Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors has, in its meeting held today i.e. on May 26, 2022, approved the issuance of upto 25,00,000, 0.09% Non-Cumulative Redeemable Non-Convertible Preference shares of Rs.10/-each at par aggregating to Rs. 2,50,00,000/- on private placement basis, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company. The proceeds of the issue will be utilized towards redemption of existing 25,00,000, 0.1% Non-Cumulative Redeemable Non-Convertible Preference shares which are due for redemption on March 24, 2023. The disclosures required to be given pursuant to SEBI circular CIR/CFD/CMD/4/2015 dated September 9, 2015 are enclosed as Annexure-A. You are requested to kindly take the same on record and acknowledge.