Further to the intimation dated 11th November 2019 this is to inform you that the Board of Directors at its meeting held today i.e. 15th November 2019 has inter alia in supersession of the Board approval dated 19th September 2019 and shareholders approval dated 30th September 2019 approved issue of 2 15 00 000 warrants convertible into 2 15 00 000 equity shares of Rs. 10/- each on preferential basis to promoter/promoter group and others (i.e. persons/entities not forming part of the promoter and promoter group) in compliance with applicable provisions of SEBI ICDR Regulations 2018 subject to the approval of the shareholders of the Companyand such other regulatory/statutory approval as may be required.
Each warrant is convertible into one (1) equity share and the conversion can be exercised at any time during the period of 18 months from the date of allotment of warrants on suchother terms and conditions as applicable.
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