PENNAR INDUSTRIES LTD. - Updates on Subsidiary Company

Pennar Industries Ltd has informed BSE that the Board of Directors of M/s. Pennar Engineered Building Systems Limited, a subsidiary of the Company at its meeting held on September 30, 2014 decided to explore opportunities for the Company to make an Initial Public Offering (IPO) of its Equity Shares. In view of the same, a sub-committee has been formed to do all such acts, deeds and things (including selecting Merchant Bankers, Lawyers, other professionals and agencies) that are necessary for the aforesaid IPO.