Pursuant to the approval of the Board of Directors at its meeting held on August 23, 2024 and approval of the members of the Company at their Annual General Meeting held on September 20, 2024 and pursuant to In-principle approvals granted by BSE Limited vide their respective letter dated October 08, 2024, the Board of Directors of the Company in its meeting held on today, has considered and approved the allotment of 5,00,00,00,000 (Five Hundred Crore) equity shares of face value of INR 1.00/(Indian Rupee One only) each on preferential basis to persons belonging to non promoter category ('Allottees') (as per the list enclosed marked as Annexure I), towards conversion of outstanding unsecured loan into equity shares to the extent of Rs. 5,00,00,00,000/- (Rupees Five Hundred Crore Only) at an issue price of INR 1.00/- (Indian Rupee One Only) per Equity Share.