We are pleased to inform you that the Company has received an intimation on September 25, 2023, that the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has granted its approval for acquisition of upto 76.1% shareholding in the Company by M/s. Berhyanda Limited, Cyprus (Acquirer) by way of transfer of 12,75,37,043 equity shares aggregating to 50.1% of shareholding in the company from promoters of the Company and acquisition of up to 6,61,86,889 equity shares aggregating to 26% of shareholing in the Company from public shareholders through mandatory open offer. The aggregate foreign investment, including investment from other foreign investors may be up to 90.1% shareholding in the Company.