Pursuant to Regulation 30 (read with Schedule III - Part A) and further to our letter dated 19/05/2022, we wish to inform the outcome of the meeting of the BOD of the Company held today, 24/05/2022:- The Board of Directors has considered and approved raising of funds through issuance of equity shares of ? 10 each to the eligible equity shareholders of the Company on Rights basis, on such terms and at such price and ratio as may be decided by the Board or a duly constituted committee of the Board at a later date, as on the record date (to be notified subsequently), for an amount aggregating up to ?5,76,27,700/- subject to receipt of regulatory/statutory approvals, in accordance with the applicable laws including the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013 and rules made thereunder, as amended from time to time ('Rights Issue').