Outcome of board meeting of Advanta

Held on 31 December 2015

Advanta announced that the Board of Directors of the Company at its meeting held on 31 December 2015, inter alia, have transacted the following items of business:

1. Approved the conversion of 25 Foreign Currency Convertible Bonds (FCCBs) into Global Depository Receipts (GDRs).

2. Approved the allotment of 39,72,070 equity shares of Rs. 2 each to JP Morgan Chase Bank, NA - Depository Bank, to issue appropriate GDRs.

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