We would like to inform that Innovators Engineering Works Private Limited (IEWPL), Wholly Owned Subsidiary of Innovators Facade Systems Limited had an investment in Compulsory Convertible Debentures (CCD) of Innovators Contracting Works Private Limited (Formerly Known as Innovators Cleantech Private Limited). Pursuant to the terms of conversion 156,041 CCD of face value Rs. 1000/- each has been converted into 9,69,198 Equity Shares of Rs. 10/- each at an issue price of Rs.161/- per share and alloted to IEWPL. Consequently, Innovators Contracting Works Private Limited (ICWPL) has become an associate company of Innovators Engineering Works Private Limited.