Monitoring Agency Report

Date: 12.08.2026 To, To, The Manager The Manager, Listing Department Listing Department BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot C/1, Dalal Street, Mumbai-400 001 G Block, Bandra-Kurla Complex BSE Code: 544732 Mumbai – 400 051. NSE Code: INNOVISION Sub: Monitoring Agency Report for the quarter ended June 30, 2026 Dear Sir/Madam, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed herewith Monitoring Agency Report dated 12th August 2026 issued by CRISIL Ratings Limited, in respect of utilization of Initial Public Offer (IPO) of the company for the quarter ended June 30, 2026. The draft of the above mentioned report has been duly reviewed by the Audit Committee at its meeting held on 12.08.2026. This is for your information and record. Thanking you, Yours sincerely, For, Innovision Limited Ms. Jyoti Sachdeva Company Secretary & Compliance Officer Membership No.: A22176 INNOVISION LIMITED ISO 9001: 2008 | ISO/IEC 27001: 2005 | ISO 14001:2015 | OHSAS 18001:2007 | CIN NO. U74910DL2007PLC157700 Corp. Office: Plot No 251, 1st Floor, Udyog Vihar, Phase 4, Gurugram-122015, Haryana. | Regd. Office: 1/209, First Floor Sadar Bazar, Delhi Cantt Delhi-110010 0124-4387354/2341602, | 0124-2340186, | info@innovision.co.in, | www.innovision.co.in Monitoring Agency Report Innovision Limited for the quarter ended June 30, 2026 CRL/MAR/ INVILI/2027-28/1875 August 12, 2026 Innovision Limited 1/209, First Floor, Sadar Bazar, Delhi Cantt, Delhi, India – 110 010 Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Initial Public Offer (“IPO”) of Innovision Limited (“the Company”) Pursuant to Regulation 41(2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated October 07, 2025, enclosed herewith the Final Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of IPO for the quarter ended June 30, 2026. Request you to kindly take the same on records. Thanking you, For and on behalf of Crisil Ratings Limited Shounak Chakravarty Director, Ratings (LCG) Report of the Monitoring Agency (MA) Name of the issuer: Innovision Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Not applicable (b) Range of Deviation: Not applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit-related analyses. We confirm that we do not perceive any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer. We have submitted the report herewith in line with the format prescribed by SEBI, capturing the comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name and designation of the Authorized Signatory: Shounak Chakravarty Designation of Authorized person/Signing Authority: Director, Ratings (LCG) 1) Issuer Details: Name of the issuer: Innovision Limited Names of the promoter: Mr. Randeep Hundal Mr. Uday Pal Singh Industry/sector to which it belongs: Road Assets–Toll, Annuity, Hybrid-Annuity 2) Issue Details Issue Period: Tuesday, March 10, 2026, to Tuesday, March 17, 2026 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 3,192.52 million (Fresh issue - Rs 2,550.00* million and OFS of Rs 642.52 million) *Note: Particulars Amount (Rs. million) Gross proceeds of the Fresh Issue 2,550.00 Less: Issue Expenses 452.01 Net Proceeds 2,097.99 #Crisil Ratings shall be monitoring the net proceeds. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ Comments of the Comments certifications considered Particulars Reply Monitoring of the Board by Monitoring Agency Agency of Directors for preparation of report Proceeds are Statutory Auditor utilised towards certificate^, Management working capital Whether all utilization is as per the undertaking, Prospectus requirements and No disclosures in the Offer Yes (hereinafter referred as General Corporate Comments Document? “Offer Document”) dated Purposes as March 17, 2026, Bank disclosed in the Statements prospectus Whether shareholder approval Statutory Auditor has been obtained in case of certificate^, Management No material deviations from NA No Comments undertaking Comments expenditures disclosed in the Offer Document? Source of information/ Comments of the Comments certifications considered Particulars Reply Monitoring of the Board by Monitoring Agency Agency of Directors for preparation of report Whether the means of finance for the disclosed objects of the issue NA No Comments No has changed? Comments Is there any major deviation observed over the earlier NA No Comments Comments monitoring agency reports? Statutory Auditor certificate^, Management undertaking Whether all Government/statutory approvals No NA No Comments related to the object(s) have been Comments obtained? Whether all arrangements pertaining to technical No NA No Comments assistance/collaboration are in Comments operation? Are there any favorable events improving the viability of these NA No Comments Comments object(s)? Are there any unfavorable events affecting the viability of the No No Comments Comments object(s)? Is there any other relevant information that may materially No No No Comments affect the decision making of the Comments investors? NA represents Not Applicable ^Certificate dated July 31, 2026, issued by M/s S R G A & Co., Chartered Accountants (Firm Registration Number: 011984N), Statutory Auditors of the Company. 4) Details of object(s) to be monitored: i. Cost of the object(s): Source of Original Comments of the Board of Directors information/ cost Revised Comment Sr. certification (as per the Cost of the No Item considered by Offer Particulars (Rs in Monitoring . Head MA for Document) Reason of Proposed of firm million) Agency preparation of (Rs in Cost financing arrangeme report million) revision option nts made Repayment or pre-payment, in part or full of No No No 1 all or certain 510.00 NA No revisi [Showing first 8,000 characters — download PDF for full document]