Omsairam Steels and Alloys Private Limited agreed to acquire 40 MW Captive Power Plant of ISMT Limited from ISMT Limited (BSE:532479) for INR 657.1 million on December 9, 2022. There will not be any changes in the shareholding pattern of ISMT. The transaction is expected to close on February 26, 2023.

The sale of CPP will strengthen the Balance Sheet/ financial position of ISMT as CPP is non operational and will also help reduce the annual operating cost that is incurred by ISMT to keep CPP in working condition.