Disclaimer

This website contains details of products and/or services that Nuvama Wealth Management Limited (“Nuvama”) or its subsidiaries/affiliates/group (hereinafter referred to as “Nuvama Group”) offer or propose to offer in due course. The services, which are offered, may vary from time to time and are at the sole discretion of Nuvama Wealth Management Limited or its subsidiaries/affiliates/group, subject to regulatory approvals, as required.

The information and material contained in the web site have been updated on a “best effort” basis and are provided on an ‘as is’, ‘as available’ basis. Nuvama Group does not warrant the accuracy, adequacy or completeness of this information and material and expressly disclaims liability for errors or omissions in this information and material. No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third-party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information and materials.

Nuvama Group, may at any time edit, alter and or remove any information in whole or in part that may be available on this website and that it shall not be held responsible for all or any actions that may subsequently result into any loss, damage and or liability. The information provided on this website does not, and is not intended to, constitute any investment advice or endorsement; instead, all information, content, and materials herein are for general informational purposes only. Nuvama advises its users to verify the veracity / appropriateness of the information before taking any decisions based on any information posted on this website

Nuvama Wealth Management Limited (Nuvama)

formerly known as Edelweiss Securities Limited

Nuvama is regulated by the Securities and Exchange Board of India (“SEBI”) and is licensed to carry on the Business of Stock Broking, Investment Adviser, Research Analyst and related allied activities for which Nuvama is registered with various regulators. The Nuvama Wealth Management Limited 8th floor, Inspire BKC, G Block, BKC Main Road, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
Name of the Compliance officer: Mr. Atul Bapna, Contact number ;022-66233478;
E-mail address: complianceofficer.nwm@nuvama.com.

Nuvama is a Member of National Stock Exchange of India Ltd (Member Code:11933), BSE Ltd (Member Code :121), Metropolitan Stock Exchange of India Limited (Member Code:1036), Multi Commodity Exchange of India Limited (Member Code: 57055 and National Commodity & Derivatives Exchange Limited (Member Code:1306) and having SEBI registration no. INZ000166136. Investments in securities market are subject to market risks, read all the related documents carefully before investing. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advisors, as they believe necessary.

Nuvama is in the business of Investment Advisory since December 2019. It is registered with SEBI as an Investment Adviser (SEBI registration number INA000018364) and with AMFI (ARN- 3857). In its capacity as Investment Adviser, Nuvama is providing advice to clients on the portfolio of client and does not provide advice for any particular securities/stocks or derivatives. Nuvama may or may not hold any position with regard to the any stock/security or derivative which is held by the client. Nuvama hereby mentions that there is no obligation on the client of Nuvama’s Investment Advisory division to execute any transaction through Nuvama or any other company of Nuvama group in any manner.

The documents/reports available on the Website does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Nuvama and its group companies, directors, employees, affiliates and associates shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. This document is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved) and should consult his own advisors to determine the merits and risks of such investments. The investment discussed or views expressed may not be suitable for all investors. Mutual Fund Investments are subject to market risk. Kindly read the offer document / schemes document carefully before making an investment.

Nuvama is registered with SEBI as a Research Analyst since March 2015 and having SEBI Registration No. INH000011316. The information analysis given in the research reports is purely an interpretation / view of the author and Nuvama group or its directors, employees shall not be liable or responsible in any manner whatsoever for the trades executed by the customers on the basis of these reports. The documents/reports/research analysis are provided for assistance only and is not intended to be and must not alone be taken as the basis for any decision. The Research documents have been prepared by Nuvama and is meant for sole use by the recipient and not for redistribution or circulation. The user assumes the entire risk of any use made of this information. Neither Nuvama nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein.

Disclaimers for our services

Nuvama Wealth and Investment Limited (NWIL), formerly known as Edelweiss Broking Limited, is a 100% subsidiary of Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited). Registered office of NWIL is at 8th Floor, 801-804, Wing A, Building No. 3, Inspire BKC, G Block, Bandra Kurla Complex, Bandra East, Mumbai 400051. Contact: (079) 40019900. Corporate Office address is Eight Floor 801 to 804, Inspire BKC G Block, BKC Main Road, Bandra Kurla Complex, Bandra East, Mumbai – 400051. It is a Member of National Stock Exchange of India Ltd (Member Code: 13116), BSE Ltd (Member Code :3261), Multi Commodity Exchange of India Limited (Member Code :56520), Metropolitan Stock Exchange (Member Code :86100) and National Commodity and Derivatives Exchange Limited (Member Code :01279) and having SEBI registration no. INZ000005231. Depository Participant SEBI Registration No.: IN-DP-656-2021 with NSDL having DP ID: IN302201 & IN303719 and with CDSL having DP ID: 12032300. Research services are offered by NWIL under SEBI Registration No. INH000011103. Name of the Compliance officer: Mr. Srijith Menon, E-mail address: complianceofficer.nwil@nuvama.com. NWIL has surrendered its PFRDA Point of Presence (PoP) registration w.e.f December 20, 2022. Investments in securities market are subject to market risks, read all the related documents carefully before investing.

The contents herein shall not be considered as an invitation or persuasion to trade or invest. NWIL and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Please note Brokerage would not exceed the SEBI prescribed limit. NWIL also acts in the capacity of distributor for Products such as PMS, OFS, Mutual Funds, IPOs and/or NCD etc. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.

NWIL also acts in the capacity of distributor of Edelweiss Mutual Fund and other AMCs under AMFI Registration Number – 70892 and in capacity of a Corporate Agent; registered with IRDA having Licence number: CA0131. Mutual Fund Investments are subject to market risks. Please read all scheme related documents carefully before investing. Investment in the securities involves risks. The user is required to undergo risk profiling before investing. Guided view is indicative in nature and is based on the information provided by the user voluntarily. Each user of this information should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred here (including the merits and risks involved) and should consult his own advisors to determine the merits and risks of such investment. Past performance is not necessarily a guide to future performance.

Trading Accounts would be open after all procedure relating to client registration, IPV and client due diligence is completed. Margin Trading facility is offered by NWIL in terms of the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in rights and obligations statement issued

For any grievance relating to Stock Broking/ DP operations, please call 040-41151621 or write to helpdesk; Email ID: helpdesk@nuvama.com (for trading related) and dpservicesnwil@nuvama.com (for demat related).

Nuvama Clearing Services Limited (“NCSL”), (formerly known as Edelweiss Custodial Services Limited) is a wholly owned subsidiary of Nuvama Wealth Management Limited (Nuvama). NCSL offers Professional Clearing Member (PCM) Services under SEBI Registration No.: INZ000177437. Nuvama Wealth Management Limited 8th floor, Inspire BKC, G Block, BKC Main Road, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051; Tel. no.: 40885703; Name of Compliance Officer: Mr. Bhoumik Mehta; Email id: ncsl.compliance@nuvama.com.

Nuvama Wealth Finance Limited (NWFL) (formerly known as Edelweiss Finance & Investments Limited)is a 100% subsidiary of Nuvama Wealth Management Limited (Nuvama). NWFL is registered as Systemically Important Non-Banking Financial Company not accepting public deposits with the Reserve Bank of India bearing certificate no. B-13. 02144. It provides capital market funding and offer products like loans against securities which inter-alia includes ESOP financing, Margin Trade Financing, IPO financing etc. It also provides unsecured loan and is also engaged in the business of Trading and Investment in securities.

The Nuvama Wealth Management Limited 8th floor, Inspire BKC, G Block, BKC Main Road, Bandra Kurla Complex, Bandra (E), Mumbai- 400 051.

For any customer grievance related matter, please reach out to nwfl.grievancecell@nuvama.com.

Nuvama Custodial Services Limited (NCUSL) is registered as a Custodian and Designated Depository Participant with SEBI bearing registration no. IN/CUS/027 and Depository Participant with NSDL bearing registration no. IN-DP-585-2021. It offers an integrated suite of services across asset classes in custody and related activities and caters to Institutional clients such as Foreign Portfolio Investors (FPIs), Mutual Funds, Alternate Investment Funds, Portfolio Management Services, Domestic Brokers, Corporate Treasuries and High Net-worth Individuals (HNIs). The Nuvama Wealth Management Limited 8th floor, Inspire BKC, G Block, BKC Main Road, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051. Name of the Compliance officer: Mr. Manish R. Jain, Contact number: 022-40407522, E-mail address: ncusl.compliance@nuvama.com

Nuvama Capital Services (IFSC) Limited (“NCSL-IFSC”) (formerly known as Edelweiss Securities (IFSC) Limited) is having its registered office in GIFT SEZ located in GIFT City, Gandhinagar, Gujarat. GIFT SEZ is Multi-services SEZ and GIFT City India’s first International Financial Services Center. The Company is a wholly owned subsidiary of Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited). The Company holds a certificate of registration with Securities and Exchange Board of India (SEBI) as Trading member and Clearing member as well. Nuvama Capital Services (IFSC) Limited is engaged in providing services related to trades executed on the India International Exchange (IFSC) Limited (India INX) and NSE IFSC Limited. Nuvama Capital Services (IFSC) Limited is registered as Trading cum Clearing Member (TCM) with both of these international stock exchange.

Nuvama Asset Management Limited (“NAML”) (Formally known as ESL Securities Limited) is registered with Securities and Exchange Board of India as a Portfolio Manager vide Registration Number INP000007207. It also provides Investment Management Services to Category II and Category III – Alternative Investment Funds. Its Nuvama Wealth Management Limited 8th floor, Inspire BKC, G Block, BKC Main Road, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051. Corporate Identity No of ESLSL is U67190MH2019PLC343440. NAML is a wholly owned subsidiary of Nuvama Wealth Management Limited (Nuvama).

Nuvama Investment Advisors Private Limited “NIAPL” (Previously Edelweiss Investment Advisors Private Limited) is, a Singapore incorporated subsidiary of Nuvama Wealth Management Limited “NWML”, a Capital Markets Services Licensee “CMSL” entity in Singapore bearing licensed number CMS100461 and a regulated by the Monetary Authority of Singapore “MAS” since 2014. As part of its licensing condition, NIAPL is allowed to provide Custodial Services, deal in Capital Market Products & advising on Investment Products (Securities, Collective Investment Scheme, Exchange-Traded Derivatives Contracts) (Securities, Collective Investment Scheme, Exchange-Traded Derivatives Contracts) , Issuing or Promulgating Analyses/Reports on Investments (Products include Securities and Exchange Traded Derivatives Contracts) and deal with Accredited Investors and Institutional Clients in Singapore. As per license conditions, NIAPL does not hold client assets.

Nuvama Group or any of their respective directors, employees or representatives do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information or any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way from the information contained in this website. Whilst no action has been solicited based upon the information provided herein, due care has been taken to ensure that the facts are accurate, and opinions given are fair and reasonable. The information contained on the website is not directed or intended for distribution to or use by any person or entity who is a citizen or resident of or located in locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to local law, regulation or which would subject the said entities and its affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdiction or certain categories of investors. Persons in whose possession this document are required to inform themselves of and to observe such restrictions.

The content of the website IS INTENDED SOLELY TO PROVIDE INFORMATION ONLY TO THE INSTITUTIONAL OR ACCREDITED INVESTORS ONLY AND IS NOT MEANT FOR RETAIL INVESTORS AS DEFINED UNDER THE SECURITIES AND FUTURES ACT “SFA”. If you are not the intended recipient you must not copy, distribute, or take any action or place reliance on it. If you have received this communication by error, please notify the sender immediately. Any such information contained or discussed in the document is subject to change and Nuvama and its group companies shall not have any responsibility to maintain the information made available or to supply any correction therewith. In no event will Nuvama and its group companies be liable for any special direct or indirect or consequential damages which may be incurred from the use of the information made available, even if it has been advised of the possibility of such damages. The company and its employees mentioned in these communications cannot be held liable for any error’s inaccuracies and/or omission howsoever caused. Any opinion or advice if any herein is made on a general basis and is subject to change without notice. The information provided in this document may contain optimistic statements regarding future events or future financial performance of countries, markets, or companies. You must make your own financial assessment of the relevance, accuracy and adequacy of the information provided if any in this document. This document has not been reviewed by the Monetary Authority of Singapore “MAS”.

Nuvama Investment Advisors (HongKong) Private Limited “NIAHK” (Previously Edelweiss Securities (Hong Kong) Private Limited) is a Hong Kong incorporated subsidiary of Nuvama Wealth Management Limited “NWML”, a Licensed Corporation “LC” entity in Hong Kong bearing licensed and a regulated by the Securities and Futures Commission, Hong Kong “SFC” bearing license number BOM874 since April 2020. NIAHK is registered and regulated by the Securities and Futures Commission “SFC” to carry out Type 1 (Dealing in Securities) Type 2 (Dealing in Futures Contract), Type 4 (Advising on Securities) and Type 5 (Advising on Futures Contracts) regulated activities with Professional Clients in Hong Kong. As per license conditions, NIAHK does not hold client assets.

The content of the website is INTENDED SOLELY TO PROVIDE INFORMATION TO THE QUALIFIED INVESTORS or PROFESSIONAL INVESTORS ONLY AND IS NOT MEANT FOR RETAIL INVESTORS. If you are not the intended recipient you must not copy, distribute, or take any action or place reliance on it. If you have received this communication by error, please notify the sender immediately. The content of the website is intended to be educational only and not for a marketing or prospecting purpose and also should not be taken as the basis for investment decision. The views and opinions expressed as part of this document do not necessarily state or reflect those of Nuvama, its holding company (ies), subsidiaries and associates including entities in overseas jurisdictions. This website or snippets from the website must not be distributed, published, reproduced, or disclosed (in whole or in part) by recipients to any other person. The receiver of the document(s) is / are advised to exercise caution in relation to the information provided therein.

Nuvama Investment Advisors LLC “NIA LLC” is a Mauritian incorporated private company limited by shares and holds a Global Business Licence 1 under the Financial Services Act 2007. It is regulated by the Financial Services Commission and also holds an Investment Adviser License (Unrestricted) under Section 30 of the Securities Act 2005. Its main activity is to Provide Investment Advisory Services in Mauritius.

Nuvama Financial Services Inc. is regulated by Financial Industry Regulatory Authority (FINRA). It is registered with FINRA and Securities and Exchange Commission (SEC). It is licensed to act as a Rule 15A-6 – Chaperoning Broker Dealer for its parent company and other affiliates. It can also act as a Chaperoning Broker Dealer by referring Trade Execution Services to its parent company, Distributing Research Reports for its parent company, and Conducting Road Shows. It does not effect transactions in commodities, commodity futures or commodity options. EFSI is a wholly owned subsidiary of Nuvama Wealth Management Limited (Nuvama).

Nuvama Financial Services (UK) Limited (NFSUKL) (Previously Edelweiss Financial Services (UK) Limited – EFSUKL) is licensed by Financial Conduct Authority – United Kingdom to conduct the following business i.e. Advising on Investments (except on Pension Transfers and Pension Opt Outs), Arranging (bringing about) Deals in Investments, Making arrangements with a View to Transactions in Investments and Agreeing to carry on a Regulated Activity. Its registered office is situated at 30 St Mary’s Axe, 28th Floor, London, EC3A 8BF, United Kingdom. NFSUKL is a wholly owned subsidiary of Nuvama Wealth Management Limited (Nuvama).

The information contained on the website has not been approved by an authorized person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”) and is intended for specific persons/entities as provided in the “Disclaimers for UK Persons”. Kindly refer to the same.

This is a private website owned by Nuvama Group. Unauthorized scanning of vulnerabilities and exploitation of the same is strictly prohibited. If you have been found to do so, necessary Civil and/or Criminal action and/or legal proceedings may be initiated against you, which shall be entirely at your costs and consequences.

The Nuvama Group would have an exclusive discretion to decide the clients who would be entitled to its investing services. The Nuvama Group also reserves the right to decide on the criteria based on which clients would be chosen to participate in these services.

Use of this service is at the sole risk of the user / client. The data and information provided in the web site is not professional advice and should not be relied upon as such. Nuvama Group may at any time edit, alter and or remove any information in whole or in part that may be available on this website and that it shall not be held responsible for all or any actions that may subsequently result into any loss, damage and or liability. Nothing contained herein is to be construed as a recommendation to use any product and/or process, and Nuvama Group or any of its Directors, Employees, agents or representatives makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise.

Nuvama Group may discontinue or change any service described in or offered on this web site or in any modules or parts thereof at any time if deems fit and proper. Nuvama Group (including its and their directors, employees, affiliates, agents, representatives or subcontractors) shall not be liable for any loss or liability resulting, directly or indirectly, from delays or interruptions due to electronic or mechanical equipment failures, telephone interconnect problems, defects, weather, strikes, walkouts, fire, riots, armed conflicts, acts of war, or other like causes. Nuvama Group shall have no responsibility to provide you access to the Website while interruption of the Website is due to any such cause shall continue.

Accessing or using the website in any manner, voluntarily or otherwise in a country or jurisdiction wherein the terms and conditions contained in this disclaimer, in part or in full, are not recognized or not capable of being enforced, then such access or use shall be deemed to be unauthorized. If the user / client downloads any information or software from this site, the user / client agrees to not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

Without prejudice to the generality of the foregoing paragraph, Nuvama Group and its directors, employees, affiliates and associates state that:

The information analysis given in the reports, if any, which may be uploaded on the website are purely an interpretation / view of the author and Nuvama group or any of its directors, employees, agents or representatives shall not be liable or responsible in any manner whatsoever for any transactions executed by the customers on the basis of these reports.
Any comparative indices that may be made available on the website are mere indicators and are in no manner meant to reflect or influence the decision of any person who happens to access the same. Nuvama group or any of its directors, employees, agents or representatives do not in any manner whatsoever verify or vouch for the accuracy or authenticity of the results.
Nothing on this website constitutes, or is meant to constitute, advice of any kind. If you require advice in relation to any investments, legal, financial, medical matters or any other matters, you should consult an appropriate professional.
The Nuvama Group sources the data from the capital markets and is therefore not responsible and/or should be held liable by you for the correctness or accuracy of any information received in that regard from the capital markets that may be mentioned in the reports.
The authenticity of the data received from capital markets is not guaranteed by Nuvama Group and that they or any of its Directors, Employees, Agents or representatives shall assume no responsibility or liability in any manner whatsoever for such data mentioned/stated in the reports.

This Website is provided “as is” without any representations or warranties, express or implied. Nuvama group or any of its directors, employees, agents or representatives, make no representations or warranties in relation to the Website or the information and materials provided on the Website.

This Website will be constantly available, or available at all; or
The information on this Website is complete, true, accurate or non-misleading

Nuvama Group or any of its directors, employees, Agents or representatives will not be liable to you (whether under the law of contact, the law of torts or otherwise under any other law) in relation to the contents of, or use of, or otherwise in connection with, this Website:

For any indirect, special or consequential loss; or
For any business losses, loss of revenue, income, profits or anticipated savings, loss of contracts or business relationships, loss of reputation or goodwill, or loss or corruption of information or data.

These limitations of liability apply even if Nuvama Group or any of its directors, employees, Agents or representatives has been expressly advised of the potential loss.

By using this Website, you agree that the exclusions and limitations of liability set out in this website disclaimer are reasonable. If you do not think they are reasonable, you must not use this Website.

The links in this site may allow you to leave the Website. Such linked sites, if any, are not under the control of the Website. The Website has not reviewed, nor approved these sites and is not responsible for the contents or omissions of any linked site or any links contained in a linked site. The inclusion of any linked site does not imply endorsement by Nuvama and its group companies, of such sites.

Disclaimers for international jurisdiction

The content of the website does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. “U.S. Persons” are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed “US Persons” under certain rules. THIS DOCUMENT IS INTENDED SOLELY TO PROVIDE INFORMATION TO THE QUALIFIED INSTITUTIONAL INVESTORS ONLY AND IS NOT MEANT FOR RETAIL INVESTORS. If you are not the intended recipient you must not copy, distribute, or take any action or place reliance on it. If you have received this communication by error, please notify the sender immediately. This communication is intended solely for the person to whom it is addressed and may contain confidential or privileged information. The document is intended to be educational only and not for a marketing or prospecting purpose. The views and opinions expressed as part of this presentation do not necessarily state or reflect those of Nuvama, its holding company(ies), subsidiaries and associates including entities in overseas jurisdictions.

The content of the website or any information contained therein must not be distributed, published, reproduced, or disclosed (in whole or in part) by recipients to any other person. The content of the website must not be acted on or relied on by persons who are not qualified institutional investor. Any investment or investment activity to which this website relates, is available only to qualified institutional investor and will be engaged only with qualified institutional investor. Any person who is not a qualified institutional investor should not act or rely on this website or any of its contents

The content of the website has not been approved by an authorized person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”). In the United Kingdom, this document is intended for (a) persons who have professional experience in matters relating to investments falling within Article 19(5) of the FSMA (Financial Promotion) Order 2005 (the “Order”); (b) persons falling within Article 49(2)(a) to (d) of the Order (including high net worth companies and unincorporated associations); and (c) any other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). THIS document IS INTENDED SOLELY TO PROVIDE INFORMATION TO THE QUALIFIED INSTITUTIONAL INVESTORS ONLY AND IS NOT MEANT FOR RETAIL INVESTORS. If you are not the intended recipient you must not copy, distribute, or take any action or place reliance on it. If you have received this communication by error, please notify the sender immediately. This communication is intended solely for the person to whom it is addressed and may contain confidential or privileged information. The content of the document is intended to be educational only and not for a marketing or prospecting purpose. The views and opinions expressed as part of this document do not necessarily state or reflect those of Nuvama, its holding company (ies), subsidiaries and associates including entities in overseas jurisdictions.

The content of the website is NOT MEANT FOR RETAIL INVESTORS. IT IS INTENDED SOLELY TO PROVIDE INFORMATION TO THE PERMITTED CLIENTS ONLY (as defined in National Instrument 31-103 (“NI 31-103”)) who are resident in the Province of Ontario, Canada (an “Ontario Permitted Client”). Any products or services described in this document are made available only in accordance with applicable Canadian securities law and only where they may be lawfully offered for sale. If the person accessing this document is not an Ontario Permitted Client, as specified above, then the recipient should not access the same. Nuvama and its group companies is relying on an exemption from the adviser and/or dealer registration requirements under NI 31-103 available to certain international advisers and/or dealers. Please be advised that

Nuvama and its group companies is not registered in the Province of Ontario to trade in securities nor is it registered in the Province of Ontario to provide advice with respect to securities;
Nuvama’s head office or principal place of business is located in India;
all or substantially all of Nuvama’s assets may be situated outside of Canada;
there may be difficulty enforcing legal rights against Nuvama because of the above; and
the name and address of Nuvama Group’s agent for service of process in the Province of Ontario is: Bamac Services Inc., 181 Bay Street, Suite 2100, Toronto, Ontario M5J 2T3 Canada. The content of the website must not be distributed, published, reproduced or disclosed (in whole or in part) by recipients to any other person. This communication must not be acted on or relied on by persons who are not PERMITTED CLIENTS. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a PERMITTED CLIENTS should not act or rely on this communication or any of its contents.

The content of the website is INTENDED SOLELY TO PROVIDE INFORMATION TO THE INSTITUTIONAL QUALIFIED INVESTORS ONLY AND IS NOT MEANT FOR RETAIL INVESTORS. Further, the information in this document does not constitute a public offer of securities in the United Arab Emirates and is not intended to be a public offer. The website has not been approved by or filed with the Central Bank of the United Arab Emirates, the Securities and Commodities Authority of the United Arab Emirates or the Dubai Financial Services Authority. The content of the website must not be distributed, published, reproduced or disclosed (in whole or in part) by recipients to any other person. The website must not be acted on or relied on by persons who are not INSTITUTIONAL QUALIFIED INVESTORS. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a INSTITUTIONAL QUALIFIED INVESTORS should not act or rely on this communication or any of its contents. The content of the website must not be distributed, published, reproduced or disclosed (in whole or in part) by recipients to any other person. The website must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.

Any information set out on the website is only intended for persons who are “Professional Investors” as described in Section 761(G) of the Corporations Act 2001 (as amended). It is not intended to for any other class of persons and may not be relied upon by such persons and is therefore not intended for private individuals or those who would be classified as Retail Clients. All information on the website is general information only and is not to be considered any form of advice (whether investment or otherwise) or a recommendation, solicitation, or an offer to purchase or sell investments or related financial products or any financial services. The receiver of the website should make their own decisions based upon their own financial objectives and financial resources and, if in any doubt, should seek advice from an appropriate independent advisor. Nuvama and its group companies does not hold an Australian Financial Services License and is not licensed in Australia to provide financial product advice or services and is relying on “limited connection relief exemption” when dealing with “Professional Investors” (Wholesale client category) in Australia.

The content of this website is restricted in certain jurisdictions and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, by anyone in any jurisdiction in which such an offer or solicitation is not authorised or may not lawfully be made (without compliance with any registration or other legal requirements) or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer in any jurisdiction. The above information is for general guidance only, it is the responsibility of receivers to inform themselves as to any income or other tax consequences arising in the jurisdictions in which they are resident or domiciled or have any other presence for tax purposes, as well as any foreign exchange or other fiscal, or legal or regulatory restrictions which are relevant to their particular circumstances in connection with the acquisition, holding or disposal of any securities if any mentioned in this document. This document is strictly private and confidential and may not be reproduced or use for any other purpose and not be provided to any person other than the recipient thereof. If you are not the intended recipient you must not copy, distribute, or take any action or place reliance on it. If you have received this communication by error, please notify the sender immediately. Any such information contained or discussed on the website is subject to change and Nuvama Group or any of its Directors, Employees, agents or representatives shall not have any responsibility to maintain the information made available or to supply any correction therewith. In no event will Nuvama Group or any of its Directors, Employees, agents or representatives, be liable for any special direct or indirect or consequential damages which may be incurred from the use of the information made available, even if it has been advised of the possibility of such damages. The company and its employees mentioned in these communications cannot be held liable for any error’s inaccuracies and/or omission howsoever caused. Any opinion or advice herein is made on a general basis and is subject to change without notice. The information provided in this website may contain optimistic statements regarding future events or future financial performance of countries, markets, or companies. You must make your own financial assessment of the relevance, accuracy and adequacy of the information provided therein.

Nuvama Wealth Management Limited and Nuvama Wealth and Investment Limited are regulated by the Securities and Exchange Board of India (“SEBI”) and is licensed to carry on the business of Research Analysts including preparing and distribution of Research Reports. These research reports are prepared and distributed by Nuvama Wealth Management Limited and Nuvama Wealth and Investment Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH200000121 and INH000000172 respectively.

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