5,691,620 Equtiy Shares of Valiant Laboratories Limited are subject to a Lock-Up Agreement Ending on 6-APR-2024. These Equtiy Shares will be under lockup for 186 days starting from 3-OCT-2023 to 6-APR-2024.

Details:
Pursuant to Regulation 14 and 16 of the SEBI ICDR Regulations, an aggregate of at least 20% of the post-Issue Equity Share Capital of our Company held by our Promoters shall be considered as Promoter?s Contribution ("Promoter?s Contribution") and shall be locked-in for a period of three (3) years from the date of Allotment. The Promoters? shareholding in excess of 20% of the post-Issue Equity Share capital shall be locked in for a period of one (1) year from the date of Allotment. The lock-in of the Promoter?s Contribution would be created as per applicable law and procedure and details of the same shall also be provided to the Stock Exchanges before listing of the Equity Shares.

In terms of Regulation 16(1)(b) and 17 of the SEBI ICDR Regulations, the Promoters? holding in excess of minimum Promoters? contribution will be locked in for one (1) year and the entire pre-Issue equity share capital of our Company held by persons other than the Promoters will be locked-in for a period of six months from the date of Allotment in the Issue, except (a) the promoter?s contribution which shall be locked in as above; and (b) the Equity Shares which may be allotted to the employees under the ESOP Scheme pursuant to exercise of options held by such employees (whether currently employees or not).