Pursuant to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), we hereby inform you that the Board of Directors of the Company at its Meeting have inter-alia, considered and approved the Draft Letter of Offer ("DLOF") for raising of Funds by way of Right Issue of equity shares of the Company of face value Rs. 10/- (Rupees Ten Only) each at such price, at a premium or discount to the market price such that the aggregate value (including premium, if any) does not exceed Rs. 50,00,00,000/- (Rupees Fifty Crore Only), to the eligible equity shareholders of the Company as on record date (to be determined by the Board in due course) subject to receipt of statutory/regulatory approvals, as may be applicable in accordance with the relevant regulations, circulars, notifications issued by the Securities and Exchange Board of India and any other law as may be applicable.