Please find enclosed herewith the Draft Letter of Offer for proposed Buy-back of up to 33,50,000 (Thirty Three Lakhs Fifty Thousand) fully paid up Equity Shares of the Company of face value of Rs. 10/- (Rupees Ten Only) which represents 23.74% of the total paid up equity shares of the Company, at a price of Rs. 20/- (Rupees Twenty Only) per Equity Share payable in cash for an aggregate amount not exceeding Rs. 6,70,00,000/- (Rupees Six Crores Seventy Lakhs Only) from equity shareholders/ beneficial owners of the Equity Shares of the Company as on Record Date, i.e., Wednesday, February 12, 2020 on a proportionate basis through the Tender Offer process using Stock Exchange Mechanism.
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