Outcome of Board Meeting

• Security Code: 500185
• Company: HCC

This is further to the meeting of the Board of Directors of the Company held on September 5, 2018 approving the issue of equity shares of the Company of face value ? 1 each ('Equity Shares') by way of a rights issue to the existing shareholders of the Company as on the record date for an amount not exceeding ? 500 crores in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended and other applicable laws (the 'Issue') and the draft letter of offer dated September 12, 2018 filed with the Securities and Exchange Board of India and the stock exchanges where the Equity Shares of the Company are listed.

In relation to the Issue, the Rights Issue Committee, at its meeting held on November 12, 2018 has approved the terms of the Issue as follows:

1. Issue Price: ? 10 per Equity Share (including a premium of ? 9 per Equity Share)
2. Rights entitlement ratio: 49 Equity Shares for every 100 fully paid-up Equity Share held by the eligible shareholders of the Company as on the record date.

The Rights Issue Committee has also approved the schedule for the Issue as follows:

1. Issue opening date: December 03, 2018;
2. Issue closing date: December 17, 2018 ; and
3. Last date for receiving requests for the split application forms: December 10, 2018.

Further, the Rights Issue Committee has fixed the record date for purpose of determining the shareholders eligible to apply for the Issue as November 22, 2018. .

The meeting of the Rights Issue Committee commenced at 11.00 a.m. and completed at 12.50p.m. .

We request you to take this on record, and to treat the same as compliance with the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended