We hereby inform you that the Board members of the Company at its meeting held on 5/8/22,
approved the Draft Letter of Offer (&quot;DLOF&quot;) for raising of funds through issuance and allotment of fully
paid up equity shares of ? 10 each ('Equity Shares') to the eligible equity shareholders of the Company
on a Rights basis, on such terms and at such price and ratio as may be decided by the Board at a later date,
as on the record date (to be notified subsequently), for an amount aggregating upto ? 800 Lakhs , subject
to receipt of in-principle approval of BSE Limited, in accordance with the applicable laws including the
provisions of the SEBI ICDR Reg, 2018, SEBILODR Reg 2015 & Companies Act, 2013 and rules made thereunder, as amended from time to time ('Rights Issue'), date to be decided by Merchant Banker, for the submission of the same to the Stock Exchange where the equity shares of the Company are listed.