Outcome of Board Meeting

Allotment of 37,00,000 (Thirty-Seven Lakh) fully convertible equity warrants ( Warrants ), each Warrant being convertible into or exchangeable for one (1) fully paid-up equity share of the Company having a face value of Rs. 2/- (Rupees Two only) each ( Equity Share ), at an issue price of Rs. 58/- (Rupees Fifty-Eight only) per Warrant, including a premium of Rs. 56/- (Rupees Fifty-Six only) per Warrant, aggregating to Rs. 21,46,00,000/- (Rupees Twenty-One Crore Forty-Six Lakh only), upon receipt of Rs. 5,36,50,000/- (Rupees Five Crore Thirty-Six Lakh Fifty Thousand only), representing 25% of the total issue price as upfront consideration, to the Promoters and Promoter Group of the Company on a preferential basis.