Granules India - Issue Of Equity Shares To ISP Investco LLC

With reference to the earlier announcement dated April 03, 2007 regarding issue of 22,11,200 equity share to ISP Investco LLC at Rs 105.50 per share on preferential basis, which will be around 13% holding in the Company (Post-issue), Granules India Ltd has clarified that the acquisition of stake will be below 15% only.