6,996,838 Equity Shares of Indong Tea Company Limited are subject to a Lock-Up Agreement Ending on 28-FEB-2024. These Equity Shares will be under lockup for 377 days starting from 16-FEB-2023 to 28-FEB-2024.

Details:
Pursuant to Regulation 236 of SEBI (ICDR) Regulations 2018, minimum promoters? contribution should be not less than 20% of the post Issue equity share capital of the Company. Further, in terms of Regulation 238(a) of SEBI ICDR Regulations, minimum promoter?s contribution will be locked-in for a period of three years from the date of Allotment or date of commencement of commercial production, whichever is later and the Equity Shares held by Promoter of the Company in excess of minimum promoter?s contribution will be locked-in for a period of one year from the date of Allotment.

An aggregate of minimum 20% of the post-issue capital, held by the Promoters, i.e. 30,00,210 equity shares, shall be considered as Promoter?s Contribution (?Minimum Promoter?s Contribution?) and locked-in for a period of three years from the date of allotment. Promoters have granted their consents to include such number of Equity Shares held by them as may constitute minimum 20% of the post-issue Equity Share Capital of the Company as Promoter?s Contribution and have agreed not to sell or transfer or pledge or otherwise dispose of in any manner, the Promoter?s Contribution, until the completion of the lock-in period specified above.

In excess of minimum 20% of the Post-Issue shareholding of the Company held by the Promoter (locked in for three years as specified above), the balance pre-issue share capital of the Company held by promoters, i.e. 69,96,838 equity shares, shall be locked in for a period of one year from the date of Allotment in this Issue as provided in clause 238(b) of SEBI (ICDR) Regulations 2018.

Further, in terms of Regulation 239 of SEBI ICDR Regulations, entire pre-Issue equity shares capital of the Company held by persons other than its Promoter will be locked-in for a period of one year from the date of Allotment in the Issue.