Further to our letter dated December 13, 2022 and in accordance with the provisions of Regulation 30 of the SEBI LODR Regulations, we wish to inform you that the board of directors ('Board') of the Company at their meeting held today, i.e. December 16, 2022, approved the raising of funds, through issuance and allotment of equity shares having face value of ? 1 each up to an aggregate amount of ? 350 crores (Rupees Three Hundred Fifty Crores), on rights basis and on such terms (as decided by the Board or a constituted committee of the Board, at a later date) to the eligible equity shareholders of the Company, as on the record date (to be notified subsequently), subject to receipt of regulatory/ statutory approvals