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Stock Exchange amended format assumes that each Stock Appreciation Right ("SAR") will be converted into equivalent number of shares. However, it is clarified that the aforesaid assumption doesn't apply to our SAR Scheme and the number of resultant equity shares upon exercise of SARs would vary and will depend on the appreciation in the price of equity shares from the date of grant of each SAR. Further, pursuant to the approval of the shareholders, the Company can allot a maximum of 25,00,000 equity shares against the SARs. Out of this limit, 1,33,841 equity shares have already been allotted upon exercise of SARs in past. Accordingly, against the outstanding SARs of 30,00,000, the Company can allot a maximum of 23,66,159 further equity shares. 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