The board of directors of Zuari Industries Limited at its meeting held on September 26, 2023, approved Issue up to 2,000 (Two Thousand) Unlisted, Unrated, Secured, Redeemable, Non-Convertible Debentures of the face value of INR 10,00,000/- (Rupees Ten Lakhs only) each at par, and aggregate nominal value of up to INR 2,00,00,00,000 (Rupees Two Hundred Crores only) ("NCO"), for cash in dematerialised form, on a private placement basis; Availing financial assistance for amount not exceeding INR 1,250.00 million (Rupees One Hundred and Twenty-five Crore Only) ("Facility") from Axis Finance Ltd. (AFL).