The Board of Directors of Solex New Energy Private Limited (Wholly Owned Subsidiary) of Solex Energy Limited has inter alia considered and approved issuance of Compulsorily Convertible Debentures (CCDs) with an option to convert the said CCDs into Equity Shares of Solex Energy Limited (Swap Shares) aggregating to INR 150 Crores in one or more tranches subject to the terms and conditions specified therein and completion of applicable statutory and regulatory formalities.