With reference to Regulation 76(3) of the SEBI (LODR) Regulations, 2015 and Annexure II of circular no. CIR/CFD/CMD/9/2015 dated November 4, 2015 issued by the Securities and Exchange Board of India in relation to two-way fungibility of IDRs, the Company had provided the option of redemption of all outstanding IDRs into ordinary shares of the Company ('Shares') on a continuous basis from March 1, 2016 (the 'Fungibility Programme'). Further to our intimation letter of March 3, 2020, this is to bring to your notice that no valid withdrawal orders were received from the IDR holders, under the said Fungibility Programme, from March 1, 2020 - March 17, 2020, in accordance with the process laid down in the updated operating guidelines for such Fungibility Option. Separately, on account of the launch of the 'Termination Process' for the outstanding IDRs, the Fungibility Programme stood terminated with effect from March 18, 2020. We request you to kindly take note of the above.