The Board of Directors have considered and approved the filing of Draft Letter of Offer with Stock Exchanges for raising funds through issuance and allotment of equity shares for an amount not exceeding Rs. 4,900 Lakhs to the eligible equity shareholders of the Company on the Rights Basis in such proportion and such other terms and price as may be decided by the Board at a later date, as on record date (to be notified subsequently), in accordance with the applicable laws including the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 and the Companies Act, 2013 and rules made thereunder, as amended from time to time ( Rights Issue ).