Category III Alternative Investment Fund

KUBER INDIA Opportunities Fund

"Where Insight Meets Opportunity"

SEBI REGISTRATION NO. IN/AIF3/25-26/2030

Kuber India Opportunities Fund | Confidential

About Us

"Building India's Future, One Conviction at a Time"

Who We Are

Kuber India Opportunities Fund is a SEBI-registered Category III Alternative Investment Fund (IN/AIF3/25-26/2030) seeking to primarily invest in a concentrated portfolio of high-conviction listed and unlisted Indian equities.

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Sponsor Group

Backed by strong industrial heritage. The Sponsor Group includes the Amrapali Group and the Cure Spects Group, both established conglomerates based out of Ahmedabad, India.

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Investment Focus

We deploy capital through a concentrated, high-conviction strategy. While market cap-agnostic, our mandate allows flexibility across listed and unlisted equities and other permissible asset classes.

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SME & Micro Focus

Capturing early-stage growth alpha. We maintain a minimum 25% equity exposure to micro and SME companies, reflecting our commitment to India's emerging enterprise ecosystem.

Kuber India Opportunities Fund | Confidential

Investment
Philosophy

"A Disciplined Framework for Superior Risk-Adjusted Returns"

INVESTMENT PHILOSOPHY

The GQP Framework

Quality

Capital efficiency, market share, management pedigree, and pricing power drive durable long-term compounding and significantly lower investment risk.

Growth

Primary focus on growth prospects at company, sector, and macro levels. In smaller companies, faster growth justifies higher risk.

Price

Entry price is the final arbiter of returns. We maintain strict valuation discipline to ensure favorable price-value gaps.

GQP

FRAMEWORK
G
Q
P
"Every investment decision at Kuber passes through the lens of Growth, Quality, and Price."
G
— INVESTMENT PHILOSOPHY / GROWTH

The Raison d'Être of Smaller Companies

As a fund with a bias toward smaller companies, we place primary focus on growth. Faster growth is the raison d'être of smaller companies and remains the key justification for accepting higher inherent risks in small/microcap investing.

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    Company: Earnings trajectory, execution capabilities, and product-market fit.
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    Sector/Industry: Cyclicality, consolidation trends, formalization, and penetration runway.
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    Macro: India growth premium, government policy support, and structural tailwinds.

"Growth is not just a metric — it is the very reason we invest in emerging businesses."

KUBER INDIA OPPORTUNITIES FUND | CONFIDENTIAL

INVESTMENT PHILOSOPHY / QUALITY

The Engine of Long-Term
Compounding

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Capital Efficiency

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Market Share

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Cost Structure

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Management Pedigree

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Customer Quality

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Pricing Power

"High-quality businesses not only compound better — they carry meaningfully lower risk."
Q
P
— INVESTMENT PHILOSOPHY / PRICE

The Final Arbiter of Investment Returns

Price is an absolutely critical parameter — especially in smaller companies. The price we pay for a business goes a long way in determining superior or inferior investment outcomes, even if business outcomes are divergent.

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    Valuation Rigor: Strict adherence to entry price discipline and margin of safety to protect downside risk.
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    Risk-Adjusted Returns: Focus on favorable price-value gaps rather than chasing momentum at any cost.
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    Avoid Overpaying: Insisting on reasonable valuations even for high-growth businesses to ensure compounding.

"Even an exceptional business, purchased at the wrong price, can deliver disappointing returns. Price discipline is non-negotiable."

KUBER INDIA OPPORTUNITIES FUND | CONFIDENTIAL
SYNTHESIS STRATEGY OVERVIEW

The Kuber Investment Framework

G

Growth

WHERE WE LOOK

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Multi-level Analysis: Company + Sector + Macro alignment
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Trajectory: Focus on earnings scalability and operating leverage
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Opportunity: TAM expansion and sector formalization
Q

Quality

WHAT WE ASSESS

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Durability: Sustainable competitive advantages and moats
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Efficiency: Superior return on capital employed (ROCE)
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Stewardship: Management integrity and capital allocation skills
P

Price

WHAT WE PAY

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Discipline: Strict entry valuation rigor irrespective of quality
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Safety: Adequate margin of safety for downside protection
%
Returns: Focus on risk-adjusted return potential

KUBER INDIA OPPORTUNITIES FUND

ABOUT THE TEAM

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Chirag Thakker

Promoter, Amrapali Group

Chirag Thakker is the promoter of Amrapali Group — a diversified business group with leading operations in real estate, hospitality, bullion, textiles and financial services, amongst others.

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Vismay Shah

Promoter, Cure Spects Group

Vismay Shah is the promoter of Cure Spects Group, a leading chain of ophthalmology clinics in the state of Gujarat. He is responsible for financial management activities of the group.

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Akash Jhaveri

Fund Manager, Kuber India Opportunities Fund

Akash Jhaveri is fund manager for Kuber India Opportunities Fund. He brings close to 15 years of experience in equity research, financial analysis and product management.

FUND OVERVIEW

PARTICULARS DESCRIPTION
Category of Fund Open-ended Category III Alternative Investment Fund
Benchmark NSE 500
Target Fund Size ₹250 Crores
Management Fees Upto 2.0% per annum
Hurdle Rate Upto 15.0% per annum
Performance Fees Upto 20% per annum above hurdle rate (with high watermark)

* Fund overview is comprehensively detailed in the Private Placement Memorandum (PPM)

FUND GOVERNANCE & INFRASTRUCTURE

Institutional-grade infrastructure underpinning the Fund

FUND ACCOUNTANT

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The Ascent Group

Provides comprehensive fund accounting, NAV computation, investor reporting and financial statement services to the Fund.

CUSTODIAN

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DBS Bank

DBS Bank serves as the custodian for the Fund's securities and assets, ensuring safekeeping and settlement of transactions.

TRUSTEE

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Catalyst Trusteeship Services

Catalyst Trusteeship Services acts as the independent trustee, overseeing fund governance and protecting investor interests.

DISCLAIMER

This presentation is being furnished on a confidential basis to a limited number of sophisticated investors for the purpose of providing certain information about Kuber India Opportunities Fund (the "Fund"). This presentation has been prepared by Kuber India Opportunities Fund, a SEBI-registered Category III Alternative Investment Fund (Registration No. IN/AIF3/25-26/2030).

This presentation is for information and discussion purposes only and has been provided to the recipient upon the express understanding that the information contained herein, or made available in connection with any further investigation, is strictly confidential and intended for the exclusive use of its recipient.

This presentation is neither a prospectus nor an offer to sell or a solicitation of an offer to purchase any units of the Fund. Any such offer or solicitation shall only be made pursuant to a final confidential private placement memorandum of the Fund which will contain numerous disclosures concerning the risks of investing.

Certain information contained herein has been obtained from published sources and/or prepared by third parties. While such sources are believed to be reliable, the Fund does not accept any responsibility for the accuracy or completeness of third-party information. Past performance is not indicative of future results. Investors should be aware of risks including illiquidity, which is a characteristic of the Fund.

Nothing in this presentation is intended to constitute legal, tax, securities or investment advice. The use of any information set out in this presentation is entirely at the recipient's own risk. Investors are advised to carry out their own due diligence and seek independent professional advice to understand all attendant risks attached to an investment in the Fund.