Sunshine Builders Ltd. is a registered sponsor under SEBI (Infrastructure Investment Trusts) Regulations, 2014. The Company is planning for Public offer to meet the growing infrastructure demand in the country. Enumerate

Guidelines regarding public issue of units of InvITs The following are guidelines issued by the SEBI under the SEBI (Infrastructure Investment Trusts) Regulations, 2014 for public issue of units of InvITs: The Investment Manager on behalf of the InvIT, shall appoint one or more merchant bankers, at least one of whom shall be a lead merchant banker and shall also appoint other intermediaries, in consultation with the lead merchant banker, to carry out the obligations relating to the issue. After receipt of comments from public and observations from SEBI, the draft offer document shall be filed with SEBI and the designated stock exchanges. In an issue made through the book building process or otherwise, the allocation in the public issue shall be as follows: not more than 75% to institutional Investors not less than 25% to other investors Investment manager on behalf of the InvIT, may allocate upto 60% of the portion available for allocation to Institutional Investors to anchor investors. The Investment Manager on behalf of the InvIT, shall deposit, before the opening of subscription, and keep deposited with the stock exchange(s), an amount calculated at the rate of 0.5% of the amount of units offered for subscription to the public or ₹5 crore, whichever is lower. A public issue shall be kept open for at least three working days but not more than thirty days. Where the InvIT desires to have the issue underwritten, it shall appoint the underwriters in accordance with the SEBI (Underwriters) Regulations, 1993. The investment manager on behalf of the InvIT, may determine the price of units in consultation with the lead merchant banker or through the book building process. The InvIT shall accept bids using only the Application Supported by Blocked Amount (ASBA) facility for making payment i.e. writing their bank account numbers and authorising the banks to make payment in case of allotment, by signing the application forms. Further, the bidding process shall be done only through an electronic bidding platform provided by recognised stock exchanges. On receipt of the sum payable on application, the investment manager on behalf of the InvIT shall allot the units to the applicants. Records related to allocation process shall be maintained by the lead book runner and the book runner/s and other intermediaries associated in the book building process shall also maintain records of the book building prices. The lead merchant banker shall submit the following post-issue reports to SEBI: Initial post issue report, within three working days of closure of the issue. Final post issue report, within fifteen days of the date of finalization of basis of allotment or within fifteen days of refund of money in case of failure of issue. The lead merchant banker shall submit a due diligence certificate along with the final post issue report. Any public communication including advertisement, publicity material, research reports, etc. concerned with the issue shall not contain any matter extraneous to the contents of the offer document. The post-issue lead merchant banker shall regularly monitor redressal of investor grievances relating to post-issue activities such as allotment, refund, etc. The post-issue merchant banker shall ensure that advertisement giving details relating to oversubscription, basis of allotment, number, value and percentage of all applications, number, value and percentage of successful allottees for all applications, date of completion of dispatch of refund orders or instructions to Self-Certified Syndicate Banks by the Registrar, date of dispatch of certificates and date of filing of listing application, etc. is released within ten days from the date of completion of the above activities on the website of the InvIT, sponsor, investment manager, stock exchanges and in all the newspapers in which the pre issue advertisement was released, if applicable. The lead merchant bankers shall exercise due diligence and satisfy himself about all the aspects of the issue including the veracity and adequacy of disclosure in the offer documents. The lead merchant banker shall ensure that the information contained in the offer document and the particulars as per audited financial statements in the offer document are not more than six months old from the issue opening date.