Prakash Industries Ltd. — Capital/Financing Update 2021

Nov 18, 2021

Prakash Industries Limited

Srivan, Bijwasan, New Delhi -110061 CIN: L27109HR1980PLC010724 Tel.: 25305800, 28062115 Fax: 91-11-28062119 E-mail : pilho@prakash.com Website : www.prakash.com

Pl L/SE/PR/2021

Listing Department BSE Ltd. Dalal Street Mumbai

181 h November, 2021

Listing Department National Stock Exchange of India Ltd Sandra (E) Mumbai

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Company Code : 506022 Company Symbol : PRAKASH

Sub: Press Release

Dear Sir/ Madam,

In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing a press release given today by the Company for your information and record.

Thanking you,

Yours faithfully, For Prakash Industries Limited

Ashwini Kumar Company Secretary

Encl. as above

PRESS RELEASE

Date: 18th November, 2021

PRAKASH INDUSTRIES LIMITED

Vesting Order for Bhaskarpara Coal Mine

The Company is pleased to inform that the Nominated Authority, Ministry of Coal, Government of India has today issued the Vesting Order in its favour with respect to the Bhaskarpara Coal Mine in Chhattisgarh.

Earlier, the Company had participated in the 1 ih tranche of auction conducted under the Coal Mines (Special Provisions) Act, 2015 for commercial mining and was declared as the "Successful Bidder" for this Bhaskarpara Coal Mine.

The Company is taking all effective steps and measures required for timely opening of the mine, which shall come as a great respite in the current scenario which is marked by global coal shortage. The mine shall provide stability to the Company's Integrated Steel operations through uninterrupted supplies of coal as well as significant cost reduction. Further, the said mine being a commercial mine shall also boost the revenue and the profitability through sale of coal in the open market.

Disclaimer: This release contains forward-looking statements based on the currently held beliefs and assumptions of the management of Prakash Industries limited (PIL), which ore expressed in good faith and, in their opinion, reasonable. Forward looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or industry results, to differ materially from the results or performance implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this document ore cautioned not to place undue reliance on these forward-looking statements.

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