Corporate Presentation

April 2022

Asset Capital Institutional Insurance

Management Markets Equities Broking

Mergers & Private Structured Wealth

Acquisitions Equity Finance Management
 Equirus Group : What we do
Investment Banking Advising High-Growth Corporates to… …through a suite of services, we offer :

● Fund organic growth opportunities through public & private Mergers and Acquisitions + Private Equity
High Growth Corporates, markets
Entrepreneurs and ● Execute inorganic growth ideas and streamline existing Capital Markets – Debt and Equity
Financial sponsors businesses
Debt Syndication & Advisory

Institutional Broking Assisting Large Institutional Investors to.. …through a suite of our services, we offer :

● Transact in equity and bond markets through mid-market

focused, award-winning research and corporate access Institutional Sales and Trading – Cash + Derivatives
Institutional Investors
Equity Research

Wealth & Asset

Management Advising HNIs to… …through a suite of services, we offer :

● Manage wealth across asset classes through superior advice and

High Net Worth judicious allocation Wealth Management
Individuals ● Manage assets to earn superior advice and market-adjusted
returns Portfolio Management Services

Insurance Broking Risk advisory & Insurance Portfolio Management …through a suite of services, we offer

● Insurance Program design ( Portfolio level risk solutions) ● Insurance Program Audit & Benchmarking studies
Corporate & Retail ● Risk advisory on coverage enhancement, cost optimization etc. ● Policy placements with Category A –Insurance Companies
( Life , General & Health) ● Risk Inspection and claims prevention measures ● End to end claims servicing & negotiations & settlements

2 Privileged & Confidential, © 2022, All Rights Reserved.

 The Equirus Value System

Client Commitment Data Driven Ethical Dealing with all Building Relationship
First Focus to the Last Objectivity Stakeholders 200+ Deals with 143
clients

Our Partners

70+
Rakesh Jhunjhunwala ● Shareholder Since 2018 (20% Equity) Employee Shareholder
Shareholder Since 2007 (13 % Equity) ● 6th Largest Private Sector Bank with 1274
branches
● Balance Sheet Size of > Rs 2000 bn

3 Privileged & Confidential, © 2022, All Rights Reserved.

 Equirus Group in Numbers

175+ 19 244
Professionals across Offices across 17 Cities Stocks under research coverage
divisions

$7.1 bn $2.6+BN $590+MN

Deal value across 200+ Average Monthly Turnover Wealth AUM
Transactions

56,100+ 17,800+ 14+

Customers Followers with 3,350+ App Years of existence
Download

4 Privileged & Confidential, © 2022, All Rights Reserved.

 INVESTMENT BANKING
Case in Point – Sole Financial Advisor for all transactions done in the year

Services Provided

CREATING THE CONCEPT WITH INVESTORS

Acquisition of

IDENTIFYING TARGET
2021

CREATING A LISTED COMPANY

Investment By

MANAGING FUNDING
2021

ADVISORS OF CHOICE FOR ACQUISITION

Acquired by

IDENTIFICATION OF WHITE SPACES AND GETTING SOLUTIONS Owned by Funds advised by

2021

5 Privileged & Confidential, © 2022, All Rights Reserved.

 Relationship with Buyers across Geographies and Industries

Case Study

Equirus ran an extensive sell side

process reaching to buyers globally
Majority stake and secured 5 offers. Facilitated a
Tailored, confidential acquired by premium valuation for the
Equirus maintain an
advisory process that active dialogue, based ‘s shareholders that was 2.5x over
prioritizes client and above the standard benchmark
on deep rooted
needs and secure Knowledge multiple
Trust relationships, with key
the best possible &
decision makers at
premium offer for Relationship
nearly all major Equirus ran an extensive sell side
them domestic and process reaching to buyers globally
companies Investment By and facilitated a premium
valuation for the shareholders
which the company has not able to
get historically

Experience Equirus ran an extensive sell side

process reaching to buyers globally
Acquired by and facilitated a premium
valuation for the shareholders that
Experience of bringing different type of buyers was 1.0x over and above the
across geographies and industries to participate Owned by Funds advised by standard benchmark multiple
in a competitive process

Equirus unique ability to bring different types of buyers in the process leads to premium valuation

6 Privileged & Confidential, © 2022, All Rights Reserved.

 Equirus – with their first IPO as L&T Finance has built good momentum…

Track record of successfully executed capital markets transactions

Exit to
GR Infrastrure Antony Waste
BRLM Left-Lead BRLM BRLM Left-lead BRLM Left-lead BRLM BRLM Left-lead BRLM
Initial Public Offering Initial Public Offering Sole Advisor Initial Public Offering Initial Public Offering QIP Initial Public Offering Initial Public Offering

Shankara Edelweiss Financial Bank of Minda Industries Ltd. Muthoot Finance

MSTC Ltd. TDPS L&T Financial
Building Products Services Maharashtra Lead Manager
Holdings Left-lead manager
Sole BRLM BRLM BRLM BRLM Sole Manager BRLM NCD Issuance –
Rights Issue
Initial Public Offering Initial Public Offering Initial Public Offering Initial Public Offering NCD Issuance QIP Tranche I

Gammon Niyogin Fintech Chokhani Securities

Seamec Ltd. Syndicate Bank Minda Industries Camlin Fine Sciences
Poddar Developers Infrastructure Projects
Sole lead manager Sole lead Manager
Sole BRLM Acquisition and Left-lead BRLM Sole BRLM BRLM/ Advisor
BRLM Acquisition and Open Acquisition and Open
QIP Open Offer QIP QIP 2 QIPs and 1 block
QIP Offer Offer

Strong momentum with the pipeline

Leading Leading Leading

To be filed with SEBI

Auto & Auto Industrial Industrial
Component Company
Pending Launch

Company
BRLM Left Lead BRLM Left Lead BRLM BRLM BRLM Left Lead BRLM BRLM Company Left Lead BRLM BRLM
Initial Public Initial Public Initial Public Initial Public Initial Public Initial Public Initial Public BRLM Initial Public Initial Public Initial Public
Offering Offering Offering Offering Offering Offering Offering Offering Offering Offering

BRLM BRLM BRLM BRLM Left Lead BRLM BRLM

Initial Public Initial Public Initial Public Initial Public Initial Public Initial Public
Offering Offering Offering Offering Offering Offering

7 Privileged & Confidential, © 2022, All Rights Reserved.

 Equirus | Momentum to be continued from 2021
Treading the high wave in capital markets…

FEDBANK BIBA
TVS Supply Ebixcash Corrtech
Inox Green Financial
DRHP filed
Chain Solutions
Services Limited DRHP filed International Fashion
DRHP filed
and will continue in 2022…
DRHP filed DRHP filed
DRHP filed

Feb ‘22 Feb ‘22 Feb ‘22 Mar ‘22 Mar ‘22 Apr ‘22

Harsha
Engineers
DRHP filed
Feb ‘22 DreamFolks Fabindia Protean
Hexagon
Metro Brands Anand Rathi
Godavari
Metro Brands
Krsnaa
Nutrition Biorefineries Diagnostics
DRHP filed DRHP filed DRHP filed listed Wealth listed DRHP filed
DRHP filed DRHP filed listed

Jan ‘22 Jan ‘22 Dec ‘21 Dec ‘21 Dec ‘21 Dec ‘21 Sep ‘21 Aug ‘21 Aug ‘21
Prudent Corporate
Advisory Services
Ltd. DRHP Filed
Launched
Antony Waste Rolex Rings GR Infra DRHP
Krsnaa Shri Bajrang Anand Rathi
GR Infraprojects Minda Rolex Rings Aug ‘21
Diagnostics Power and Ispat Wealth DRHP
Handling Cell DRHP filed filed listed Industries QIP listed
DRHP filed Ltd DRHP filed filed
Ltd IPO

Jan ’21 Mar ’21 Apr ‘21 May ‘21 Jul ‘21 Jul ‘21 Jul ‘21 Aug ‘21 Aug ‘21

8 Privileged & Confidential, © 2022, All Rights Reserved.

 FIXED INCOME

Debt Capital Market Debt Syndication Public Debt Issues – FY22 LEAGUE TABLE

● Debt Capital Markets ● Term Loan Rank Investment Banker Total No. of Issues
a. Public Issue of Bonds ● Project Finance
b. Private Placement ● Working Capital 1st EDELWEISS 9
c. Structured Products ● Securitisation & Structured
2nd EQUIRUS CAPITAL 8
● Distribution of Fixed Income Products Finance
● Advisory ● Refinancing 3rd TRUSTINV 7
a. Transactional Advisory ● Acquisition Finance
4th IIFL SECURITIES 6
b. Investment Advisory to Retirement funds ● Infrastructure Finance
5th JM FINANCIAL 3

Market-leading experience in Bond Markets

The team has experience of mobilising more than INR 53,000 Crs of
Public Issuances and Private placements for over 30 Corporates over
the last 3 Yrs.

9 Privileged & Confidential, © 2022, All Rights Reserved. Source for FY22 League table ranking: Primedatabase.com
 INSTITUTIONAL EQUITIES

Multi-bagger ideas from Equirus Equirus DII Market share trend

Returns
Company Name Duration (Yrs) CAGR (%)
(X times)
2.0%
Atul Ltd 33.6 9 50%
1.8%
Astral Poly Technik Limited 32.0 9 50%
Balkrishna Industries Ltd 30.0 12 34% 1.6%
Ratnamani Metals & Tubes Ltd 26.3 10 38% 1.4%
Minda Industries Ltd 24.0 7 56% 1.2%
Persistent Systems Limited 23.1 12 30%
1.0%
Berger Paints (India) Ltd 21.9 11 32%
Solar Industries 18.1 9 40% 0.8%
Eicher Motors Ltd 15.7 11 30% 0.6%
Supreme Industries Ltd 13.5 11 26% 0.4%
Cera Sanitaryware Ltd 13.2 10 31%
0.2%
Asian Paints Ltd 12.0 11 25%
Kajaria Ceramics Ltd 10.9 10 27% 0.0%
Symphony Limited FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22
10.4 11 24%
Mayur Uniquoters Ltd 9.7 10 25%
Torrent Pharmaceuticals Ltd 9.5 11 23%
HCL Technologies Ltd 9.4 11 23%
Aurobindo Pharma Ltd 8.6 9 27%
Can Fin Homes 8.4 8 32%
Natco Pharma Ltd 8.1 9 27%
Havells India Limited 7.6 8 28%
Britannia Industries Ltd 7.3 8 26%
HSIL LIMITED 7.1 10 21%

10 Privileged & Confidential, © 2022, All Rights Reserved.

 PORTFOLIO MANAGEMENT SERVICES
PERFORMANCE , CLIENT TRUST & AVERAGE AUM GROWTH

Performance of Equirus Long Horizon Fund Client Retention

Since Our PMS has a client retention ratio exceeding ~95% for past 3 successive
1 Year 3 Year 5 Year
Inception years.
Equirus Long Horizon Fund 39.9% 35.7% 27.1% 26.1%
Total AUM Retention %

Best Performing PMS FY 19-20 65.69 96.9%

Our PMS is India’s one of the best performing PMS out of 35 PMS FY 20-21 234.81 98.4%
providers operating for more than 3 years across the whole country and
who have an AUM greater than 300 Cr. FY 21-22 554.44 99.3%

Growth in Average AUM per client

600 4.0
AUM(in Crs) Avg Aum(in Crs)
3.0
400
2.0
200
1.0
- -
Jan-17

Jan-18

Jan-19

Jan-20

Jan-21

Jan-22
Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Oct-19

Apr-20

Oct-20

Apr-21

Oct-21
Jul-18
Jul-17

Jul-19

Jul-20

Jul-21

Source: PMS Bazaar

Note: Figures are net of fees and as of March 31, 2022. Return data disclosed above in the table is CAGR (based on TWRR),
Disclaimer: TWRR is calculated based on daily valuation of all the Clients. This may differ from individual client return as scheme return is combined for all the clients. Trading and investments in Equities are subject to market risk, there is no assurance
or guarantee of the returns, it will be purely a target return rather than guaranteed return. Please read the Risk Disclosure Document carefully before investing. Performance related information provided therein is not verified by SEBI. All clients have
an option to invest in the products / investment approaches directly without intermediation of persons engaged in distribution services.

11 Privileged & Confidential, © 2022, All Rights Reserved.

 PORTFOLIO MANAGEMENT SERVICES
3 Year Rolling Return Analysis

ELHF has outperformed index on all the 613 observations. ~99% of times the outperformance is between 30% to 75%.

Performance Count % of total Outperformance Range Count % of total

Upto 30% 7 1%
Outperformance 613 100%
30% to 50% 203 33%
Underperformance - 0% 50% to 75% 228 37%
Above 75% 175 29%
Total 613
Total 613

Comparison of actual returns of ELHF and benchmark

a. Out of 613 observations, ELHF has given negative returns only on 13 observations (2.1% of total) as compared to 235 by the benchmark (38.3%).
b. ELHF has returned above 10% CAGR returns for 508 observations (83% of total) whereas the benchmark has just done it for 218 observations (36%).
Note: Returns mentioned in the table below are 3-year daily rolling CAGR returns.
Performance Range ELHF % of total Benchmark % of total
Less than 0% 13 2.1% 235 38.3%
0% to 10% 92 15% 160 26%
10% to 20% 257 42% 83 14%
20% to 30% 37 6% 124 20%
Above 30% 214 35% 11 2%
Total 613 613

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 WEALTH MANAGEMENT
EWPL Clients – Client Centric Approach leading to exponential growth

The Asset Triple A Private Capital Awards 2021

RISING STAR
BEST BOUTIQUE WEALTH
PRIVATE BANKING AND WEALTH MANAGEMENT AWARDS MANAGER

Q-o-Q Snapshot of EWPL clients for last 2 FY’s

60,000 54,487

50,000

40,000 39,478

30,000

20,000 16,297
13,009 14,120
9,547 10,849
6,462 7,656
10,000 5,068
1,515 3,003
958
0
Sep 19

Dec 19

Dec 20
Sep 20

Sep 21

Dec 21
Apr 19

Jun 19

Mar 20

Jun 20

Mar 21

Jun 21

Mar 22
● Strong word of mouth leading to more friends & families of existing
Mis-selling reported Nil clients joining Equirus Wealth Family
● Increase in share of wallet for existing customers

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 WEALTH MANAGEMENT

Equirus Wealth vis-à-vis Industry – Beating the trend

347
340 Industry MF AUM Growth EWPL MF AUM Growth
320 316
311 309 313
320
298
300

280
256 259
260
235
240
221
213
220
195
200 189 187
179 180
180
154
160
137 142
134
140 124 128
116 118 141 141 142 143 142 142
138 138
120 133
100 102 125 127
95 119 118 122
100 113 117 115
105 103 102 104 106
100 101
80 93 96
90
84

Source: AMFI and Internal Reports

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 INSURANCE BROKING

Specialty lines
Sectoral Focus

● Fire & Property 1 ● Specialty Insurance Team (E.g. Property, Marine, Liability, EB Et Al.)
● Exclusive sectoral tie ups with Category A Insurance Cos
● Project & Engineering
● Liability & Financial Lines
● Marine – Cargo & Hull Complete risk management and wholesome BFSI solution – Equirus way..
● Employee Benefits 2 ● Risk Portfolio Management

● Miscellaneous ● Tailor made insurance solutions / Dedicated RMs / Corporate Helpdesk

● Life & Health (Retail)

Strong connect with the underwriting market and other insurance

3 intermediaries

Claims at the core of our service

4 ● Dedicated claims team lead by Ex. PSU Insurance veteran
● End to end claims management

We cater to the complete bouquet of insurance – Life, Health & General – Tie
5 ups with 35 leading Insurers

15 Privileged & Confidential, © 2022, All Rights Reserved.

 Client testimonials
“The Equirus team was one of the earlier backer of Minda story and working with
them, we have been able to get high quality investors and win the faith of
broader equity markets… “
Mr. Nirmal Kumar Minda,
Chairman & Managing Director – Minda Industries Ltd
“I know the team of Equirus for 10 years now and I have been with Equirus-PMS
for three/four years. It has been a very satisfying experience working with them.”
Mr. Mohib Khericha, Managing Director – Chairman TD Power Systems Limited
“Equirus represented us, … and a quality that is worth mentioning is their ability to
understand and appreciate the qualitative aspects of our business and the
commitment and direct involvement of the team leader, to work very closely, on
the transaction, all through”
Mr. V. Mahadevan, Founder, Director - Wealth Advisors
Equirus played an absolutely critical role in helping us on our IPO journey including
making sure that the Company was IPO-ready, advising us on best practices,
handholding us in the process, preparing us for investor meetings and converting
long-term investors to partner with us in our journey as a listed company. We are
extremely thankful to the entire Equirus team for their unflinching support during the
process.”
Mr. Jose Jacob Kallarakal, Chairman & Managing Director - AWHCL
We are very happy with our association... Their team is brilliantly balanced to
guide and deliver immense value to Kogta Financial. The best thing is their focus
and commitment towards long term prosperity and success of their clients
Mr. Varun Kogta, Director and CFO - Kogta Financial
"We had mandated Equirus to help us find a strategic partner with the right
cultural fit that can significantly increase our global access. Equirus team, with its
strong global reach, delivered that emphatically and that too during the
outrageously challenging times of the world pandemic “
Mr. Mahesh Kumar Agrawal, Founder and CEO - Areteans
“Equirus Capital has been with us every step of the day on our IPO journey and have played the
role of an advisor, banker and mentor while guiding us in the right direction. We could have not
achieved the IPO had it not been for support from the Equirus team”
Mr. Manesh Madeka, MD - Rolex Rings
16 Privileged & Confidential, © 2022, All Rights Reserved.
“The entire process of the IPO went extremely smooth as we had Equirus working
tirelessly with the Krsnaa Team. As a promoter I had seen a dream, but the
Equirus team stood along as a strong family and helped me achieve this dream” –
Mr Rajendra Mutha, Chairman - Krsnaa Diagnostics Limited
Equirus is always onward and upward looking true to its logo. I had observed that
Equirus is multi-dimensional with quest for excellence by constantly entering into
new vistas of financial services and excel… “
Mr. Murali M, Chairman & Managing Director - Shriram Properties
“Equirus Capital have provided Merchant banking and financial services to us.
Equirus was instrumental in helping achieving our IPO and broader market
acceptability with the excellent team work …”
Mr. Sukumar Srinivas, Managing Director – Shankara Building Products Ltd
“Equirus’ deep sector expertise and industry relationships in technology space
were critical factors that ensured a successful transaction. I am very thankful for all
of their hard work during this sale process"
Sri Arardhi, CEO & Founder - Whishworks
On time execution and focused approach led to successful closing amidst global
market volatility due to Brexit”
Mr. Ashish Dandekar
Managing Director, Camlin Fine Sciences
Equirus helped us identify the best partner that shared our strategic vision.
Equirus’ strong industry relationships and digital technology expertise generated
process that yielded the best outcome for existing shareholders and the right
partner for the company going forward“
Mr. Kamran Khan, CEO & Founder - Search Technologies
“I have engaged with Equirus for my current investment needs and have actually acted upon their
well thought out and planned investment advice. I recommend Equirus Wealth wholeheartedly, the
RM had the remarkable knack of instinctively understanding my investment misgivings, wealth
protection aspirations, and furnished transparent advice customised as per my risk profile.
- Mr. Vishwanath Pai, Wealth Client
 Equirus Board

Ajay Garg Ajit Deshmukh Deepak Singhal Donald D’Souza

Managing Director Managing Director & Co-Head Investment Former Executive Director - Reserve Bank Managing Director &
Banking & Board Member of India & Non-Executive Board Member Co-Head Investment Banking

Harsh Dugar Rajiv Agarwal Shankar Vailaya

Head, Wholesale Banking – Federal Bank & Managing Director - Rare Enterprises & Founding Member and Former Director - Sharekhan
Non-Executive Board Member Non-Executive Board Member Non-Executive Board Member

Team arranged in alphabetical order

17 Privileged & Confidential, © 2022, All Rights Reserved.

 Leadership

Arun Garg Ashutosh Tiwari Bhavesh Shah Kavita Gandhi Prachi Mishra
Head – Equirus Managing Director – Research Managing Director – CFO Director – Human Resource
Insurance Broking Consumer & Healthcare Banking

Rahul Roychowdhury Venkatraghavan S Vinay Pai Viraj Mehta

Head – Managing Director & Head – Head of Fixed Income Managing Director – PMS
Wealth Management Equity Capital Markets

Team arranged in alphabetical order

18 Privileged & Confidential, © 2022, All Rights Reserved.

 Team

Ankur Punj Dinesh Kunder Maulik Patel Munish Aggarwal Nevil Dedhia Pritam Barkataki
Director – Head Debt Syndication Director - Research Director – Director – Sales Business Head – Insurance
Wealth Management Investment Banking Broking

Sandeep Gogia Sandeep Shah Smita Tiwari Vikram Patil Vishad Turakhia
Director – Director – Research Legal & Compliance Head Head - Institutional Director – Sales
Investment Banking Sales Trading

Team arranged in alphabetical order

19 Privileged & Confidential, © 2022, All Rights Reserved.

 For any other queries write to us at
contact@equirus.com

Corporate Office :
New Delhi
Equirus Capital Private Limited
12th Floor, C Wing, Marathon Futurex, N M Joshi Marg, Lower
Parel, Mumbai - 400 013
Guwahati
Equirus Securities Private Limited
21st Floor, A Wing, A-2102, Marathon Futurex, N M Joshi Marg,
Ahmedabad
Lower Parel, Mumbai - 400013
Kolkata
3rd floor, House No. 9, Magnet Corporate Park, Near Zydus
Hospital, B/H Intas, Sola Bridge, S.G. Highway,
Ahmedabad - 380 054

Equirus Wealth Private Limited Mumbai

Pune Hyderabad
AMFI-registered Mutual Fund Distributor
21st Floor, A Wing, A-2102, Marathon Futurex, N M Joshi Marg,
Lower Parel, Mumbai - 400013

Equirus Insurance Broking Private Limited Bangalore

Chennai
12th Floor, C Wing, Marathon Futurex, N M Joshi Marg, Lower
Parel, Mumbai - 400 013 Kannur Malappuram
Kozhikode
IRDA Licensed Direct Insurance Broker ( Life & General) | License Cochin Coimbatore
# 763 License Validity: 1st August 2021 to 31st July 2024 Kottayam
Alleppey
CIN: U67100MH2008PTC185564
Trivandrum

Disclaimer:
This presentation has been prepared by Equirus Capital Pvt. Ltd. (Equirus) for restricted distribution. No representation or warranty, either expressed or implied, is made nor responsibility of any kind is accepted by Equirus Group company, its directors or
employees either as to the accuracy or completeness of any information stated in this document. Neither Equirus nor any of its affiliates and/or their directors, officers, employees shall in any way be responsible or liable for any losses or damages
whatsoever which any person may suffer or incur as a result of acting or otherwise relying upon anything stated or inferred in or omitted from this presentation.
Opinions and projections found in this presentation reflect our opinion as of the presentation date and are subject to change without notice. This presentation is neither intended nor should be considered as an offer or solicitation, or as the basis for any
contract, for purchase of any security, loan or other financial instrument.