Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations), we wish to inform you that the Board of Directors of the Company vide circular resolution passed on June 16, 2023 has considered and approved the allotment of 17,92,453 Equity Shares of face value Rs. 10/- each for cash at a price of Rs. 53/- per equity share (including a premium of Rs. 43/-per equity share) for an amount aggregating to Rs. 9,50,00,009 (25% of subscription amount received at the time of allotment of warrants and balance 75% received upon exercise of option to convert warrants) to M L Dahanukar & Co Pvt Ltd., Investor (Promoter Group) consequent upon conversion of 17,92,453 warrants of Rs. 53/- per warrant (including a premium of Rs. 43/- per warrant) into equity shares and upon receipt of full subscription amount.