Report on Corporate Governance
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Distribution of shareholding as on March 31, 2014

Ordinary Shares

'A' Ordinary Shares

Top shareholders (holding in excess of 1% of capital) as on March 31, 2014

Ordinary Shares

'A' Ordinary Shares

Dematerialisation of shares

The electronic holding of the shares as on March 31, 2014 through NSDL and CDSL are as follows:

Outstanding Securities:

Outstanding Depositary Receipts/Warrants or Convertible instruments, conversion date and likely impact on equity as on March 31, 2014:

Depositary Receipts (Each Depository Receipts represents 5 underlying Ordinary Shares of Rs.2/- each post subdivision of face value of shares in September 2011)

  • 116,321,835 ADSs listed on the New York Stock Exchange.
  • 8,872 GDSs listed on the Luxembourg Stock Exchange.

Foreign Currency Convertible Notes

741 - 4% Convertible Notes (due 2014) of US$100,000 each aggregating US$74.1 million issued in October 2009 may, at the option of the Note holders, be converted into Ordinary Shares of Rs.2/- each at Rs.120.119 per share or ADS/GDS of Rs.10/- each (each ADS represents 5 Ordinary Shares of Rs.2/- each) at Rs.600.595 (Reset Price) at any time into GDSs during November 25, 2009 to October 16, 2014 and ADSs at anytime during October 15, 2010 to October 16, 2014.

Pursuant to the April 16, 2013 announcement on early redemption of outstanding notes on June 10, 2013 at a redemption price equal to US$106,572.52 for every note of US$100,000 each, on the conversion option being received by the Noteholders, the Company converted, all the balance 741 Notes.

The following are the relevant details of the Notes: