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| Exchange Received Time 24/08/2017 17:56:55 Exchange Disseminated Time 24/08/2017 17:57:03 Time Taken 00:00:08 | This is in furtherance to our letter dated 7th August, 2017 wherein we have informed you that, the Board of Directors, of the Company approved for the Offer for Sale of shares of its subsidiary company, Future Supply Chain Solutions Limited ('FSCSL'), and participation of the Company upto 5% of paid up capital of FSCSL.
FSCSL has informed the Company that it has filed the Draft Red Hearing Prospectus (DRHP) with the Securities and Exchange Board of India ('SEBI') for a public offer of up to 97,84,570 Equity Shares representing 25% of the existing issued and paid-up equity share capital of FSCSL for cash, through an Offer for Sale of up to:
1. 19,56,914 Equity Shares held by the Company in FSCSL representing up to 5% of the existing issued and paid-up equity share capital of FSCSL;
2. 78,27,656 Equity Shares held by Griffin Partners Ltd. (other participating shareholder) in FSCSL representing up to 20% of the existing issued and paid-up equity share capital of FSCSL.
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