Prominent Deals

Equity Capital Market

Block/Offer for sale:

Citi acted as the sole active book runner on behalf of Sumitomo Mitsui
Banking Corporation, to sell their 1.8% stake in Kotak Mahindra Bank through
a US$305 million block trade. The trade was executed at INR630.7, a
premium of 0.1% to the closing price prior to launch, and represented over
30 times of Kotak's 3-month average daily traded value

Citi acted as Joint Bookrunner for Castrol Limited (subsidiary of BP Group) to

sell 20.0% in the Castrol India Ltd (Market Capitalization of ~US$ 3.0 billion)
via block trades on the Indian stock exchange. The monetization was
executed via two tranches of 11.5% and 8.5% stake

Citi acted as a sole bookrunner on behalf of the founders of the company (Mr.
Gopalakrishnan, Mr. Shibulal and family), to sell a part of their holding in
Infosys Ltd. through a US$128 million block trade, executed on the Indian
stock exchanges. The trade was executed at a price of INR1149, a tight
discount of 2.5% to the closing price prior to launch

Citi acted as the Sole bookrunner for the promoters of Eicher Motors to sell
4.2% in the Company through a US$ 315 million block trade. The deal
received high quality early anchor demand and was well-oversubscribed. Citi
acted as a one-stop shop to the sellers providing an end-to-end solution
across advisory, broking and settlement

Citi advised ING Mauritius on its 2.5% stake sell down worth US$550 million
in Kotak Mahindra Bank Limited. The transaction was executed on the Indian
stock exchanges at parity to previous day closing price
Citi acted as a Sole Bookrunner for the promoters of Bharat Forge to sell
1.0% stake in the Company through a US$30 million block trade executed on
the Indian stock exchanges

Citi acted as a Joint Bookrunner for SUUTI to sell 1.5% stake in Larsen and
Toubro Limited worth US$310 million via a block trade executed on the Indian
stock exchanges. The deal was executed a tight discount of 2.0% to the
previous day closing price

Citi acted as a joint seller broker to the Government of India, to sell their 5%
stake in Container Corporation of India through an US$170 million Offer for
Sale, completed on the Indian stock exchanges. The trade was executed with
a floor price of INR1195, a discount of 2.6% to the last close price prior to
launch. It received 2.0 times subscription

Citi acted as a Joint Seller Broker to the Government of India, to sell their
15% stake in NBCC (India Limited) through an US$330 million Offer for Sale,
completed on the Indian stock exchanges. The trade was executed with a
floor price of INR246.5, a discount of 2.7% to the last close price prior to
launch

Buyback

Citi successfully led the US$24 million Buy-back of Just Dials Equity Shares,
by way of a Tender Offer through the stock exchange mechanism, at a price
of INR1550, a premium of 41.7% to the closing price prior to the Board
approving the Buyback (June 4, 2015). The transaction received a total
subscription of 15.5 times (23% of total shares outstanding were tendered in
the Buyback)

IPOs
Citi led the US$155 million IPO for Mahanagar Gas Ltd (MGL), the joint
venture company of Shell-BG and GAIL. Citi led the strategic aspects of the
IPO and was instrumental in driving execution, price discovery and demand
modalities of the transaction. The transaction is the most successful IPO in
the last five years, receiving overwhelming investor response of more than
64x

Citi, acting as a Joint Global Coordinator and Bookrunner priced the US$182
million IPO of L&T Infotech. This was the last large Indian IT services
company to go public and the third listing from the L&T Group. The IPO saw
robust overall demand in excess of US$1.5 billion and received the largest
number of applications in an Indian private sector IPO in the last eight years

Citi, acting as a Joint Global Coordinator and Bookrunner priced the US$182
million IPO of RBL Bank. This was the first IPO from a private sector bank in
India since 2005. The IPO saw robust investor response with overall demand
in excess of US$8.8 billion (c.70 times covered excluding the cornerstone
tranche)

Citi acting as Joint bookrunner successfully priced the US$175 million IPO of
Endurance Technologies. The IPO saw robust investor response with overall
demand in excess of US$5.3 billion (c.44 times covered excluding the
cornerstone tranche). 94% of the cornerstone tranche was allocated to long
only global investors and local institutions

Citi acting as a Joint Bookrunner successfully led the INR 1,331 crores
(US$194 million) IPO of Laurus Labs, an R&D driven pharmaceutical
company. The IPO was one of the largest healthcare sector IPOs in India and
oversubscribed 4.6 times, generating over INR 4,500 crores of overall
demand

Debt Capital Market

Joint Bookrunner

US$500 million 10-year bond for NTPC. This was the tightest USD bond
coupon ever achieved by NTPC. The transaction marks the fourth
consecutive USD bond deal that Citi has led for NTPC since 2011

US$700 million 10-year bond for ICICI Bank. The issuance marked the first
USD bond issuance by an Indian private sector bank in 2016 and achieved
the lowest 10-year USD bond coupon by any Indian bank

Inaugural US$ 500 million 5-year Green Bond Offering for Axis Bank. The
issuance marked the first USD Green Bond issuance by an Indian private
sector bank and received strong demand from high quality Green Bond
investors with allocation in excess of 20% of the issuance size. This was the
first bond by an Indian Issuer to be listed on the London Stock Exchange and
achieved the lowest 5 year USD bond coupon by any Indian commercial bank

Inaugural US$300 million PerpNC5 Basel III compliant Additional Tier 1

Capital Securities for State Bank of India. The transaction marks the
inaugural USD AT1 issuance from India and established a benchmark for the
USD AT1 product for Indian banks

US$500 million 5.5-year EMBI eligible bond for Export-Import Bank of India.
The transaction marked the first international bond offering from India in
2016. The Notes were priced at a minimal new issue premium in a market
paying elevated double-digit premiums

US$1.0 billion 10-year bond for Export-Import Bank of India ("Exim"). This
was the inaugural 144A / Reg S transaction by an India sovereign proxy and
by Exim and achieved the lowest 10-yr coupon by an Indian issuer in the USD
bond market. This transaction marks the ninth USD bond deal Citi has led for
EXIM Bank since 2004
Sole Arranger:

INR1,000 crores (c. US$150 million) Unsecured Unlisted Non-Convertible

Debentures Issuance for Tata Motors Finance Solutions Limited (TMFSL). The
transaction marks the second consecutive NCD issuance Citi has led for
TMFSL since its inaugural issuance in March 2015

INR250 crores (c. US$38 million) 1-year Secured Listed Non-Convertible

Debentures Issuance for Shriram Transport Finance Company, Indias largest
asset financing Non-Banking Financial Company

INR200 crores (c. US$30 million) 1-year Secured Listed Non-Convertible

Debentures Issuance for Indiabulls Housing Finance, Indias third-largest
housing finance and second-largest private housing finance company in India

INR 450 crores (c. US$68 million) 2-month Unsecured Commercial Paper
Issuance for Julius Baer Capital (India) Private Limited (JBCIL). JBCIL is a 100%
owned NBFC of Julius Baer Group Ltd., one of the largest and best capitalized
pure-play private banking institutions globally

INR 500 crores (c. US$ 75 million) c. 3-year Non-Convertible Debentures

(NCD) issuance for Tata Motors Finance Limited (TMFL), having
successfully priced INR 1,000 crores (c. US$ 150 million) NCD issuance for
TMFLs subsidiary in March 2016

Inaugural INR 500 crores (c.US$ 75 million), six and eight-month Unsecured
Commercial Paper (CP) Issuance for BMW India Financial Services Pvt Ltd,
(BMW), in two tranches. Citi deployed a swift execution strategy to access
a favorable market window post rate cuts and easing liquidity in April,
achieving extremely fine pricing for the inaugural Issuance by BMW
Joint Global Coordinator:

Inaugural US$500 million 5-year bond (the Notes) for UPL Corporation
Limited (UPL). Citi led the ratings advisory, documentation, structuring,
execution and devised a tailored marketing strategy for UPL. This was the
inaugural USD bond issuance in the Agrochemical sector out of Asia and
achieved the lowest 5-yr USD bond coupon ever achieved by an Indian
private sector corporate

Inaugural US$300 million 5-year bond for Jubilant Pharma Limited

(Jubilant). Citi played an instrumental role in developing the credit
positioning story for Jubilant and in marketing the issue. Citi has successfully
executed both inaugural issuances in the pharmaceuticals sector out of Asia

INR13.3 billion (~US$200 million) 3-year 1-month Senior Secured Masala

bond Offering for Indiabulls Housing Finance Limited (Indiabulls). This was
the inaugural international and Masala bond offering by Indiabulls

US$1.0 billion dual-tranche 5.5-year and 10-yr bond for ONGC Videsh
Vankorneft Pte. Ltd, guaranteed by ONGC. The transaction marks the 3rd
consecutive USD bond deal Citi has led for ONGC / OVL since 2013.

Inaugural US$200 million 5-year bond for Glenmark Pharmaceuticals Limited

(Glenmark). The transaction was the inaugural USD bond issuance in the
Pharma sector out of Asia ex-Japan and achieved the lowest coupon ever
achieved by an Indian Non-IG Issuer

US$522.6 million 10-year Senior Secured Bond Offering (the Notes) for
Delhi International Airport Private Limited (DIAL). This was DIALs second
foray in the USD bond market and the first 10-year Non IG USD bond
transaction from an India incorporated Issuer in the 144A / Reg S format

M&A
M&A Advisor to:

Bigbasket, which operates Indias largest online grocery platform, in its

recently concluded ~US$150 million fundraising round

Siemens Limited on the sale of its Healthcare business to Siemens

Healthcare Private Limited, a wholly owned subsidiary of its parent, Siemens
AG for a sale consideration of INR30,500 million (c.US$450 million)

Dalmia Bharat Ltd. (DBL) on its acquisition of 15% of the share capital of
Dalmia Cement Bharat Limited (DCBL) from KKR Mauritius Cement
Investments Ltd. (KKR)

Mitsui Sumitomo Group on its acquisition of 14% stake in Cholamandalam MS

General Insurance from TI India for US$180 million

Hungama Digital Entertainment Private Limited, Indias largest digital media

entertainment company, on its recently concluded Series D US$ 25 million
fundraising round. The round was led by the China based smartphone
manufacturer, Xiaomi, with participation from existing investors, Intel Capital
and Bessemer Venture Partners, along with promoter group including Rakesh
Jhunjhunwala

ONGC Videsh Limited (OVL) on its bolt-on acquisition of 11% participating

interest in CSJC Vankorneft (Vankorneft) from Rosneft Oil Company. This
was OVLs second stake purchase following an earlier 15% stake acquisition
in May 2016, taking OVLs total participation share in Vankorneft to 26%

HDFC Life, for its merger with Max Life Insurance Company Ltd and Max
Financial Services Ltd. Post completion of the transaction, HDFC Life
Insurance Company Limited (HDFC Life), the surviving merged entity, will
be the largest private life insurance company in India with INR 25,500 crore
in annual premium based on FY16. As per the agreed valuation and
exchange ratio, HDFC Ltd. will hold approx. 42.5% of HDFC Life

LafargeHolcim on the divestment of its 100% stake in Lafarge India Ltd

(Lafarge India) to Nirma Limited (Nirma) for an enterprise value of
approximately US$1.4 billion

Citizenship Activities:

Citi India endeavors to support the nations priorities, in the areas of

education, financial inclusion, youth skilling, empowerment, basic nutrition
and preventive healthcare, art and culture and environmental sustainability

Since its inception in 1999, the Citi Foundation grant program has catalyzed
opportunities for more than 2.5 million people across the country while
working in the areas of Financial Capability & Asset Building, Youth Education
& Livelihoods, Enterprise Development and Microfinance. In 2014, Citi
Foundation launched the India Innovation Grant Program to encourage non-
governmental organizations (NGOs) to develop innovative programs that are
scalable and replicable. At the time, the Foundations focus area was solely in
the space of Financial Inclusion. In 2015, the program extended to also
encompass Youth Skilling, based on the Indian Governments national
priorities. In 2016, the program focuses on Youth Skilling and Livelihoods

The protection and promotion of Indias national heritage, art and culture has
been an integral part of Citi Indias Citizenship philosophy, strategy and
mandate. It has continued its strong partnership with the National Centre for
the Performing Arts (NCPA), celebrating the Guru-Shishya Tradition with the
Citi-NCPA Aadi Anant Festival of Indian Music, The Guru-Shishya Scholarship
Program, and the Music for Schools program. Further, Citi India is also proud
to be patron of the first and only much acclaimed Symphony Orchestra of
India since its inception in 2007. Further, Citi India has also partnered with
the Prince of Wales Museum on two programs- the first entails the
conservation and restoration of 150 important objects of the CSMVS
Collection of various types and categories, while the second is a Museum on
Wheels program

Close to 3900 Citi employees, families, friends and NGO partners came
together in 7 cities to participate in 13 events themed on Swacch Bharat at
Citis Global Community Day in May 2016. Citi India also launched Giving at
Citi the revamped employee payroll giving program. Since its launch in May
2016, there has been an increase of 63% in monthly contributions

In alignment with its commitment to environmental conservation, Citi India is

proud to have three Platinum LEED certified premises in India. Each of these
facilities is architecturally and environmentally responsible and green, using
natural resources judiciously.

Recent Awards

IFR Asia Awards 2016

India Loan House

The Asset Triple A Country Awards 2016.

Best Bank Global(fourth consecutive year)

Best Corporate and Institutional Bank Global (13th year)

Best M&A House (second consecutive year)

DMA Asia 2016

Media Strategy/ Best use of Multichannel - Silver Award for

#WhatsNewThisDiwali

Effectiveness - Insurance & Financial Products and Services - Silver Award for
#WhatsOnYourPlate

Dun & Bradstreet Cedar Management Consulting Banking Awards 2016

Best Foreign Bank Retail

Best Foreign Bank Overall<

FE India's Best Bank Awards, 2016

Winner in the Efficiency category and Best Foreign Bank for FY13/14

Winner in the Profitability category for FY14/15

Businessworld BW-PwC I-banking Survey 2016

M&A Dealmaker of the Year

Joint Cross-Border Bond Dealmaker of the Year

Global Finance Best Digital Banks Awards 2016

Best Consumer Digital Bank in India (eighth consecutive year)

Best Corporate/Institutional Digital Bank in India

Euromoney Awards for Excellence 2016

Best Investment Bank (4th consecutive year)

FinanceAsia Platinum Awards - 20th Anniversary

Best Foreign Bank

Best Foreign Investment Bank

(basis last two decades of awards, polls and financial data)

Finance Asia Country Awards for Achievement 2016

Best Foreign Bank (4th consecutive year)

Best Foreign Investment Bank (nine out of 10 years)

Readers Digest's 'Trusted Brand' 2016

Citibank India's credit cards - 'Gold'

The Asset Triple A Asset Servicing, Fund Management and Investors Awards
2016

Best Sub custodian in India

Business Today 2016 Best Companies to Work for

Debut at #20

Businessworld - Best Bank Awards

Best Foreign Bank (2nd consecutive year)

Indian Banks Association - 11th Banking Technology Awards 2016

Awarded Best Technology Bank of the Year

Other recognitions:

Best Use of Technology to enhance customer experience

Best Risk Management, Fraud, and Cyber Security Initiatives

Best use of Digital and Channel Technologies

CIBIL Transunion 2016 Credit Information Conference

Best Data Quality Amongst Foreign Banks (2nd consecutive year)