The company plans to utilize the sale proceeds for the following purposes:

(i) repayment of outstanding facilities of lenders of the Company (including lenders forming part of the corporate debt restructuring mechanism) and certain of its subsidiaries on such terms and conditions as may be agreed;

(ii) redemption of outstanding foreign currency convertible bonds subject to receipt of necessary regulatory approvals; and

(iii) redemption of outstanding preference shares on such terms as may be agreed between the preference shareholders and the Company and as per applicable law.