Certain Equity Shares of Dolphin Offshore Enterprises (India) Limited are subject to a Lock-Up Agreement Ending on 26-JAN-2024. These Equity Shares will be under lockup for 90 days starting from 28-OCT-2023 to 26-JAN-2024.

Details:
The Company acknowledges that the Promoters have undertaken that they will not for a period ending 90 days after Closing Date under the Issue, without the prior written consent of the Book Running Lead Manager, directly or indirectly: (a) offer, issue, pledge, sell, encumber, contract to sell, lend, purchase any option, grant or sell any option, right, contract or warrant to purchase, make any short sale or otherwise transfer or dispose of any Equity Shares held by the Promoters or any other securities of the Company substantially similar to the Equity Shares (?Lock-up Shares?), including, but not limited to options, warrants or other securities that are convertible into, exercisable or exchangeable for, or that represent the right to receive Lock-up Shares, whether now owned or hereinafter acquired; (b) enter into any swap or other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequences of ownership of the Lock-up Shares or any securities that are convertible into, exercisable or exchangeable for Lock-up Shares, whether now owned or hereinafter acquired; or (c) enter into any transaction (including a transaction involving derivatives) having an economic effect similar to that of an issue, offer, sale or deposit of the Lock-up Shares in any depository receipt facility. Provided that, the foregoing restriction shall not apply with respect to (i) any sale, transfer or disposition of any of the Lock-up Shares by the Promoters with prior written consent of all the BRLMs to the extent such sale, transfer or disposition is required by Applicable law; and (ii) any bona fide pledge or nondisposal undertaking of any of the Lock-up Shares held by the Promoters as collateral for loans on normal commercial terms entered or to be entered into in the ordinary course of business of the undersigned, the Company.