The board of directors at its meeting held today, i.e. Saturday, March 6, 2021, inter-alia, has approved (i) issuance of sponsored ADRs under a Level III/ Depositary Receipts program (not exceeding 15% of the existing share capital of the Company) pursuant to the transfer of underlying equity shares from eligible shareholders of the Company by way of a tender on the Indian exchanges for cash; and (ii) fresh issuance of equity shares for conversion into ADRs/ Depositary Receipts as required under relevant laws in connection with a Level III ADR/ Depositary Receipts program; and/or equity shares under a qualified institutions placement (not exceeding 15% of the post-issue share capital of the Company in aggregate), to augment the long term resources of the Company, which will enhance company's liquidity and broaden its investor base. For details, please refer attachment.