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Information Regarding 38Th Annual General Meeting 4 COMPANIES MUMBAI | MONDAY, 7 DECEMBER 2020 1 > PhonePe eyes rural mkt with $700-mn war chest PEERZADA ABRAR Bengaluru, 6 December “ASLONGASWEREMAINHUNGRY ometime this year, as the country ANDAGILEASASTART-UPTO BETHE was dealing with the Covid-19 FIRSTTO GETINTO RURALINDIAAND S pandemic challenge, Sameer DOALOTOFOTHERTHINGSAS Nigam (pictured), founder and chief AMARKETLEADER,ITHINKWE'LL executive officer of PhonePe, adopted a stray cat he found hiding under his car. BEFINE” “It was raining. It came out as soon as I turned on the ignition switch. I took it home,” said Nigam, who is now able to spend time with the cat and also work from home. “Work-from-home is the only reason my wife allowed me to get the cat into the house,” he chuckled. Despite most of PhonePe’s employ- ees working remotely, the digital pay- ment firm has been able to turn the Covid-19 pandemic challenge into an opportunity. PhonePe recently crossed the 250- million registered user milestone, with over 100 million monthly active users OLYMPIC OILINDUSTRIESLIMITED generating nearly 1 billion digital pay- Regd.Off:709, CWing,One BKC, Near Indian OilPetrol Pump,GBlock, ment transactions in October alone. It Bandra- Kurla Complex, Bandra(East) Mumbai -400051 WHAT’S IN PHONEPE’S WALLET Tel: 91 22 2654 0901 Fax: 91 22 2652 0906 is targeting at crossing 500-million reg- E-mail ID: [email protected] Website: www.olympicoil.co.in istered users by December 2022. > $340 billion: Projected size of financial raise at a $5.5-billion valuation from CIN L15141MH1980PLC022912 “Digital payment volumes have services market in the next few years existing Flipkart investors, led by US NOTICE OF THE 40th ANNUAL GENERAL MEETING THROUGH VIDEO CONFERENCING exploded during Covid,” said Nigam, in giant Walmart AND REMOTE E-VOTING, REMOTE E-VOTING INFORMATION AND BOOK CLOSURE ETC. an interview, adding, “As they say, > 1 billion Indians: Financial inclusion Noticeisherebygiven thatthe Fortieth (40th)Annual General Meeting (AGM) of Members of Olympic Oil ‘never waste a good crisis.’ We've seen target of PhonePe. This includes > 500 million-plus: Projected registered Industries Limited will be held on Saturday, 26th December,2020 at 01.00 p.m. IST through video conferencing reaching millions of consumers in PhonePe users by December 2022 ("VC")/Other Audio Visual Means ("OAVM") Facilitytotransactthe Ordinarybusiness,asset out in the Notice phenomenal organic uptake.” of the AGM, in compliancewith the applicable provisions of the Companies Act, 2013 and Rules framed Due to the pandemic, people do not rural India > 250 million-plus: PhonePe registered thereunder and the SEBI (Listing Obligations and DisclosureRequirements) Regulations,2015 read with want to visit automated teller machines General Circular Nos.14/2020, 17/2020 and 20/2020 dated8th April 2020, 13th April 2020 and 5th May2020, > $700 million: Amount PhonePe will users in four years since its existence respectively,issued by the MinistryofCorporate Affairs ("MCACircular/s") and Circular No.SEBI/HO/CFD/CMD1/ or pay in cash, swipe point-of-sale CIR/P/2020/79 dated12th May2020 issued by the Securities and Exchange BoardofIndia ("SEBI Circular"), machines or touch similar devices. without the physical presenceofthe Members at acommon venue. They mainly want to rely on using digi- its platform, making it the fastest-grow- Among other initiatives, where In terms of MCACircular/s and SEBI Circular the Noticeofthe AGMand the Annual Reportfor the Financial year tal payments or quick response (QR) ing insure-tech distributor in India PhonePe plans to use the new funding 2019-20 including the Audited Financial Statements forthe year ended 31st March 2020 ("Annual Report") has been sentonFriday, 04th December,2020, electronically to those Members whose email addresses are codes. within nine months of the insurance is increasing the focus on research and registered with the Company/Depositories/DepositoryParticipants(s) or its Registrar &ShareTransfer Agent “I think we are at the right time and category going live on the app. development. i.e.Link Intime India Private Limited.The requirements of sending physical copy of the Noticeofthe AGMand place because we have millions of these PhonePe plans to launch systematic Its platform called ‘Pay at Stores’ Annual Reporttothe Members have been dispensed with vide MCACircular/s and SEBI Circular. QR codes deployed across the country,” investment plan and insurance pro- allows consumers to find nearby 'kira- Members holding shares either in physical form or in dematerialized form, as on the cut-off date of 18th December,2020 maycast their vote electronically on the OrdinaryBusiness,asset out in the Noticeofthe said Nigam. ducts in the form of sachets. “Next year, nas' or mom-and-pop stores, buy gro- 40" AGMthrough electronic voting system ("remotee-Voting/ e-Voting during AGM")ofNational Securities The Bengaluru-based firm had been we plan to take a lead in the financial ceries, get them delivered and pay DepositoryLimited ("NSDL"). Allthe members areinformed that: out in the market for a long time to raise services market at a mass level,” said remotely. The other initiative is ‘Switch’, (i) the OrdinaryBusiness,asset out in the Noticeofthe 40th AGM, will be transactedthrough voting by a large funding round, but there were Nigam. Digital payments will remain which has been to build a partner app electronic means; rd several challenges. the core part of PhonePe’s business. The ecosystem. It offers its users a conven- (ii) the remotee-Voting shall commenceonWednesday, 23 December,2020 at 9:00 a.m. lST; (iii) the remotee-Voting shall end on Friday, 25th December,2020 at 5:00 p.m. lST; However, after a lot of hardships, it new funding replenishes its war chest ient way to access and engage with mul- (iv) the cut-off date,for determining the eligibilitytovotethrough remotee-Voting or through the e-Voting has been successful at signing a deal to to take on rivals such as Google Pay, tiple apps. system during the 40th AGM, is 18th December,2020; raise $700 million in primary capital at Amazon Pay, and Alibaba-backed To help PhonePe scale up fast, (v) anyperson, who becomes Member of the Companyafter sending the Noticeofthe AGMbyemail and a post-money valuation of $5.5 billion Paytm, which are also making signifi- Flipkart co-founder Binny Bansal is holding shares as on the cut-off date i.e.18th December,2020 mayobtain the login ID and passwordby sending arequest at [email protected] or [email protected]. However, if aperson is already from existing Flipkart investors, includ- cant inroads into the financial services joining an independent board that is registered with NSDL forremotee-Voting then existing user ID and passwordcan be used forcasting vote; ing Tiger Global, led by Walmart, the market as well as payments. already being formed by PhonePe, (vi) Members maynotethat: a) the remotee-Voting module shall be disabled by NSDL afterthe aforesaid world’s largest retailer, according to But what differentiates PhonePe along with the company co-founders date and time forvoting and oncethe vote on aresolution is cast by the Member,the Member shall not people in the know. from the competitors is its ability to Sameer Nigam and Rahul Chari. “M be allowedtochange it subsequently;b)the Members who have cast their vote by remotee-Voting prior to the AGMmay participate in the AGMthrough VC/OAVMFacilitybut shall not be entitled to cast E-commerce firm Flipkart is doing a reach millions of consumers with its “Binny (Bansal) was my boss at their vote again through the e-Voting system during the AGM; c) the Members participating in the AGM partial spin-off of PhonePe, which will financial products and services in rural Flipkart. Over the years, he has become and who had not cast their vote by remotee-Voting,shall be entitled to cast their vote through e-Voting help it to access dedicated, long-term India. It is adding thousands of sales- a dear friend,” said Nigam, adding, “He system during the AGM; and d) aperson whose name is recorded in the Register of Members or in the RegisterofBeneficialOwnersmaintainedby thedepositoriesasonthecut-offdate onlyshallbeentitled capital to fund its growth ambitions, force to get into every ‘taluka’ by the is a good mentor. There are learnings to avail the facilityofremotee-Voting,participating in the AGMthroughVC/OAVMFacilityand e-Voting including going public by 2023. next year. about how he dealt with scaling up during the 40th AGM; One of the ambitions is to deepen its Nigam said many of the competitors Flipkart.” Nigam said despite the chal- (vii) the Noticeofthe AGMand the Annual Reportare available on the websiteofthe Companyathttp:// penetration into financial services, are not interested in going into rural lenges thrown by the pandemic, the olympicoil.co.in/ and the websiteofBSE Limited at www.bseindia.com. TheNoticeofthe AGMisalso whose size could touch $340 billion in India because they're not sure about the entire PhonePe team responded available on the websiteofNSDL at https://www.evoting.nsdl.com; and (viii) In case of anyqueries,you mayrefer the Frequently AskedQuestions (FAQs) forShareholders and e-Voting the next few years. The aim is to provide return on investment, but for PhonePe, incredibly well to keep the business user manual forShareholders available at the download section of www.evoting.nsdl.com or call on toll financial inclusion to 1 billion Indians. it is a home advantage. afloat. free no.: 1800-222-990 or send arequest at [email protected]. or contactMr. AmitVishal,Senior Manager The company plans to tap into “It's intimidating going into rural The new funding is helping the com- National Securities DepositoryLtd.atthe designatedemail IDs: [email protected] or [email protected] at telephone nos.:+91-22-2499 4360, who will also address the grievances connectedwith the voting opportunities ranging from banking, India if you have barely grazed the sur- pany create a tailor-made equity incen- by electronic means.Members mayalso writetothe CompanySecretaryatthe Company'semail address insurance and wealth management to face on engagement with merchants in tive or employee stock ownership plan [email protected].
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