Revised Undertaking Under Regulations 32(1) Of SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015.

• Security Code: 538835
• Company: INTELLECT

With reference to the above subject and reference, we hereby undertake that utilization of proceeds out of Rights Issue of Rs. 198.97 Crores and Preferential allotment of Rs. 100 Crores have been fully utilized as on 30th September,2018.The Rights Issue was listed and traded vide NSE and BSE letters dated August 22, 2017 and August 23, 2017 respectively. The Preferential allotment for Rs.100 crores was listed and traded vide NSE and BSE letters dated August 24, 2018.

We further undertake that there is been no deviation or variation in the use of proceeds as stated in the Letter of Offer and Explanatory statement to the notice of respective General Meeting.

Kindly take the above information on record and confirm compliance.