we hereby inform you that the Board of Directors in their meeting held today i.e. April 12, 2024 at the Registered Office of the Company situated at 808 - C, Pinnacle Business Park, Corporate Road, Prahladnagar, Ahmedabad - 380015 Gujarat which commenced at 5:00 P.M. and concluded at 7:00 P.M. inter-alia has considered and approved issue of up to 80,00,000 Equity Shares of face value of Rs. 10.00/- each for cash at an Issue Price of Rs. 35.00/- per Equity Share aggregating up to Rs. 28,00,00,000/- to all the existing eligible Equity shareholders of the Company on Rights ('Rights Issue'). The brief term of Rights Issue is approved by the Board is attached herewith as Annexure - I.