This is in continuation to our announcements dated September 11, 2021 & October 14, 2021, with regard to the Rights Issue of 4,41,04,800 (Four Crores Forty One Lakhs Four Thousand Eight Hundred) fully paid-up Equity Shares of face value of Rs. 10 each ('Rights Equity Shares') for cash at a price of Rs. 11 each per Rights Equity Share ('Issue Price') for an aggregate amount up to Rs. 48,51,52,800 (Rupees Forty Eight Crores Fifty One Lakh Fifty Two Thousand Eight Hundred Only) in the ratio of 8:1 i.e. 8 (Eight) rights Equity Share for every 1 (One) fully paid-up Equity Share, in terms of SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018 and applicable provisions of the Companies Act, 2013.
With reference to above, we wish to inform you that Board of Directors of the company at their meeting held on today i.e., December 18, 2021 has inter-alia approved draft letter of offer and same has been filed with BSE Limited for its in-principle approval.