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Outcome of the Share Buyback Committee meeting held on January 23, 2018

The Share Buyback Committee of Board of Directors of the Company at its meeting held on January 23, 2018, inter-alia, determined the Final Buyback Price of ₹ 2,000 /-(Rupees Two Thousand Only) (the “Buyback Price”) and the final amount for Buyback to be ₹ 2,580 million (Rupees Two Thousand Five Hundred and Eighty Million Only) (the “Buyback Size”) excluding the transaction costs viz. brokerage, applicable taxes such as securities transaction tax, GST, stamp duty etc. With the Buyback price of ₹ 2,000/-(Rupees Two Thousand Only) and Buyback Size of ₹ 2,580 million (Rupees Two Thousand Five Hundred and Eighty Million Only), the total number of shares to be bought back in the Buyback shall be 1,290,000 Equity Shares, representing about 3.24% of the total issued and paid-up equity capital of the Company as on March 31, 2017

The aforesaid terms of Buyback are within the maximum limits approved by the Board of Directors at its meeting held on December 22, 2017, and as approved by shareholders by special resolution, through postal ballot, results of which were announced on January 23, 2018.

The Company shall publish the Public Announcement and file the Draft Letter of Offer with Securities and Exchange Board of India and the stock exchanges as may be required under SEBI (Buyback of Securities) Regulations, 1998, in due course.

In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 9(1) of SEBI (Buy-back of Securities) Regulations,1998, and other applicable provisions, the Share Buy-back Committee of the Board of Directors, further approved Monday, February 5, 2018 as ‘Record Date’ to determine:
i. The shareholders who would be eligible to participate in the Buy-back
ii. The shareholders to whom the Letter of Offer and Tender Offer Form will be delivered in relation to the Buy-back
iii. The entitlement of equity shareholders in the Buy-back

January 23, 2018
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