Texmo Pipes and Products Ltd: Outcome of Board Meeting

Texmo Pipes and Products Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 11, 2011, inter alia, has considered and approved the following:

1. Adopt the Escrow Agreement entered into between the Company, the Lead Manager - Pan Asia Advisors Limited, and the Escrow Agent- European American Investment Bank AG (EURAM Bank).

2. Adopt the Deposit Agreement entered into between the Company and the depository.

3. Adopt the Placing Agreement entered into between the Company and the Lead Manager - Pan Asia Advisors Limited.

4. The Company has allotted 627500 Global Depository Receipts (GDR) at USD 15.93 each underlying 1,25,50,000 equity shares of Rs. 10 (Rupees ten only) each at Rs. 36/- (Rupees Thirty Six only) each to "The Bank of New York Mellon" in its capacity as a depository.

5. Approve the Deed Poll.

6. The listing of the 627500 GDR will be made on Luxembourg Stock Exchange on April 12, 2011.