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| Exchange Received Time 28/05/2019 15:24:23 Exchange Disseminated Time 28/05/2019 15:24:29 Time Taken 00:00:06 | We write in furtherance to our letter dated July 25, 2018 (enclosed as Annexure A) wherein we informed about the investment of INR 130,00,04,640 (Rupees One Hundred and Thirty Crore Four Thousand Six Hundred and Forty only) to be made by the Company in Ather Energy Private Limited ('Ather') through compulsorily convertible debentures ('CCDs'). At the time of the abovementioned disclosure, the post investment shareholding percentage of the Company in Ather was not determined, as it was to be based on the valuation of Ather in the next funding round.
In this regard, we wish to inform that the next funding round of Ather has now been completed and simultaneous with the completion of this round, the CCDs issued to the Company have been converted into compulsorily convertible preference shares ('CCPS'). Post the aforesaid corporate actions, the shareholding of the Company in Ather, has increased to 35.10% (31.27% on a fully diluted basis) from 32.31% (29.94% on a fully diluted basis). |
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