The board thus considered and approved 1. The allotment of 1,68,83,117 (One Crore Sixty Eight Lakh Eighty Three Thousand One Hundred and Seventeen Only) Equity Shares of Face value Rs.2/- each of the company , upon receipt of conversion notice from the bond holders for conversion of 10 Nos, 1% Unsecured Foreign Currency Convertible Bonds,(FCCBs) of US$ 100,000 each (Converted at 1 US$=INR 65) based on the terms laid out in the offering circular dated 09th July 2018, at an issue price of Rs.3.85/- (Rupees Three and Paise Eighty Five Only) , calculated based on the pricing formulae as prescribed in the aforementioned Offering Circular. 2. The Board has deferred the issue of Equity Shares to Mrs. Rajeswari (Promoter) legal heir of late Mr.P.C.Pantulu,Promoter, Ex Chairman & CEO of the Company, on Preferential basis. The allotment will be taken up again at an appropriate time, which will be communicated to the Stock Exchanges in due course.