.39 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 11.94 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 73.70 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Proposed Secured Retail Non-Convertible Debentures Long Term 489.78 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 29.70 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 80.90 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 82.35 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 44.52 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 13.76 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 28.40 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 10.12 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 21.50 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 10.73 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 57.71 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 42.10 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 22.53 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 122.00 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 32.36 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 10.30 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 25.67 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 19.44 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 19.98 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 9.90 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 54.49 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 49.76 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 20.16 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 119.82 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 36.73 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 15.51 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 47.20 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 23.85 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 13.31 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 7.81 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 38.06 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 28.06 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 10.67 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 68.66 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 29.84 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 9.92 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 34.56 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Secured Retail Non-Convertible Debentures Long Term 12.23 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Proposed Secured Retail Non-Convertible Debentures Long Term 1500.00 ACUITE A+ | Stable (Assigned) Proposed Secured Retail Non-Convertible Debentures Long Term 349.48 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Proposed Secured Retail Non-Convertible Debentures Long Term 0.42 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative) Proposed Secured Retail Non-Convertible Debentures Long Term 2.70 ACUITE A+ | Stable (Downgraded from ACUITE AA- | Negative)

­

Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Not Applicable Not avl. / Not appl. Proposed Commercial Paper Program Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 500.00 Simple ACUITE A1+ | Reaffirmed Not Applicable Not avl. / Not appl. Proposed Secured Retail Non-Convertible Debentures Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 6.48 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable Not avl. / Not appl. Proposed Secured Retail Non-Convertible Debentures Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 0.42 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable Not avl. / Not appl. Proposed Secured Retail Non-Convertible Debentures Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.70 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable Not avl. / Not appl. Proposed Secured Retail Non-Convertible Debentures Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 489.78 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable Not avl. / Not appl. Proposed Secured Retail Non-Convertible Debentures Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 1500.00 Simple ACUITE Not Applicable | Withdrawn Not Applicable Not avl. / Not appl. Proposed Secured Retail Non-Convertible Debentures Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 85.00 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07ED6 Secured Retail Non-Convertible Debentures 21 Jul 2023 9.6 21 Jul 2026 29.71 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07EC8 Secured Retail Non-Convertible Debentures 21 Jul 2023 9.2 21 Jul 2026 36.61 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07EE4 Secured Retail Non-Convertible Debentures 21 Jul 2023 Not avl. / Not appl. 21 Jul 2026 15.15 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07EG9 Secured Retail Non-Convertible Debentures 21 Jul 2023 9.67 21 Jul 2028 78.51 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07EH7 Secured Retail Non-Convertible Debentures 21 Jul 2023 10.1 21 Jul 2028 28.06 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07EF1 Secured Retail Non-Convertible Debentures 21 Jul 2023 Not avl. / Not appl. 21 Jul 2028 8.63 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07EI5 Secured Retail Non-Convertible Debentures 21 Jul 2023 10 21 Jul 2033 34.43 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DZ1 Secured Retail Non-Convertible Debentures 21 Jul 2023 10.45 21 Jul 2033 11.17 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CF5 Secured Retail Non-Convertible Debentures 10 Sep 2021 9.15 10 Sep 2026 82.35 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CG3 Secured Retail Non-Convertible Debentures 10 Sep 2021 9.55 10 Sep 2026 44.52 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CH1 Secured Retail Non-Convertible Debentures 10 Sep 2021 Not avl. / Not appl. 10 Sep 2026 13.76 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CI9 Secured Retail Non-Convertible Debentures 10 Sep 2021 9.30 10 Sep 2031 28.40 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CJ7 Secured Retail Non-Convertible Debentures 10 Sep 2021 9.70 10 Sep 2031 10.12 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07BX0 Secured Retail Non-Convertible Debentures 29 Apr 2021 9.16 29 Apr 2026 81.92 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07BY8 Secured Retail Non-Convertible Debentures 29 Apr 2021 9.55 29 Apr 2026 30.11 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07BZ5 Secured Retail Non-Convertible Debentures 29 Apr 2021 Not avl. / Not appl. 29 Apr 2026 9.30 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CA6 Secured Retail Non-Convertible Debentures 29 Apr 2021 9.30 29 Apr 2031 19.13 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CB4 Secured Retail Non-Convertible Debentures 29 Apr 2021 9.70 29 Apr 2031 15.72 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CU4 Secured Retail Non-Convertible Debentures 28 Dec 2021 9.70 28 Dec 2031 13.22 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CT6 Secured Retail Non-Convertible Debentures 28 Dec 2021 9.30 28 Dec 2031 31.10 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CS8 Secured Retail Non-Convertible Debentures 28 Dec 2021 Not avl. / Not appl. 28 Dec 2026 12.17 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CR0 Secured Retail Non-Convertible Debentures 28 Dec 2021 9.55 28 Dec 2026 75.80 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07CQ2 Secured Retail Non-Convertible Debentures 28 Dec 2021 9.15 28 Dec 2026 77.76 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DB2 Secured Retail Non-Convertible Debentures 20 Oct 2022 9.35 20 Oct 2027 122.00 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DC0 Secured Retail Non-Convertible Debentures 20 Oct 2022 9.75 20 Oct 2027 32.36 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DA4 Secured Retail Non-Convertible Debentures 20 Oct 2022 Not avl. / Not appl. 20 Oct 2027 10.30 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DD8 Secured Retail Non-Convertible Debentures 20 Oct 2022 9.65 20 Oct 2032 25.67 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DE6 Secured Retail Non-Convertible Debentures 20 Oct 2022 10.1 20 Oct 2032 19.44 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DK3 Secured Retail Non-Convertible Debentures 20 Jan 2023 9.670 20 Jan 2028 119.82 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DJ5 Secured Retail Non-Convertible Debentures 20 Jan 2023 10.100 20 Jan 2028 36.73 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DG1 Secured Retail Non-Convertible Debentures 20 Jan 2023 Not avl. / Not appl. 20 Jan 2028 15.51 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DH9 Secured Retail Non-Convertible Debentures 20 Jan 2023 10.000 20 Jan 2033 47.20 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DI7 Secured Retail Non-Convertible Debentures 20 Jan 2023 10.450 20 Jan 2033 23.85 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DP2 Secured Retail Non-Convertible Debentures 27 Apr 2023 9.200 27 Apr 2026 38.06 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DS6 Secured Retail Non-Convertible Debentures 27 Apr 2023 9.600 27 Apr 2026 28.06 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DU2 Secured Retail Non-Convertible Debentures 27 Apr 2023 Not avl. / Not appl. 27 Apr 2026 10.67 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DT4 Secured Retail Non-Convertible Debentures 27 Apr 2023 9.670 27 Apr 2028 68.66 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DV0 Secured Retail Non-Convertible Debentures 27 Apr 2023 10.100 27 Apr 2028 29.84 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DW8 Secured Retail Non-Convertible Debentures 27 Apr 2023 Not avl. / Not appl. 27 Apr 2028 9.92 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DX6 Secured Retail Non-Convertible Debentures 27 Apr 2023 10.000 27 Apr 2033 34.56 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DY4 Secured Retail Non-Convertible Debentures 27 Apr 2023 10.450 27 Apr 2033 12.23 Simple ACUITE A+ | Stable | Reaffirmed Not Applicable INE532F07DM9 Secured Retail Non-Convertible Debentures 20 Jan 2023 9.20 20 Jan 2026 54.49 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07DN7 Secured Retail Non-Convertible Debentures 20 Jan 2023 9.600 20 Jan 2026 49.76 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07DL1 Secured Retail Non-Convertible Debentures 20 Jan 2023 Not avl. / Not appl. 20 Jan 2026 20.16 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07CV2 Secured Retail Non-Convertible Debentures 20 Oct 2022 8.85 20 Oct 2024 21.50 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07CW0 Secured Retail Non-Convertible Debentures 20 Oct 2022 Not avl. / Not appl. 20 Oct 2024 10.73 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07CX8 Secured Retail Non-Convertible Debentures 20 Oct 2022 8.90 20 Oct 2025 57.71 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07CY6 Secured Retail Non-Convertible Debentures 20 Oct 2022 9.25 20 Oct 2025 42.10 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07CZ3 Secured Retail Non-Convertible Debentures 20 Oct 2022 Not avl. / Not appl. 20 Oct 2025 22.53 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07EA2 Secured Retail Non-Convertible Debentures 21 Jul 2023 8.95 21 Jul 2025 10.02 Simple ACUITE Not Applicable | Withdrawn Not Applicable INE532F07EB0 Secured Retail Non-Convertible Debentures 21 Jul 2023 Not avl. / Not appl. 21 Jul 2025 5.71 Simple ACUITE Not Applicable | Withdrawn

*Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support)

­ Sr. No. Entities 1 Edelweiss Financial Services Limited 2 Ecap Securities and Investments Limited 3 Edelweiss Investment Adviser Limited 4 Ecap Equities Limited 5 Edel Finance Company Limited 6 Edelweiss Rural & Corporate Services Limited 7 EdelGive Foundation 8 ECL Finance Limited (Edelweiss Retail Finance Limited merged with ECL Finance Limited on September 30, 2025) 9 Nido Home Finance Limited 10 Edelweiss Multi Strategy Fund Advisors LLP 11 Edelweiss Asset Reconstruction Company Limited 12 EAAA Transinfra Managers Limited 13 Edge Advisory and Management Services Private Limited (formerly known as Allium Corporate Services Private Limited) 14 Edelweiss Asset Management Limited 15 Edelweiss Trusteeship Company Limited 16  Edelweiss Value and Growth Fund 17 Edel Investments Limited 18 Edelcap Securities Limited 19 Edelweiss Private Equity Tech Fund 20 Edelweiss Global Wealth Management Limited 21 Comtrade Commodities Services Limited 22 Edelweiss Securities and Investments Private Limited 23 Edelweiss Life Insurance Company Limited (formerly known as Edelweiss Tokio Insurance Company Limited) 24 Zuno General Insurance Limited 25 EAAA India Alternatives Limited (formerly known as Edelweiss Alternative Asset Advisors Limited) 26 EAAA Real Assets Managers Limited (formerly known as Edelweiss Real Assets Managers Limited) 27 Sekura India Management Limited 28 EAAA Pte. Ltd. (formerly known as Edelweiss Alternative Asset Advisors Pte. Limited) 29 Edelweiss International (Singapore) Pte. Limited 30 Nuvama Custodial Services Limited

Contacts

Mohit Jain Chief Analytical Officer - Rating Operations Nivedita Gokul Analyst - Rating Operations	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating. Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.