Introduction to Scient Capital

■ SECTION I Scient Capital – Vision & Mission■ SECTION II Why choose India as an Investment Destination■ SECTION III Scope for Alternate Asset Management in India■ SECTION III Why Partner with Scient Capital■ SECTION IV Our Product Pipeline■ SECTION V Board of Directors■ SECTION VI The Investment Management Team & Track Record■ SECTION VII Risk Management■ SECTION VIII Contact Information■ SECTION IX Disclaimer

Table of contents

SECTION I

Our Vision & Mission

INNOVATIONTo differentiate through high degree of

innovation and skills

CLIENT FOCUSTo tap the growth in retail investor

participation & develop capabilities to tap in to the overseas interest in India

RISK MANAGEMENTTo ensure that risk is constantly

monitored and mitigated / managed effectively

EFFICIENT OPERATIONSTo stay nimble and efficient with the ability to move quickly to have quick

response & turnaround times

VISIONTo be a multi product alternate assets management company, focusing on creating niche products and market making for emerging asset classes

MISSIONTo deliver superior risk adjusted returns while adding significant diversification to Investor portfolios

Scient Capital is a boutique alternate asset management platform which has been created to meetthe growing needs of Indian and Global investors who need an increasingly sophisticated set ofinnovative products to meet their investment mandates.

Our vision and mission

SECTION II

Why choose India as an Investment Destination

The improvement in India’s economic fundamentals has accelerated in the year 2015 with the combined impact: Strong Government Reforms Monetary Policy Loosening Benign global commodity prices supporting India’s current account

India – facts for the year 2015

Improvement in Economic Growth

India’s economy has witnessed a significant economic growth in the recent past with GDP growing by 7.3 per cent in FY2015 as against

6.9 per cent in FY2014.

Foreign Direct Investment at Record High

Owing to increased investor confidence, net Foreign Direct

Investment (FDI) inflows touched a record high of US$ 34.9 billion in

2015 compared to US$ 21.6 billion

in the previous fiscal year.

Net FII Inflow at Record High

FII’s net investments in India have touched record highs, backed by

expectations of an economic recovery, falling interest rates and improving earnings outlook. FIIs have invested a net of US$ 89.5

billion in 2014-15 — expected to be their highest investment in any

fiscal year.

The International Monetary Fund (IMF) has retained expectations of India's growth at 7.5 per cent for both FY 2016-17 and FY 2017-18 thus expressing confidence in India’s potential for high growth, contrary to its expectations for global economic growth which has been cut.

India is expected to be the fastest growing large economy in 2016-17 with growth rates of 7.3 per cent in 2016 and 7.5 per cent in 2017, as per the United Nations.

India – the road ahead

Improved Investor Confidence

Lower Food Prices & Benign Global Commodity Prices

Better Policy Reforms

India is set to continue as the world’s fastest-growing major economy ahead of China

SECTION III

Scope for Alternate Asset Management in India

SEBI Alternative Investment Funds Regulations, 2012 are a set of regulations

introduced by SEBI to regulate pooled investment funds in India, such as real estate,

private equity and hedge funds.

Accelerated Growth expected with the increasing Government Focus:

■ An advisory panel set up by SEBI, headed by NarayanMurthy has suggested a slew of tax reforms and changes inexisting laws to facilitate capital-raising by alternativeinvestment funds (AIFs) and boost entrepreneurship in Jan-16.

■ As per SEBI, AIF and angel investments are typically longterm and create new enterprises and jobs and hence should beprovided favourable terms for operation.

■ In order to create more domestic channels of investments intothe AIF space, the panel said all banks, pensions, providentfunds, insurance companies and charitable endowments mustcreate an internal management system and utilize a minimumof 2-5% of the corpus to invest in Sebi-approved funds. Alsothe National Pension System and the Employee ProvidentFund Organization should allocate up to 3% of their assets toalternate assets by 2017, rising to 5% by 2020, the panelrecommended.

Steady Growth achieved since SEBI AlternateInvestment Fund Regulations, 2012:

• Alternative Investment Managers raised capitalcommitments worth USD$ 3.4 billion fromaffluent Indian investors till the end of Dec-15,compared to USD$ 1.8 in the previous year

• Investments have doubled in this space,outpacing traditional investment vehicles such asmutual funds and market-linked insuranceproducts.

• Local alternative fund managers, includingprivate equity (PE) and venture capital (VC)funds, have followed their overseas counterpartsin pouring money into Indian technology and e-commerce start-ups, triggering a boom in early-stage investments

SECTION IV

Why Partner with Scient Capital

Highly Innovative & Differentiated Products

Our Pedigreed Board of Directors &

Experienced Investment Management Team with Proven Track Record

Effective Foundation for a Robust Investment Philosophy with Sound Risk Culture

Why scient capital

Scient Capital prides itself in its ability to create and distribute highly differentiated investment products. We are currentlydesigning a portfolio of following products with expected launch date in Mar-16:

HIGH YIELD DEBT PORTFOLIO MANAGEMENT SERVICEA PMS scheme which will invest across various types of high yield debt targeting regular income and capitalappreciation with target IRR in the range of 19% - 23%. The portfolio will invest in real estate backed debt, structuredmezzanine debt and securitized debt.

MID YIELD DEBT PORTFOLIO MANAGEMENT SERVICEA PMS scheme targeting IRR of 13% - 14% with regular income pay outs. The portfolio will invest in a portfolio of listedpaper, mostly with "AA" , "A" and "BBB" credit rating.

MULTI ASSET PORTFOLIO MANAGEMENT SERVICEA multi-asset portfolio that seeks to invest in Equity, Debt and Gold through a PMS route, and aims to provide higherreturns than the blended benchmark. There is further allocation into sub-asset classes depending on our views on the same.The portfolio would be reviewed and rebalanced regularly to maintain the asset allocation and the right selection ofproducts.

EARLY STAGE INVESTMENTS & STRUCTURED PRODUCTSWith the Government increasingly focusing on facilitating capital raising in alternative investment funds to boostentrepreneurship, we are currently evaluating early stage investment options either through AIF or PMS routewherein investors would have access to a diversified portfolio of start-ups looking to raise between INR 2 Crs to INR 20Crs and structured products in in niche sectors such as plantations, solar energy, amongst others

Innovative & Differentiated products

Our Board

Disclaimer: This experience pertains not to the transactions involving Scient Capital directly but its director(s) and employee(s)

Swapnil pawar

He has a diverse experience of over 12 years across Strategy Consulting, Investment Advisoryand Asset Management. He has completed his graduation from IIT Bombay in AerospaceEngineering and his Masters in Business Administration from IIM Ahmedabad. He started hiscareer with The Boston Consulting Group in Mumbai in 2004. Here, he worked with clientsacross various industries including BFSI, engineering and technology.

His interests include Macroeconomics, Quantitative Strategies and Corporate Finance. He hasalso authored a book titled ‘Anatomy of Froth – Demystifying the Global Financial Crisis andLessons to Learn’.

Chhavi moodgal

She has 12 years of experience in the Indian financial services industry advising corporates oncapital structuring, fund raising, financial advisory as well as mergers and acquisitions. She hasmarketed fund raising transactions to institutional as well as HNI investors. She has workedwith leading investment banks such as UBS and Kotak Investment Banking. Prior to ScientCapital, Chhavi was Director, Equity Capital Markets at Standard Chartered Bank. Some of theleading transactions which she has advised on include Initial Public Offering (IPO) of BhartiInfratel Limited (~US$750 mn), Qualified Institutional Placement (QIP) of JaiprakashAssociates (~US$100 mn), Global Depository Receipt (GDR) of L&T Limited (~US$400 mn),Acquisition of Micro Inks by Huber Group (~US$375 mn) amongst others. She has an MBAfrom Indian Institute of Management, Ahmedabad.

Scient Capital is fully capitalized and backed by marquee individuals with stellar academic and professional track records. The Board of Directors includes 2 individuals from IIT Bombay, 2 from IIM Ahmedabad and 2 from MIT, Boston.

Our Board

Disclaimer: This experience pertains not to the transactions involving Scient Capital directly but its director(s) and employee(s)

Shashi Borade

Shashi Borade, PhD is a Portfolio Manager at Engineers Gate. He joined the company in June 2015. Prior tojoining Engineers Gate, He was a Vice President in the Quantitative Equities Group at D. E. Shaw (2008-2015), one of the industry’s most successful investment firms over the last 30 years with more than USD 36billion under management. He has direct experience in predictive forecasts, transactions cost modelling, andrisk management. He will develop entirely new systematic trading strategies for the proposed India QuantFund. Dr. Borade earned both his PhD (2008) and Masters (2004) in Electrical Engineering and ComputerScience from Massachusetts Institute of Technology while receiving a Presidential Fellowship. He also holdsa BTech in Electrical Engineering from IIT Bombay (2002) and earned a Silver Medal for the best overallperformance in his graduating class.

Vijay Divi

He is an active trader and wealth manager at his firm VD3 Analytics. He received his B.S., M.E., and Ph.D.at Massachusetts Institute of Technology in the areas of Electrical Engineering and Mathematics. Afteracademics, he joined Bridgewater Associates, a global-macro hedge fund managing over $100B in assets,where he worked on investment models for commercial real estate and optimization methods for portfolioconstruction. He left the fund to start VD3 Analytics, specializing on quantitative momentum-basedinvestments strategies. Dr. Divi is currently based in Los Angeles, CA and always open for exploringinteresting opportunities around the globe.

Kanika khorana

She has worked at the Wealth and Asset management arms of an Indian diversified financial servicesconglomerate for nearly seven years. Her work experience includes setting up and managing variousinvestment products including Alternate Investment Fund (AIF), Portfolio Management Services (PMS),Foreign Institutional Investment (FII) and High yield debt products. She has worked across the structuringand regulatory aspects of all of these investment vehicles and has deep knowledge of investment productmanagement in Indian context. She holds a Masters in Business Administration from IBS, Hyderabad and aBachelors in Engineering from Bharati Vidyapeeth College of Engineering, Pune.

Origination

• Deal sourcing, screening, filtering based on risk assessment

Structuring

• Deal structuring, due diligence, implementation

Execution & Monitoring

• Execute documentation and monitor the transaction on regular basis

Chhavi Moodgal – DirectorShe has 12 years of experience in the Indian financial services industry advisingcorporates on capital structuring, fund raising, financial advisory as well asmergers and acquisitions. Chhavi has worked with leading investment banks suchas UBS and Kotak Investment Banking. Prior to joining Scient Capital, Chhaviwas Director, Equity Capital Markets at Standard Chartered Bank.

Palak Nanjani – VP, ProductsShe has worked at the Wealth and Asset management arms of Karvy StockBroking for nearly 8 years. Her work experience includes setting up investmentproducts like High Yield Debt and managing various products like AlternateInvestment Fund and Investments under Liberalized Remittance Scheme.

Partha Patashani – Manager, ProductsHe has total 6 years of experience across Financial Services and IT sector. Hewas last working as an analyst for a High Yield Debt PMS in Karvy StockBroking which involved handling client portfolios on a day to day basis toprovide a high return and reduce risk and work on various reports in order to takedecision for further investments.

Investment management team

Investment Management Team has a collective track record of over 50 years in the financial services industry across high yield debt, equity fundraising and portfolio management

High Yield Debt: Team Experience

Disclaimer: This experience pertains not to the transactions involving Scient Capital directly but its director(s) and employee(s)

S. No.

Issue Name Geography SectorSize (Rs.

Cr.)Nature of

transaction

Start Tenor (years)

Security cover year

1 Developer in Pune Pune Real Estate 50 Primary NCD 2011 2.5 2 X

Developer in Hyderabad Hyderabad Real Estate 12 Primary NCD 2011 3 3 X

2 Mutual Fund CPO Mumbai Various 1.5Secondary MF

Units2012 3 N/A

3 Developer in Bangalore Bangalore Real Estate 50 Primary NCD 2012 3 2.5 X

4 FMCG Company in Pune Pune FMCG 53 Primary NCD 2013 3 2.5 X

5 Developer in Bangalore Bangalore Real Estate 75 Primary NCD 2013 3 2.5 X

6Food Processing and Agri Business

in BengaluruBengaluru

Food Processing

50 Primary NCD 2014 4 3X

7 Developer in Mumbai Mumbai Real Estate 20 Primary NCD 2014 3 2.5 X

8 Developer in Pune Pune Real Estate 20 Buyback Structure 2014 2 2 X

9IFMR Securitized debt in

microfinanceMumbai Microfinance 2 Secondary PTC 2014 1 N/A

10 Microfinance NBFC Delhi Microfinance 2 Primary CRPS 2014 1 N/A

11 Educational Institute North India Education 25 Primary NCD 2015 4 2.7 X

12 Educational Institute in South India Bengaluru Education 65 Primary NCD 2015 4 2.8 X

13 Microfinance NBFC Chennai Microfinance 2 Primary CRPS 2015 1.5 N/A

Portfolio Management Services: Returns

High Yield Debt Portfolio ReturnMulti Asset Portfolio Return

*Please note that these are not portfolios which are currently managed by Scient Capital Private Limited but portfolios which were managed by the team earlier highlighting their experience. The multi asset also includes back tested performance from April 2009 to December 2010

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Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15

Cumulative Return (in %)

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NAV Growth

Equity Capital Market: Team Experience

S. No. Issue Name SectorSize (In US$

Mn)Year Product

1 Fortis Healthcare Healthcare Services 60 2013Institutional Placement

Program

2 Bharti Infratel Telecom 750 2012 Initial Public Offering

3 Jaiprakash Associates Construction 100 2012Qualified Institutions

Placement

4National Mineral

Development CorporationMining/ Minerals 2200 2010 Follow-on Public Offering

5 United Spirits Beverages and Distilleries 350 2009Qualified Institutions

Placement

6 Larsen and Toubro Conglomerate 400 2007Global Depository

Receipt

7 Mindtree Consulting IT 100 2007 Initial Public Offering

8 Tech Mahindra IT 120 2006 Initial Public Offering

9Micro Inks acquired by

Huber GroupPrinting 375 2005 Sell side Mandate

Disclaimer: This experience pertains not to the transactions involving Scient Capital directly but its director(s) and employee(s)

1. Efficient diversification

2. Economic themes

3. Sectors

4. Companies & groups

Active Risk Mitigation

1. Fundamental research

2. Analytical rigor

3. Margin of safety

4. Management meetings

Research Intensity

1. Capital efficiency

2. Size of opportunity

3. Quality management

4. Capital allocation

Quality Focus

Tenets of our investment philosophy

Risk management

Robust Risk Management and Oversight

Risk Oversight And Governance

Board of Directors

Independent Board of Advisors

Executive Investment Management Team

Risk Management And Facilitation

Risk Areas of Focus 1. Investment 2. Financial 3. Credit 4. Operational 5. Business

Risk Mitigant

• Timely and consistent identification, evaluation, and mitigation of operational and business risk

• Senior executives from all major business functions Including: Investment Management Product Management Portfolio Operations Legal and Compliance Strategy Finance and Internal Audit• Independently reviews investment execution and process

application

Internal Control Facilitate and monitor internal control at all levels

Contact Information

Scient Capital Private Limited

Level 9, Platina C 59, G Block,

BKC, Bandra (East),

Mumbai: 400051

E-mail: info@scientcap.com

Phone: 022 6700 0776

Disclaimer

Scient Capital Private Limited (Scient), is a private limited firm registered as on 15th October 2015. Scient intents to provide services of Alternate

Asset management for Principle Strategies, consulting, advisory and product manufacturing. This presentation contains views of Scient. While the

opinions and data quoted is believed to be reliable, accurate and complete, no independent verification of the same has been done by Scient.

Scient is under no obligation to update or keep the information in the presentation current. This presentation and information herein is solely for

informational purpose and may not be used or considered as an offer document or to buy the NCD or to avail any service. This presentation and

information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to,

copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of Scient

Past performance is not necessarily a guide to future performance. Scient or any person connected with it accepts no liability whatsoever for the

content of this presentation, or for the consequences of any actions taken on the basis of the information provided therein or for any loss or

damage of any kind arising out of the use of this presentation. Scient takes no responsibility/liability whatsoever for deficiency in or non-

fulfillment of the service/s by the Issuer. Nothing in this presentation constitutes investment, legal, accounting and tax advice or a representation

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worldwide may from time to time, be engaged in any other transaction involving such securities/commodities and earn brokerage or other

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