SIS LIMITED — Capital/Financing Update 2025

Feb 12, 2025

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Date: February 12, 2025

National Stock Exchange of India Limited Exchange Plaza C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai-400051 NSE Symbol: SIS

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai-400001 BSE Code: 540673

Dear Sir/Madam,

Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We wish to inform you that the Investment Committee of SIS Limited (“ SIS ”) has, in its meeting held today i.e., Wednesday, February 12, 2025, approved an investment of up to INR 6 crores in Adhikosh Financial Advisory Private Limited (“ Kosh ”) by way of subscription to Compulsorily Convertible Preference Shares (“CCPS”) for the acquisition of approximately 3.27% equity stake.

The details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, are enclosed as Annexure-A.

The meeting commenced at 04:10 p.m. and concluded at 5:30 p.m.

Kindly take the above information on record.

Thanking you.

Sincerely,

For SIS Limited

PUSHPA Digitally signed by PUSHPA LATHA LATHA KATKURI Date: 2025.02.12 KATKURI 17:37:43 +05'30'

Pushpalatha K Company Secretary

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Annexure-A

Information required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

a)	Name of the target entity, details in brief such as size, turnover etc.;	Adhikosh Financial Advisory Private Limited (“Kosh”), a company incorporated under the Companies Act, 2013 and having its registered office at B2-1102, Palm Grove Heights Apartment, Ardee City, Sector 52, Sector-45, Gurgaon, Haryana – 122003 India. For the financial year 2023-24, the revenue was Rs. 13.50 Crores.
b)	whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”;	The proposed acquisition does not fall within related party transaction(s) and the promoter/promoter group/group companies of SIS do not have any interest in Kosh. Certain members of the Senior Management of SIS will have the opportunity to co-invest in Kosh in the future.
c)	industry to which the entity being acquired belongs;	The Company is primarily engaged in the business of operating and managing the Platform under the brand name “Kosh” to facilitate unsecured joint liability group loans to blue collar workers.
d)	objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	SIS established the SIS Ventures program to invest in early-stage, tech-enabled companies that offer synergistic adjacencies and create value for its customers or employees. This investment aligns within the employee-focused category, as it supports our 2.85 lakh employees by providing early salary or on-demand loan facilities.
e)	brief details of any governmental or regulatory approvals required for the acquisition;	None
f)	indicative time period for completion of the acquisition;	45 (forty five) days

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g)	consideration - whether cash consideration or share swap or any other form and details of the same;	Cash consideration
h)	cost of acquisition and/or the price at which the shares are acquired;	SIS would be investing INR 6.0 Crores at per share price of INR 1,138.20
i)	percentage of shareholding / control acquired and / or number of shares acquired;	SIS proposes to invest INR 6.0 Crores by way of subscription to 52,715 Series A CCPS, for acquisition of 3.27% shareholding.
j)	brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	Adhikosh Financial Advisory Private Limited (“Kosh”), was incorporated on Nov 25, 2019 in Gurgaon, India by the co-founders, i.e., Mr. Sahil Bansal and Mr. Aayush Goel. Both Mr. Sahil and Mr. Aayush are alumni of the IIT Delhi 2014 batch. After graduating, they worked together at Goldman Sachs and later co-founded another startup before Kosh. Both were part of the prestigious Y-Combinator 2020 cohort and have been recognised in the Forbes 30 Under 30 list. Kosh is FinTech platform (operating in the Google Play ecosystem, i.e. Mobile App) which enables salary driven blue-collar workers to obtain Group loans in the Joint Liability Group (JLG) model. The Company is focused on Tier2 – Tier4 Towns such as Rudrapur, Alwar, Haridwar, etc., which is white space in the FinTech Market. In a nutshell, Kosh is building distribution channel for Bharat for Microfinance 2.0 – Joint Liability Group loans for blue collar workers. The turnover for the past three years is as follows: FY24 – Rs. 13.50 Crores FY23 – Rs. 6.55 Crores FY22 – Rs. 1.81 Crores