Maithan Alloys Limited (BSE:590078) agreed to acquire Salanpur Sinters Private Limited from Subodh Agarwalla and Sudhanshu Agarwalla for INR 0.28 million on November 9, 2017. Maithan Alloys will acquire 0.04 million shares of Salanpur Sinters at a price not exceeding INR 7.07 per share in cash. Subodh Agarwalla and Sudhanshu Agarwalla each holds 0.02 million shares of Salanpur Sinters. On closing, Salanpur Sinters will become wholly owned subsidiary of Maithan Alloys. Salanpur Sinters reported nil turnover during last financial year. The Board of Directors of Maithan Alloys at a meeting on November 9, 2017 approved the transaction. The closing will take place within 15 days from the date of Board's approval.