The Company has, on 31st March, 2006, allotted 1,04,16,000 equity shares of Rs.10 each for cash at a price of Rs.573 (including a premium of Rs. 563) per Share to the Promoters viz. AAA Project Ventures Private Limited, against the outstanding warrants issued on 2nd August, 2005. These Shares will be subject to lock in up to 1st August 2006.

Consequent upon the said allotment, the paid-up Capital of the Company stands increased to 21,23,20,251 fully paid up equity shares of Rs.10 each and the net worth will increase to approximately Rs.6,954 crore.