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| Exchange Received Time 25/04/2018 15:04:54 Exchange Disseminated Time 25/04/2018 15:05:01 Time Taken 00:00:07 | We refer to our letter dated April 21, 2018 on aforesaid subject. Pursuant to the Reg 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, we hereby inform you that Board of Directors at its meeting held today inter-alia decided the following:
1. To incorporate 2 Wholly owned Subsidiary Companies.
2. To increase the manufacturing capacities of the Company to meet rising future demand.
3. To engage M/s. KMPG in total implementation of project.
4. To invest Rs. 400 Crores (Rs. 200 Crores each) in these Companies from internal accruals and borrowings.
Meeting started at 10:30 AM and concluded at 2:30 PM.
Please take the above on record and acknowledge the receipt.
Thanking you,
For Kitex Garments Limited
Sabu M. Jacob
Chairman & Managing Director
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