Meeting of the Board of Directors of the Company held on July 9, 2023, approving the issuance of 5,84,57,688 fully paid equity shares of face value of ?1/- each at a price of ? 25/- (including a premium of ?24/- per equity share) by way of rights issue to the existing equity shareholders of the Company in ratio of 1 Rights Equity Share for every 1 fully paid-up equity shares for an amount aggregating to ?14,614.42 lakhs, in accordance with Companies Act, 2013 and the rules made thereunder, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosures Requirements) Regulations, 2018, as amended, and other applicable laws (`Issue). Pursuant to the above referred board approval and as approved by the Rights Issue Committee in its meeting held on January 25, 2024, the company has filed the Draft Letter of Offer dated January 25, 2024, in connection with the issue with Securities and Exchange Board of India (SEBI).