With reference to the SEBI circular dated November 26, 2018 with regard to fund raising by issuance of debtsecurities by large entities, we hereby confirm that we, IFL Enterprises Limited is not identified as a Large Corporate ason March 31, 2025, as per the applicability criteria given under the SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 datedNovember 26, 2018.