The Board of directors has approved the investment in M/s. Stilonn Valves and Controls Private Limited by way of subscribing 2,43,400 (Two Lakhs Forty Three Thousand Four Hundred) equity shares at a price of Rs. 123.30 Per share, aggregating to Rs. 3,00,11,220/- (Rupees Three Crore Eleven Thousand Two Hundred and Twenty only) in one or more tranches, which is involved in the business of manufacturing and supplying high-precision stainless steel valves and fittings.