1. The Board of Directors, has unanimously approved proposal for Buy Back of fully paid up equity shares of Rs. 5/- each, of the Company ('Buy Back') from the existing Equity Shareholders of the Company as on record date which will be announced in due course of time, on a proportionate basis through 'Tender Offer' method as prescribed under the Securities and Exchange Board of India ('Buy Back of Securities') Regulations, 2018 (the 'Buy Back Regulations') at a price of Rs. 40/-(Rupees Forty Only) per equity share ('Buy Back Price'), aggregating to an amount not exceeding Rs. 7,56,01,080/- ('Offer Size') (being 24.99% of the total paid up share capital and free reserves as on March 31, 2018)excluding any expenses incurred or to be incurred in relation to Buy Back viz. brokerage, applicable taxes such as securities transaction tax, goods and service tax, stamp duty and other incidental and related expenses. 2. The Company proposes to Buy back upto18,90,027Equity Shares of Rs. 5/- each (representing 15.94% of the total paid up Equity share Capital of the Company as on March 31, 2018) at the Buy Back Price.