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| Exchange Received Time 06/09/2018 11:17:48 Exchange Disseminated Time 06/09/2018 11:17:56 Time Taken 00:00:08 | Dear Sir,
We refer to our earlier disclosure dated July 4, 2018 under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, wherein it was decided to sell 12,00,000 equity shares of Sayaji Sethness Limited of the face value of Rs.10/- each held by the company, being 40% of the equity capital of Sayaji Sethness Limited to Sethness Products Company USA, the joint venture partner of the company, for an aggregate consideration of the INR equivalent to USD 32,00,000 subject to completion of agreed conditions. The details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015 were also given in annexure A to the aforesaid letter.
We now disclose that the company has completed the sale of 12,00,000 equity shares of the face value of Rs.10/- per share and has received a consideration of USD 32,00,000 on September 5, 2018.
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