Monitoring Agency Report

1nd1a ¢ Nippon Life Asset Management Ltd July 22, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Dalal Street, Fort, Plot No. C/1, G Block, Bandra Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai 400 051 BSE Scrip Code: 540767 NSE Scrip Symbol: NAM-INDIA Dear Sir(s), Sub.: Monitoring Agency Report for the quarter ended June 30, 2026 In accordance with the Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, enclosed is the Monitoring Agency Report in respect of the utilisation of the proceeds of the IPO for the quarter ended June 30, 2026, issued by HDFC Bank Limited, the Monitoring Agency appointed by the Company. Kindly take the same on record. Thanking you, Yours faithfully, For Nippon Life India Asset Management Limited Valde Varghese Company Secretary & Compliance Officer Encl: a/a KINCENTRIC) Nippon Life Indio Asset Management Limited Best Employer 30th nnnr, ('J'tP. IQ!'lhO PIO::ft'!, :~1mp:1d fklpot MOff),L0'\\11,rf'<He~ Mun-•bal-400013, MohomshU'C1 I CIN: L65910MH1995f'LC"'.t2CiOS ld ~C22~0P, 7000l 1-nK~ 022-8$08-7097 201'; 1201812011120211-20~21~02:l Finnu : lll\l\1!;"torrr:1otbn,tn~pon1no1oan.com I Woh~tc: nnp~J/ mr.nir.ponlnrtln!rnc:om ~ HDFC BANK HDFC Bank Limited I -Think Tcchno Campus. Opp Crompton Greaves, Nr Kanjur Marg Rly Station, Mumbai, Maharashtra -400 042. SCHEDULE IX MONITORING REPORT NAME OF THE MONITORING AGENCY: HDFC Bank Limited MONITORING REPORT FOR THE QUARTER ENDED: June 30, 2026 (1) Name of the Issuer: Nippon Life India Asset Management Limited ex) Deviation from the Objects: Not App'licable ~) Range of Deviation: Not Applicable Declaration: We hereby declare that this report is based on the format as prescribed by SEBI (ICDR) ,Regulation, 2018, as amended. I/We further declare basis the certificaHon issued by the statutory auditor of the company that this report provides true and fair view of the utilization of issue proceeds. We declare that we do not have any direct / indirect interest in or relationship with the Issuer/promoters/directors/management and also coofirm that we do not perceive any conflict of interest ~n such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer. Signature: Name of the Authorized Person/Signing Authority: Tushar Gavankar Designation of Authorized person/Signing Authority: Vice President Seal of the Monitoring Agency: Date: 15.07.2026 Q/KAi· r,·,A ,'..\ (EA www.hdfcbank.com Regd. Office: HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai -400 013 Corporate Identity No.: L65920MH 1994PLC080618 1. Issuer Details: Name of the issuer Niooon Life India Asset Manaaement Limited ~he names of the promoters of the ssuer Nippon Life Insurance Company Industry/sector to which it belongs Asset Management Industry I 2. Issue Details: Issue Period October 25, 2017, to October 27, 2017 Type of issue (public/rights) Initial Public Offerina Tvoe of soecified securities Eauitv Shares Gradina NA Rs. 1542.24 Crores (Fresh Issue: Rs. 616.90 Crores Offer for Issue size Sale: Rs. 925.34 Croresl 3. Details of the arrangement made to ensure the monitoring of issue proceeds: (Give item by item description for all the objects stated in offer document separately in following format) Particulars Reply Objects General corporate purposes (Including IPO related ex- penses) Comment Comments Comment Comments of of Monitor- of Board of of Mani- Board of Direc- ing Agen- Directors taring tors CV Aaencv Whether all the utilization is Yes/ Yes(•) Yes NA Yes as per disclosure in Offer No Document? Whether Shareholder ap- Yes/ NA(•) NA NA NA proval is obtained in case of No material deviations# from ex- penditures disclosed in Offer Document? Whether means of finance Yes/ NA No NA No for disclosed objects of the No Issue has chanced? Any major deviation ob· Yes/ NA NA NA NA served over the earlier moni• No torina aaencv reoorts? Whether all Government / Yes/ NA Yes wher- NA Yes wherever ap· Statutory approvals related No ever appli- plicable to the obiect<sl obtained? cable Whether all arrangements Yes/ NA NA NA NA pertaining to technical assis- No tance/collaboration in opera- tion? Any favorable events improv- Yes/ No No No No ina obiect(s) viabilitv No Any unfavorable events al• Yes/ No No No No fectina obiectlsl viabilitv No Any other relevant inlonna- Yes/ No No No No lion that may materially al• No feet the decision making of the investors (*)Asper the Prospectus, the issuer company had estimated utilization of IPO proceeds during Fiscal year 2019, 2020 & 2021. Further, the prospectus also mentioned that "in case the Net Proceeds are not completely utilized in a scheduled fiscal year due to any reason, the same would be utilized (in part or full) in the next fiscal year/ subsequent period as may be determined by our company, in accordance with applicable law, the object wise unutilized amount as of end of June 2026 is disclosed in clause 4(i) below. 4. Details of obiect(s) to be monitored: Cost of object(s) - SI. No Item Original Revised Head Cost (as per Cost Offer Document) (Rs. in Crores) (Rs. in Crores) 1 Setting up new branches and relocating certain existing branches 38.31 38.31 2 Uooradina the IT svstem 40.65 40.65 3 Advertisina, marketina and brand buildina activities 72.09 72.09 Lending to Subsidiary (Nippon AIF) for investment of continuing interest in 125.00 125.00 the new AIF schemes manaaed bv Ninnon AIF Investing towards our continuing interest in new mutual fund schemes 100.00 100.00 manaoed bv them 6 Funding in orQanic orowth and strategic initiatives 165.00 165.00 7 General Corporate purpose 44.06 47.80 Total 585.11 588.85 (i) Progress in the object(s)- (amount in Crores) S I. Item Head Net Proceeds *Amount utilized Total unutilized No. 8S DerlPO Amount Asat During At the Beginning end the of the of quarter quarter auarter 1 38.31 14.14 0.71 14.85 23.46 Setting up new branches and relocating certain existing branches 2 40.65 40.65 0.00 40.65 0.00 Upgrading the IT system 3 72.09 72.09 0.00 72.09 0.00 Advertising, marketing and brand building activities 4 Lending to Subsidiary (Nippon AIF) for 125.00 125.00 0.00 125.00 0.00 investment of continuing interest in the new AIF schemes managed bv Niooon AIF 5 Investing towards our continuing interest in 100.00 100.00 0.00 100.00 0.00 new mutual fund schemes manaoed bv them 6 Funding inorganic growth and strategic 165.00 0.00 0.00 0.00 165.00 initiatives 7 General Corporate purpose 47.80 47.80 0.00 47.80 0.00 588.85 399.68 0.71 400.39 188.45 Total (u) Deployment of unutilized IPO proceeds- SI. Type of instrument Amount Maturity date **Earnings Return on No. where amount invested invested Accrued interest Investment (ROI (Rs. In as on 30" June, %) Crores) 2026 (Rs. In Crores) 1 Fixed Dennsits with HDFC Bank 179.16 Auoust27 2026 3.35 7.50% HDFC Bank 9.29 September 29, 0.00 5.90% 2026 2 Bank Balance with *HDFC Bank- ... ... 0.00 .. . 57500000094673 (Monitoring Agency Ale) ... .. . . .. HDFC Bank- -- 57500000091855 'Public lssue Account\ ... . .. Total 188.45 •A mounts in Rs Crores are rounded off to nearest lakhs rupees. **The Amount reflected as •o· are values with less than Rs 1 lakh. **Market Value of Fixed Deposit excludes interest accrued but not yet received (i) Delay in implementation of the object(s)· Object(s) Completion Date Delay (No. of days/months) Name I As per Offer Document Actual No such delavs observed (*) (')Asper the Prospectus, the issuer company had estimated utilization of IPO proceeds during Fiscal Year 2019, 2020 & 2021. Further, the prospectus also mentioned that "in case the Net Proceeds are not completely utilized in a scheduled fiscal year due to any reason, the same wou [Showing first 8,000 characters — download PDF for full document]