In pursuance of Reg.30 and further to our letter dt. Sep 29 2021 regarding sale / transfer of 15 00 000 eq. shares of Rs.10 each of SUN Mobility EV Infra (P) Ltd (Joint Venture company- hereinafter referred as JVCO) by the Company to EPIC Mobility Technologies Pte Ltd. (JV Partner - hereinafter referred as Purchaser) at IRR of 15% pre-tax or Fair Market Value (whichever is higher) we would like to inform you that the equity shares of Rs.10 each have been transferred at a price of Rs.14.642 per share (Total amt Rs.2.20 crore) on 18 Oct 2021.
Further please note that
-The 1 20 00 000 OCRPS of Rs.10/- each of JVCO held by the Company have been redeemed on 18 Oct 2021 at a price of Rs.14.642 per share (Total amt Rs.17.57 crore)
-Mr. Vijay Shrinivas who was a representative Director of the Company on the Board of JVCO has resigned from the Board of JVCO w.e.f. 18 Oct 2021 as the Company is not holding any share capital of the JVCO w.e.f. 18 Oct 2021.
Kindly take this on record.
Ask Value Research 
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