This is to inform you that the Board of Directors of the Company at its meeting held today, i.e. 20th February, 2024, inter alia, has approved the following:\r\n\r\n1. The Board has approved expansion project and estimated project cost for expansion will be Rs. 33 Crores, including purchase of Land, Construction of Building, Plant & Machinery and other Infrastructure.\r\n\r\n2. Out of Rs. 33 Crores, Rs. 8 Crores to be raised from bank by way of borrowings.\r\n\r\n3. Board has decided to issue new 99,99,238 equity shares having face value of Rs. 10/- each at a premium of Rs. 15/- per share by way of Rights Issue to the existing shareholders of the Company at an issue price of Rs. 25/- per equity share in the ratio of 1:2 i.e. 1 (one) new Right Share for every 2 (two) existing Equity Shares held by the eligible shareholders.\r\n\r\nThe Board Meeting commenced at 3.00 p.m. and concluded at 4.00 p.m.