The Board of Directors ("Board") of Rajapalayam Mills Ltd at their meeting held on 30-10-2021 had given their approval for Capacity addition of 166 Nos. of Looms and establishment of Fabric finishing process with a capacity of 50,000 meters per day at an estimated Project cost of Rs.330 Crores. The mode of finance will be term loan / equity capital / other sources as may be decided by the Board from time to time. In addition to the above, the Board, in their subsequent meetings had also approved other Capital expenditure proposals for modernizing the Spinning Mills, establishment 110 KVA substation to cater the power requirement of proposed Fabric processing Unit, expanding the capacities of Two for One (TFO) machine capacity and the total Project Cost stands revised as Rs.430 Crores. The Company has tied up necessary Term Loans from Banks. To part fund the projects, the Board, at their meeting held on 27-01-2022 had given its approval for raising of funds by way of Rights issue of Equity Shares upto the value of RS.60 Crores. Now, for funding the balance amount of projects and the incremental cost of modernization, the Board at their meeting held today (23-2-2022) has decided to sell further investments held by the Company in the shares of M/s. The Ramco Cements Limited upto a value of Rs. 80 Crores. Term Loan from Banks - Rs. 280 crores Raising of Fund through Equity - Rs. 60 crores. Sale of M/s. The Ramco Cements Limited Shares to M/s. Ramco Industries Limited (inter-se transfer among Promoter) * - Rs. 10 crores Sale of M/s. The Ramco Cements Limited Shares to Public in single or multiple tranches - Rs. 80 crores Based on the approval of the Board of Directors dated 27-01-2022, the Company has sold 1,13,050 Shares to Mis. Ramco Industries Limited on 07-02-2022 for a net consideration of RS.9.97 Crores. Shares of RAJAPALAYAM MILLS LTD. was last trading in BSE at Rs. 940.90 as compared to the previous close of Rs. 952.25. The total number of shares traded during the day was 2579 in over 171 trades. The stock hit an intraday high of Rs. 974.80 and intraday low of 925.55. The net turnover during the day was Rs. 2446101.00.

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