With reference to the captioned subject, we wish to inform you that the Board of the Directors of the Company at their meeting held today i.e., April 12, 2023 at the Registered Office of the Company have considered and approved to raise additional capital to the extent of Rs. 15 Crores through Preferential Issue of Equity Shares/ Convertible Warrants to Strategic Investors as per Section 42, 62 of the Companies Act, 2013 and as per the SEBI (Issue of Capital and Disclosure Requirement) Regulation, 2018. Further, the Company in its subsequent Board Meeting will finalize the Preferential Issue of Equity Shares and approve the Notice of Extra Ordinary General Meeting of the Company for Preferential Issue. Please note that the Board Meeting commenced today at 3.00 P.M. and concluded at 4:00 P.M.