Updates

306-307, ‘AT’ Ph.: +91 22 4515 5887 Mahakali Caves Road E-mail: info@sundaecapital.com Andheri (East), Mumbai - 400 093 www.sundaecapital.com Sundae Capital Advisors Private Limited CIN: U65990DL2016PTC305412 September 01, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, Block -G Corporate Relationship Department, Bandra Kurla Complex Bandra (East), Mumbai - P.J. Towers, Dalal Street 400 051 Mumbai - 400 001 Sub.: Update on the Open Offer given by Marwadi Chandarana Intermediaries Brokers Private Limited (“Acquirer”) to the shareholders of Trucap Finance Limited (“Target Company”) Dear Sir/Madam, This is in continuation to the advertisement published by the Acquirer in newspapers on September 25, 2025 in relation to the termination of (i) the Share Purchase Agreement (“SPA”) for acquisition of 3,68,00,220 equity shares of the Target Company from the promoter and promoter group, and (ii) the Securities Subscription Agreement (“SSA”) for subscription of 11,56,80,000 equity shares and 9,37,00,000 convertible warrants of the Target Company by the Acquirer. Simultaneously, the Acquirer had also requested SEBI to allow withdrawal of the Offer in terms of Regulation 23 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The request of the Acquirer was not acceded to by SEBI, pursuant to which SEBI issued its observations on the Draft Letter of Offer vide its letter dated January 30, 2026. The Acquirer thereafter filed an appeal before the Hon’ble Securities Appellate Tribunal (“Hon’ble SAT”) on February 08, 2026. Vide its order dated July 08, 2026, the Hon’ble SAT set aside the directions contained in SEBI’s communication dated January 30, 2026 and directed SEBI to pass a speaking order. Pursuant thereto, SEBI issued its observations on the Draft Letter of Offer vide its letter dated August 20, 2026. The Acquirer has filed a further appeal before the Hon’ble SAT on August 31, 2026, which is listed for hearing on September 07, 2026. As on the date of this intimation, no stay has been granted on the Offer proceedings. In the event of stay granted or any change in the Offer process, schedule, or obligations pursuant to any order or direction passed by Hon’ble SAT, appropriate disclosures shall be made in accordance with applicable law. Thanking you, Yours sincerely, for Sundae Capital Advisors Private Limited Chirag Pareek Manager Regd. O ffice: 1177, 11th Floor, VEGAS, Plot No. 6, Sector 14 (North), Dwarka City Centre, New Delhi - 110 075; Tel.: +91 11 6134 0375 SEBI Regn. No.: INM000012494