Mphasis Limited — Capital/Financing Update 2018

Oct 5, 2018

DocuSign Envelope ID: 04B7B873-0CCA-4B41-8113-D7A6FA0F3EDB

5 October 2018

The Manager, Listing The Manager, Listing BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. c/1, Dalal Street, G-Block, Bandra-Kurla Complex, MUMBAI - 400 001 MUMBAI – 400 051

Dear Sir/Madam,

Sub: Public Announcement for the Buy-back of equity shares of the Company

Pursuant to Regulation 7 of the SEBI (Buy-back of Securities) Regulations, 2018, please find enclosed herewith a copy of the Public Announcement dated 1 October 2018 for Buy-back of equity shares of the Company published in Business Standard (English and Hindi editions) and Vishwavani (Kannada edition) on 3 October 2018, a copy of which has been already submitted by our Merchant Banker JM Financial Limited on 3 October 2018.

We request you to kindly take the above on record as per the SEBI (Buy-back of Securities) Regulations, 2018.

Thanking you,

Yours faithfully,

For Mphasis Limited

==> picture [135 x 37] intentionally omitted <==

Subramanian Narayan Vice President and Company Secretary

==> picture [34 x 37] intentionally omitted <==

==> picture [595 x 77] intentionally omitted <==

10

MUMBAI | WEDNESDAY, 3 OCTOBER 2018

==> picture [917 x 1395] intentionally omitted <==

~~>~~

TAKE TWO 11

MUMBAI | WEDNESDAY, 3 OCTOBER 2018

~~.~~

==> picture [347 x 288] intentionally omitted <==

Bus start-ups take a slow ride to next stop

Mass mobility services have struggled to take off, but there are signs the signal could finally turn from yellow to green

PATANJALI PAHWA and Ola but it aggregates buses and exists on the Mumbai, 2 October fringes of Indian mobility. But let’s go back to Careem. Why does Careem want Commut? It ast week, something slipped under the was to unveil a mass mobility platform in West radar. Indian company Commut was Asia and North Africa. The economics in this acquired by Dubai-based ride-hailing business is attractive. The per seat cost is low, Lunicorn Careem. There was not even the fuel price is low and the demand at certain an eyebrow raised and barely any newspaper hours is extremely high. It is a business model covered it. Truth be told, there was hardly any that is bound to find traction in West Asia. But, cash involved in that deal. Careem was essenit hasn’t in India. tially picking over the bones of a company A few green shoots, however, are visible that had shuttered. The Dubai-based companow. In August this year, Bengaluru-based ny took the team and the tech. Gurugramcompany, Zipgo, announced a round where it based Shuttl took on the operations and the raised ~3,000 million led by Essel Green employee database. Mobility Limited, which is under the Essel What is Commut? It is a bus aggregation Group that is led by Subhash Chandra. This service. A company that functions just like Uber investment did raise eyebrows. The 67-year-

old Rajya Sabha member has not been active licences. There are two types of licences in in start-ups as an investor. But he was interIndian states — state carriage and contract carested. And there is a reason. riage. State carriage means the company can Currently, Zipgo is in six states. “I can’t tell pick up and drop passengers along a fixed route. you which cities,” said co-founder and CEO Passengers can hail the bus down at designatJitender Sharma. “Competition is too tight.” ed stops. State governments don’t give these Sources in the sector say that the company away. The state city transport bodies enjoy a records between 5,000 and 10,000 rides a day. near monopoly when it comes to these licences. The competition that Sharma is paranoid about Contract carriage licences are granted for a is Shuttl, which records almost 40,000 rides a pre-existing contract between a customer and day. Looks small? Yes, it is approximately one the company. Both have knowledge of each otheighth of the Ola and Uber ride numbers. But as er and the contract is made before the ride traffic increases and fuel prices continue to spistarts. “It is what we do,” says Sharma. His comral, customers will start to look for cheaper pany operates in Mumbai, Hyderabad and options. Here the costs come down to ~3 to ~5 a Bengaluru, among other cities. kilometre. Each ride of a bus breaks even at 80 There is a subtle difference between the two per cent capacity. Which licences. But there means 30 passengers. exists a grey area. Let’s The economics are assume a bus goes from easy to achieve. “The point A to point B. challenge comes in Before the bus starts aggregating demand,” from point A, if a cussays Sharma. And that’s tomer buys a ticket to be where the scale of this picked up from a point business flexes its musbetween the point of cles. The ride numbers origin and destination, then start to look interit is technically doing esting. It may not be a the same job as a state winner- takes-all marcarriage. That explains ket, but this sector has Zipgo’s secrecy. the potential to dwarf Set up in 2015, Zipgo the ride-hailing uni- TRAVEL TALES has the capital to grow corns by the sheer volbeyond six states but ume of customers fer60,000: The number of mass current laws stand in its ried from one place to way. “It is good to read mobility rides a day by Zipgo another. There is cerand Shuttl combined the tea leaves,” says a tainly demand. But policy professional at despite the upside, there one of the two ride-hail~1,400 billion: Cost of congestion are only a few compaing companies in the nies in this sector. in Mumbai, Delhi, Bengaluru and country. “Why would About two years ago, Kolkata annually Chandra invest in a Zipgo was forced to company that is stuck shutter its operations ~632 billion: The cost of in a policy quagmire?” temporarily in congestion in Delhi annually There is a Bill stuck Bengaluru when the in the Rajya Sabha. The company did not have 2.8 lakh litres: Fuel wasted per draft Motor Vehicles the right licences. “I hour in Bengaluru because of Act, which mandates don’t want to talk about congestion that private organisait, you can write if you tions can compete with like,” said Sharma. The 27 km/hour: The average speed of city transport services. company was deemed vehicles on Delhi’s arterial roads It also waives licences operating under the needed for electric wrong licences and the vehicles that serve as Source: Company, Niti Aayog Report police forced Zipgo to public mass transit withdraw its operations options. If cleared, the from the city. That isn’t to say the company has regulations could open up opportunities for left the city. It is still around, operating in the new players in mass transit, something the background in a slightly different way. states have been resisting. But if the Bill goes Zipgo’s competitor, Shuttl, also has its own through, start-ups will be able to offer a viable set of problems. It got into a tiff with Ola back in alternative to the ageing bus services that have 2015 when the Bengaluru-based unicorn took not been able to keep up with demand in the up the name Shuttle for its bus service. Both metros. And the sheer number of people in sides alleged driver poaching and claimed first India means there is enough room for both right to the name. Nothing came of it. In early types of commuter service to co-exist. 2018, Ola shut its bus operations to focus on Mass mobility in India is in that brief cabs. Shuttl, too, has found it difficult to grow, moment in a race when the light turns from especially in cities such as Pune, where it tried yellow to green. Just that this moment has lasteverything, including B2B, and still couldn’t ed three years. The renewed enthusiasm, howget any purchase. ever, indicates that the lights may finally be The problem plaguing both companies is about to change.

~~<~~

KKR bets Southeast Asia will be a trade war winner

BLOOMBERG

2 October

KKR & Co is seeking to invest more in Southeast Asia, where companies are poised to benefit from the USChina trade dispute, according to the private equity firm’s co-founder Henry Kravis.

“The longer that the dispute with China and the US goes on, I think you are going to see more opportunities” for investment in the Association of Southeast Asian Nations, Kravis said in an interview in Kuala Lumpur last week. The openings “come up where companies are saying: ‘I need to diversify my supply chain”’ as a result of the trade dispute, Kravis added.

The 10-economy Asean bloc is seen as a natural magnet for new factories, thanks to low production costs and improving infrastructure. The region was the top choice for about one-third of the more than 430 American companies in China that have moved or are considering moving production sites abroad amid the trade tensions, according to a recent survey. KKR also sees opportunities in Asean as a result of the region’s favourable demographics, with growing wealth and migration from rural areas to the cities. The firm is especially keen on companies that address food safety issues, following successful investments in such firms in China,

==> picture [187 x 122] intentionally omitted <==

Kravis said. Last year, KKR put $250 million into Vietnamese condiment and instant noodle producer Masan Group, with $150 million allocated to its meat-producing business. KKR played the food safety theme “very well in China and we expect to play the same thing here, and have been doing it with Masan in Vietnam,” Kravis said. “We plan to do that in other parts and are having conversations with different companies in the supply chain of food.” KKR’s diversified operations allow the firm to find investment opportunities even in an environment where record Asian fund raisings have created the danger of too much capital chasing too few companies, according to Kravis. KKR raised $9.3 billion for its third Asia fund last year. Blackstone Group has about $15 billion to deploy to real estate, private equity and other opportunities in Asia.

==> picture [941 x 720] intentionally omitted <==