The Company is currently engaging with a potential investor who has expressed interest in acquiring a majority stake in the Company
The acquisition would involve purchase of shares held by both the promoters and the single largest shareholder, facilitating their complete exit from the Company
The investor has proposed additional infusion of funds through the primary route to strengthen the Company's balance sheet
All proposed actions are subject to requisite approvals
Board Composition Changes
Pursuant to the recommendation of the potential investor, two Independent Directors have already been appointed to the Board
The process of further strengthening the Board, including induction of Executive Directors, shall continue in due course
Board changes are subject to necessary approvals
Expected Outcomes
These measures are expected to result in new ownership of the Company
Complete transition of the existing promoters and the current single largest shareholder
Objectives include safeguarding stakeholder value and ensuring revival of the Company
