The Board of Directors in its meeting held today, inter alia, discussed and approved a proposal for acquisition of equity shares of M/s. NEO SEMI SG PTE LIMITED (NSPL), Singapore, by way of purchase of existing equity share capital from existing shareholders of 'NSPL' subject to the provisions of Companies Act, 2013 and the Overseas Investments Regulations, Rules and Directions, 2022 as amended from time to time issued by the Reserve Bank of India and other applicable regulations. The Board accorded in principle approval for the aforesaid acquisition and the Board will take final decision on the aforesaid acquisition of equity shares after concluding the negotiations, determining the per share valuation and due diligence of "NSPL' and further terms and conditions of acquisition.