This is to inform that our wholly owned subsidiary, Instant Holdings Limited (\Instant\) has entered into an agreement (hereinafter referred as \ Memorandum of Understanding or: \MOU\) with Kojak Knits Private Limited to sell Instant's entire shareholding in its wholly owned subsidiary, Sudarshan Electronics & TV Limited. The transaction would be subject to fulfillment of certain conditions set out in the MOU and the signing of a share purchase agreement by the parties.