Atlantic, which currently holds 5,48,787 equity shares of Hintastica, has informed the Company that it does not intend to participate in the Rights Issue, and has declined the rights issue offer. Further, having regard to the strategic and commercial implications of dilution of Atlantic's shareholding in Hintastica, Atlantic has informed the Company that it seeks to exit entirely from its investment in Hintastica by way of a sale of all of shares in Hintastica, to the Company and its nominee(s).

Accordingly, the Board of the Company has approved the execution of a Share Purchase Agreement (SPA) for the acquisition of 5,48,787 equity shares of Hintastica, for an aggregate consideration of approximately Rs 2,78,83,867/-.