ISMT : Sale or disposal of unit/ division/subsidiary

ISMT/SEC/22-23	December 9, 2022
Listing Department	Listing Department
BSE Ltd	National Stock Exchange of India Ltd
PJ Towers,	Exchange Plaza, Plot No. C/1, G Block,
Dalal Street, Fort,	BKC, Bandra (E),
Mumbai - 400 001	Mumbai - 400 051
Scrip Code: 532479	Symbol: ISMTLTD
Dear Sirs,

Sub.: Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015 ("Listing Regulations") - Sale of the Captive Power Plant of the Company

Pursuant to the provisions of Regulation 30 of the Listing Regulations, we wish to inform that the Company has entered into a Business Transfer Agreement, for sale of the 40 MW Captive Power Plant of the Company ("CPP") on a slump sale basis.

The details, as required under Regulation 30 of the Listing Regulations is enclosed as Annexure - I.

Kindly take a note of the same.

Thanking you,

Yours faithfully,

For ISMT Limited

CHETAN	Digitally signed by
	CHETAN MANOHAR
MANOHAR NATHANI
NATHANI	Date: 2022.12.09
22:54:10 +05'30'

Chetan Nathani

Company Secretary

Encl.: As above

E-mail: [e-mail]

Annexure - I

Sr. No.

Particulars

Disclosure

a)

Amount & percentage

Not Applicable.

of

turnover/

revenue/

income/

net

worth

CPP was non operational since April 1, 2014.

contributed

by

CPP

during

last

financial

year

b)

Date

on

which the

December 9, 2022 (Business Transfer Agreement)

agreement for sale has

been entered into

c)

Expected

date

of

completion

of

sale/

February 26, 2023

disposal

d)

Consideration received

Rs. 65.71 Crore

from such sale/disposal

e)

Brief

details of buyer

Buyer is Omsairam Steels and Alloys Private Limited, a private

& whether they belong

limited company having its registered office at Jalna, Maharashtra.

to

promoter/

promoter

The Buyer does not belong to the promoter/ promoter group/ group

group/group

companies

companies of the Company

f)

Whether

transaction

No

falls

within

related

party transactions?

g)

Name

of

entities

Buyer: Omsairam Steels and Alloys Private Limited, a private

forming

part

of

the

limited company having its registered office at Jalna, Maharashtra.

transaction,

details in

Seller: ISMT Limited, a public limited company having its registered

brief viz. size, turnover

office at Pune, Maharashtra.

(Rs. in Crore)

Particulars (FY2021-22)

Buyer

Seller

Turnover

1,318.26

2,152.54

Net-worth

226.79

1,415.78

Area of business of the

Buyer: Omsairam Steels and

Alloys Private

Limited is engaged in

entities

manufacturing of TMT Bars and Billets.

Seller: ISMT Limited is engaged in manufacturing of steel, alloys &

metal tubes.

Rationale

for

slump

The sale of CPP will strengthen the Balance Sheet/ financial position

sale

of the Company as CPP is non operational and will also help reduce

the annual operating cost that is incurred by the Company to keep

CPP in working condition.

In

case

of

cash

Cash consideration as specified in point d) above.

consideration - amount

or otherwise

Brief details of change

There will not be any change in the shareholding pattern of the

in shareholding pattern

Company.

(if any) of listed entity.

E-mail: [e-mail]