Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that United Shippers Limited, a Wholly owned subsidiary, has entered into an agreement to sell its entire holding of 11,56,320 Equity Shares of Shakti Clearing Agency Private Limited, a step-down subsidiary of the Company. Consequent upon the said sale, Shakti Clearing Agency Private Limited shall cease to be a step-down Subsidiary of the Company. Further, Shakti Clearing Agency Private Limited is not a material subsidiary as per the provisions of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.