This is with reference to our letters dated February 27, 2019, March 1, 2019 and March 25, 2019, with respect to issuance of Equity Shares and Warrants to the Promoter of the Company, i.e. Tata Steel Limited, on a preferential basis. In this connection, we wish to inform you that the Committee of Directors (the 'Committee') at its meeting held today, i.e. March 28, 2019 has approved allotment of: i. 27,97,000 Equity Shares at a price of ?642 per Equity Share aggregating to ?179,56,74,000; and ii. 34,92,500 Warrants at a price of ?642 per Warrant, with a right exercisable by the Warrant holder to subscribe for one equity share per Warrant of face value of ?10 each, aggregating to ?224,21,85,000. The Warrants may be exercised by the Warrant holder, in one or more tranches, at any time on or before the expiry of 18 months from the date of allotment of the Warrants; to Tata Steel Limited on a preferential basis, on terms and conditions as approved by Board/ Committee of the Board. Pursuant to the allotment, the paid-up share capital of the Company stands increased from 2,52,88,000 Equity Shares to 2,80,85,000 Equity Shares and the percentage holding of Tata Steel Limited stands increased from 50.09% to 55.06%. This disclosure is made in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This is for your information and records.