Conversion of securities

May 15, 2021

London Stock Exchange

London

Dear Madam, Sirs,

Re: Conversion of partly paid-up equity shares to fully paid-up equity shares

This has reference to our letters dated February 9, 2021, February 23, 2021, March 24, 2021 and April 14, 2021, in relation to the first and final call on the partly paid-up equity shares of the Company.

In this connection, the Stakeholders' Relationship Committee ("Committee"), duly authorized by the Board of Directors of the Company, at its meeting held today approved the conversion of -56,02,985 partly paid-up equity shares of face value ₹10 each (₹2.504 paid-up) into fully paid-up equity shares of face value ₹10 each on which the first and final call money of ₹461/- per share (comprising face value of ₹7.496 per share and securities premium of ₹453.504 per share) has been received. The converted shares will rank pari passu with the existing fully paid-up equity shares and shall be available to trade under the ISIN INE081A01012, subject to completion of necessary corporate actions and receipt of listing and trading approvals.

Further, in relation to outstanding partly paid-up equity shares on which the first and final call money remains unpaid, the Committee approved the sending of a second Reminder-cum-Forfeiture Notice to the holders of such partly paid up equity shares. The period for payment of the first and final call money pursuant to the second Reminder-cum-Forfeiture Notice will be between July 5, 2021 through July 19, 2021.

Further details in this regard will be included in the second Reminder-cum-Forfeiture Notice that will be sent in due course, to the holders of partly paid-up shares, on which the first and final call money remains unpaid.

The meeting commenced at 12 noon (IST) and ended at 12:30 p.m. (IST)

This disclosure is being made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This is for your information and records.