Board of Technocraft Industries (India) approves buyback of shares

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At meeting held on 10 November 2017

Technocraft Industries (India) announced that the Board of Directors of the Company at its meeting held on 10 November 2017, inter alia, transacted the following:

- Approved Buyback proposal for purchase by the Company of its own fully paid equity shares of Rs.10/- each ("Equity Share") not exceeding 28,00,000 (Twenty Eight Lakhs) Equity Shares at a price not exceeding Rs. 525/- (Rupees Five Hundred Twenty Five only) per Equity Share ("Buyback Offer Price"), for an aggregate amount of Rs. 147 crore (Rupees One Hundred Forty Seven Crores Only) (hereinafter referred to as the "Buyback Offer Size"), (being less than 25% of the total paid-up equity capital and free reserves of the Company as on 31 March 2017) (hereinafter referred to as the "the Buyback") from the shareholders of the Company on a proportionate basis through the tender offer route in accordance and consonance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (the Buy-back Regulations) (including any statutory modification(s) or re-enactment of the Act or Buy-back Regulations, for the time being in force) and the Companies Act, 2013 ("Act").

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