Tricom India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 02, 2008, inter alia, has approved subject to the approval of the members by way of Postal Ballot and such other approvals, the following business:

1. Acquire 100% shares of Godrej Global Solutions Ltd, subject to approval of the members under section 372A of the Companies Act, 1956, for the total consideration of Rs 19.63 crores to be paid partly in cash worth Rs 6.50 crores and the balance by way of issue of optionally fully convertible debentures convertible into equity shares at Rs 170 or at such price as per SEBI Guidelines, whichever is higher.

2. Issue of Optionally Fully Convertible Debentures on preferential basis towards payment of consideration for the aforesaid acquisition.

3. Sub-division of face value of equity capital by subdividing existing 1 equity share of Rs 10/- each into 5 equity shares of Rs 2/- each.