The Board of Directors of the Company, at its meeting concluded today, inter alia, has approved Buyback upto 7,800,000 fully paid equity shares of Rs. 2/- each of the Company (Equity Shares) (being 2.79% of the total paid-up equity capital of the Company) at a price of Rs. 500/- (Rupees Five Hundred only) per Equity Share (Buyback Offer Price), for an aggregate amount not exceeding Rs. 3,900 million (Rupees Three Thousand and Nine Hundred million Only) (hereinafter referred to as the Buyback Offer Size) (being less than 25% of the total paid-up equity capital and free reserves of the Company as on March 31, 2022, both on standalone and consolidated basis)., subject to the approval of the shareholders.