DISCLAIMER – IMPORTANT

You must read and agree with the terms and conditions of the following disclaimer before continuing.

The following disclaimer applies to the Red Herring Prospectus of BSE Limited (the "Company") dated January 11, 2017 and filed with the Registrar of Companies ("RoC") on January 11, 2017 (the "Red Herring Prospectus") and hosted on this website in connection with the public offering by way of offer for sale of the equity shares of face value Rs. 2/- each ("Equity Shares") of the Company (the "Offer"). In accessing the Red Herring Prospectus, you agree to be bound by the following terms and conditions, including any modifications to them from time to time. You are therefore advised to read the following terms and conditions carefully before reading, accessing or making any other use of the Red Herring Prospectus.

You are reminded that you have accessed the Red Herring Prospectus on the basis that you are a person into whose possession the Red Herring Prospectus may be lawfully delivered in accordance with the laws of the jurisdiction in which you are located. The Red Herring Prospectus is directed at, and is intended for distribution to, and use by, residents of India only.

The information in this portion of our website, including the Red Herring Prospectus, is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia) and is not intended to be viewed by any person in the United States nor by any U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act") unless such person is a "qualified institutional buyer" (as defined in Rule 144A under the Securities Act) and a "qualified purchaser" (as defined in Section 2(a)(51) of the U.S. Investment Company Act of 1940, as amended) and an institutional "accredited investor" (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) (such person, as "Entitled Qualified Purchaser"). No part of the contents of the Red Herring Prospectus shall be copied or duplicated in any form by any means, or redistributed.

SMC Capitals Limited ("SMC"), as one of the Managers to the Offer has taken all necessary steps to ensure that the contents of the Red Herring Prospectus as appearing on this website are identical to the Red Herring Prospectus filed with RoC in accordance Regulation 6(4) of the SEBI ICDR Regulations. You are reminded that documents transmitted in electronic form may be altered or changed during the process of transmission and consequently, neither SMC nor any of its affiliates accepts any liability or responsibility whatsoever in respect of alterations or changes which have taken place during the course of transmission of electronic data. SMC and its affiliates will not be responsible for any loss or damage that could result from interception and interpretation by any third parties of any information being made available to you through this website.

The contents of the Red Herring Prospectus are for your information only. The Red Herring Prospectus does not constitute an offer to sell the Equity Shares offered in any jurisdiction to any person to whom it is unlawful to make an offer or invitation in such jurisdiction. The Red Herring Prospectus is not an offer of Equity Shares for sale into the United States, United Kingdom, Canada, China or Japan. The Equity Shares referred to therein have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of the Equity Shares is being made in the United States. The Company has not been, and will not, register as an "investment company" within the meaning of the U.S. Investment Company Act of 1940, as amended, and is relying on the exemption from registration provided by Section 3(c)(7) thereunder.

Any person into whose possession the Red Herring Prospectus comes is required to inform him or herself about and to observe any such restrictions. SMC is not soliciting any action based on the Red Herring Prospectus, and it should not be construed as an offer to sell or the solicitation of an offer to buy the Equity Shares.

SMC will not be responsible for any loss or damage that could result from interception and interpretation by any third parties of any information being made available to you through this website. [•] cannot and does not guarantee the accuracy, timeliness or completeness of the information being made available to you in the Red Herring Prospectus beyond the date of the Red Herring Prospectus.

Neither SMC, nor any of its affiliates nor their directors, officers and employees will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or disruption of this website, or resulting from the act or omission of any other party involved in making this website or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the website or these materials.

I hereby declare that I am a resident of and there are no restrictions on my accessing or receiving the information contained on this website.

I have read the Legal Disclaimer and am entitled to receive information contained in this website.
Either (i) I am not a U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")) or (ii) I am an Entitled Qualified Purchaser (as defined above).

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