

| Tactica Capital is a proprietary investment company, specializing in deep value investing opportunities in Indian businesses. Tactica was started in 2004 by Prof. Sanjay Bakshi - a renowned authority on deep value investing - and a group of his ex-students. Sanjay has an excellent track record in deep-value investing. |
| Tactica Capital invests its own, as well as its clients funds, in listed Indian businesses considered to be ultra cheap by its rigorous standards of deep value investing. It also participates in risk arbitrage opportunities arising out of announced corporate transactions such as takeovers, mergers, share buybacks etc. |
| Tactica also intends to initiate corporate transactions on its own behalf as well as its clients, in order to enhance stockholder value in the companies in which it has an interest. These might include buyouts, corporate restructurings, debt restructurings, spinoffs, leveraged recapitalizations, etc. |