Board of Poddar Developer approves allotment of equity shares under QIP

At meeting held on 23 January 2015

Poddar Developer announced that the Board of Directors of the Company at its meeting held on 23 January 2015, have considered and approved the issue and allotment of 1,110,900 Equity Shares (the "Equity Shares") of face value Rs. 10 each at a price of Rs. 1,125.21 per Equity Share including a premium of Rs. 1,115.21 per Equity Share, to Qualified Institutional Buyers ("QIBs"), under a Qualified Institutions Placement as per Chapter VIII of the ICDR Regulations and Section 42 and 62 of the Companies Act, 2013.

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