Updates on Open Offer

• Security Code: 508980
• Company: FRONTCAP

Inga Capital Pvt Ltd ("Manager to the Open Offer") on behalf of Mr. Anirudh Bhuwalka (“Acquirer”) has informed this detailed public statement ('DPS') to the Public shareholders of Frontier Leasing and Finance Limited (“Target Company”), in compliance with regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ('SEBI (SAST) Regulations, 2011') pursuant to the public announcement ('PA') dated January 10, 2014 filed with BSE Limited, Securities and Exchange Board of India ('SEBI') and the Target Company in terms of regulations 3(1), 4, 5(1) and 5(2) of the SEBI (SAST) Regulations, 2011.

The Offer:

The Acquirer is making an open offer to acquire 63,700 (Sixty Three Thousand Seven Hundred) equity shares of the face value of Rs. 10/- each, being 26% of fully paid-up equity share capital and voting capital of the Target Company ('Offer Size') at a price of Rs. 149/- (Rupees One Hundred Forty Nine only) per fully paid-up equity share ('Offer Price') payable in cash ('Open Offer'/'Offer'), subject to the terms and conditions set out in the PA, this DPS and the Letter of Offer, that will be sent to the equity shareholders of the Target Company.

Tentative Schedule of Activity:

Identified Date - February 18, 2014

Date of Commencement of tendering Period - March 06, 2014

Date of Closing of tendering Period - March 20, 2014