This is to inform you that Meerut Buduan Expressway Limited ('MBEL'), on October 27, 2022, has allotted the first tranche of Indian-rupee denominated unlisted, unsecured, redeemable, non-convertible debentures ('NCDs') aggregating to INR 138.65 Crore on a private placement basis to the Company and the Financial Investor. The Company and Anahera Investment Pte. Ltd, an affiliate of GIC Private Limited, as the financial investor have contributed INR 70.72 Crore and INR 67.93 Crore respectively.