This will be accomplished through the issuance of convertible equity warrants via Preferential Issue, subject to the necessary statutory and regulatory approvals. The approval process includes seeking the nod from the shareholders of the company, wherever required.

The funds will be raised through issue and allotment of up to 3,55,05,000 warrants, being each warrant convertible into 1 (one) Equity Share of the face value of Rs. 2/- each on preferential basis at an issue price of Rs. 155/- including premium of Rs. 153/- per warrant. The total fund to be raised amounts to Rs. 550 crore.