Dear Sir/Madam, This is in furtherance to our outcome dated May 29, 2023 in relation to the proposed Rights Issue of Equity Shares the Company for an amount not exceeding Rs.50/-crores in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ('SEBI ICDR Regulations') and other applicable laws ('Rights Issue'). We wish to inform you that the Board of Directors of the Company (Board) in its meeting held today i.e. June 24, 2023, has considered and approved the Draft Letter of Offer in relation to the proposed Rights Issue of the Company and filing of the same with the Securities and Exchange Board of India ("SEBI") for their observations (if any) and with BSE Limited (the "Stock Exchange") for their in-principle approval for listing of the Rights Equity Shares on their exchanges. The same has been prepared solely for the purpose of Rights Issue in accordance with SEBI ICDR Regulations, 2018.