This is in furtherance to our letter dated September 24, 2021, informing about the decision of Board of the Company to Buyback up-to 22,67,400 (Twenty Two Lakh Sixty Seven Thousand Four Hundred) fully paid-up equity shares of Rs. 10/- (Rupees Ten Only) each of the Company ('Equity Shares') representing 7.81% of the Total Paid-up Equity Share capital of the Company at a price of Rs. 700/- (Rupees Seven Hundred Only) per Equity Share ('Maximum Buyback Price') payable in cash for an aggregate amount not exceeding Rs. 158,71,80,000/- (Rupees One Hundred Fifty Eight Crore Seventy One Lakh Eighty Thousand Only) ('Maximum Buyback Offer Size'), excluding transaction costs, which represents 24.90% and 24.01% of the aggregate of the Fully Paid-up Equity Share capital and Free Reserves as per the latest audited standalone and consolidated balance sheet of the Company, respectively, as at March 31, 2021.
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