At the meeting of the Board of Directors ('Board') of the Company held on November 14, 2019, the Board has approved a proposal for the buyback of 2,02,81,009 (Two Crore Two Lakh Eighty One Thousand Nine) equity shares of Rs. 10 each at a price of Rs. 152/- (Rupees One Hundred and Fifty Two only) representing 7.87% of the total number of equity shares in the paid-up share capital of the Company from the shareholders of the Company in terms of Sections 68, 69, 70 and other applicable provisions, if any, of the Companies Act, 2013 and rules made thereunder and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 ('Buyback Regulations') ('Buyback'). In compliance with Regulation 5(vii) of the Buyback Regulations, we are enclosing herewith a copy of the board resolution passed at the meeting of the Board on November 14, 2019. The Company will provide relevant updates in relation to the Buyback as per applicable law in due course.